Seago Line, the new European operating division of Maersk Line, has started taking mid-size vessels at bargain-basement rates.

Just when many hoped the charter market had bottomed out, the company has helped push rates for panamaxes below the $8,000- per-day threshold.

A couple of newbuildings have been taken from German manager Thomas Schulte at just above that rate but an older vessel has been secured from CSAV at well below the figure.

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