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The study, titled "The Hour of the Wolf for Panamaxes," takes an in-depth look at coal and grain trade in the Atlantic; reviews supply and demand and other voyage economics for ship owners; and provides an analysis of the global Panamax fleet and order book.
"The shrinking exports of U.S. thermal coal to Europe, falling bunker prices and a massive overhang of Panamax tonnage have kept freight rates depressed," said Peter Norfolk, Platts editorial director for global shipping and freight. "And while the short term outlook is quite bearish, with global deadweight capacity expected to rise the next two years, the medium-term forecast looks more positive past 2018."
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