Capesize
On the West Australia front, we see a drop in enquiries compared to last week from miners, fewer operators, and some tenders primarily for late June to early July dates. Volumes out of East Australia saw a tick increase while enquiries for other Pacific businesses remain relatively flat. On C3 ex Brazil to China, we see limited buying for end June dates with a majority focusing on July dates. Volumes out of West Africa remain reasonably robust. Far East spot tonnage is increasingly abundant while ballasting tonnage is heavily weighted on first half of July with some still able to make late June dates. On C5, we see fixtures concluding at low USD 10 pmt levels by mid-week. On C3, we see fixtures concluding at low/mid USD 25 pmt levels for early July and sub USD 25 pmt levels for late June.
Panamax
The Panamax market anticipates a rally within 1 to 3 weeks, driven by increased grain shipments from the Black Sea and rising coal demand in Asia. This could potentially push the BPI5TC to around USD 19,000 per day within a month. In the Atlantic market, there are significant discrepancies between bids for grain and mineral trips. The North Atlantic seems bullish with tight tonnage and expectations of rising rates, while the South Atlantic remains stable but firm due to plentiful cargo volumes. In contrast, Asia remains quiet with limited activity and a weaker overall tone. The slow start to the week is attributed to holidays in parts of Asia, with sentiment remaining bearish and minimal overall market activity despite some stronger bids for grain transatlantic round trips.
Supramax
After the eventful Posidonia events last week, we see that the Atlantic market has become more alive; there is more fresh requirements and better cargo volume.
All eyes are on USG and USEC recovery, with rates pushing up USD 3,000 plus from last week’s fixtures. The fixture was reported MV Belinda 63’ dwt fixed delivery SW Pass trip India USD 24,000 pd. Another fixture was reported for Supra delivery NCSA for trip to UK with coal USD 17,000 pd. The scrap from the Baltic/Continent also pays a premium to last done, and owners hold back to fix better rates. Transatlantic will improve further as the current index is low and spot rates are improving. The Far East market remains stable. There is a good balance of cargo and tonnage supply. Supramax delivering to North China for coal round voyage fixed at USD 14,000 pd. The Ultramax 61’ dwt delivering Indonesia fixed at USD 18,000 for a trip to China.
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Source: Fearnpulse
