A consensus is building among Panamax observers and traders that the mid-range bulkers are poised for a quite positive 6-8 weeks ahead as a combination of oncoming South American grain cargoes—driven by strong eastbound demand—and slimming tonnage availabilities generate a bullish upward spiral in spot freights in the Atlantic. Even as current spot markets stagnate around last-done rates and activity takes a breather, a strong upside remains in place for the near term with front hauls likely to shoot back into the US$ 20,000s by the end of the month, if not already next week. TARV rates are hovering in the low-middle teens of around US$ 13-14,000 daily.
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