Panamax bulkers suffer week of ‘significant losses’ as demand slump persists

Spot rates for panamax bulkers saw a second consecutive week of hefty declines as the demand for dry commodities stayed modest in the Atlantic and Pacific basins.

The Baltic Exchange’s Panamax 5TC, which averages spot rates across five key routes, slid 10.3% over the past week to $20,010 per day on Friday. The index had suffered a 7.1% loss during the prior week.