Capesize

The market delivered a mixed but generally constructive week, characterised by strong early momentum, a midweek pause, and a steadier close. Overall sentiment remained cautiously positive, underpinned by firm demand across key basins, though resistance at higher levels became more apparent as the week progressed. The Pacific was consistently supported by regular miner activity, with rates proving resilient despite some early-week softening. While C5 levels briefly eased, the market repeatedly found support in the mid-$10s before drifting lower to around $10.00 by week’s end. The South Brazil and West Africa to China market opened with a sharp improvement from prior levels, pushing fixtures into the mid-$20s before encountering resistance. As the week wore on, rates softened from their highs, though sentiment stabilised, with C3 showing renewed firmness toward the end of the week, where date sensitivity remained a defining feature. The North Atlantic experienced the most volatility, with strong midweek momentum driven by tightening tonnage and robust TA demand, followed by a quieter, more selective close.

 

Panamax

The sector experienced a consistently weaker trend throughout the week, with sentiment softening steadily amid a persistent lack of meaningful fixture activity across both the Atlantic and Pacific basins. Trans-Atlantic and fronthaul rates remained under sustained pressure as charterers continued to test lower levels, while owner resistance gradually eroded. In Asia, an oversupply of prompt Panamax tonnage weighed heavily on fundamentals, allowing charterers to push increasingly aggressive bids to secure early cover. Activity remained particularly quiet, with limited cargo replenishment, although some Indonesian tenders surfaced for smaller and older units. Period interest stayed subdued throughout the week. Overall, the P5TC index fell sharply, declining from $14,796 on Monday to $11,908 by Friday, reflecting the broad-based weakness across the sector.

 

Ultramax/Supramax

With the widespread long holiday season coming up sentiment softened in many areas during the course of the week. In the Atlantic, rates dropped with gusto from the US Gulf, an ultramax fixing in the mid-twenties for a trans-Atlantic run. The South Atlantic also saw a weakening a a 63,000-dwt fixing delivery Recalada for a trip Bangladesh at $16,250 plus $625,000 ballast bonus.  The Continent also lost ground a 63,000-dwt fining a scrap run from the United Kingdom to the Eastern Mediterranean at $20,750. A similar trajectory from the Asian arena, as limited fresh enquiry appeared and brokers spoke of an abundance of prompt tonnage. A 53,000-dwt open South China fixing an Indonesian round voyage at $7,200. Elsewhere, the Indian Ocean also saw a decline in interest, a 57,000-dwt fixing delivery Port Qasim via the Arabian Gulf redelivery Bangladesh in the mid $15,000s.   

 

Handysize

Another challenging week for the sector with rates in both the Atlantic and Pacific regions facing continued downward pressure. The Continent and Mediterranean markets remain subdued, with very little activity reported and rates slightly lower than previous levels. A 37,000-dwt fixed a trip delivery Canakkale via Constanta to Tekirdag at $11,250. In the South Atlantic and U.S. Gulf, sentiment stayed weak, as the tonnage count continues to build, further putting pressure on rates. A 35,000-dwt heard fixed for delivery Recalada to Fortaleza with grains at $21,000 and a 36,000-dwt fixed delivery Barranquilla to Brazil with coal at $17,000.  Meanwhile, the Asian market maintained its negative tone, showing no signs of recovery.  A 28,000-dwt heard fixed for a trip delivery Singapore via SE Asia to Yantai with copper concentrates at $9,000.