Rents for Panamax vessels have experienced record increases over the past four months of operation as US grain imports and coal imports to China fueled demand. Panamax ships are the largest vessels which are capable of navigating the waters of the Panama Canal. Due to the recent increased demand the daily rates for renting these ships increased by 2.7% to $14,567.
This 2.7% raise was the largest seen since May 25 of this year, and represents the eighth session in a row in which hiring rates went up.
Rental rates for panamaxe s vessels for use on the Atlantic Ocean for transport to Asia also climbed by 1.5% to $24,813 per day, the highest amount since April 1, 2011. This route is the most expensive of any other shipping routes.
