- The weekly bulk shipping report provides insights into the performance and dynamics of different segments in the shipping industry.
- Capesize, Panamax, Ultramax/Supramax, and Handysize vessels experienced varied conditions, influenced by factors such as coal demand, port closures, and regional trade patterns.
Capesize Market Overview
The capesize market witnessed a mix of subdued and positive conditions. The Pacific region initially faced a decline in rates due to a lack of coal demand and North China port closures. However, a positive turn occurred later in the week, driven by increased volumes, coal resurgence, and longer cargo lists. The Atlantic showed a shift towards positional conditions, with premiums for prompt arrivals. The week concluded with an uptick in BCI 5TC rates, reaching $16,837.
Panamax Market Dynamics
The Panamax market experienced steady declines throughout the week. Heavy ballast lists and increased tonnage count led to limited resistance from owners, resulting in lower bids from charterers. Both the Atlantic and Asia saw declining trends, with lackluster demand and discounted rates for limited coal trades to India. The week reflected a generally bearish sentiment in the Panamax segment.
Ultramax/Supramax Market Insights
The Ultramax/Supramax segment had a mixed week, characterized as positional. The Atlantic saw increased demand from the US Gulf for fronthaul business, leading to rate increases. However, the South Atlantic experienced a lackluster week. Limited fresh enquiry from Asia added to owners’ challenges, with healthier rates observed in the Indian Ocean. Period interest remained, with various vessel sizes and routes seeing fixing activities.
Handysize Sector Observations
The Handysize sector had a subdued week with limited visible activity across both basins. The US Gulf faced a lack of cargo enquiry, and the South Atlantic saw a stall in the recent upward trend. Limited opportunities for owners were noted in Asia, with impending Chinese New Year holidays affecting fresh enquiry. Rates for different routes and cargo types varied, reflecting the overall subdued nature of the Handysize market.
The overall bulk shipping market exhibited diverse trends, influenced by regional factors, trade patterns, and specific segment dynamics.
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Source: Baltic Exchange
