Capesize

The market enjoyed a notably bullish week, recovering strongly after the UK holiday-shortened start and building momentum across both basins. Early weakness in the Pacific quickly proved short-lived as sustained miner participation tightened available tonnage and restored confidence. By midweek, all major miners were actively fixing, driving C5 steadily higher and attracting increasingly aggressive operator bids. Rates rose from the mid-$15s at the start of the week to around high $18s, reflecting tighter prompt tonnage and firmer owner resistance.

The Atlantic also strengthened, with robust demand from South Brazil and West Africa, coupled with healthy North Atlantic fronthaul enquiry, steadily reducing vessel availability and lifting sentiment. C3 increased from the high $38s to above $41 for later dates. North Atlantic sentiment improved alongside stronger cargo volumes against a relatively stable tonnage list, although activity remained more limited than in the Pacific. Overall, market confidence strengthened considerably as the week progressed, with the BCI 182 5TC reaching a fresh year-to-date high above $58,000.
 

Panamax-Kamsarmax

This week saw continued strength in the Panamax market, with positive sentiment driving rate gains across both the Atlantic and Pacific basins, and pushing the P5TC steadily higher throughout the week. In the Atlantic, transatlantic and fronthaul activity remained active, supported by sustained demand for September cargoes, although concerns emerged later in the week regarding limited cargo replenishment and increasing tonnage availability. Notable fixtures included an 83,000-dwt vessel fixing a US East Coast to Poland trip at $23,000 and an 81,000-dwt vessel fixing a transatlantic round trip at $21,250. Owners continued to favour Atlantic employment over trips to the Far East, further supporting fronthaul rates. A 77,000-dwt vessel fixed basis delivery Haldia for an EC South America fronthaul at $22,500. In the Pacific, strong Australian and Indonesian coal demand, improving export prospects, and Capesize stem splits provided further support. An 82,000-dwt vessel fixed a North Pacific round voyage at $23,750, while another 82,000-dwt vessel fixed for a trip via Indonesia to South Korea at $22,750. Period activity was also evident, with an 82,000-dwt fixing for two years period at $19,500 and another fixing for short period at $18,750.


Ultramax/Supramax

Most of the market trended sideways this week, with the notable exception being the US Gulf, which almost returned to the levels seen two weeks ago. A 63,000-dwt fixed a grains cargo from South West Pass to China at $31,000 and a slightly smaller 61,000-dwt fixed grains to Egypt at $32,000, although at the end of the week we awaited details of stronger rumoured fixtures. Further south, the market was supported by the higher Panamax rates with multiple 63,000-dwt vessels reported at around $19,000 plus $900,000 ballast bonus from East Coast South America to the Far East, and a larger 66,000-dwt said to have fixed at $24,000 delivery West Coast India via South America to China.

On the Continent there was little change with sufficient scrap enquiry to maintain rates, with two 58,000-dwt units reported fixed at $22,000 basis the Continent for trip East Mediterranean. However, the Mediterranean market suffered with a lack of fresh demand that didn’t have a vessel already as a backstop. North Asia remained firm with continued North Pacific grains emerging as a 64,000-dwt fixed from Japan at $21,000 for the round, and backhaul activity lending support, whilst rates from Indonesia softened slightly in quieter trading. Rates from South Africa consolidated with a few 63,000-dwt vessels covered at $25,000 plus $250,000 ballast bonus for trips back to the Far East, and the period market stuttered as charterers struggled to secure suitable first employment to justify rates being asked.
 

Handysize

The market opened September on a steady-to-firmer note, with sentiment largely positional across both basins. Across the Continent and Mediterranean, activity remained limited, although rates began to show signs of firmness towards the end of the week. The US Gulf and South Atlantic showed healthier momentum, supported by fresh demand and a balanced cargo-to-tonnage position, with several fixtures reported, particularly from the US Gulf. A 39,000-dwt open Mobile 15 September fixed for a trip delivery Panama City to the UK-Continent with pellets at $18,000, while a 38,000-dwt fixed from Recalada to WC South America in the high $20,000s. Across Asia, sentiment remained positive, with activity gaining pace and several fixtures concluded above previous levels, supported by a generally healthy balance between tonnage availability and cargo demand. A 43,000-dwt open Acajutla mid-September fixed via NoPac for redelivery Singapore-Japan at $17,000. Period activity was also evident, highlighted by the 40,000-dwt fixing for one year at $17,500.