# Panamax Rates Drag Baltic Index Down

> The Baltic Exchange main index fell 9 points to 933 on July 28, weighed down by panamax rates, which shed 3.2% to 1,109. The capesize index edged up a point to 1,139.

- Date: 2017-07-28 · published 2017-07-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/70180-panamax-rates-drag-baltic-index-down
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower panamax earnings reflect softer demand for grain and coal cargoes, pointing to slightly lower ocean freight costs for bulk feed ingredients.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- marinelink.com: https://www.marinelink.com/news/panamax-baltic-rates427777

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