The Panamax class of tanker vessels was named after the original Panama Canal, as the largest vessel size able to cross the new trade route. Fast forward a few decades later and the 99th birthday of the Panama Canal sees the famous trade crossing getting ready for its biggest expansion to date, which in turn poses an existential question for the Panamax tanker sector as well. According to the latest weekly report from Poten & Partners, "speculation on the obsolescence of the segment is a timely topic of discussion since the commission of a third set of post-Panamax locks is due in late next year, or early 2015. While historically engaged in regional, dirty trading, Panamaxes must now face a different course. The decline of the fuel oil trade in the Caribbean and the much-anticipated emergence of long-haul clean products trades presents a crossroads for the sector", Poten said in its analysis....
Posted on: Wed, 28 Aug 2013 09:36:42 +0000
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