# Baltic Index Down On Sliding Panamax Rates

> The Baltic Exchange index fell for a sixth straight session on October 2, driven by a twelfth consecutive daily drop in Panamax rates. The composite index slid to 1,803, its lowest since mid-August, while Capesize earnings rose slightly to $24,430 per day.

- Date: 2019-10-02 · published 2019-10-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/56763-baltic-index-down-on-sliding-panamax-rates
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Falling Panamax earnings, the vessel class that usually carries grain cargoes, point to cheaper ocean freight for grain exports from South America and the Black Sea.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- marinelink.com: https://www.marinelink.com/news/baltic-index-down-sliding-panamax-rates-471314

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