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News ID: 70725 |
Publish Date: 12:14 - 07 December 2016

Panamax rates surge to 34-month high

Spot rates for panamax bulkers rose to the highest level in nearly three years even as capesize vessels pulled down the Baltic Dry Index today.

Panamax rates surge to 34-month high
According to MANA,The Baltic Exchange's time-charter average for the sector ticked up by 1.4% Tuesday to reach nearly $12,500 per day, a rate not seen since 17 January 2014. The rate assessment represents a 6.7% gain compared to this time last week.
Supramax rates also reached a new high for the year, with the time-charter average inching upward to $9,770 per day. The Baltic Exchange has not recorded that level since August 2015, according to data from the London shipping marketplace.
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