The spot market for panamax and supramax bulkers fell during the past week as demand suffered in both the Atlantic and Pacific basins.
The panamax 5TC, a spot-rate average across five key routes, declined 10% over the last seven days to $27,660 per day on Friday, according to Baltic Exchange data.
“A distinct lack of demand in the North Atlantic aided a drift in rates,” Baltic Exchange analysts wrote on Friday in their weekly assessment of the dry bulk market.
