Pressure is growing on rates for the largest bulkers with Capesizes in the eastern markets suffering the most. Day-on-day downgrades of US$ 6,000 (or more) on standard Pac RVs (basis S.China delivery) has taken the C10 assessment down to the US$ 22,000s with high teens of US$ 17-18,000 looking entirely possible (if not inevitable) by the end of the week. Front hauls are losing ground, if more slowly, with US$ 45,000s sliding into US$ 44,000s (or lower). Charterers have wrested control back in negotiations for Panamax rates in both hemispheres as fading cargo demand and rising avails conspire to push owner concerns to the sidelines, for the time being. As with the Capesizes, losses are most dramatic in the East where inter-Pacific round voyage rates on 82,000 dwt ships have fallen below US$ 20,000 daily since the start of the week and seem bound to hit the US$ 17-18,000 very soon indeed. TARV rates are hovering just above US$ 11,000 with US$ 12,000 daily still achievable on Kamsarmax ships, if not for long. (For news & updates on dry bulk shipbroking, subscribe to the BMTI Daily Report.)
