Capesize and Panamax saw steady demand from Asia, while the Atlantic regions remained sluggish. Supramax faced subdued activity in the Atlantic, with modest improvement in the Pacific driven by coal demand, reports Fearnpulse.
Capesize
On the West Australia front, we see a healthy level of enquiries from miners, operators, and some tenders alike largely for early/mid October dates. Volumes out of East Australia continued to hold steady this week with orders for mid October dates as well. On the Pacific and west coast South America front, enquiries were for early October and late October/early November dates respectively. On C3 ex Brazil to China, enquiries were primarily for first half of October second half of October dates with some operators starting to seek for early November. Far East spot tonnage is moderate. Ballasting tonnage is tight for first half of October and heavily weighs on second half of October. On C5, fixtures concluded at mid/high USD 11 pmt levels at the start of the week and retreated slightly to mid USD 11 pmt levels by mid-week.
On C3, we see offer indications in the mid USD 28 to USD 29 levels for second half October and bid ideas in the low/mid USD 27 levels for late October to early November.
Panamax
This week in the Panamax market saw mixed activity across regions. The Atlantic remained subdued, with limited fresh demand and a widening bid/offer spread, particularly in the ECSA where October liftings started to show divergence. The North Atlantic showed a slight uptick in tonnage availability against a quieter US grain market, keeping rates buoyant but lacking significant upward momentum. USEC coal cargoes provided minimal support, while the Baltic and Black Sea regions remained largely inactive. In contrast, Asia displayed more strength, with firmer rates across trades, especially from Australia, where some exceptionally strong rates were agreed, reinforcing a positive sentiment for the region. Despite these developments, the overall market remained cautious, with no major rallies expected, although steady support in both regions continued.
Supramax
The Supramax market remained subdued in the Atlantic, with minimal fresh inquiries, particularly from the US Gulf and South America, though coal cargoes provided some support. The Pacific market showed improvement, driven by stronger demand from Indonesia and India. The Handysize experienced mixed activity, with stronger demand in the Continent and Mediterranean. The South Atlantic and US Gulf markets remained under pressure due to growing tonnage lists and limited inquiries. The Pacific market saw a quieter start, impacted by holidays in Japan. Overall, while some regions saw marginal improvements, both segments faced a largely positional and cautious start to the week.
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Source: Fearnpulse
