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The Panamax dry bulk market surged for the first time in 2023, with the 5TC index rising from $2,246 to $5,271 over the week. Gains were seen across basins, including South America, the Atlantic and Asia, as owners reported improved demand following China's reopening.
Firmer panamax rates, which carry much of the grain volume, lift the cost of shipping feed grains and meal, but the market is described as fragile and could reverse quickly if cargo demand weakens.
hongkongmaritimehub.comMichael GrinterFeb 27, 2023Not 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.
