Capesize
On the C5 front, we see enquiries from miners, operators and tenders focusing on second half of June dates. Volumes out of East Australia, other Pacific businesses, and South Africa has stayed relatively flat. On C3 ex Brazil to China, we see some buying for late June dates and the majority of players enquiring for July dates. Far East spot tonnage is tightening while ballasting tonnage for second half of June is thinning and heavily weighed on first half of July. On C5, we see fixtures at mid-high USD 10 pmt levels at start of week and concluding at low USD 11 pmt levels by mid-week. On C3, we see the same upward trend with fixtures concluding at low USD 25 pmt levels mid-week for late June to early July dates.
Panamax
This week, the Panamax market continues to face challenges with softening rates in both the Atlantic and Pacific basins. Limited activity and owner resistance to low bids marked the Atlantic market, while the Pacific experienced a milder decline but is expected to weaken further. Posidonia in Athens contributed to a quiet start to the week with minimal new inquiries. Additionally, the North Atlantic is under pressure from a lack of cargo, pushing rates lower as owners seek cover. Conversely, the ECSA region has shown slight improvements in rates, suggesting a potential market floor might be forming.
Supramax
The Pacific market is doing very well across geared size segments. Handy index remains stable at mid USD 12,000 levels. Trips from India to the Continent/Mediterranean being fixed at USD 13-15,000 levels. Inter-MEG and MEG-EC India trips on Supra/Ultra around USD USD 15,000. There is limited interest in backhaul trades at the moment since the Atlantic market has ample tonnages in position and very little cargo volume. NOPAC RV pays in the region of USD 16-18,000 levels. Period interest remains firm in the Pacific and Indian Ocean for Supra/Ultra sizes. On the other side, the ECSA market remains quiet with very little volume coming out for the geared segments. We will see more activity and action in the market once everyone is at their desk after Posidonia in Greece.
Did you Subscribe to our daily newsletter?
It’s Free! Click here to Subscribe
Source: Fearnpulse
