The current market indicates a steady level of chartering interest from mining companies, vessel operators, and tender processes for laycan dates at the very end of May and the beginning of June 2025, reports Fearnleys.
Capesize
The dry bulk market is currently observing the following trends for Capesize vessels:
- Brazil and West Africa Enquiries: Charterers are primarily showing interest for cargoes loading in the first half of June, with some also looking at the second half of the month.
- Far East Tonnage: The availability of spot tonnage in the Far East appears to be relatively high.
- Ballast Tonnage: While the number of vessels in ballast (empty and seeking cargo) is gradually decreasing as some find employment, it remains relatively significant for June loading dates.
- Fixture Levels (C5 Route): Fixtures for the C5 route (typically Australia to China) have been concluded in the low to mid USD 7 per metric ton range this week.
- Fixture Levels (Brazil): For early June loading dates from Brazil, fixtures have been concluded at levels below USD 18 per metric ton. The previous offers for June dates were in the high USD 19 range, indicating a slight softening in rates for Brazil cargoes.
Panamax
The Panamax market has continued its downward trajectory this week, with both the Atlantic and Pacific regions experiencing downward pressure.
Atlantic Market: Sentiment in the Atlantic remains bearish due to an increasing amount of available tonnage and limited fresh cargo demand, particularly from the North Coast of South America (NCSA). This situation has led to wider gaps between the prices that buyers are willing to pay (bids) and the prices that sellers are asking (offers). Consequently, some fixtures for transatlantic voyages have been concluded at levels below the typical index rates. The East Coast of South America (ECSA) provided some short-term support due to a tighter supply of vessels available for immediate loading in May. However, the expectation of ample tonnage becoming available in June could put downward pressure on rates in this region as well.
Pacific Market: The Pacific market remains generally flat with a prevailing bearish sentiment. This is attributed to persistently long lists of available vessels and a scarcity of new cargo opportunities. Current fixing levels for round voyages in the Pacific are holding in the high USD 9,000s to low USD 10,000s per day range. Despite the current market conditions, some owners are showing resistance to further rate decreases, anticipating a potential market correction shortly.
Supramax
The Atlantic market displayed a generally positive trend throughout the week, characterized by consistent demand and stronger numbers, particularly from the US Gulf and South America. In contrast, the Continent/Mediterranean region experienced a more subdued market with limited fresh inquiries.
The Asian market, however, continued its gradual decline due to a lack of overall activity. A notable exception was the Indian Ocean, which showed consistent demand, especially for shipments originating from South Africa.
Several fixtures were reported across various regions, which helped to support localized strength in those specific areas.
Looking ahead, the impending monsoon season is expected to lead to a decrease in cargo volumes in West Coast India in the coming weeks.
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Source: Fearnleys
