Jthere was little support for the Capesize market over the past week as falling rates and rising bunker prices squeezed revenue for owners, with the 5TC weighted average falling to $7,390. There wasn’t much left for the Pacific, as the price of the Transpacific C10 was under $4,200. The Atlantic basin fared a little better, but very few devices were heard. The Transatlantic C8 was down -$8,100 on the week to settle at $11,200. Frontline businesses were more difficult to place over the week as shorter duration variants dropped their values ​​faster, while long distance travel proved more resilient to negative sentiment. The negative sentiment ultimately proved too much for the C9 route and by the end of the week closed at $27,950, down -$7,825. The high price of fuel bunkers comes at an inopportune time as they now occupy a large portion of the value of travel fares, which has a detrimental effect on travel fares. The West Australia to Qingdao C5 at $6.786 and the Brazil to China C3 at $17.28 came under heavy pressure.


It was another weak week for the Panamax market, as low cargo volumes relative to long tonnage continued to negatively impact the market. An obvious lack of mineral requirements in the North Atlantic only hampered things. An 81,000 dwt settling at $18,500 for an Atlantic NC South America round, while in the South – despite reasonable demand – rates continued to ease with an armada of ballast tonnage from which charterers could choose. Asia mirrored the Atlantic with a supply/demand imbalance. Ores from Australia may have been the exception, but that did little to reduce existing tonnage and ultimately rates continued to decline. On Thursday came the news of the lifting of the coal export ban in Indonesia and the sentiment turned around a bit largely thanks to the improving FFA. However, some felt that it would take some time before a positive impact could be seen in the market with physical fundamentals essentially unchanged.

Supramax / Ultramax

Negative sentiment was generally in the driver’s seat as most parts of the sector saw rates drop. There was a limited amount of period activity. An open Portugal of 60,000 dwt was set for 11-13 months, trading new Atlantic delivery at $25,000 with a worldwide delivery option at a bonus of $750,000. The Atlantic remained subdued with few new inquiries from key regions such as the Gulf of the United States and the East Coast of South America. A 61,000 dwt set from the US Gulf for a Red Sea voyage at $41,000. From the western Mediterranean, a 50,000 dwt was priced at $26,000 for redelivery to the west coast of India. With the ban on coal exports from Indonesia lifted at the end of the week, there remained a substantial amount of fast tonnage in Southeast Asia, keeping rates low again at the end of the week. week. Further north, the size of Ultramax has reached $20,000 for round-trip NoPac trips. Most eyes are set on the week ahead to see if a change in direction will take place.

Convenient size

Another week of negativity with a lack of new surveys in most areas. Activity in the period was limited, but an open Japan of 38,000 dwt set new three to five month trade delivery worldwide at $25,000, while in South East Asia a 34,000 tpl again pegged three to five months trading at $21,000. In the Atlantic, a Skaw open of 38,000 dwt set via the Baltic to the north coast of South America at $17,500. An open Denmark of 33,000 dwt set from La Pallice to Abidjan with an expected cargo of wheat at $20,000. An opening of 39,000 dwt at Karmoy set a voyage to the west coast of India and the Arabian Gulf range at 27,500. A 28,000 dwt set from the Black Sea to the east coast of Central America at 17 $000 with an expected cargo of steels. A 39,000 dwt open in the US Gulf has been secured to the mainland with an expected cargo of wood pellets at $23,000. From Asia, an open China of 33,000 dwt was linked to a voyage via Australia with further delivery from the Arabian Gulf at $19,000.
Source: Baltic Stock Exchange