Panamaxes hold steady in dull trading.

(From Lloyds List)

Dry Trade

WITH panamax rates losing some of their recent gains last week, the fact that this week has opened on a stable note might be considered mild good news, writes Nigel Lowry in Athens.

In fact, brokers note a very slight firming in the Atlantic sector, although not sufficient to close the gap on a patently stronger Pacific market.

Gorged on two years of excitement in the bulk trades, many are finding the going dull at the moment even if the market is dithering at profitable rates.

'Owners live in hope but there are a lot of ships open for the first half of March in the Atlantic,' a broker at Athens-based Carriers Chartering reported, identifying a possible depressive factor up ahead.

'We do not know how much cargo is going to be there for ...