Capesize
On the West Australia front, we see a drop in overall volumes and limited enquiries from miners, operators, and tenders. Players in market seeking are primarily for early August dates and some operators for second half of August dates. Volumes out of East Australia slowly picked up as the week progressed. On C3 ex Brazil to China, we see enquires primarily for second half of August dates with fewer looking for early August dates. West Africa volumes remain relatively flat. Far East spot tonnage is building up whereas ballasting tonnage is increasingly heavy for mid August and relatively tight for early August. On C5, we see fixtures concluding at low USD 9 pmt levels. On C3, fixtures were heard concluding at USD 25 pmt levels for second half of August.
Panamax
This week’s Panamax market saw a decline in support from ECSA due to fewer vessels heading there, while increased loadings in the Pacific and seasonal Black Sea grain volumes provided market support. In the Atlantic, activity dropped, particularly in the North, with a wider bid/offer gap and mixed rates. The market remained flat with balanced tonnage and cargo, and ECSA saw limited fresh orders and slight owner discounts. Meanwhile, in the Pacific, despite a recent surge in vessel loadings and good demand replenishment, activity was subdued, especially in Asia, due to a national holiday in Japan. Overall, fundamentals remain bullish with ton-time growth outpacing supply growth and industrial metal prices indicating higher averages for the second half of the year.
Supramax
Another quiet/flat week in the Atlantic as it seems the market running out of steam with low activity, despite of few fresh mineral orders and EX Ukraine grain. The tonnage vs cargo is more of less balanced, but any further gain requires new replenishment of cargo. ECSA market has a positive sentiment with fresh inflow of cargoes to Mediterranean as well as fronthauls. Pacific market – there are many fresh enquiries and sufficient tonnage which can take it. There still remains appetite for period across Handy to Ultra. Market will adjust in coming days and will remain flat.
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Source: Fearnpulse
