Bearish forces have been unrelenting on Panamax trades with another round of losses sustained across the spot market and daily cuts of more than US$ 200 on the Pac round voyage, taking it to US$ 11,000 daily on 82,000 dwt vessels. There has been talk of new agri-prods coming on stream from the South American export markets, although market players have not confirmed this as tangible reality thus far. Trans-Atlantic business is nearly as bearish with up to US$ 200 being lost by the day on the TARV rates on Kamsarmaxes with a little over US$ 6,000 now. (For news & updates on dry bulk shipbroking, subscribe to the BMTI Daily Report.)