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Panamax dry bulk freight rates rose strongly during the week of June 19-23, 2017, with the average Panamax rate climbing from $7,886 to $8,570 by Wednesday. Capesize rates weakened sharply after the spot average fell 12.7% to $7,685, and the Baltic Dry Index held near 850 points.
Capesize weakness reflects falling iron ore prices, which made marginal long-haul ore cargoes uneconomical, so feed-ingredient freight costs were mixed. Panamax strength supports higher ocean freight for grain and meal shipments.
seatrade-maritime.comMarcus HandJun 23, 2017Not 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.
