Panamax market losing steam after week of gains, newbuilding orders going strong

Source: Hellenic Shipping News -  The dry bulk market began this week on a negative tone, with all shipping segments on the red, with Panamax in particular dropping the most, thus limiting last week’s gains. The Baltic Dry Index (BDI) was down yesterday at 2,648 points, a fall of 1.12 percent compared to Friday’s closing. Meanwhile, according to the latest weekly report from shipbroker Golden Destiny last week proved yet another investment intensive with 32 sales reported in the secondhand and demolition market, with the highest activity though witnessed in the newbuilding market. In total 26 newbuilding were reportedly ordered last week, with an agreggate deadweight of 1,576,600 tons.
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