Panamax bulker spot rates have reached their highest point in a month as dry bulk shipping approaches its busy grain season and the boxship market remains hotter than ever.
The panamax 5TC — a spot-rate average weighted across five key routes — made it to $32,522 per day on Tuesday, posting a 9.8% improvement so far this month.
The Baltic Panamax Index (BPI) on Tuesday joined the Baltic Dry Index (BDI) in surpassing 3,600 points after it picked up 33 ticks to reach 3,617 points.
