September 2022

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15-September-2022

Panamax Bulk Carrier Spot Rates shift downward for the first time since late August as FFA (Forward Freight Agreement) curve moves negatively. Panamax Bulk Carrier Spot Rates took their first plunge in more than two weeks on Thursday, ending a recovery that has seen the Panamax Bulk Carrier segment withstand a dry bulk slump. On Wednesday, the PanamaxFFA (Forward Freight Agreement) market turned the futures curve in a downward direction. The Baltic Exchange’s Panamax 5T (spot earnings of panamax bulk carriers on five key benchmark routes), plunged 2.6%.

9-September-2022

The Baltic Exchange’s Panamax 5TC (Average Spot-Rate Across Five Key Routes) increased to $16,786 per day on 9-September-2022 due to port congestion and strong grain cargoes. The Baltic Exchange’s Panamax 5TC increased due to South American grain exports and port congestion. On the other hand, Capesize Bulk Carrier spot rates have declined. Panamax Bulk Carrier spot rates increased as the grain markets in both the East Coast South America (NOPAC) and NoPac (North Pacific) came busy.

2-September-2022

The decreasing Atlantic market for Panamax Bulk Carriers is witnessing some hope in the Forward Freight Agreement (FFA) for higher spot rates. However, that does not necessarily mean that a floor for spot rates is on the way. The Average Panamax Spot Rate for the Baltic Exchange P7 Route (the US Gulf to Qingdao) has plunged 19.7% since 1 August to $52.44 per tonne. On the other hand, The Average Panamax Spot Rate for the Baltic Exchange P9 Route (Santos to Qingdao) plunged 27.9% to $39.63 per tonne.