- Grain movement drives Pacific Panamax earnings.
- Minor bulk movement saves Supramaxes.
- Atlantic market fundamentals key for Capesizes.
Dry bulk freight rates in Q3 2025 displayed varied performance across vessel segments compared to the same period in 2024, amid robust seaborne trade volumes, despite ongoing concerns regarding the global macroeconomic outlook, reports Platts.
This mixed outcome was driven primarily by robust grain movements in the Panamax segment and increased minor bulk shipments on Supramaxes, reflecting a market balancing supply growth, regional trade dynamics, and sector-specific demand fluctuations.
Optimism for Capesize market
The Platts Capesize T4 Index, a global ton-mile weighted average index of four Capesize routes, averaged $23,394 per day in Q3 2025, experiencing a downswing compared to $25,032 per day from Q3 2024, according to S&P Global Commodity Insights data.
Meanwhile, the Platts KMAX9 Index, a global ton-mile weighted average of nine Panamax routes, averaged $15,562 per day in Q3, a decent improvement from $14,145 per day across the same period in 2024.
Similarly, the Platts APSI 5 Index, a ton-mile weighted average of five Supramax freight routes in Asia-Pacific, averaged $11,135 per day for Q3, a marginal dip from an average of $11,408 per day recorded in Q3 2024.
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Source: Platts
