Panamax rates below $20,000 for first time since 2006

Wednesday 1 October 2008

TRANSATLANTIC panamax rates this week fell below $20,000 per day for the first time since June 2006, and dropped 72% in the last month, writes Jamie Dale.

The Baltic Exchange’s transatlantic assessment on Monday was $19,038 per day, down from $68,755 on September 1. Yesterday the rate was $15,063, down a further $3,975 per day.

Brokers had ...

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