The market for panamaxes, supramaxes and handysizes — all three bulker smaller than capesizes — sank this week to levels that have not be seen in two and a half years.

The Baltic Exchange’s Panamax 5TC basket of spot-rate averages across five key routes slid 17.8% over the past seven days to reacj $9,618 per day on Friday, while the Supramax 10TC dropped 18.7%