Capesize

The Capesize market recorded a notable improvement this week, with momentum building steadily across both basins. After a slow start on Monday, activity gathered pace from Tuesday onward as improved demand and a tightening tonnage list drove gains throughout the week. In the Pacific, sentiment recovered gradually, initially muted before strong miner demand midweek pushed C5 rates from the low $9s to above $10.50, before easing slightly to around $10.35 by week’s end. The Atlantic followed suit, with South Brazil and West Africa to China routes firming as C3 fixtures advanced from the low $22s to the mid–high $23s. The North Atlantic, initially quiet, also gained traction later in the week, with transatlantic rates rising toward $30,000 amid tightening tonnage and increased demand. All in all, it was a positive week, with the BCI 5TC opening at $23,955 on Monday and climbing steadily to close at $27,709.

 

Panamax

A mixed week for the sector with no real clear direction as areas such as the North Atlantic saw rates under pressure for most part only to consolidate towards the back end of the week. Similarly, the South Atlantic saw renewed decent demand on fronthaul business for first half December which gave owners some hope. The headline rate seemingly reports of a scrubber fitted 81,000-dwt fixing delivery PMO for a trip via EC South America redelivery Singapore-Japan at $19,000, the scrubber benefit heading to Charterers. From Asia, the week saw increased volume of coal requirements ex Australia and Indonesia, less so NoPac with sentiment firm throughout the week. A nicely described 84,000-dwt delivery Japan for a trip via EC Australia redelivery Japan achieving a strong $18,500, whilst ex Indonesia index type tonnage were able to achieve varying rates ranging from $17,000 to $19,500 highlighting well the firm push here. Period activity was limited but did include reports of an 82,000-dwt delivery North China fixing at $17,500 basis 5/7 months trading.

 

Ultramax/Supramax

A positional week overall. The US Gulf and South Atlantic seeing renewed interest as the week progressed with stronger rates being discussed from the US Gulf. The South Atlantic slowly strengthened, a 62,000-dwt fixing at $17,000 plus $700,000 ballast bonus for a trip to Chittagong. By contrast the Continent-Mediterranean lacked fresh impetus and rates struggled to gain any traction. The Asian arena also was a patchy affair demand grew slowly throughout the week from the south. A 63,000-dwt fixing delivery Gresik for a trip via Indonesia redelivery China in the upper $16,000s. Further north, it remained lacklustre a Nacks 64 fixing delivery North China for a NoPac round in the low $16,000s. Activity remained from the Indian Ocean, a 57,000-dwt was heard fixed delivery South Africa for a trip to the Arabian Gulf at $18,000 plus $180,000 ballast bonus. Whilst a 63,000-dwt fixed from the Arabian Gulf to WC India at $14,000. 

 

Handysize

The market endured a generally subdued week, with soft sentiment prevailing across all regions. In the Continent and Mediterranean, the market remained largely positional, with minimal activity and rates slipping below previous levels. A 40,000-dwt unit was reportedly fixed for a trip via the Black Sea to West Africa at around $15,000. The South Atlantic and U.S. Gulf were similarly quiet, with few fixtures reported as some owners opted to discount to secure employment. Among these, a 32,000-dwt was fixed for a trip delivery Recalada to Fortaleza with grains at $18,250, while a 37,000-dwt was fixed delivery Houston for a trip redelivery Veracruz with scrap at $21,000. The Asian market mirrored same tone, showing little movement and limited fresh demand, with a 38,000-dwt open CJK 6–8 November were placed on subjects for an Australian round trip at $12,000. On the period side, a 39,000-dwt new-building was fixed for two years at 120.5 percent of the BHSI index. Overall, the tone across both basins remained soft and market sentiment lacking clear direction.