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The Baltic Exchange main sea freight index reached a near three-week high on August 10, with the panamax index rising 2.4% to its highest in over nine months. Panamax daily earnings climbed to $14,400, while capesize earnings fell.
Panamax vessels carry much of the grain and soybean trade, so higher panamax rates raise ocean freight costs for grain exports and can widen origin-destination price spreads.
scceu.orgAug 10, 2020Not 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.
