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Sums redone pending Kamsarmax debut.
(From Lloyds List)
Dry Trade
ANALYSTS continued to dance with supply and demand figures yesterday on the lacklustre panamax dry trade, writes Justin Stares.
One, Phillip Rogers from UK trading house Galbraiths, pointed out that a new class of ship, the 'kamsarmax,' will enter the market this year in the panamax index.
The ships, typically 82,800 dwt, are capable of crossing the Panama Canal and will not therefore fall into the capesize index. To properly assess supply and demand for 2006, growth prediction should therefore be compared against the planned fleet increase for both panamax and capesize fleets, said Mr Rogers.
'There are at least 40 kamsarmax newbuildings entering the market this year as part of the panamax trade,' he said. 'This means we have to re-do our calculations for the panamax fleet.'
The arrival of the kamsarmax makes like-for-like comparisons difficult compared to 2005, so the best ...
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