The Panamax freight rates since  last week are on the start to continue on their southbound trail but with low demand of grains from Chinese buyers.
The trans-Atlantic market Indicates as well further slowing activity. ECSA sees a growing amount of ballasters coming in aiming to pick up grain trades for end February/begin of March. The Pacific round voyages are hovering between US$ 8,000-9,000 daily. Little amount of fixtures is seen during the first half of the week and this reflected in further slowing freight rates in both basins. Coal voyages from East Australia to China are talked in a range of US$ 11.30-11.40/mt. Trans-Atlantic rounds are hovering around US$ 9,500 daily