Capesize sees increased activity, especially for early October dates; Panamax markets show modest gains; Supramax remains mixed with slight improvement in the US Gulf but flat in Asia, reports fearnpulse.
Capesize
On the West Australia front, we see enquiries from miners and operators for late September to very early October dates. Volumes out of East Australia seen an uptick from last week with the presence of some tenders as well. On the Pacific and west coast South America front, enquiries were for mid to late September dates and October dates respectively. On C3 ex Brazil to China, very limited enquiries for late September dates with operators and some miners interested in first half of October dates. Far East spot tonnage is abundant albeit some impacted by Typhoon Bebinca. Ballasting tonnage is dwindling for second half of September and heavily weighted on first half of October. On C5, fixtures concluded at mid to high USD 11 pmt levels by mid-week. On C3, we see bids in the mid USD 25 pmt levels for early October dates and fixtures concluding at high USD 27 pmt levels.
Panamax
This week the Panamax market saw modest gains in the Atlantic, particularly in fronthaul routes, though the North remained weak due to excess tonnage. In contrast, the Pacific showed positive sentiment, driven by firm demand in the region despite wide bid-offer spreads. The US Gulf saw steady cargo activity, but many owners are waiting for better rates. Although the coal market remains bearish, seasonal demand for grains and coal is expected to rise in Q4, which could provide some market support.
Supramax
The Handysize and Supramax markets saw a mixed performance with limited fresh activity across regions. In the US Gulf, there were slight signs of improvement with a better cargo book, but the tonnage-to-cargo imbalance continued to pressure rates. The South Atlantic experienced a gentle decline due to minimal new inquiries. In Asia, the market remained largely flat, though some interest in nickel ore trades emerged, with a few fixtures reported. Rates in the Continent and Mediterranean held firm despite long tonnage lists and thin demand.
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Source: Fearnpulse
