- Capesize: Pacific decline, Atlantic bid reductions, potential equilibrium, BCI 5TC ends at $18,015.
- Panamax: Sustained decline, North Atlantic challenges, varied rates, notable China deal at $14,350.
- Ultramax/Supramax: Lackluster start, Atlantic softness, Asian positional, varied fixing, e.g., 63,000-dwt at $12,750.
- Handysize: Persistent negativity, limited cargo, global challenges, rates from $7,500 to $8,000.
Capesize: Declining Rates Amid Limited Miner Participation
The Pacific market faced challenges as miner participation remained limited, causing declining rates driven by tonnage build-up and a coal enquiry shortage. The Atlantic market also struggled initially, with bid reductions and a widening bid-offer spread. Increased activity from South Brazil and West Africa hinted at a potential market equilibrium attempt.
Panamax: Persistent Decline with Tonnage Build-up
Panamax market sustained substantial corrections in both Atlantic and Asian basins. Lack of mineral demand in the North Atlantic and a tonnage count build-up affected deals. Limited support from NoPac and Australia in Asia did little to impact the growing tonnage count. Rates on period varied, with notable deals including an 82,000-dwt delivery in China achieving $14,350 for one year.
Ultramax/Supramax: Inauspicious Start Continues
Ultramax/Supramax market faced a lackluster start to the new year. In the Atlantic, tonnage supply exceeded demand, impacting rates. Asian activity remained positional, with limited fresh enquiry. Various vessel sizes saw fixing, including a 63,000-dwt trip from North China to WC India at $12,750 and a 55,000-dwt trip from South China to Bangladesh at $9,000.
Handysize: Persistent Negativity Amid Limited Cargo Availability
Handysize sector continued to face negativity with limited cargo availability and growing tonnage lists. Across regions, fixed deals included a 28,000-dwt from Arzew to Florida at $7,500 and a 36,000-dwt from Santos to Morocco at the mid-teens. The US Gulf and Southeast Asia experienced similar challenges, with rates ranging from $8,000.
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Source: Baltic Exchange
