Capesize Market Faces Volume Dip As July Ends Near



On the West Australia front, we see a general dip in overall volumes in market as we approach mid-week with enquires from miners and some operators primarily for second half of July dates. We see some forward enquiries and interest for August dates as well. Volumes out of East Australia and other Pacific business picked up gradually as we progressed through the week. On C3 ex Brazil to China, we see enquires primarily for August dates with very few looking for late July dates. West Africa volumes remain relatively flat. Far East spot tonnage is increasingly abundant. Ballasting tonnage is increasingly heavy for first half of August dates. On C5, we see fixtures concluding at sub USD 10 pmt levels. On C3, fixtures were heard concluding at USD 26 pmt levels for early August.


The Panamax market is experiencing a subdued week with mixed signals and no substantial improvement despite gains in the FFA market. In the Atlantic, minimal transatlantic activity and a flat market in the South characterized the week, with rates expected to continue falling due to a lack of demand. Asia also saw little change, with insufficient demand causing rates to drift and initial hopes of stabilization from South America not materializing. The overall sentiment remained negative, with limited trade reported and inactive regions like NCSA and USEC, combined with an oversupply of tonnage, giving charters the upper hand to maintain low bids. This has resulted in a weak market outlook overall, with owners facing pressure to lower their ideas further to cover.


A subdued start to the week with lack of exchanges and limited fixture report. The volume cargo is thin at both ECSA & the Pacific. Combined with nearby oversupply of tonnage, giving the owners little support than drop ideas further to cover. A similar pattern in the Indian ocean with monsoon season setting in and very low cargo volume giving the charters upper hand to maintain low bids. Rates continued their slow decline throughout last week.

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Source: Fearnpulse