Panamax freight rates surged this week after the United States and China agreed to suspend reciprocal port fees for a year, part of a series of trade and industrial commitments emerging from US President Donald Trumps tour of Asia.
Analysts said the move lifted confidence across bulk and container markets, as the easing of tit-for-tat tariffs raised hopes for a revival in trans-Pacific trade volumes.
The Baltic Panamax Index climbed sharply following Thursdays announcement in Beijing, with market participants anticipating a rebound in grain shipments after months of disruption.