The panamax bulker market dropped to its lowest level in more than two years on Thursday as the transatlantic routes saw meagre fixture activity.
The Baltic Exchange’s Panamax 5TC set of spot-rate averages across five benchmark routes declined 4% on Thursday to $8,894 per day, marking its lowest figure since falling to $7,959 per day on 15 June 2020.
The average spot rate for the P1A-82 round-trip transatlantic voyage from the US Gulf Coast to Europe slid 8.5%
