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Panamax rates have fallen 31% since the start of 2023 as the market moves past the Far East holiday period. Indonesian coal shipments were strong in January, though Chinese liftings were lower year on year, and forward freight prices point to a reversal of the panamax premium over capesizes later in the year.
Weaker panamax rates early in the year lower near-term grain freight costs, but the forward curve signals that bulk freight costs may rise in the second half.
breakwaveadvisors.comBraemarFeb 7, 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.
