Capesize
The market had a strong performance during the week, gaining momentum from a cautious but positive start to a broad-based rally midweek, before showing signs of consolidation at high levels by Thursday. The BCI 182 5TC rose more than $6,000 over the course of the week, supported by improving sentiment and tightening fundamentals. The Pacific region led the initial gains, as sustained mining activity pushed C5 prices from the mid-$12s to the mid-$13s, supported by continued realization and rapid tonnage tightening. In the Atlantic, southern Brazilian and West African markets saw strong demand, especially at the start of the week, with C3 rates rising to the mid-$32s on the index dates. Continued installation activity has gradually reduced the payload list, providing essential support despite some volatility during the week. The North Atlantic region also improved, with transatlantic front lines and compositions becoming more stable reflecting stronger demand.
Panamax
This week has seen steady consolidation in the Atlantic and Asian Panamax markets, with sentiment gradually improving each day. In the Atlantic, tightening cargo supplies early in the week gave way to increased demand, especially for grain trade and forward transport, pushing prices consistently higher despite a clear tonnage list. P1A rose from $13,155 on Monday to $14,270 by Thursday. In Asia, the continued influx of cargo from Australia and Indonesia, coupled with a gradual decline in tonnage numbers, supported price gains and increased activity during the period. Overall, improving bidding, resilient owner resistance, and strong consignment volumes fueled a positive market trajectory. P5TC price rose from $16,757 to $17,773 during the week.
Ultramax/Supramax
It was a positive week for the sector with increased demand and a slight tightening in express load availability in a few key areas. The American Gulf gained momentum as the week progressed, with 63,000 DWT heard to have been fixed at the low $30,000 mark for the transatlantic voyage. Better interest levels from the South Atlantic, the 64,000 dwt Santos voyage to China for the low sum of $17,000 plus a low ballast bonus of $700,000. In contrast, the Mediterranean continent remained rather weak. 61,000 ton flatbed delivery to Spain for a voyage to the US East Coast at $10,750. Both the Indian Ocean and Asian arenas saw upward momentum with coal demand from South Africa seeing a South African voyage to install 64,000 dwt to India at a price of US$26,500 plus US$265,000 in ballast bonus. From Asia, North remained healthy with a 57,000 dwt anchorage voyage in North China, re-delivery to South Africa at $18,000. While in the south, a 60,000 dwt fixed-delivery Southeast Asia flight via Australia and re-delivery to Japan at a price of $19,000. Period activity appeared, with 61,000 deadweight tons trading 3-months at $19,000.
Handy size
The market maintained a generally positive tone over the past week, with a gradual improvement in prices and sentiment, especially in the middle of the week. The Continent and Mediterranean remained the quieter region throughout, with limited new inquiries and largely topical sentiment keeping interest rates broadly unchanged. A 40,000 ton anchorage voyage from the eastern Mediterranean to the continent is priced at $11,000. The US Gulf region stabilized compared to previous weakness, showing a more balanced dynamic between supply and demand with minimal price fluctuations. 37,000 dwt to repair scrap from American Gulf redelivery to Peru at $12,500. In the South Atlantic, sentiment continued to improve despite a limited reported outlook, as market participants pointed to better ideas and improving underlying fundamentals. Across Asia, the market showed steady support, supported by tight express tonnage and a steady flow of goods. Activity and sentiment gradually improved, with demand increasing and installations stabilizing by mid-week. A fixed delivery of 37,000 dwt to Western Australia is being redelivered to China for $17,000. Period action was also noted, as a 38,000 dwt installation delivered Southeast Asia for a short period in the high $8,000s.
Source: Baltic Stock Exchange
