# Baltic Index Falls 2% On Lower Rates For Panamax

> The Baltic Exchange's main dry-bulk index fell 2% to 1,546 points on Wednesday, driven by weaker panamax and supramax rates. Panamax daily earnings dropped $368 to $13,372, while capesize rates edged up.

- Date: 2018-10-24 · published 2018-10-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/62726-baltic-index-falls-2-on-lower-rates-for-panamax
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower panamax rates, the vessel class that carries US and Brazilian grain cargoes, point to softer ocean freight costs for grain and meal exporters, which can modestly widen export margins.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- marinelink.com: https://www.marinelink.com/news/baltic-index-falls-lower-rates-panamax-443012

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