The Capesize market staged a dramatic turnabout at weeks end after seeing several days of value eroded off each route in the market. Closing last week at $46,647 the market took losses down to $40,518 before surging +5021 on Friday to close this week out at $46,172. The market change is sure to have left many traders bewildered, yet this is well known to happen in the Capesize sector. Throughout the week the Transpacific C10 was largely responsible for much of the poor sentiment, as it settled up 4589 to close at $41,954. The Transatlantic C8 was more resistant yet was eroding under the weight of the other routes. Come the close it lifted 9575 to $57500. The West Australia to China C5 ended the week well above where it began rising to $14.155 while the Brazil to China C3 couldn’t quite mange the same, posting at $31.80. The momentum direction is strongly up so the question for next week is not whether it will continue to rise but possibly by how much?



It proved to be a varied week for the Panamax market. A tepid start, but with some solid support midweek we end on a firmer feel. Despite a dearth of authentic transatlantic demand, rates picked up largely due to a tight north Atlantic tonnage count and a week in which the quicker Baltic coal round trips came to the fore. A midweek push saw end September/early October arrival loading out of EC South America find some support, with various rumours emerging. In Asia, a similar pattern played out for the early part with congestion ex China easing against a frail looking cargo list. Rates softened, only for them to find support later in the week with better demand. A 82,000-dwt delivery North China agreed $32,750 for a NoPac round trip roughly the mean average on the week. A 82,000-dwt achieved $30,750 for 11/13 months period basis a China delivery.



A rather lacklustre week for the sector with limited fresh enquiry from areas such as the US Gulf after the recent hurricane and limited enquiry from south east Asia leading to greater tonnage availability. However, as the week ended some said a bottom might have been reached as rates seemed to be hovering around last done. Limited period activity surfaced, a 64,000-dwt open CJK fixing at around $29,000 for one year. In the Atlantic, limited fresh enquiry from east coast south America, but a 56,000-dwt was heard to have been fixed in the mid to upper $30,000s for a trip to Algeria. Elsewhere, a 57,000-dwt open west Africa was heard fixed for a trip to the eastern Mediterranean at $31,000. From Asia, a 59,000-dwt open Philippines was linked to a trip via Indonesia redelivery Thailand at $35,000. At the beginning of the week a 55,000-dwt open north China was fixed via Korea trip redelivery west coast India at $35,000.



This week has seen the US Gulf Market soften with the aftermath of the Hurricane still causing issues for cargo supply on what was an inactive market. Some Owners decided to ballast away to both South America and some towards the Continent and Mediterranean regions in search of their next employment. A 30,000-dwt was rumoured to have fixed for Puerto Bolivar to Morocco with an intended cargo of coal at $16,000. A 37,000-dwt open in Cristobal ballasted to Fazendinha to fixed a trip to the Continent with grains at $21,000. South Brazil has rallied in the last few days with a 37,000-dwt rumoured to have fixed a trip from Upriver Plate to the Baltic at around $36,000. In Asia a 28,000-dwt open in China was fixed for two Laden Legs at $28,000. A 34,000-dwt was rumoured to have fixed for minimum of seven months from the Western Mediterranean region at $35,000.