In the Capesize market, steady volumes persist, particularly in C5, with fixtures concluding at mid to high USD levels. Panamax encounters challenges in both the Atlantic and Pacific basins, with increased tonnage causing downward pressure and a lack of clear market direction. The Supramax market experiences volatility, driven by FFA directions, and faces uncertainties due to weak Far Eastern markets and decreased cargo flow in the USG. Despite improvements in ECSA, the overall sentiment remains uncertain, reports Fearnleys.
The Black Sea and Mediterranean markets are paying premiums due to the lack of tonnage driven by the present situation of the Red Sea and Suez Canal. The trips to the Far East paid around USD 26,000 pd, and clinker across from the Mediterranean to West Africa improved substantially, with owners demanding above USD 20,000 pd compared to low-mid USD 10,000 pd from the previous week.
The market in the Far East remained unexcited, sideways, and bearish. Period rates asked by owners are much more optimistic based on FFA support; however, they are discouraged by spot rates.