# Higher Panamax Rates Prop Up Baltic Index

> 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.

- Date: 2018-08-17 · published 2018-08-17T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/63732-higher-panamax-rates-prop-up-baltic-index
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: neutral

## Sources

- marinelink.com: https://www.marinelink.com/news/higher-panamax-rates-prop-baltic-index-440650

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