Essay: Panamax Vessels and Dry Bulk Market
The panamax vessels are shipping vessels which are designed specifically in such a manner to be able to pass through the locks of the Panama Canal. The panamax vessels are built in such a manner that they are able to carry the maximum amount of weight and storage as possible through the canal.
This characteristic is the reason for the name of the vessels. The panamax vessels are high dynamic, speedy and flexible when compared to capesize, however they are able to provide reduced time for travel by cutting through the European and the African continents. The demand for the panamax ships is very high in the dry bulk market. In certain capesize has increased by 70percent over the demand indicated in 2002. In 2006 “1,249 bulk carriers were attributable to the panamax size segment (60,000-80,000 dwt). With 88.9 mill dwt they had a share of 26.0 per cent of the total bulk tonnage.” (2006, ‘ISL Market Analysis’)
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