Capesize rates fluctuate with mixed activity, Panamax faces growing pressure and rate erosion, while Supramax and Handysize markets show mixed performances with stable demand in the Atlantic and softening in Asia, reports Fearnpulse.
Capesize
On the West Australia front, we see enquiries primarily from miners and tenders primarily for early November dates. Lesser activity was seen from operators this week though some have started enquiring for second half of November forward dates. Volumes out of East Australia have picked up from last week. Relatively little activity on other fronts of the Pacific. Reasonably healthy volume out of South Africa with few tenders. On C3 ex Brazil to China, we see operators enquiring for primarily second half of November dates. Far East spot tonnage is abundant with a notable number of prompt vessels deciding to ballast. Resulting ballasting tonnage is heavy for November. On C5, the week started off with fixtures concluding at high USD 8 pmt levels and dropping to mid USD 8 pmt levels the day after. Approaching mid-week, there is a bounce back to mid-high USD 8 pmt levels. On C3, fixtures concluded at low-mid USD 21 pmt levels but retreated to low USD 20 pmt levels by mid-week.
Panamax
This week in the Panamax market started slow, with owners reducing their rate expectations as tonnage lists grew in both the Atlantic and Pacific regions. The Indonesian market held up better, but a long tonnage list for ECSA added pressure. The general sentiment remained negative, with expectations of further rate erosion despite some improvement in Atlantic enquiries and softening conditions in the East.
Supramax
The market saw a mixed week. In the Atlantic, the US Gulf continued to show demand for fronthaul business, but transatlantic rates softened as recent gains stalled. The Mediterranean showed improved demand. In Asia, the gradual decline continued, with limited fresh inquiry and minimal changes in the Indian Ocean. The Handysize market remained positive, with rates edging higher in the Atlantic, particularly in the Continent and Mediterranean. Market fundamentals in the US Gulf and South Atlantic stayed strong, contributing to a positive outlook. In the Pacific, the market remained stable with some new orders, but tonnage availability increased.
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Source: Fearnpulse
