The West Australian Capesize market is showing increased activity, with operators inquiring about vessels for mid-late February and even March loadings. In contrast, other Pacific regions like East Australia and the North Pacific remain relatively quiet. For the Brazil to China route (C3), charterers are primarily seeking vessels for the first half of March, reports Fearnleys.
Capesize
Loading out of West Africa seems to have decent activity as well. Far East spot tonnage is thinning gradually as we approach mid-week. On the other hand, ballasting tonnage is heavy for the second half of February till mid-March dates. On C5, we see fixtures concluding at low-mid USD 6 pmt levels as the week commenced, slowly edging up to mid-high USD 6 pmt levels as we approach mid-week. On C3, we continue to see a premium on nukes over standards with fixtures concluding at high USD 16 pmt levels for early March dates.
Panamax
The Panamax market experienced gains this week, primarily driven by strong demand from South America.
ECSA fronthaul rates rallied significantly, with tight tonnage availability contributing to the strong market sentiment.
The Atlantic market remained well-supported, particularly for end-February to March arrivals. NoPac grains provided steady demand in Asia, further supporting the market. Improved Indonesian coal and mineral volumes also contributed to the positive market dynamics.
Supramax
The Handy and Supra markets exhibited signs of recovery, particularly in the Atlantic basin. The US Gulf and South Atlantic regions showed potential signs of bottoming out. The 11TC remained relatively stable, closing at USD 7,649. Increased volumes emerged in the Atlantic market. Asian markets gained momentum following the Lunar New Year holidays. The Indian Ocean witnessed improved activity and renewed volumes.
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Source: Fearnleys
