Capesize

The market delivered a firm performance this week, characterised by early strength, a mid-week surge and a measured correction thereafter. Positive momentum was established in the Pacific, where steady miner activity and tightening tonnage lists kept C5 values anchored in the low-to-mid $12s. While sentiment eased slightly toward the end of the week, the return of additional miners helped maintain underlying support. The defining feature of the week was the pronounced tightness in the North Atlantic, which triggered a sharp mid-week rally. Exceptionally scarce tonnage and a couple of standout Seven Islands fixtures propelled trans-Atlantic and fronthaul rates markedly higher, pushing the BCI 5TC upward to reach $44,000. The South Brazil and West Africa to China market also showed incremental improvement, with C3 levels edging higher mid-week on fresh fixtures before quietening again toward the week’s close. 

 

Panamax

The week opened on a softer tone as prompt tonnage increased across the Atlantic and Asia, pushing owners to become more negotiable and easing last week’s firmness. Through Tuesday and Wednesday, limited fresh enquiry failed to offset rising vessel supply, keeping sentiment muted while charterers remained selective, particularly in the Pacific where Indonesian and NoPac trades stayed under pressure amid swelling tonnage lists and weaker grain demand. Period activity was fairly active with several reported fixtures. By Thursday, the Atlantic saw brief support following a sharp Cape rise and talk of possible stem splits, but wide bid-offer spreads and limited cargo flow capped gains. Overall, cautious charterers, resistant owners and ample tonnage continued to weigh on market momentum, with the P5TC sliding to $16,767. 

 

Ultramax/Supramax

Brokers described a somewhat positional week for the sector during the course of the week. The Atlantic started in a fairly subdued manor but as it progressed it became clear that the US Gulf saw a return to strong demand and better levels being achieved. A 52,000-dwt was heard to have been fixed in the low $30,000s for a US Gulf trans Atlantic run. An altogether more negative tone from the South as demand weakened, a 63,000-dwt fixing delivery Santos trip to Karachi at $16,750 plus $675,000 ballast bonus. A similar story from Asia, as demand waned and rates came under negative movement. A supramax was heard fixed in the upper $15,000s delivery SE Asia trip via Indonesia redelivery China. Stronger demand was seen from the Indian Ocean, a 63,000-dwt was heard being fixed basis delivery EC India trip via South Africa redelivery China at $17,000. With the Christmas season soon to be upon many, it remains to be seen how things will progress.       

 

Handysize

The market displayed a mixed performance this week, with some regions holding steady while others recorded stronger gains. In the Continent and Mediterranean, activity was limited, with only marginal improvements as rates edged slightly higher than previous levels. A 38,000-dwt was fixed for a trip delivery Continent for a trip to US East Coast at $15,000.  The U.S. Gulf and South Atlantic held very firm, supported by a very tight tonnage list that encouraged charterers to gradually increase their bids, as a 40,000-dwt reported fixed from Port Alfred for a trip via St Lawrence to Casablanca with wheat at $24,000 and a 37,000-dwt was reported fixed delivery Santos via Argentina to Dakar with grains at $20,150. Meanwhile, Asia remained subdued, with fundamentals broadly stable and rates hovering near last-done levels, as a 43,000-dwt open Adelaide 20th December fixed for a trip from Bunbury to China with alumina at $17,500.