Panamax tanker market is gradually being phased out

Since the opening of the Panama Canal for the first time, Panamax tanker also about a century already exists in the shipping market. With the passage of time, to meet the different needs of the market, Panamax tanker ship has also experienced a long-term development, but the fact that most of this type of vessel has been replaced by more modern ship in the current market. Ship brokers said, most Panamax tanker market has been repainted and used for transportation of oil products.

Poten this ship brokerage, said in the opening of the Panama Canal just when Panamax tanker is designed to be able to pass the canal's biggest ship, its initial size standard for a total length of 965 feet, 106 feet wide type, design depth of 39.5 feet. However, with the ongoing expansion of the Panama Canal, after the expansion is completed in early 2016, a ship canal through the maximum size has been adjusted to a total length of 1200 feet, 161 feet wide type, design depth of 50 feet. Under this standard, Aframax tanker loaded with state and light load equally Suezmax tankers through the Panama Canal.

Traditionally, Panamax tankers ranging from major carriers in the Caribbean and the US West Coast. In fact, by the end of 2014, has been reported in spot trading, more than 70 percent of the crude oil Panamax ship is indeed eligible to rent in these areas, but this figure is declining. In 2002, this type of vessel reached about 1,400 charter pen spot trading. In 2013, this figure dropped to 600 pens. By 2014 this figure continued to decline over the same period, 430 pens, far below the annual target 500 pen. The Panamax tanker lease transaction volume decline is mainly due to changes in the Caribbean and the Americas, the Gulf region's oil trade, as well as the West Coast of the Americas due to changes in crude oil trade patterns. Of course, the Panamax tanker in the short term will not suddenly disappear from the market, to benefit from the size restriction, the type of ship has a number of trade activities in several ports in the Caribbean and the US West Coast region.