There is increasing demand for shipping services out of Western Australia, with inquiries coming from miners and operators for mid-November and early December. While the situation in Eastern Australia remains relatively stable, there is less activity in other parts of the Pacific. In the Brazilian market, there is demand for C3 vessels for the second half of November and early December, reports Fearnleys.
Capesize
West Africa volumes remain relatively robust. Far East spot tonnage is abundant with a notable number of prompt vessels. Ballasting tonnage is heavy for second half of November. On C5, the week started with fixtures concluding at mid USD 8 pmt levels and remained flat till mid-week. On C3, fixtures concluded at low-mid USD 20 pmt levels. We see some resistance with bids in the USD 19 pmt levels and offers at USD 22 pmt levels for second half of November dates.
Panamax
This week’s Panamax market reflects a cautiously mixed outlook shaped by regional variations and upcoming seasonal shifts. While coal demand for winter could catalyze a rate rebound, the market remains broadly moderate with two more weeks of expected sluggishness. In the North Atlantic, grain trades continue to command a premium, while a moderate tonnage supply has supported slight transatlantic gains, with time charter rates around USD 9,500. Fronthaul, however, remains static as owners continue to prefer trip-out fixtures, limiting immediate upside potential.
Asia presents a similarly muted landscape, with limited trades and mixed sentiment suggesting a soft floor but insufficient demand to lift rates. Meanwhile, East Coast South America faces noticeable tonnage oversupply, compelling owners to settle for lower rates on November liftings. Without a sustained push in cargo flow, fundamentals will likely stay constrained, especially in the Atlantic basin, where fresh demand will be critical to supporting any rate improvements.
Supramax
Slow start to the week. Past week has been relatively quiet except for the fresh influx of cargoes especially in west Africa early this week – cargo covered well below last done levels given ample tonnage in the region. In Asia, the market picked up start of the week with fresh volumes taking up the available tonnages.
The Handysize market remained positive, however the Continent and Mediterranean remains relatively weaker. Market fundamentals in the US Gulf and South Atlantic stay strong, contributing to a positive outlook. With the grain season coming up, we expect more volumes out of ECSA in the coming weeks. Period market is slow with fewer fixtures reported this week.
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Source: Fearnleys
