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The Platts KMAX 9 Panamax index fell to 54% below prior-year levels in Q4 2024. Lower tonne-mile demand from reduced Red Sea rerouting and the absence of expected year-end cargo demand drove the decline.
Strikes at US East and Gulf ports added congestion concerns.
Weaker Panamax freight reduces the cost of shipping grain and meal from US and South American origins. Soft freight signals slack demand for bulk grain movements.
seaandjob.comSEAANDJOBJan 13, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
