There has been a slight decrease in demand for shipping services from Western Australia. While some miners and operators are seeking vessels for late December and early January, overall activity has slowed down compared to the previous week. In contrast, there is increased interest in shipping from other Pacific regions, such as North Pacific, for January and February. Eastern Australia remains relatively stable, reports Fearnpulse.
Capesize
For C3 ex Brazil to China, enquiries for second half of December are very limited as most operators are out seeking for January dates. On the West Africa front, we see an uptick compared to last week for mid to end January dates. Far East spot tonnage, both prompt and on dates, are heavy.
We see some forward positions popping up as well. Ballasting tonnage remains heavy overall with a notable number of ships still able to make late December dates while first half of January numbers is building up. On C5, we see fixtures concluding at mid USD 7 pmt levels when the week started but retreated to sub USD 7 pmt levels by mid-week. On C3, fixtures concluded at low-mid USD 17 pmt levels for first half of January dates.
Panamax
This week in the Panamax market, slight improvements in tonnage balance were noted across both the Atlantic and Pacific, though the fundamental outlook remains fragile. In the Atlantic, marginal gains on transatlantic routes were driven by steady demand and a tighter tonnage list, while fronthaul trips faced downward pressure due to limited fresh demand and owners competing on rates for longer voyages. The South American grain season continues at a seasonal low, with vessel demand anticipated to rise in the coming weeks, while the US grain season has already peaked, resulting in a notable decline in vessel activity.
In the Pacific, China’s coal import market remains under strain from record-high inventories and unseasonably warm weather, further weakening demand and posing risks to fundamentals moving forward. Limited cargo replenishment from key origins compounded the challenges, leaving the basin oversupplied and rates under pressure despite early signs of stability at the start of the week. Confidence in lasting improvements remains low, leaving the market constrained by muted sentiment and cautious activity across both basins.
Supramax
The Supramax market has been more active this week with improved cargo volumes across basins, however the rates still remain low. With long list of tonnage in position, all the fresh volume got absorbed and concluded well below last done levels. In the Pacific, we see steady flow of the Indonesia-India and Indonesia-China coal stems. The volumes in WC India-MEG region still remain low. In the ECSA we see more TA stems with minerals. With Christmas season coming up, owners and traders alike would cover their positions before year-end holidays and expect some leftover volumes in the market before end of the year. Overall, the sentiment is not uplifting given the long tonnage list and lack of cargo volumes. Period market is relatively quiet with very few reported fixtures.
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Source: Fearnpulse
