Capesize

The Capesize market closed the week on a distinctly firmer footing, with gains building across both basins. The BCI 5TC advanced steadily, rising from just over $26,000 at the start of the week to $28,504 by close of play. The Pacific regained strength after a soft start, supported by consistent miner activity and a notable pickup in coal demand, with C5 rates gradually firming into the $10.90–$11.00 range as the week progressed. In the Atlantic, the picture was more nuanced. From South Brazil and West Africa to China, the market retained a clear contango structure, with early October weighed down by supply, while demand later in the month prompted vessels to position for forward laycans. As the prompt window cleared, sentiment improved, with C3 fixtures reported closer to $25. The North Atlantic also showed resilience, with healthy fronthaul demand and transatlantic activity driving notable gains on the back of tightening tonnage availability.


Panamax

Another softer week for the Panamax market as owners continued to feel the recent pressure, particularly in the Atlantic basin where owners’ resistance was hard to find with early tonnage and ballaster tonnage continuing to discount. The P1A route saw a dramatic correction as demand fell away, losing circa $4,000 week-on-week. Activity ex EC South America was minimal for index arrival dates, with earlier date arrivals heavily discounted this despite a sizeable number of deals concluded by grain houses. Asia returned good demand overall, rates appeared to have found a floor mid-week with owner’s resistance appearing more substantiated. Rates of low $14,500’s were seen on index duration trips on index types, whilst much of the Indonesia demand continued to be absorbed by smaller/older tonnage rates hovered around the low-mid $13,000’s mark all week. Period activity was minimal, although reports emerged of an 81,000-dwt delivery Thailand fixed for 2 years, index linked at 112% to the BPI82 index.


Ultramax/Supramax

Mixed fortunes for the owing side this week depending upon where vessels were open. Overall, the Atlantic maintained a healthy volume of demand both from the North and South Atlantic, although as the week came to a close sentiment was a little low from South America. From the US Gulf a 63,000-dwt was heard for 2 to 3 laden legs redelivery Singapore-Japan at $26,000. Further south, a 63,000-dwt was heard fixed basis delivery EC South America for a trip China at $16,500 plus $650,000 ballast bonus. Elsewhere a 52,000-dwt was fixed basis delivery West Africa for a trip via Kamsar redelivery Ireland at $18,750. A different story from the Asian arena despite demand being seen from the north for backhaul business sentiment was rather negative. A 56,000-dwt was fixed basis delivery Surabaya for a trip via Indonesia redelivery WC India at $17,000. Whilst north, a 64,000-dwt was fixed from North China to West Africa at $18,000 but this included steels.      


Handysize

This week, the market delivered a mixed performance with slight movements across both basins. The Continent and Mediterranean regions maintained their positive momentum, with rates edging slightly above previous levels, and the market appeared well-supported. For instance, a 34,000-dwt fixed a trip delivery North Continent via Baltic to East Mediterranean with scrap $18,000. In both the South Atlantic and U.S. Gulf, conditions appeared more balanced as demand gradually increased and rates showed modest improvement. Notable fixtures included a 38,000-dwt open Paranaguá 16/17 September delivery Santos trip to US Gulf with grains at $22,000 and a 39,000-dwt open New Orleans 25/28 September heard fixed fronthaul to India in the low $20,000s. Asian markets remained quiet, with reports of longer tonnage list in Southeast Asia and the North Pacific. Even so, rates held largely steady, with a 34,000-dwt fixed delivery Jebel Ali for a trip to WC India with bagged sugar at $12,950.