Dry Bulk Market Weekly Overview Capesize Stabilizes As Supramax Gains Ground

The dry bulk market showed a mixed performance this week, with Capesize rates stabilizing, Panamax activity staying mostly flat, and Ultramax/Supramax segments showing positive momentum. The Handysize market, however, remained largely quiet with soft fundamentals across key regions.

Capesize: Stabilisation in the Pacific and Firmer Sentiment Emerging

After a sluggish period, the Capesize sector saw improvement, particularly in the Pacific basin, where C5 rates climbed from $6.90 to $7.44 amid strong activity from major miners and rising coal volumes. The tonnage list tightened toward the week’s end, boosting sentiment.
In the Atlantic, while the market started weak, activity improved mid-week. On the Brazil to China (C3) route, fixtures reached around $19.50 for end-July dates. However, a long list of ballast ships continues to cloud the forward outlook.
The Baltic Capesize Index (BCI) 5TC dropped $2,128, closing at $15,382.

Panamax: ECSA Leads Modest Gains, Asia Stable

The Panamax market remained mostly flat except for East Coast South America (ECSA), where demand picked up from mid-week.
In the North Atlantic, conditions were weaker, with variable rates depending on delivery.
A standout fixture included an 82,000-dwt securing $21,250 for a trip from the Continent via North Coast South America to China.
In Asia, stable activity persisted across major loading regions. An 81,000-dwt fixed from Japan for an Australian round at $11,500. Period activity was limited, though an 82,000-dwt reportedly fixed $12,000 for one-year employment.

Ultramax/Supramax: Strength in Atlantic and Indian Ocean

This segment experienced a notably positive week, especially in the US Gulf, where charterers were bidding in the mid-$20,000s for transatlantic voyages.
A 56,000-dwt was fixed at $14,500 for a trip via Constanta to Aqaba.
In Asia, increased backhaul demand lifted rates. Notable fixtures included:

• 63,000-dwt from Tianjin to the Mediterranean at $17,000 for 65 days, then at $18,500

• 61,000-dwt from Hong Kong to Singapore at $12,000
  In the Indian Ocean, a 63,000-dwt fetched $16,000 + $160,000 BB for South Africa to China.
  Period demand persisted, with one 63,000-dwt fixing $15,000 for 5/7 months.

Handysize: Quiet Week Amid Event-Driven Slowdown

The Handysize market was subdued, especially across the Continent and Mediterranean, with limited fixtures due to shipping events.
Key fixtures included:

• 34,000-dwt from West Med to US Gulf at $7,000

• 39,000-dwt ex Wilmington to Morocco at $15,000

• 38,000-dwt Amazon River to West Med at $17,500
  In Asia, the market remained flat. A 41,000-dwt was fixed ex Richards Bay to Pakistan at $22,500, but broader fundamentals stayed unchanged.

The dry bulk market reflected divergent momentum across vessel classes. While Capesize and Ultramax/Supramax segments hint at recovery and firming demand, Panamax and Handysize show more muted or stagnant trends. Going forward, tonnage supply and regional demand dynamics, especially from the Pacific and South America, will continue to shape market direction.