Capesize

The Capesize market experienced a mixed and somewhat volatile week, marked by early weakness followed by a midweek rebound and gradually firmer sentiment, particularly in the Atlantic. In the Pacific, despite steady miner activity on C5, freight rates fluctuated, slipping as low as $9.55, rebounding midweek to $10.40 before easing back to $10.00 and eventually ending the week at $10.60. In contrast, the South Brazil and West Africa to China markets saw steady activity. While early fixtures pointed to softer levels in the low $23s on C3, midweek gains and healthy cargo flow provided support, with standard vessels continuing to command a premium as fixtures climbed to $25.00 by Friday. The North Atlantic was the standout performer, gaining momentum midweek after a quiet start. Both Transatlantic and fronthaul routes firmed on the back of fresh demand and tightening supply, with Transatlantic rates rising from around $25,000 to $30,000 and fronthaul levels reaching the low $50,000s. The BCI 5TC posted a net weekly gain, rebounding from early declines to close at $27,716.

 

Panamax

After last week’s rather subdued market, it was a more positive week overall for the Panamax sector. Stronger levels of enquiry were seen from the South Atlantic, despite a lack of interest from the North Atlantic, owners remained optimistic throughout the week. The demand from South America was the P6 route achieving in the mid-upper $14,000s. However, limited fresh enquiry from the North Atlantic saw an 83,000-dwt fixing from the United Kingdom via Narvik redelivery Continent at $17,500. With the extra demand from the South Atlantic, gradually better levels were seen for Southeast Asian business, with an 82,000-dwt fixing delivery Tanjung Bin via Indonesia redelivery Japan at $18,000. There was also a reasonable amount of activity from Australasia. An 82,000-dwt fixing delivery China via EC Australia redelivery India at $14,750. Period activity remained a slightly relaxed affair, but an 82,000-dwt open China fixed 3/6 months trading redelivery worldwide in the mid $14,000s.

 

Ultramax/Supramax

Although it was generally a positive affair overall, the Atlantic could be described as rather positional during the course of the week. Demand returned at pace from the US Gulf drawing owners interest from both the Continent and Western Mediterranean. A 60,000-dwt was heard fixed from the US Gulf for a trip Singapore-Japan at $27,750 while a 58,000-dwt was fixed delivery SW Pass trip to the East Mediterranean at $26,000. By contrast the South Atlantic struggled to gain much traction, with a 63,000-dwt was heard fixed from Santos to Chittagong at $14,000 plus $400,000 ballast bonus. After a relatively slow start from Asia, demand picked up both from Southeast Asia and further north, with a 56,000-dwt fixing delivery South China via Vietnam redelivery Bangladesh at $19,500. Increased demand was also seen in the Indian Ocean, albeit based around South Africa. A 64,000-dwt fixing delivery Port Elizabeth for a trip to China at $21,000 plus $210,000 ballast bonus. 

 

Handysize

The market delivered a mixed performance this week, with only modest movements across both basins. In the Continent and Mediterranean, some fresh demand and increased activity were noted, although rates generally held around last-done levels. For instance, a 32,000-dwt fixed a trip via France redelivery Turkey with scrap at $9,500. The South Atlantic remained relatively soft, with limited information emerging, while the US Gulf retained firm fundamentals, supported by a steady flow of cargo. A 34,000-dwt was fixed delivery SW Pass 16–24 August for redelivery to WC Central America at $15,750. On the Asian front, despite limited fixture reports, the market sentiment maintained a firm tone. A 38,000-dwt fixed delivery Cigading for trip to redelivery Continent at $15,000.