The Capesize market saw a decline with the BCI 5TC dropping to $21,676 by Friday. Panamax experienced mixed activity but ended with a slight gain, reports Baltic Exchange.
Capesize
The Capesize market experienced a steady decline this week, with the BCI 5TC falling from $24,521 on Monday to $21,676 by Friday. The Atlantic saw significant fixing activity, particularly from South Brazil to China, but an oversupply of tonnage in ballast and weakening demand led to a softening trend. The C3 index dropped from $25.97 on Monday to $24.69 by Friday. There were some signs of potential improvement in the North Atlantic with new cargoes being noted, but the overall sentiment remained bearish. In the Pacific, despite disruptions from Typhoon Gaemi, the market remained relatively active, with the C5 index slightly increasing to $9.54 on Thursday from a low on Wednesday of $9.37 due to increased operator activity and involvement from the major miners. However, as the week draws to an end there has been a notable slowdown in activity.
Panamax
This week, the Panamax market experienced mixed activity levels with a general sense of cautious optimism. The Panamax timecharter average fluctuated, ending with a modest weekly gain of $698, closing at $16,125.
In the Atlantic, the market showed strength, particularly in the North Atlantic, with a shortening tonnage list and increased cargo levels. ECSA saw more fixtures as the week progressed at better than last done levels, with a 82,700 dwt fixed delivery Singapore at $17,750. Asia saw a more nuanced performance, influenced significantly by Typhoon Gaemi, which caused port closures and disrupted schedules. Despite these challenges, there was a healthy fixing volume and some optimism from the south, with possible weakness for NoPac. A 74,900 dwt vessel fixed for East Australia redelivery Japan at $13,250.
Period fixtures reflected ongoing demand. The Belmonte (81,344 dwt / 2014) fixed for two years at $17,000 with scrubber benefit for charterers and the Argeus (82,226 dwt / 2013) fixed for 4-6 months at around $17,250.
Ultramax/Supramax
What can only be described as a ‘positional week’ overall for the sector. From the Atlantic, it was a rather mixed affair with rates from the US Gulf spiking a little only to fall back as the week closed. A 63,000-dwt fixing a petcoke run from the US Gulf to India at around $30,000. The Continent-Mediterranean remained rather subdued as the holiday season continued. A 63,000-dwt fixed a scrap run from the Continent to Turkey at just under $15,000. The South Atlantic remained finely balanced with tonnage supply keeping pace with demand, with a 56,000-dwt fixing from EC South America to the Indian Ocean in the $15,000s plus in the $500,000s ballast bonus. From Asia, another mixed affair that was not helped by bad weather in the north. A 58,000-dwt fixing delivery China trip to the US Gulf at around $10,000. The Indonesia coal sector saw limited activity, although a 61,000-dwt fixed delivery Philippines trip via Indonesia redelivery China at $19,000. Period activity remained, with a 63,000-dwt open India fixing a balance of period minimum December 2024 to maximum mid-February 2025 in the $17,000-$18,000 region.
Handysize
Generally a steady week as the market remained fairly balanced. Across the Continent and Mediterranean, not much activity other than a few forward bookings. A 32,000-dwt was heard fixed basis delivery passing Skaw for grains run via the Baltic redelivery West Africa at $11,000. Upward pressure across the South Atlantic as better levels of fresh enquiry were seen. A 40,000-dwt open Up River was fixed for a trip to the Mediterranean at $22,750. The US Gulf region kept the positive momentum with further gains on the rates, with a 34,000-dwt open Caribbean heard to have been fixed for a trip from Jamaica to Iceland in the $17,000s. Improving levels of enquiry across Australia and Indonesia led to positive sentiment across Asia but fresh fixing information remained limited. A 36,000-dwt open Paradip was heard fixed for EC India coastal to WC India at $14,000. Period cover was actively sort in both basins. A 32,000-dwt open Jakarta fixing 5/7 months trading redelivery worldwide at $14,000. Whilst in the Atlantic, a 38,000-dwt open Morocco fixed a short period at $15,000.
Did you Subscribe to our daily newsletter?
It’s Free! Click here to Subscribe
Source: balticexchange
