# Panamax market on a surge for first time in 2023 - Hong Kong Maritime Hub

> 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.

- Date: 2023-02-27 · published 2023-02-27T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/37533-panamax-market-on-a-surge-for-first-time-in-2023-hong-kong-maritime-hub
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- hongkongmaritimehub.com: https://www.hongkongmaritimehub.com/panamax-market-on-a-surge-for-first-time-in-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.