Capesize

The Capesize 5TC remained firm from Tuesday and accelerated in the latter half of the week, breaking through the $30,000 threshold and eventually landing at $31,756 on Friday, gaining over $6,000 week-on-week. In the North Atlantic, a long cargo list and tight tonnage supply supported strong transatlantic and fronthaul fixtures. Currently a transatlantic round voyage is paying approximately $42,000 and a fronthaul timecharter trip is commanding above $60,000 per day. In Brazil, steady upwards pressure from higher bids and offers throughout the week pushed the Brazil to China route to $24.745 for end August laycan, reflecting a rise of $1.70 over the week. In the Pacific, C5 surged by over 50 cents to $10.575 on Thursday, marking a new six-week high but easing slightly to $10.285 on Friday amid reduced trading activity heading into the weekend. On the period front, a Newcastlemax delivery in North China next month was reportedly fixed at $30,000 for a period of 3 years.

 

Panamax

It proved to be a negative week for the Panamax market with rates easing across the board. The Atlantic remained predominantly fronthaul led with a steady grain cargo flow ex NC South America, continuing the recent theme of decent mineral demand ex US east coast to India, reports circulated mid-week of an 81,000-dwt delivery Gibraltar at $29,000 for said run. However, with an easing trans-Atlantic market the plentiful nearby ships available in the North came under pressure with reduced rates appearing, with no obvious signs of any floor. In Asia, despite steady volume for the early part of the week ex Australia less so NoPac, rates unsurprisingly began to ease, and with South America not offering much support seeds of doubt were being sown across the basin. An 82,000-dwt delivery Japan was able to achieve $15,250 for a trip via Australia redelivery Japan. Period activity was minimal but amongst the few deals reported, a scrubber fitted 82,000-dwt delivery Japan was reported fixed at $15,500 basis 11/13 months employment.

 

Ultramax/Supramax

Two sides to the coin this week as the Atlantic came to a grinding halt whilst it remained fairly positive from the Asian side. They key areas in the Atlantic lost traction with little fresh demand and rates feel to the low $20,000s for the ultra size for fronthaul direction. A similar story from the South Atlantic with owners’ options remaining limited. A 58,000-dwt was heard to have been fixed delivery Recalada trip to Iraq in the upper $15,000s plus upper $500,000s ballast bonus. The Indian Ocean remained rather flat, a 58,000 fixing delivery Port Elizabeth trip to the Far East at $16,000 plus $170,000 ballast bonus. Stronger sentiment remained from Asia, in the north a 53,000-dwt fixed a backhaul delivery CJK redelivery West Africa at $16,000. Further south a 63,000-dwt was heard fixed delivery Singapore trip via Indonesia redelivery China in the mid $18,000s. It remains to be seen if the upcoming week will see any further change.

 

Handysize

This week, the Handy market delivered a mixed performance, with modest fluctuations across both basins. The Continent and Mediterranean regions remained subdued, with rates holding largely steady. A 34,000-dwt was fixed for a trip from Safi to the ARAG with gypsum at $13,000. In the South Atlantic, activity was notably limited, and rates began to soften. In contrast, the U.S. Gulf saw a more active week, with several fixtures concluded, though rates stayed broadly unchanged. Fixtures involved a 37,000-dwt fixed from SW Pass to East Coast Mexico with scrap at $15,500. Meanwhile, the Asian market continued its upward trend, supported by tightening tonnage, which contributed to modest rate gains in some areas. A 34,000-dwt, open prompt in Lanshan, was fixed for a trip via North China to Malaysia at $13,250.