On the West Australia front, participation from miners and operators is seen primarily for the mid to second half of September dates. Volumes out of East Australia have held up since last week with charterers enquiring for mid to late-September dates, reports Fearnpulse.
Capesize
On C3 ex Brazil to China, we see interest for the second half of September onwards with several operators seeking for the first half of October dates.
Far East spot tonnage is relatively abundant while ballasting tonnage is thinning for the second half of September with limited vessels still able to meet the first half of September dates. On C5, we see fixtures concluding at low to mid-USD 11 pmt levels. On C3, we see fixtures concluding at low USD 27 pmt levels for late September.
Panamax
This week in the Panamax market, the overall activity remained subdued, particularly following the UK bank holiday, which contributed to a slow and uneventful opening. In the Atlantic, rates continued to decline as a result of increasing tonnage and weak demand, especially with the ongoing absence of US grain and mineral shipments. The market in the Pacific also remained quiet, with little activity reported, as the start of the US grain season has yet to begin, although there is speculation that conditions may improve in September. Notably, the Kamsarmax index has dropped significantly below the BSI58 index, a trend which, since 2018, has typically been followed by a market rebound, suggesting potential recovery ahead.
Supramax
This week’s Handy and Supramax markets presented a mixed view. The Supramax experienced positive momentum in the US Gulf, where increased activity led to slightly higher rates, although options were limited for vessels opening in the South Atlantic. In contrast, the Continent and Mediterranean regions faced softer sentiment due to ample available tonnage following the clearing of most August stemsThe Handy market was generally quiet, with limited activity and negative sentiment in the South Atlantic, but the US Gulf showed signs of improvement as fresh demand entered the market.
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Source: Fearnpulse
