Dry Bulk Market Sees Improved Rates And Increased Inquiries


  • The dry bulk market is experiencing an uptick in activity across various vessel types, including Capesize, Panamax, and Supramax.
  • Increased inquiries from miners, operators, and tenders are driving the Capesize market, with higher volumes and improved rates on key trade routes.
  • The Panamax market is showing signs of a rebound due to increased grain shipments from ECSA and rising index levels.
  • The Supramax sector is also seeing positive sentiment with firmer spot trading and elevated trip levels.
  • One-year time charter rates for Newcastlemax, Kamsarmax, and other vessel types are also on the rise, indicating an overall optimistic outlook for the dry bulk market.


The Capesize market is experiencing an uptick in activity, driven by increased inquiries from miners, operators, and tenders for late April to early May dates. Pacific volumes from East Australia and other regions have improved compared to the previous week, with most inquiries focusing on early to midMay dates. Volumes from South Africa have also increased slightly but remain stable overall. On the C3 route from Brazil to China and West Africa, inquiries have been consistent with a focus on the second half of May, alongside some forward buying for June.

Far East tonnage is moderately abundant, with ballasting tonnage heavily impacting May due to several vessels available for late April dates. The C5 route has seen an upward trend, with fixtures closing at mid USD 11 pmt levels. Similarly, the C3 route has seen fixtures closing at high USD 26 pmt levels for midMay dates. One notable fixture involved a 179,000 dwt vessel (2013built, nonscrubbered) for 16 to 18 months at USD 27,000 per day.


The Panamax market is rebounding, driven by an increase in ECSA grain shipments and a rise in the Panamax 82 index compared to the Supramax 63 index. Positive market sentiment persists despite mixed views and activities in different regions. In Asia, the market continues to rise with strong rates, while in the Atlantic, a balance between tonnage and cargo volumes keeps rates stable. The ECSA market exhibits dual pricing, with spot tonnage discounted compared to premium May liftings. Overall, the outlook for the Panamax market remains optimistic, with expectations of further rate improvements.


Positive sentiment prevails in the Supramax sector, with firmer spot trading and period rates. The South Atlantic and US Gulf are driving indexes into positive territory, elevating both TA and FH trip levels. The 10TC average closed at USD 14,702.

In terms of specific fixtures, the Ultramax vessel MV Al Wathba (63,555 dwt, built 2019) was reported to have secured a deal for US Gulf to Japan with wood pellets at USD 26,000 per day. The ECSA market is fixing healthy levels, with the MV Valiant Sapphire (63,646 dwt, built 2023) securing a TCT via Brazil at USD 17,775 + USD 775,000 GBB for Asia discharge. Transatlantic rates are trading around USD 15,000 per day.

The Pacific market remains robust, with a healthy influx of fresh inquiries for prompt dates. Pacific China round trips are fixing at subUSD 15,000 per day.


The latest dry bulk rates across various vessel types and trade routes are as follows:

  • Capesize: TCE Cont/Far East at $38,125 (+$312); Australia/China at $11.66 pmt (+$0.75); Pacific RV at $16,464 (+$1,496).
  • Panamax: Transatlantic RV at $13,970 (+$740); TCE Cont/Far East at $26,164 (+$769);
  • TCE Far East/Cont at $7,178 (+$113); TCE Far East RV at $14,996 (+$342).
  • Supramax: Atlantic RV at $13,732 (+$267); Pacific RV at $14,019 (+$231); TCE Cont/Far East at $26,250 (+$25).

The oneyear T/C dry bulk rates include:

  • Newcastlemax (208′): $28,250 (+$790)
  • Kamsarmax (82′): $17,500 (+$1,000)
  • Ultramax (64′): $17,500 (no change)
  • Capesize (180′): $24,250 (+$790)
  • Panamax (75′): $16,500 (+$1,500)
  • Supramax (58′): $15,000 (no change)
  • Handysize (38′): $14,000 (no change)

The Baltic Dry Index (BDI) stands at $1,844, an increase of $65.

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Source: Fearnpulse