Panamax Freight Rates Slide as Indian Bulk Importers Weigh Shipping Costs
Summary Panamax freight rates fell to their lowest level in two months on 23 October, offering potential savings for Indian coal and grain importers. However, the wider dry bulk market remained stronger over the…
Panamax freight rates fell to their lowest level in two months on 23 October, offering potential savings for Indian coal and grain importers. However, the wider dry bulk market remained stronger over the week, while domestic coal supply, overseas cargo demand and Indonesian production decisions complicated the outlook.
Panamax freight rates weakened further on 23 October 2026, with the Baltic Exchange’s Panamax index declining approximately 2% to 2,109 points, its lowest reading since 24 August.
The decline contributed to a 1.2% fall in the Baltic Dry Index to 2,660 points, ending four consecutive sessions of gains. Nevertheless, the composite benchmark finished the week approximately 5.9% higher, recording its second successive weekly increase.
Other vessel segments also retreated during Friday’s session. The Capesize index fell 1.5% to 3,791 points, while the Supramax index edged down 0.2% to 1,887 points. The contrasting daily and weekly movements underline the uneven conditions across dry bulk shipping.
This story was originally published by Maritime Gateway. Read the full story at Maritime Gateway →
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