May 2024 Dry Bulk Report: Panamax & Supramax Market Highlights


The dry bulk market in May 2024 exhibits notable activity across various segments, driven by healthy volumes from miners, operators, and tenders for the end of May and June dates. Here’s a closer look at the key developments

Coal Trade Dynamics

Demand for coal remains robust, particularly in the Pacific region, with steady inflows from East Australia and other Pacific areas for the end of May to early June dates. South Africa has also seen an uptick in volumes, with operators seeking tonnage for similar dates. Interest for June dates is particularly high among operators in the C3 ex-Brazil to China route, indicating sustained demand momentum.

Panamax Market Insights

Contrary to previous expectations of a downward trend, prices continue to rise in the Panamax market, especially in the Pacific. Despite high fleet concentration in the East of Suez and a seasonal decline in coal demand, positive trading sentiments and gains across most routes have bolstered the market. However, the trans-Atlantic route experiences slower activity, tempering overall optimism.

Supramax Market Trends

The Supramax market witnesses significant upward movement, particularly in the Far East and South Asia regions. Cargo volume increases have led to soaring rates, with Indonesia-China rates surpassing USD 20,000. Owners confidently seek premiums on last-done rates, underscoring market strength. While the Mediterranean region shows a need for fresh inquiry, rates remain relatively stable around USD 15,000 in the Trans-Atlantic trade.

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Source: Fearnleys