Panamax

74,000 dwt (Approx. 69,000 tonnes cargo)

These vessels are more flexible than Capes, particularly as they can transit the Panama Canal. In addition to carrying iron ore and coal, they also carry a considerable amount of grain, bauxite and fertilisers in bulk.

On the FFA front, this size has been trading from the start of the market in 1991 and is the most active sector. Initially they were found attractive because traders liked the specificity of trading individual Panamax routes. However, now the largest interest centres on the average of the 4 timecharter routes.

Estimated volume of FFAs pa:
		550 million tonnes
		Average total tonnes carried by each vessel pa: 400,000 tonnes
		Total number of vessels (60/76kt dwt): approx 1200