Pacific Basin Fills Up With Higher Priced Contracts, Quietly Confident for Future — Panjiva
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Pacific Basin Fills Up With Higher Priced Contracts, Quietly Confident for Future

Earnings 759 Global 1391 Mode - Bulk 139 Mode - Seaborne 1845

Bulk carrier Pacific Basin reported improved, achieved rates in the third quarter of 15% for Handysize and 27% for Supramax vessels vs a year earlier. That lagged the 57% jump in the broader Baltic Dry Index, which was driven by a surge in Panamax rates. Further growth for Pacific Basin should come after it secured rate improvements of 11% to 17% for the fourth quarter vs. the third in contracted volumes. The company remains relatively upbeat, seeing a “gradual recovery” in the market – a marked contrast to tanker operators’ expectations of improvements only from late next year....

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