The global dry bulk shipping market is currently experiencing mixed trends across different vessel classes. While some segments are showing strength due to specific trade routes and cargo demand, others are facing pressure from ample vessel supply.
Capesize Market
The Capesize market is seeing cargo inquiries for early September dates in the Pacific, particularly from miners and operators. There is also consistent volume from East Australia and other parts of the Pacific. On the Brazil (C3) and West Africa fronts, demand is primarily for end-of-September dates. The Pacific spot tonnage supply is currently abundant, and the number of vessels ballasting for mid to end-September is increasing. As a result, the C5 route concluded at approximately $9.00 per metric ton (pmt), while the C3 route was around $23 pmt for very late September dates.
Panamax Market
The Panamax market held largely steady this week. The Atlantic basin showed more resilience, supported by consistent coal demand from the U.S. East Coast (USEC) and a strengthening East Coast South America (ECSA) market for September. While prompt tonnage faced some pressure, the overall sentiment remained supported. The transatlantic market was flat, and the North Atlantic lacked momentum. In contrast, the Pacific market softened slightly due to a growing list of available vessels and quieter chartering interest. However, routes in Australia and Indonesia saw healthy activity levels. Overall, the market is finely balanced, with the Atlantic currently stronger than the Pacific.
Supramax Market
The Supramax market presented mixed sentiment across different basins. The Atlantic showed a distinct North-South divide. The U.S. Gulf was supported by positional demand, although some felt rates were peaking, while the South Atlantic remained subdued. The Mediterranean region was stable but lacked a clear direction. In Asia, the Pacific maintained a firmer tone, driven by steady cargo flows and improving sentiment from Southeast Asia and Australia. The overall market index remained stable, indicating a generally firm undertone throughout the week.
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Source: Fearnleys
