The panamax market has experienced a significant rally, reaching a nearly 11-month high with the Baltic Panamax Index (BPI) hitting 1,874 points and the weighted average of the 5 Time Charter (T/C) routes reaching USD 16,868. Notably, the Skaw-Gibraltar Transatlantic round voyage has boosted the BPI by around 60% in the last 10 days. The Japan-South Korea Transpacific round voyage and the South China, Indonesian round voyage have also provided strong support to Panamax rates, increasing by around 120

SOURCE: GOOGLE