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. “Further south there returned limited support for the longer grain transatlantic rounds.”

K Line has fixed the 82,198-dwt Iris Bliss (built 2016) to Chinese commodities giant Cofco Agri at $27,000 per day to ship grain from the US Gulf to Spain after ballasting from Hamburg. Loading is set to take place from 5 to 10 April. This voyage compares to a Baltic assessment of a transatlantic roundtrip at $32,250 on 25 March.

The Baltic’s supramax 10TC slid 8.7% over the week to $30,301 per day as supply in the Asian market outweighed demand. “The recent strength within the Asian arena was eroded during the week as enquiry levels from key areas like Indonesia dipped, which lead to a plentiful supply of prompt tonnage,” analysts wrote.

The capesize market also experienced a downward trend but was able to regain most of its losses by the end of the week. The Baltic Exchange’s capesize 5TC dipped earlier in the week but rebounded to register only a $188-per-day loss over the past seven days to $15,460 per day on Friday.