# Costly Panamax freight sees Capesize ore carrier loading grains

> A Capesize bulker, the MV Pacific Myra controlled by Cargill, is reported to be scheduled to load grain at Paranagua, Brazil, for a Panamax-sized cargo to Europe. The move follows a wide freight spread that makes Capesize ships cheaper per tonne than Panamax on this route.

- Date: 2021-02-26 · published 2021-02-26T12:00:00.000Z
- Category: logistics · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/48520-costly-panamax-freight-sees-capesize-ore-carrier-loading-grains
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Using Capesize tonnage for grain signals Panamax freight is costly enough to draw unusual ships into grain trades, a sign of tight dry bulk supply. This supports freight costs for Brazilian grain exports.

## Read by commodity

- SOY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-10-19 | [Grain trade has supported Panamax freight rates but coal risk still remains](https://feedsoft.ai/events/50534-grain-trade-has-supported-panamax-freight-rates-but-coal-risk-still-remains.md) | +3.2% | +8.7% |
| SOY | 2019-04-26 | [The future of the Panama Canal: What’s next for grain and coal shipping - FreightWaves](https://feedsoft.ai/events/59492-the-future-of-the-panama-canal-what-s-next-for-grain-and-coal-shipping.md) | -3.3% | -4.4% |
| SOY | 2019-07-18 | [Capesize bulker rates are ‘electrifying’ - FreightWaves](https://feedsoft.ai/events/58293-capesize-bulker-rates-are-electrifying-freightwaves.md) | +1.0% | -2.4% |
| SOY | 2020-01-17 | [Panamax freight spikes in Pacific on Atlantic grain demand, US-China deal \| S&P Global](https://feedsoft.ai/events/54984-panamax-freight-spikes-in-pacific-on-atlantic-grain-demand-us-china-deal-s-and.md) | -2.4% | -3.3% |
| SOY | 2017-09-13 | [Gauging Pre-Harvest Freight Costs](https://feedsoft.ai/events/69129-gauging-pre-harvest-freight-costs.md) | +2.3% | +2.3% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/shipping/022621-costly-panamax-freight-sees-capesize-ore-carrier-loading-grains

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