Capesize

The Capesize market started the week on a softer note but gradually reversed course from mid‑week as both basins lent support. The Capesize 5 Timecharter average (C5TC 182) opened at $25,692 and closed at $28,849, marking a $3,157 rise over the five trading days. Among all routes, the transpacific run delivered the strongest contribution to this week’s overall gains prior to the Pacific market heading to Chinese New Year holidays. The C5 West Australia to Qingdao route lifted mid‑week to $9.378 before soft landing at $9.272 by the close. A similar pattern emerged on the C3 Brazil to Qingdao route after the laycan window fully shifted into early‑March dates. The route traded in the mid $24s for second half March loading but eased to $23.923 by Friday. The North Atlantic region was active before the weekend approached, with the transatlantic and fronthaul run marked at $34,344 and $55,028 respectively.
 

Panamax

The week closed on a firmer note overall, with sentiment improving across both basins despite some late divergence. Early signs of prompt transatlantic demand set the tone, and activity built steadily through midweek as charterers moved to secure nearby tonnage. Grain flows from East Coast South America remained consistent, while North Coast South America and the US Gulf provided additional Atlantic support, although momentum eased slightly toward the end of the week as rates began to stabilise.

In the Pacific, strength was more pronounced. Indonesian short-haul business tightened prompt supply, while Australian and NoPac runs generated healthy enquiry and fixing volumes. Period interest also remained active. Reflecting the improved sentiment, the P5TC average climbed from $14,829 on Monday to $15,989 by Friday, marking a solid week-on-week gain.
 

Ultramax/Supramax

Position was the key this week depending on which side of the fence you are. The Atlantic saw strong gains from key areas like the US Gulf. Brokers saw Ultramax vessels reach more than $30,000 for fronthaul business and mid $30,000s for transatlantic runs. Stronger demand was also seen from the South Atlantic, a 62,000-dwt fixing a trip to the Arabian Gulf at $17,000 plus $700,000 ballast bonus, from there. By contrast from Asia, charterers remained in the driving seat with little fresh enquiry appearing from both the north and south. A 60,000-dwt vessel was fixed delivery Philippines via Indonesia, redelivery South China at mid $10,000s, whilst a 57,000-dwt was fixed delivery SE Asia via West Australia, redelivery Indonesia, at $14,000 with salt. The Indian Ocean remained a bit more active, with a 63,000-dwt fixing delivery Mina Saqr trip Bangladesh at $16,000. Period cover was short, a 57,000-dwt open in the Mediterranean fixing 5 to 7 months trading redelivery worldwide in the low $14,000s.
 

Handysize

Handysize market showed gradual improvement in the Atlantic, while the Pacific remained under pressure, resulting in a mixed but steadily firmer tone overall. The South Atlantic and US Gulf were the clear outperformers of the week. Active transatlantic business, combined with tight tonnage for February dates, supported higher numbers. A 36,000-dwt was fixed from Recalada to Algeria at $20,000, while a 40,000-dwt fixed from Mississippi River to EC Mexico at $22,000. The Continent–Mediterranean stayed generally balanced, with only marginal firming seen. A 38,000 dwt, open Aveiro, was fixed via Morocco to EC South America at $6,700. The Pacific market remained soft throughout the week, as limited cargo flow and a growing tonnage list continued to weigh on rates. A 41,000 dwt, open CJK (7–10 February), was fixed to Southeast Asia at $7,000. On the period side, activity picked up modestly, with a number of fixtures reported. A 40,000-dwt was reported fixed for delivery Far East, redelivery worldwide, for 3 years at 120.5% of BHSI.