Capesize

The Capesize market retained an overall firmer tone through the week, though momentum eased into the close. The BCI 5TC advanced from just under $28,000 at the start of the week, pushing through the $30,000 threshold before easing slightly to finish at $30,076. In the Pacific, miner presence was initially strong, ranging from two participants to a full slate early on, but activity thinned by Friday, with just one miner fixing at $10.80, while reports of low $11s being paid lacked clarity, while another miner was said to have paid sub $11.00. Despite Typhoon Ragasa passing through South China midweek, overall rates held reasonably steady, supported by a tighter tonnage list. In the Atlantic, the C3 index climbed toward $26.00 earlier in the week, but with a lack of fresh bids by week’s end and reports of fixtures slightly below, the C3 index slipped back to $25.935 by Friday. The North Atlantic also posted notable gains early in the week, with fronthaul values breaking into the $50,000s and transatlantic trades strengthening, though activity also slowed toward the close.

 

Panamax

The Panamax market began the week mostly on a firm footing with the continued bullish trend particularly in Asia carrying on from the back of last week's push. Conversely the Atlantic began nervously with limited fresh demand in the North of the basin for trans-Atlantic trips pitted against an ever-expanding tonnage count. South America was steady rather than exhilarating with first half October arrivals still commanding a premium over index dates which hovered between low $15,000’s and $16,000 on the week. In Asia, steady support for Australia minerals throughout the week gave some impetus to the market, with mean average rates returning around the low-mid $15,000’s, rates ex NoPac perhaps at a discount to this with a distinct lack of volume this week. With healthy Indonesia demand continuing in Southeast Asia positions, there was good demand from all angles.  Some period activity of note with several deals reported the highlight an 82,000-dwt delivery Japan achieving $15,500 basis 1 year’s trading.


Ultramax/Supramax

Two sides of a coin over the past week for the sector, as the Atlantic remained firm whilst on the flip side the Asian arena lost further ground. The Atlantic remained a robust affair with continued demand from key areas. The US Gulf saw a 63,000-dwt fix a trip to India at $34,750. Further south an ultramax was heard to have been fixed basis delivery Santos for a trip to China at $17,500 plus $750,000 ballast bonus. Strong demand was seen from the Baltic a 63,000 open Turkey was heard fixed for a trip via Lower Baltic to China transiting via the Cape of Good Hope in the low $20,000s. By contrast the Asian arena saw limited demand and a build up of prompt tonnage. A 53,000-dwt fixing delivery Singapore trip via Indonesia redelivery China at $14,000. A little more action from the Indian Ocean saw rates push up a bit, a 63,000-dwt fixing delivery Port Elizabeth trip to China at $20,000 plus $200,000 ballast bonus.


Handysize

Overall, it was a positive week, with rates firming across most loading regions. In the Continent–Mediterranean, the market remained healthy, with a steady demand-supply balance, particularly from North Continent and Baltic, where several strong fixtures were reported. Notably, a 35,000-dwt was fixed delivery Gdansk via Baltic to Dakar with grains at $18,500. Although reported activity was limited, the South Atlantic and US Gulf continued to show gradual improvement, with tighter tonnage availability. Reported fixtures included a 38,000-dwt fixed delivery Abidjan via Upriver for redelivery East Mediterranean at $16,500, and a 39,000-dwt fixed delivery Houston via Mississippi River to East Mediterranean at $23,500. In Asia, the market remained resilient, with shifts in the cargo-to-tonnage ratio keeping rates largely flat. A large handysize was reported fixed from the Far East to WC India at $17,000.