Capesize

The Capesize market displayed a steady yet nuanced performance this week, starting on a subdued note due to European holidays but gaining traction as the days progressed. In the Pacific, the C5 West Australia to China route saw persistent activity from all major miners, with fixtures gradually improving from sub $10.00 levels early in the week to highs of $11.015 by Friday. The Atlantic basin led the rally and outshone the Pacific, driven by persistent tightness in the North Atlantic and growing demand on the C3 Brazil to China route, where tight fundamentals and firm demand helped push bids and offers steadily upward, with offers climbing on C3 to $27.00–$28.00 for early July laycans on Thursday. However, it quieted down on Friday especially for the activity with index laycan. The North Atlantic remained notably firm, supported by a tight tonnage list and robust enquiry. By week’s end, the BCI 5TC had climbed significantly, rising nearly $6,000 from a Monday opening of $24,961 to close at $30,866.

 

Panamax

The Panamax market encountered significant rises this week. A strong demand push in the Atlantic was for the most part grain centric with decent levels of support found in both the North and South Americas particularly for end June arrival dates. Interestingly despite making big gains, the trans-Atlantic returned a two-tiered market, very much delivery dependent with Continent positions not seeing the same premium levels as West Mediterranean tonnage An 84,000-dwt delivery Gibraltar achieved a rate of $21,500 for a trip via North Coast South America redelivery Taiwan whilst an 84,000-dwt delivery North Spain agreed a rate of $18,000 for the same trip, highlighting well the wide discrepancy. Demand ex Australia appeared the main driver for the Pacific this week with plentiful activity and with an improving East Coast South America market, the pacific arena remained well supported throughout, the highlight an 82,000-dwt delivery China for a trip via Australia redelivery Singapore-Japan achieving $13,500. Period activity improved too, including reports of an 82,000-dwt delivery China agreeing to $13,000 basis 3/5 months period charter.

 

Ultramax/Supramax

There was a definite split between the two basins during the week. The Atlantic overall was a solid affair with stronger numbers being discussed from both the US Gulf were tonnage remained tight and South America which saw increased activity. From the north, a 58,000-dwt was fixed delivery SW Pass trip Japan at $20,000, further south, a 63,000-dwt fixed delivery Tema trip via NC South Brazil redelivery China at $16,500. However, this positivity was not seen from Asia, a limited fresh enquiry failed to slow the growing number of prompt vessels. A 60,000-dwt fixing a trip from Indonesia to China in the mid $11,000s whilst a 55,000-dwt fixed delivery Indonesia for a trip redelivery WC Indian in the very low $13,000s. The only upside seemed to be a bit more activity in period cover, a newbuilding 64,000-dwt fixing ex yard Cebu for one year’s trading at $13,000.

 

Handysize

This week, the market showed mixed performance, with modest movements across both basins. In the Continent and Mediterranean regions, some fresh demand and increased activity were reported, though rates largely remained around last-done levels. For instance, a 40,000-dwt fixed a trip delivery Alexandria redelivery Continent with steels at $10,000. The South Atlantic remained relatively balanced with minimal movement, while in the U.S. Gulf, despite limited fixture reports, market fundamentals stayed firm, supported by a consistent flow of cargo. Meanwhile, across Asia, the market was largely flat, with both the tonnage list and cargo availability remaining stable across key loading areas. A 35,000-dwt fixed delivery Richards Bay for trip via Durban to redelivery Continent at $12,500.