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The Baltic Exchange main sea freight index rose 3 points to 1,723 on August 17, 2018, gaining about 2% for the week. Panamax rates rose 2.6% to 1,485 on stronger demand, offsetting a drop in capesize rates.
Capesize earnings slipped to about $25,373 per day.
Firmer panamax rates raise the cost of moving grain cargoes, which can support export and import basis. The capesize decline partly offsets that effect, so the overall freight impact is modest.
marinelink.comMichelle HowardAug 17, 2018Not 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.
