- Suez Canal Bulk Transits Jump 64 Per cent.
- Capesize Movements Hit Highest Since April 2024.
- Panamax Transits Surge on Black Sea Cargoes.
Dry-bulk movements through the Bab el-Mandab have been on a steady upswing since the unfortunate sinkings of the Magic Seas and Eternity C back in July, with the pace picking up even more after the announcement of a ceasefire in Gaza, reports Safety4Sea.
Suez Canal Bulk Transits Surge
According to Howe Robinson Partners, the Suez Canal Authority (SCA) has rolled out enticing incentives, such as fee reductions, that have prompted operators to return. In October, there were 310 bulk carrier transits, marking a 64% increase compared to last year. The SCA also noted a total of 229 vessel transits, the highest monthly figure since the crisis began.
Capesize Activity Hits Multi-Month High
Capesize transits jumped to 28 vessels in October, the most robust activity we’ve seen since April 2024. This surge is largely due to a rise in iron ore shipments from Ukraine to China.
Panamax Volumes Jump Sharply
Panamax traffic saw a significant increase, reaching 71 transits in October, well above the previous annual average of 42. This uptick reflects stronger shipments of Black Sea coal, wheat, and corn to buyers in Asia and the Middle East.
Supra/Ultramax Activity Strengthens
Supra/Ultramax volumes climbed to 130 vessels, the highest level since January 2024. Year-to-date totals are now slightly ahead of where they were in 2024.
Handysize Returns to Pre-Crisis Levels
Handysize carriers recorded 81 transits in October, nearly matching the numbers from early 2024 and signalling a full return to pre-crisis performance.
Outlook: Sub-Capesize Growth Expected
While security and insurance concerns remain, the improving grain harvests in Ukraine and Russia are anticipated to boost Black Sea exports to East-of-Suez markets. If there are no further security incidents, Howe Robinson Partners is optimistic about continued growth in sub-Capesize Suez traffic in the months ahead.
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Source: Safety4Sea
