Capesize market shows signs of improvement

Capesize

Nevertheless, as the week progressed, the Pacific market saw increased activity, particularly before the Singapore holiday, with C5 stabilising around the US$8.90 mark. Meanwhile, the Atlantic market continued to lag behind, with minimal engagement and limited discussions. Despite a quiet day during the midweek holiday in Singapore, there was a positive turn as the market rebounded, reflecting growing confidence. Improved time-charter fixtures led to substantial surges in the C10 and C5 indices, signalling a positive momentum shift. Similarly, the Atlantic market showed signs of improvement, with a widening gap between bids and offers as the bids began to improve. Overall, it has been a positive end to the week as evidenced by the BCI 5TC rising by US$641 to close at US$21 164 having started the week at US$18 226.

Panamax

It was a mixed week, the opening part returned weaker rates only to find some impetus mid-week to flatten out as the week ended. In the Atlantic, a pick-up of grain demand mid-week both from South and North Coast South America drove rates forward, an 81 000 DWT delivery North France achieving US$23 000 for a trip via NC South America redelivery Far east. The north of the arena by comparison lacking demand but weirdly saw a tightening tonnage count to leave rates in the balance. Asia blighted by various holidays had a muted feel but we end with solid demand appearing primarily ex Australia, a scrubber fitted 82 000 DWT delivery China was heard fixed at US$15 000 for a trip via EC Australia redelivery India and with firm sentiment emanating from the South Atlantic rates would have appear to be supported. Limited period fixing; however, an 82 000 DWT delivery China was heard fixed basis six to nine months at US$18 000.

Ultramax/supramax

Mixed blessings for the owning side this past week, whilst the Atlantic appeared rather positional the widespread holidays in Asia saw limited action although sentiment seemingly remained fairly positive with tonnage supply remaining relatively tight. From the Atlantic better levels were seen from the US Gulf but from the South Atlantic it remained finely balanced. There was also more fresh enquiry from the Mediterranean and Continent. A 60 000 DWT open US Gulf was heard fixed for a trip via Red Sea redelivery Port Said. A 63 000 DWT open North Continent was also heard fixed for a trip via the Baltic to South Africa at US$18 500. From Asia, a 57 000 DWT fixed delivery passing Hoping trip via East Kalimantan redelivery WC India at US$10 000. Whilst a 53 000 DWT fixed delivery Singapore trip via Indonesia redelivery China at US$12 750. More activity surfaced from the Indian Ocean, a 63 000 DWT fixing delivery Port Elizabeth trip redelivery China at US$22 500 plus US$225 000 ballast bonus.

Handysize

In a week with more holidays across large portions of the globe due to Eid, visible activity remained muted. In the South Atlantic, limited cargo availability remained an issue for Owners and a 32 000 DWT was rumoured to have been fixed for a trip from Recalada to Algeria with an intended cargo of grains at US$16 500 whilst a 37 000 DWT opening in Nueva Palmira was rumoured to have failed on subject’s basis delivery when we’re ready via the River Plate to Algeria at US$18 500. There were unconfirmed rumours on the Continent of a 37 000 DWT fixing from the French Bay to North Coast South America at around US$10 000 but further details had yet to surface. In Asia, cargo availability from Australia and Indonesia remained limited, keeping levels soft for tonnage in the region, with a 37 000 DWT opening in EC India being fixed basis delivery passing Singapore via Australia to North China with an intended cargo of grains at US$11 000.

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