Storm Damage at Port of Buenos Aires [PHOTOS]

The Port of Buenos Aires sustained some serious damage earlier this week after a strong thunderstorm knocked down trees and cut power across much of the city. Photos sent into gCaptain show a gantry crane collapsed onto a MOL containership at Hutchinson terminal at the port. Photos below: … [Read more...]

South American Grain Continues to Support Panamax Rates, Capesize Ships Take Another Hit

By Shrutee Sarkar March 22 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, firmed for the 18th consecutive day on Friday, as South American grain season boosted the panamax rates. The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport … [Read more...]

South American Grain Boom Drives Panamax Rates Higher

March 11 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose on Monday, primarily due to higher panamax rates that were driven by April grain cargoes from South America. The overall index, which gauges the cost of shipping commodities such as iron ore, cement, grain, coal and fertilizer, climbed 4 points or … [Read more...]

Panamax Demand Rises on Increased Grain Exports from South America

(Bloomberg) -- The Baltic Dry Index, a measure of commodity-shipping costs, rose to the highest level this year on demand to transport grain cargoes.  The gauge added 1.1 percent to 843, the highest since Dec. 11, figures from the London-based Baltic Exchange showed today. It has advanced 14 percent during a run of eight consecutive gains, data compiled by Bloomberg showed. … [Read more...]

South American Grains Fuel Higher Day Rates for Panamax Ships, Capesizes Decline

Returns for Panamax ships, the main grain and coal carriers, reached the highest in almost two months as the reopening of some Asian offices after holidays and South America’s nearing grain season spurred demand. Daily average returns for the vessels, the largest to navigate the Panama Canal, gained 3.3 percent to $6,431, figures from the London-based Baltic Exchange … [Read more...]