Capesize Market
The Capesize market faced another week of falling rates in the Pacific and Atlantic regions. In the Pacific, rates for C5 routes dropped by $2.20 due to a bearish sentiment and an expanding tonnage list, despite increased coal cargo activity from Indonesia and Australia. Meanwhile, in the Atlantic, owners adjusted offers to attract buyers, particularly in routes from South Brazil and West Africa to the Far East. Still, the lack of demand resulted in declining rates. The BCI 5TC index fell from $28,805 to $18,461, making it a challenging week for Capsize shipping.
Panamax Market
The Panamax sector had a moderately paced week with reduced activity in both shipping basins. In the Atlantic, there was a focus on South America’s east coast, while Asia began the week on a positive note due to strong grain demand. However, oversupply of tonnage kept rates in check, and period activity remained limited.
Ultramax/Supramax Market
The Ultramax/Supramax sector saw subdued activity, with minimal fresh inquiries in both the Atlantic and Asia. Rates and activity varied depending on routes and vessel sizes.
Handysize Market
The US Gulf and US East Coast saw positive developments due to limited vessel availability, while other regions experienced softening rates and limited fresh inquiries in the Mediterranean, South Atlantic, and Asia markets.
