Capesize, Panamax, and Supramax markets remain under pressure, with weak demand, oversupply, and declining rates. Minimal fixtures and limited activity characterize a subdued market heading into the holidays, reports Fearnpulse.
Capesize
On the West Australia front, miners and operators enquiring primarily for early January dates. Overall, the number of players enquiring for freight have dropped compared to last week. Volumes out of East Australia remain flat with a decent number of WCSA enquiries for late January to early February dates. For C3 ex Brazil to China, some operators are out primarily for second half of January. On the West Africa front, there seems to be some delays experienced. Far East spot tonnage remains heavy for prompt, spot and several positions coming up for forward dates. Ballasting tonnage level remains ample for full January with some still able to make late December dates. On C5, we see fixtures concluding at low-mid USD 7 pmt levels on Monday, retreating to mid-high USD 6 pmt levels by mid-week. On C3, fixtures concluded at low-mid USD 16 pmt levels for mid January.
Panamax
The Panamax market has faced further downward pressure this week, with rates continuing to slide amid weak sentiment and oversupply across both the Atlantic and Pacific regions. In the Atlantic, despite slightly improved transatlantic volumes, the abundance of available tonnage – particularly in the East Mediterranean – has kept rates under strain, while fronthaul routes remain depressed due to limited Black Sea activity and pressure from ballasting towards Gibraltar. The Pacific saw minimal cargo replenishment, with bid-offer spreads narrowing further as vessel oversupply continues to dominate. Owners are under pressure to accept lower rates, with no clear floor yet in sight. Looking ahead, optimism is pinned on record-high Brazilian soybean exports expected to begin early next year, but for now, the market remains subdued as it heads into the holiday season.
Supramax
Activity remained limited, with very few new fixtures reported. Pacific markets consistently struggled with negative sentiment and declining activity. The 11TC average steadily declined throughout the week, signaling weak overall market conditions. In the Atlantic, the ECSA and US Gulf showed occasional signs of stability with some fresh volumes, however the long list of tonnage did not help with pushing up markets. Across all regions, fresh enquiry and fixing activity remained sparse, contributing to a subdued tone. Period market remains quiet with not being much reported in the past week.
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Source: Fearnpulse
