Capesize

The market delivered a mixed but broadly resilient performance, with the Pacific providing the principal source of activity and direction. Consistent miner presence supported C5 throughout the week, although rates initially eased from just below $14.00 into the low $13s.

The market subsequently rebounded, with increased operator demand pushing levels back into the mid-to-upper $14s as the week drew to a close, potentially reflecting efforts to secure coverage ahead of the tropical depression in the northern South China Sea.

In contrast, the South Brazil and West Africa-to-China markets remained subdued despite a healthy cargo book and a broadly steady ballaster list. Limited trading kept C3 values confined to the mid-to-upper $35s, while attention increasingly shifted towards end-September nominations as the next potential catalyst. The North Atlantic showed early signs of strength, supported by improved fronthaul fixtures and firmer transatlantic activity. However, momentum faded towards the close as activity slowed and tonnage availability increased, leaving the supply position slightly longer.

Panamax-Kamsarmax

Over the course of the week, sentiment in both the Atlantic and Pacific basins remained under pressure, with the P5TC posting consecutive daily declines. The Atlantic market was characterised by ample tonnage availability as vessel supply continued to outweigh demand.

Among the limited reported deals, a scrubber-fitted 81,000-dwt vessel fixed a NC South America to Egypt trip at $23,000 daily, basis redelivery passing Gibraltar, with the scrubber benefit for the charterer. An 82,000-dwt vessel fixed a fronthaul from the US East Coast to Southeast Asia at $30,750, while another 82,000-dwt vessel open EC India fixed $21,250 via EC South America to the Far East. In the Pacific, fundamentals remained relatively stable despite plentiful prompt tonnage.

Reported fixtures included an 81,000-dwt vessel fixing an Australia round trip at $19,000, a 76,000-dwt vessel fixing a North Pacific round trip at $15,000, and a 75,000-dwt vessel fixing an Indonesia to South China stem at $16,000. Period activity improved, with an 81,000-dwt vessel fixing for 8 to 10 months at $19,000, an 82,000-dwt vessel fixing for 5 to 7 months at $17,900, and a 74,000-dwt vessel fixing for 2 to 3 laden legs at $16,150.

Ultramax/Supramax

The week saw small improvements in the East and a softening in most of the Atlantic. The beginning of the week saw North America maintaining firm rates with a 63,000-dwt fixed for petcoke to India-Japan at $34,000 and a similar type fixed for grains to the East Mediterranean at $32,000, but as the week progressed rates eased as fresh enquiry dwindled.

The Continent and Mediterranean markets were subdued with owners forced to accept levels below last done, but the South Atlantic saw pockets of improvement as tonnage availability tightened and was the only area in the Atlantic which was positive. In Asia rates showed small gains with North Pacific grains still the main driving force with a 63,000-dwt open CJK fixing a NoPac round voyage at $18,750, which was an improvement of around $1,000 daily on last week.

Southeast Asia saw increased volume particularly Indonesian coal, but rates only increased slightly, whilst the Indian Ocean recovered somewhat after a disappointing week last week with a 66,000-dwt fixed basis Port Elizabeth for a trip to China at $25,000 plus $250,000 ballast bonus being the main highlight. There was still steady period interest, with rates remaining fairly flat.

Handysize

The market was largely subdued over the week, with sentiment mixed and mostly positional across both basins. The Continent and Mediterranean remained under pressure, as limited fresh enquiry and a lack of visible momentum kept activity restrained.

A 36,000-dwt open Iskenderun was reported fixed for a trip to NC South America-US Gulf. In the South Atlantic, conditions were broadly balanced to slightly firmer, supported at times by improved cargo flows and a shortage of prompt tonnage. A 40,000-dwt was heard fixed from Recalada to the US Gulf at $18,500. By contrast, the US Gulf continued to soften, as demand was insufficient to absorb the growing tonnage list.

A 35,000-dwt was fixed from St Lawrence to Morocco at $19,500. Across Asia, the market held relatively steady, with pockets of activity and some support from tight prompt tonnage, although fixture information remained limited. A 40,000-dwt open Malaysia was reported fixed for an Australia round trip in the $19,000s. Period interest remained present, with 40,000-dwt open Jakarta 16–20 August, was reported fixed for a short period at $19,500.