Average spot rates for midsize bulkers have hit four-month highs as grain volumes out of South America and the US Gulf Coast remain high, an analyst said.
The Baltic Exchange’s Panamax 5TC of spot-rate averages across five key routes edged up 1.2% on Monday to nearly $13,600 per day to reach its highest rate since 5 May.
Norden Shipping fixed Densay Shipping’s 81,119-dwt panamax SSI Excellent (built 2016) at a much higher $22,500 per day to travel from Belgium’s Port of Ghent to the US Gulf to ship grain from the US Gulf Coast to the Far East after loading the ship from 16 to...
