Panamax/Kamsarmax fronthaul segment looks supported in USG

The North Atlantic Panamax/Kamsarmax market is coming under pressure on T/A routes as the tonnage list is lengthening slowly, while there are just a few cargoes around to absorb ships. Meanwhile, the F/H segment shows elevated activity levels and slightly improved rates:

• Panamax/Kamsarmax time-charter rates bss TARV are hovering at $13.5-14.5k daily;
• An 83k dwt ship has been chartered at $15k daily bss dely Gibraltar via USG redel Med;
• The deal for an 80k dwt vessel bss dely Gibraltar via USEC redel Skaw-Passero has been signed at $13.75k daily;
• The contract for transportation of 60,000 t of coal from Houston to Eemshaven has been agreed at $23/t with 2H March laycans, which is equivalent to $15k daily bss dely Gibraltar;
• A 70,000 t lot of coal has been fixed from Bolivar to Safi at $17/t with mid-March laycans, which is equivalent to $13k daily bss dely Gibraltar;
• The deal for an 81k dwt carrier bss dely Gibraltar via USEC redel India has been signed at $25k daily;
• The contract for a 77k dwt vessel bss dely Gibraltar via USG redel China has been concluded at $23k daily;
• Transportation of 66,000 t of grains from USG to China with spot laycans is discussed at $51-53/t, which is translated to roughly $20-22k daily for a Kamsarmax ship bss dely Gibraltar;
• The deal for shipment of 75,000 t of coal from Baltimore to ECI has been signed at $37.5/t with late  March laycans, which is equivalent to $24k daily bss dely Gibraltar.