Sub-cape rally short-lived as long-term fundamentals remain negative
- A strong South America grain season has buoyed panamax and supramax rates
- USTR fears are causing some charterers to avoid Chinese-linked tonnage
- But muted Chinese economic growth and large amount of tonnage hitting the water means long-term outlook still soft
The panamax and supramax segments experienced a decent climb in June and half of July, but the underlying negativity has not gone away
