The dry bulk shipping market displayed a mixed performance this week, with Capesize rates recovering strongly, while Panamax and Supramax/Ultramax segments remained under pressure due to weak demand and oversupply of tonnage. The Handysize sector saw minimal activity, with most regions remaining flat or slightly soft.
Capesize: Bullish Momentum Returns Across Both Basins
The Capesize market ended the week on a positive and optimistic note, despite a slow start due to the Vesak Day holiday in Singapore.
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In the Pacific, mid-week miner activity and tight vessel supply supported rising rates, pushing the C5 index to $8.195.
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The Atlantic began with concerns over growing ballaster numbers and port delays (e.g., the San Nicolas loader issue) but later gained strength due to robust demand from South Brazil and West Africa.
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The C3 route climbed to $19.405, with a floor seen mid-week at $18.00.
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Fronthaul demand surged, reflected in a sharp C9 index rise.
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The BCI 5TC ended the week at $16,736, a gain of $2,382 week-on-week.
Panamax: Atlantic Weakens, Asia Mixed
The Panamax segment experienced a difficult week, particularly in the Atlantic, where limited cargo volumes and an expanding tonnage list drove rates down.
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A sharp rate drop was observed on trans-Atlantic fronthaul: an 82,000-dwt vessel dropped from $20,000 to $14,000 mid-week for a Continent–India trip.
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In the Pacific, the NoPac market lacked support, but Australian demand improved, with an 82,000-dwt fixing at $11,000 for an EC Australia to Japan trip.
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Period activity remained quiet, with only rumors of a 5–7 month fixture at $13,750 for delivery China.
Ultramax/Supramax: Lacklustre with Few Highlights
The Ultramax/Supramax market remained subdued amid regional holidays and shipping events.
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In the Atlantic, US Gulf and South America showed waning demand. A 58,000-dwt fixed Fazendinha to Otranto at $17,850.
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The Mediterranean remained soft with limited new cargo.
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In Asia, a mixed market emerged:
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A 58,000-dwt fixed Singapore via Indonesia to China at $12,500
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A 63,000-dwt fixed Surabaya via Indonesia to Thailand at $17,000
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In the Indian Ocean, a 64,000-dwt fixed Saldanha Bay to China at $20,000 + $200,000 BB, although momentum slowed toward the week’s end.
Handysize: Activity Quiet, Rates Stable to Soft
The Handysize market saw limited fixtures and mostly soft fundamentals:
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Continent/Mediterranean: A 37,000-dwt fixed Bejaia via Jorf Lasfar to Samsun at $7,000.
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US Gulf: Continued oversupply; a 37,000-dwt fixed Hampton Roads to Continent with coal at $10,500.
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South Atlantic: Remained balanced; a 36,000-dwt fixed Recalada to North Coast South America at $15,500.
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Asia: Rates held steady due to stable cargo flow; a 38,000-dwt fixed CJK via Bing Bong to Continent with concentrates at $13,500.
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Source: BALTIC EXCHANGE
