Panamax Freight Index Drop

[errolanderson]

Unless my screens are showing faulty
data, the Panamax (ocean freight) index
really dropped today (about 30%).

This suggests that global shipping is
slowing and there is a now a substantial
surplus of ocean freight.It appears that
global commodity trade may have really
hit the skids-of-late.

This may be fallout from Europe's
decline impacting China's factory
output.

fyi . . .

[HappyFarmer]

errol.
Aside from my farm i have a grain trading business.
Steamship lines have been pushing us for months, cutting back vessels/containers, etc trying to justify higher.
Guess what, they couldnt hold them.
Just shows you how slow the world TRADE, really is.

[LWeber]

Baltic Dry 778 ( 0.13%)
Baltic Capesize 1,676 ( 0.96%)
Baltic Panamax 463 ( 5.47%)
Baltic Supramax 818 (-0.85%)
Baltic Handysize 454 (-2.78%)
As of 10/02/12

[LWeber]

Baltic Dry 798 ( 2.57%)
Baltic Capesize 1,738 ( 3.70%)
Baltic Panamax 496 ( 7.13%)
Baltic Supramax 810 (-0.98%)
Baltic Handysize 448 (-1.32%)
As of 10/03/12

[bucket]

Good time to take advantage of low
freight. Demand Will not be slowed at
the current prices. The cwb should be
taking note as well as other exporters.

[ColevilleH2S]

Panamax rates up fourth day in a row.

http://mobile.reuters.com/article/idUSL6E8L3E6I20121003?irpc=932

[wmoebis]

I don't know anything about how freight
is negotiated but can/do they lock in
lower rates to be used later, Sorta like
forward pricing?

[bucket]

It would seem logical to do so, otherwise, what is the purpose of a freight index?

[LWeber]

Baltic Dry 875 ( 3.55%)
Baltic Capesize 1,932 ( 3.15%)
<b>Baltic Panamax 598 ( 9.93%)<b/>
Baltic Supramax 795 (-0.87%)
Baltic Handysize 444 (-0.22%)
OCTOBER 09

[LWeber]

Baltic Dry 875 (-0.91%)
Baltic Capesize 1,829 (-4.79%)
Baltic Panamax 712 ( 10.05%)
Baltic Supramax 789 (-0.25%)
Baltic Handysize 442 (-0.45%)
As of 10/09/12