Panamax Bulk Carrier Rates Hit Over 10-year High

Home Community Industry News Panamax Bulk Carrier Rates Hit Over 10-year High

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    Greensea Systems
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    The Baltic Exchange’s main sea freight index on Wednesday climbed to a near 1-1/2-year high as panamax rates scaled a more than 10-year peak on China grain demand.

    The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 88 points, or 4.4%, to 2,105, a peak since September 2019.

    The panamax index gained 211 points, or 8.9%, at 2,583, its highest since September 2010.

    Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $1,896 at $23,245.

    Read more by visiting MarineLink.com

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