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The Panamax dry bulk market rallied sharply in early July, with the Baltic P6 index rising 21.3% week-on-week to $16,909 per day. The move was driven by a sudden tightening of tonnage in East Coast South America, which is typically quiet in early July.
A sharp tightening of Panamax tonnage out of South America raises the cost of moving Brazilian and Argentine soybeans and corn to Asia, which can lift ocean grain freight and widen FOB-CIF spreads for feed grain buyers.
breakwaveadvisors.comDoricJul 14, 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.
