The panamax bulker sector’s slide late last week after a two-week rally may continue this week, lest the grain trades from the east coast of South America and US Gulf Coast come to the rescue, BRS Brokers said.

The projection by the French shipbroker came after the Baltic Exchange’s Panamax 5TC of spot-rate averages across five key routes declined 4.8% to just over $17,900 per day on Friday, continuing a downward slump that started the day before.