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The Panamax index fell 71 points, or 3.4%, to 2,024, its lowest level since April. Average daily earnings for Panamax vessels, which carry coal and grain, dropped by $632 to $18,220.
The report describes a tenth straight day of losses on weaker demand.
Falling Panamax earnings signal softer demand for grain shipping capacity, which lowers freight costs for bulk grain and meal exports.
reuters.comJan 20, 2022Not 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.
