Panamax bulker spot rates took their first drop in more than two weeks on Thursday, ending a rally that has seen the sector defy a dry bulk slump.
The dip came a day after a bloody Wednesday on the panamax forward freight agreement (FFA) market turned the futures curve in a downward direction.
The Baltic Exchange’s Panamax 5TC, a measure of spot earnings on five key benchmark routes in the sector, dipped 2.6%
