The panamax bulker market must be in higher demand in the Atlantic basin if it is to reverse its steady downward trend, according to brokers.
The Baltic Exchange’s Panamax 5TC basket of spot-rate averages across five key routes has fallen 17.4% since 13 July to $8,186 per day on Monday, hitting its lowest point since late February.
“Visibility is weak, and conclusions remain the same,” Luxembourg-based BRS Shipbrokers said in a report on Monday.
