Weekly Bulk Report – Week 30, 2023

Credits: alfvanbeem/Pixabay


After a slow beginning to the week, the Capesize market experienced a surge on Wednesday with a rise of over $2,500 in a day on its five timecharter routes average. The week closed at $15,180 with +$3,222 week-on-week. Both fronthaul and trans-Atlantic business were particularly active whilst tonnage in the Atlantic tightened. Solid volume lent support and made the North Atlantic the strongest sector of the week. By Friday, vessels delivered in the Continent/Mediterranean were paid close to $36,000 for runs to the Far East. From Brazil, moving iron ore to China was marked in the mid $19s for second half August loading. In the Pacific, the West Australia to Qingdao trade remained stable throughout the week at the level of $7.70. Currently both a trans-Pacific and a China to Brazil round voyage are in the $12,000s per day.


It was an eventful week with the Panamax market finally finding some life. The week began slowly, but eventually sparked and was duly accompanied by an FFA drive/some Cape splits in parts only to flatten out as the week ended. In the Atlantic, some much needed mineral demand was evident alongside solid demand ex South America for mid/end August arrival window. 82,000-dwt types delivery Singapore were now achieving somewhere between $10,500 and $11,000 date dependent. Further north, an 82,000-dwt delivery Continent achieved $7,500 for a trans-Atlantic round trip via US East Coast. In Asia, rates improved marginally, buoyed somewhat by the pick-up in South America, but decent levels of Australian coal provided the support for most part of the week and a small smattering of NoPac enquiry mid-week, but pitted against a lengthy tonnage list rates hovered around the $6,000 mark for Australian mineral round trips.


Another rather unexciting week for the sector, certainly from the Atlantic, which saw further drops with limited fresh impetus across most areas with the ongoing Summertime slow down. The US Gulf was described as positional whilst the South Atlantic had positional opportunities for owners with prompt vessels, although it did remain fairly uneventful. A 55,000-dwt was heard fixed delivery Recalada for a trip to the East Mediterranean at $14,000. In the US Gulf, a 58,000-dwt was heard to have fixed from SW Pass to the Mediterranean at $9,000. From Asia, stronger enquiry was seen in the south at the beginning of the week and with the recent bad weather some vessels where delayed, which kept levels at a reasonable level. Further north, some saw demand remain for backhaul enquiry but limited fresh enquiry was seen from the NoPac. A newbuilding 64,000-dwt open Japan fixed a trip to Brazil in the high $7,000s. Further south, a 63,000-dwt fixed delivery Koh Si Chang via Indonesia redelivery China at $9,000.


Limited enquiry in the South Atlantic has led to ever growing tonnage availability. A 32,000-dwt was fixed basis delivery Recalada for a trip to the US East Coast with an intended cargo of sugar and duration of about 50 days at $9,000. The US Gulf was also suffering similar issues with limited cargo availability. A 32,000-dwt was fixed from SW Pass to Israel with an intended cargo of grains at $5,000 and a 38,000-dwt fixed from Barranquilla to China with an intended cargo of coal at $10,000. In Asia, a 34,000-dwt opening in Koh Si Chang was fixed for a trip via Kijing to Samalaju with an intended cargo of alumina at $4,750 and a 37,000-dwt was fixed from Papa New Guinea via Australia for a round voyage at around $10,000 with an intended cargo of concentrates whilst a 36,000-dwt open in Japan was linked to fixing for a round trip via Australia in the upper $5,000s.

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Source : balticexchange