This weekly report on the dry bulk market highlights the performance of the Capesize, Panamax, Ultramax/Supramax, and Handysize sectors. The Capesize market saw a rebound with firmer sentiment in the Atlantic, while Panamax and Ultramax/Supramax sectors enjoyed a generally positive week driven by strong demand in key regions. The Handysize market experienced a more mixed performance with modest movements and steady fundamentals in specific areas.
Capesize
The Capesize market had a volatile but ultimately positive week. After an early slump, the market rebounded, especially in the Atlantic. The Pacific market saw fluctuating rates, with the key C5 route (Pacific) ending the week at $10.60. The South Brazil and West Africa to China routes (C3) firmed up, with rates climbing to $25.00 by Friday. The North Atlantic was the top performer, with Transatlantic rates rising to around $30,000 and fronthaul levels reaching the low $50,000s. The BCI 5TC index ended the week with a net gain, closing at $27,716.
Panamax
The Panamax sector had a more positive week after a quiet period. Strong demand from the South Atlantic drove rates up, with the P6 route reaching the mid-upper $14,000s. Although the North Atlantic was less active, an 83,000-dwt vessel was fixed for a trip from the UK to the Continent at $17,500. Increased demand from the South Atlantic also boosted rates in Southeast Asia, with an 82,000-dwt vessel fixing a trip to Japan at $18,000. Australian routes also saw reasonable activity, and a period fixture for an 82,000-dwt vessel was concluded in the mid $14,000s.
Supramax
The Ultramax/Supramax market was positive overall, with a strong return of demand in the Atlantic, particularly from the US Gulf. A 60,000-dwt vessel was fixed from the US Gulf to Singapore-Japan for $27,750, while a 58,000-dwt vessel secured a trip to the East Mediterranean at $26,000. In contrast, the South Atlantic struggled, with a vessel fixed from Santos to Chittagong for $14,000 plus a $400,000 ballast bonus. Asian demand picked up in Southeast Asia and further north, with a 56,000-dwt vessel fixing a trip to Bangladesh at $19,500. The Indian Ocean market was also active around South Africa, with a 64,000-dwt vessel fixing a trip to China for $21,000 plus a $210,000 ballast bonus.
Handysize
The Handysize market delivered a mixed performance with modest movements. The Continent and Mediterranean saw some fresh demand, but rates generally remained stable. For example, a 32,000-dwt vessel fixed a trip from France to Turkey for $9,500. The South Atlantic market remained soft, while the US Gulf maintained firm fundamentals with steady cargo flow. A 34,000-dwt vessel was fixed from the US Gulf to Central America for $15,750. In Asia, despite limited fixture reports, market sentiment remained firm, with a 38,000-dwt vessel fixing a trip from Indonesia to the Continent for $15,000.
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Source: Baltic Exchange
