Capesize
On the West Australia front, we see a significant uptick in inquiries from operators and tenders alike for 10 March onwards. Some were seeking forward tonnage for end March and few enquired for full April dates primarily on an index-linked basis. Inquiries for East Australia coal and other fronts of the Pacific have ticked up slightly as well, adding to the overall optimism of the market as we approach mid-week. On C3 ex Brazil to China and West Africa, we see a majority of inquiries for the second half of March dates. Far East spot is growing increasingly thin compared to the volume of cargo in the market. Ballasting tonnage is slowly thinning as well for the second half of March dates. Though notably, we still see several free candidates for first half of March. On C5, we have crossed the USD 8 pmt mark as we approach mid-week. On C3, fixtures concluded in the USD 19 to USD 19.70 pmt levels as we approach mid-week.
Panamax
The Panamax market experienced a sluggish and softer tone this week, with sentiment remaining mixed across both basins. In the Atlantic, the North remained quiet with limited fresh inquiries, while ECSA fronthaul activity retreated, leading to a buildup of available tonnage. The Pacific showed signs of pressure as coal and grain volumes eased, with some demand shifting to Capesizes. While early signs of seasonal strength in March remain possible, uncertainty prevails as fundamentals remain fragile, and further corrections could emerge unless fresh cargo inflows materialize.
Supramax
The geared market experienced mixed activity over the past few days. While sentiment remained positive, the US Gulf lacked fresh demand, keeping rates stable, though some owners resisted lower levels. The South Atlantic showed both upward pressure and balance, while Asia remained strong but may have peaked. The Mediterranean-Continent market gained ground with fresh inquiries, whereas the US Gulf struggled with limited momentum. Few fresh inquiries in the Indian Ocean region after a short hiatus but the market remains flat. The pacific market is firm. The week ended quietly, with positive sentiment persisting despite slower activity in both the Atlantic and Asian basins. The period market remains active.
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Source: Fearnleys
