Panamax Ship Rates Advance as Coal and Grain Cargoes Seen Rising
Rates for Panamax vessels shipping grains and coal rose for a sixth session, amid speculation that demand to haul both cargoes is increasing.
Earnings from the ships, hauling about 75,000 metric tons of cargo, rose 2.1 percent to $9,326 a day, according to the Baltic Exchange in London. They’re the largest ships to navigate the Panama Canal. Costs for the Baltic Dry Index, a wider measure of freight, advanced 0.6 percent to 885 points. Two vessel classes within the gauge rose and two fell.