The dry bulk market experienced a generally positive week across most vessel segments, with sentiment remaining firm despite regional variations. While some basins showed steady gains, others recorded mixed or softer activity. Below is a breakdown of performance across the Capesize, Panamax, Ultramax/Supramax, and Handysize sectors.
Capesize: Positive Momentum with Seasonal Trends
Capesize rates saw a positive trajectory through most of the week, closing at $25,457, up by $1,944 week-on-week. The North Atlantic remained upbeat, though activity was limited.
In the Brazil/West Africa region, the C3 route gained momentum mid-week, with later October cargoes fixing at stronger levels than early October loadings. Still, the index ended at a softer $23.59, reflecting typical seasonal adjustments. In the Pacific, strong miner support early in the week pushed the C5 index to mid $10s before softening to $10.245, while transpacific round voyages averaged in the $26,000s for 35–45 days.
Panamax: Steady Gains but Signs of Consolidation
The Panamax sector delivered optimism, with rates rising steadily across the Atlantic and Asian basins. In the Atlantic, strong grain and mineral demand alongside a tight tonnage list pushed trans-Atlantic trips via the US Gulf into the mid-$20,000s. South America recorded mixed results, with varying deal levels.
Asia’s strength was fueled by NoPac grain activity and solid mineral demand from Australia and Indonesia, with fixtures reaching $16,000 on occasion. Period activity was limited but included an 84,000-dwt delivery Singapore at $18,000 for 4–6 months trading.
Ultramax/Supramax: Firm Atlantic, Softer Asia
The Ultramax/Supramax market showed positional shifts, with firmness in the Atlantic and softer activity in Asia. The US Gulf remained the driver in the Atlantic, where a 60,000-dwt secured $32,000 for a Mobile–India trip.
Transatlantic runs hovered around $30,000, while South Atlantic fronthaul demand pushed fixtures to $16,750 plus $675,000 ballast bonus. In Asia, demand weakened in the south, with Indonesia voyages paying around $15,750. Indian Ocean activity remained steady, with trips from South Africa to East Coast India concluding at $21,000 plus ballast bonuses.
Handysize: Mixed Regional Performance
The Handysize market displayed contrasting dynamics. In the Continent and Mediterranean, activity was limited but rates edged slightly higher. A 36,000-dwt fixed delivery Skaw via Baltic to Luanda at $16,500 illustrated this marginal improvement.
The South Atlantic maintained momentum, with balanced conditions supporting rates at $21,750 for grain runs into the Mediterranean. Conversely, the US Gulf softened due to weaker demand, with rates falling to $19,500 for SW Pass to Algeria. Asia remained largely subdued, with stable fundamentals keeping fixtures around $13,000.
Overall, the dry bulk market maintained a positive tone, led by gains in the Capesize and Panamax segments, while Ultramax/Supramax and Handysize markets displayed regional imbalances. Seasonal factors, grain demand, and mineral flows continue to influence rate fluctuations, with the Atlantic showing stronger momentum compared to Asia.
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Source: BALTIC EXCHANGE
