Capesize faced mixed performance, Panamax saw steady gains, Ultramax/Supramax had varied activity, and Handysize showed minimal movement with slight improvements in the US Gulf, but weaker South Atlantic conditions, reports balticexchange.
Capesize
The Capesize market experienced a mixed week, beginning with positive sentiment but gradually facing increasing pressure. It was a slow start, although optimism remained as the BCI 5TC rose by $400 to $28,232, driven by limited but stronger Pacific fixtures. However, cargo volume and market momentum began to wane, particularly in the Pacific, leading to a decline in both the C5 and C3 markets. This softening trend persisted through midweek, although Wednesday showed a slight recovery with an increase in Pacific volumes and a modest rise in the BCI 5TC to $27,986. Towards the end of the week, market sentiment deteriorated further, with dwindling supply of September cargoes from West Australia to China adding increased pressure on rates. Despite some coal cargo support, both the C5 and C3 markets fell, culminating in a $2,612 drop on the week on the BCI 5TC which settled today at $25,620.
Panamax
A week for the optimists in the Panamax sector with steady rises throughout the Atlantic and Asian markets, although we seemed to have reach a period of consolidation as the week ended. From the Atlantic basin, we saw decent levels of both grain and mineral demand versus a limited tonnage list, creating the perfect storm for owners, reports of low $10,000s achieved for a trans-Atlantic trip via US Gulf delivery this side. South America focus concentrated on end September/early October arrival with several deals concluded at mixed rates. Asia’s support was mostly NoPac centric, ably bolstered by solid mineral demand ex Australia and Indonesia enabling rates to climb from the doldrums of recent weeks, rates with options via NoPac and Australia concluded a couple of times at $14,750. A host of period deals concluded both fixed and index linked, $15,500 achieved on an 82,000-dwt delivery Korea basis 5/7 months trading.
Ultramax/Supramax
A rather varied week for the sector. The Atlantic could be described as patchy, whilst the US Gulf gained momentum with a stronger cargo flow, the South Atlantic lacked fresh impetus and downward pressure remained. The Continent-Mediterranean also saw limited fresh enquiry although some said there was still a reasonable amount of scrap moving. This was not sufficient for the market to gain much traction from an owners’ perspective. In the US Gulf, 63,000-dwts where fixing in the low – midish $20,000s for trans-Atlantic runs. From the South Atlantic ultramaxs where fixing in the mid-teens plus mid $500,000s ballast bonus. The Asian arena remained a slightly more positive affair, although with widespread holidays in the upcoming week, it remains to be seen if this momentum will continue. A 63,000-dwt open Koh Sichang fixing a trip via Indonesia redelivery WC India at $15,000. Further north, a 56,000-dwt fixed delivery North China for a trip to the Red Sea in the mid $16,000s.
Handysize
The Handysize market saw minimal visible activity across both basins this week. In the Continent and Mediterranean, the market fundamentals remained unchanged with sentiment appearing positional. Towards the weekend, the US Gulf showed some signs of improvement with some fixing activity recorded across various vessel sizes, and prompt tonnages began to clear slightly. A 39,000 DWT vessel was reported fixed from Panama City to the UK-Continent with wood pellets at $16,000. However, the South Atlantic market remained soft with only a few positional fixtures and limited positive indicators. In the Pacific market, rates were stable, and there was a sense of underlying support.
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Source: balticexchange
