Post-Panamax Bulkers Increase their Market Share

VesselsValue.com reports that between January 2009 and September 2013, commodities shipped by Post-Panamax dry bulk carriers have increased from 4 to 9 per cent while commodities shipped by Panamax vessels decreased by 5 per cent from 19 to 14 per cent during the same period.

Post-Panamax vessels have a carrying capacity of 80,000 – 109,999 dwt and tend to have a shallower draft and larger beam than standard Panamax vessels. They are designed for loading high cubic cargoes from draught restricted ports, but cannot transit the Panama Canal. Panamax vessels have a carrying capacity of 60,000-79,999 dwt.

According to VesselsValue.com statistics as of March 11, 2014, Capesizes account for 39 per cent of the live global dwt, Post-Panamaxes 7 per cent and Panamax vessels 20 per cent.

Newbuilding Snapshot

Adding to the post panama numbers most recently is Bulk Carriers which took delivery of Star Sirius a Post-Panamax bulk carrier of approximately 98,000 deadweight tons carrying capacity. Including Star Sirius, Star Bulk owns seventeen dry bulk vessels: five Capesize, two Post-Panamax, two Ultramax and eight Supramax vessels with average age of approximately 8.9 years. 

Quintana Ship Management took delivery of Post-Panamax Q DEB from Sasebo Heavy Industries, Japan on January 31, 2014. Sister vessel Q Sue was delivered in November last year.

There’s more to come. Safe Bulkers has contracted to acquire eight new vessels throughout 2016, two of which are Post-Panamax. The company’s fleet currently consists of nine Panamax vessels, seven Kamsarmax vessels, eleven post-Panamax vessels and three Capesize class vessels.