This week’s dry bulk market reflected a mixed performance across vessel sizes. Capesize vessels continued to benefit from tighter tonnage and active cargo flows, particularly in the Atlantic, while Panamax, Ultramax/Supramax, and Handysize segments faced downward pressure due to holiday disruptions and limited fresh demand. Here’s a breakdown of market movements by vessel class.
Capesize: Resilient Atlantic Supports Rates
The Capesize sector showed resilience, particularly in the North Atlantic where strong fronthaul activity pushed the C9 index to $38,719. In the Pacific, miner-driven demand on the C5 route and a reduced tonnage list supported sentiment, although fixing volumes dipped later in the week due to holidays. The Brazil-China C3 index saw a slight decline, reflecting capped upside from the long ballaster list. Overall, the segment maintained a firm tone thanks to consistent cargo flow and tightening supply.
Panamax: Holidays Disrupt Momentum Across Basins
Panamax activity was fragmented, especially in Asia and the Atlantic, due to global holidays. The Atlantic basin saw stable rates despite weak fresh demand, with some fixtures like an 82,000-dwt earning $17,750 for a NC South America-Far East trip. In Asia, increased coal demand was not enough to sustain rates, with Indonesian rounds falling from $11,500 to $10,850. The period market remained quiet, with little support from FFA activity.
Ultramax/Supramax and Handysize: Subdued Activity and Sliding Rates
The Ultramax/Supramax market was largely quiet this week, influenced by May Day and a major shipping event in Geneva. US Gulf and Asia saw weak sentiment, while South America was marginally more active with positional gains. Notable fixtures included a 63,000-dwt earning $13,750 plus bonus from Recalada to SE Asia. Handysize rates fell across most regions, with limited cargoes and growing tonnage in SE Asia and the U.S. Gulf. The South Atlantic held up better due to steady transatlantic demand.
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Source: Baltic Exchange
