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.

News ID: 70725

Date: 07 December 2016 - 12:14

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.