Capesize

The Capesize market saw a generally softer trend this week, with the 5TC declining over the first three days before stabilising as activity picked up to close at $5,939. However, this still reflected a week-on-week loss of over $1,000, marking its lowest level since late February 2023, and the lowest time-charter average among the four dry bulk sectors. In West Australia, cyclone conditions disrupted operations at Port Hedland and Dampier, while a fire was reported at the Praia Mole Coal Terminal in Brazil. C3 Tubarao to Qingdao and C5 West Australia to Qingdao routes closed the week at $16.755 and $6.03 respectively. A growing number of ballasters were observed in the South Atlantic, with some competing with vessels in the Continent-Mediterranean region for transatlantic and fronthaul business. C8 the transatlantic round voyage was marked at $3,643 whilst C9 the fronthaul run stood at $24,906. A 208,000-dwt Newcastlemax was fixed for 20-22 months at $26,000.


Panamax

A week of steady declines for the Panamax market returned this week. With the North Atlantic basin under pressure for most part, resistance proved to be mostly scarce. This resulted in charterers driving down bids, noticeably for the few trans-Atlantic runs available. South America for the nearby dates remained discounted, whereas for index dates, some support was evident as seen by an 82,000-dwt delivery Singapore achieving $10,000 for a trip via South America redelivery Singapore-Japan. Asia bucking the trend for the first part of the week returned decent levels of activity culminating in firmer rates, only for rates to plateau a little as the week ended. NoPac rounds hovered around the $10,000 mark with several deals concluded, whilst from Australia the mean average was circa $9,000 for round trips. There was some heightened period activity seen this week, the highlight being $14,750 agreed both on an 82,000-dwt delivery China fixed basis 5/7 months, and an 85,000-dwt delivery Bangladesh for 11/13 months period charter.


Ultramax/Supramax

Another buoyant week for the sector, as renewed interest pushed demand up, helping rates gain ground in most regions. The Atlantic saw stronger demand from the East Mediterranean, brokers said, although fixing information remained limited. From the US Gulf, better levels were seen again, with a 63,000-dwt fixing a trip from the US Gulf to the Far East in the mid-$19,000s. Meanwhile, in the South Atlantic, a 63,000-dwt fixed delivery Recalada for a trip to the Continent at around $20,000. Positive sentiment remained in Asia, with a 63,000-dwt fixing delivery South China for an Australian round at $10,000, while better demand on backhaul runs saw a 58,000-dwt securing mid-$10,000s for a trip from China to the Mediterranean. The Indian Ocean lagged slightly, with a 56,000-dwt fixing delivery Port Elizabeth for a trip to China at $9,000 plus a $90,000 ballast bonus. Period interest remained, with a 56,000-dwt open Mediterranean fixed at the beginning of the week for 4 to 6 months' trading, redelivery worldwide, at around $11,000.


Handysize

This week, the market has shown a mixed performance across the regions. In the Continent and Mediterranean, there’s a sense of stability, supported by a healthy cargo book and ongoing scrap orders. For instance, A 35,000-dwt heard fixed delivery Continent redelivery East Mediterranean with scrap in the $9,000s. In the South Atlantic, market fundamentals remained strong particularly for larger sizes and indicating continued support. A 40,000-dwt fixed delivery Recalada trip to redelivery WC Central America at $18,000. In contrast, in the US Gulf, although rates were gently improving, overall action was minimal comparing to other routes. A 38,000-dwt reported fixed delivery South West Pass to redelivery Balboa-Puerto Quetzal range with agriproducts $11,800. Meanwhile, in Asia, the market remains strong, with a healthier demand-supply balance, particularly in Southeast Asia, where several strong fixtures were reported. A 40,000-dwt heard fixed Kunsan spot fixed for trip delivery South Korea to redelivery West Coast of India with steel products at $12,000.