Panamax bulker rates gain 6.5% in a day as rest of dry bulk shipping falls back

The panamax bulker market had a good day on Tuesday thanks to supply constraints and grain expectations out of the Americas, while the rest of dry bulk shipping lost some ground.

The Baltic Exchange’s Panamax 5TC spot-rate average across five key routes gained 6.5% on Tuesday to come in at just over $12,700 per day.

“The cargo list is well supported by the end of September and beginning of October for grain cargoes exporting from the US Gulf — where we have seen some bids rise a touch from last week,” French shipbroker Barry Rogliano Salles (BRS Group) said in a report on Tuesday.


View entirety: Tradewinds