The dry bulk shipping market saw a mixed performance this week, with some segments remaining stable while others experienced distinct shifts in rates and demand across different regions.
Capesize
The Capesize market remained largely steady, with fluctuations between softer periods and stronger activity. In the Pacific, C5 rates initially fell below $10 before recovering to the low $10s and then dipping again by the week’s end. Routes from South Brazil and West Africa to China showed a steady to firm tone, with some fixtures achieving rates above the index before easing. The North Atlantic was firmer due to new inquiries and a tighter supply of vessels. Overall, the Baltic Capesize Index (BCI) 5TC remained stable around the mid-$27,000s, indicating a market without a clear trend.
Panamax
The Panamax market had mixed results this week. The Atlantic basin experienced significant losses due to low activity and a lack of demand, especially in the north. The P6 route from East Coast South America saw limited activity but rates consistently held around the $14,000 mark. In contrast, the Asian market saw steady gains, driven by consistent demand for Indonesian and Australian coal. An 82,000-dwt vessel reportedly secured $14,500 for an Australian round trip. There was also a notable period fixture for an 82,500-dwt vessel for two years, linked to the BPI index.
Ultramax/Supramax
The Ultramax/Supramax market showed a clear north-south divide in the Atlantic. The US Gulf saw stronger rates, with fresh inquiries and limited vessel supply pushing rates for fronthaul trips potentially into the upper $20,000s for Ultramax sizes. A 56,000-dwt vessel was fixed from the US Gulf for a trip to the Puerto Cortes-Cristobal range at $22,000. West Africa also saw increased interest, with a 58,000-dwt vessel fixing a trip to the Arabian Gulf at $19,000.
However, the South Atlantic market was quiet, and rates generally eased. In Asia, the market gained momentum with a 56,000-dwt vessel fixing from Sandakan via Indonesia to China at $17,000. Further north, a 63,000-dwt vessel secured a trip from CJK to East Africa at $17,250. Period activity was minimal, with one 61,000-dwt vessel fixing a 5-7 month period at $16,250.
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Source: Baltic Exchange
