Capesize

The Capesize market continued to climb towards the highs seen earlier this month before losing some momentum on the final day of the week. Nevertheless, the timecharter average edged up $142 week-on-week to close at $52,457.

In the Atlantic, both trans- Atlantic and fronthaul rates surged on Thursday following a week of growing anticipation, driven by reports of tightening tonnage availability in the North Atlantic and an expanding cargo book. However, softer fixture emerged towards the end of the week, prompting the C8 route to retreat by more than $1,000 to $62,938.

Despite the pullback, the route remained at its strongest level since early December last year. The C9 index followed a similar pattern, posting gains before easing back to finish the week at $91,494. In the Pacific, activity on the West Australia to Qingdao route remained steady, although rates came under pressure. The C5 index slipped from $16.685 to $15.625 on Friday, weighed down by a succession of fixtures reported by both miners and operators.

Panamax-Kamsarmax

Across the week, market sentiment strengthened across both basins, supported by improving fundamentals and firmer rate discussions. The Atlantic led the gains as increased cargo enquiry and tightening prompt tonnage availability in the North Continent and West Mediterranean drove stronger trans-Atlantic and fronthaul sentiment.

An 82,000-dwt fixed for a trans-Atlantic round trip at $21,300 while another fixed for $22,400 for a similar trip. An 82,000-dwt open in southern Spain fixed for a fronthaul trip via the US Gulf at $27,500. Demand from East Coast South America also improved, helping owners push rate expectations higher despite widening bid-offer spreads.

An 83,000-dwt was reported fixed at $23,000 plus a $1,300,000 ballast bonus, highlighting the firmer tone. In the Pacific, sentiment was more mixed. While prompt Indonesian demand softened earlier in the week, Australia and the North Pacific provided underlying support. An 82,000-dwt fixed an EC Australia round trip at $26,000 and an 81,000-dwt fixed at $20,500 for a similar trip. Conditions improved later in the week as Indonesian activity recovered, with an 82,000-dwt fixing for a trip via Indonesia to India at $25,500 and a 74,000-dwt fixing for Indonesia to South China at $15,500. Period activity was evident with an 81,000-dwt fixing for 1 year at $20,500 and an 82,000-dwt fixing for 7 to 9 months at $23,500.

Ultramax/Supramax

A subdued and flat week overall, with holidays in Asia causing disruption in the Pacific market. Demand from the North American market has slowed and the fronthaul rates have softened, although a 63,000-dwt was fixed basis delivery Norfolk for a trip China with petcoke at $34,500.

The South Atlantic rates managed to hold steady with the market more balanced, but the Mediterranean was lacking sufficient cargoes, with owners now considering ballasting. The bright spot in the Atlantic was the Continent with scrap demand pushing rates on Ultramaxes close to $40,000 for trips to East Mediterranean.

In Asia the North Pacific remained a hive of activity with a 66,000-dwt fixed via NoPac to Chittagong at $26,000 and plentiful backhauls with a 63,000-dwt fixed from Nansha via Gulf of Aden to the Mediterranean at $26,000. Indonesia continued to support tonnage in the south and the Bay of Bengal with a 64,000-dwt fixed from Haldia via Indonesia back to India at $22,000 and South African rates edged up this week with a 63,000-dwt fixed Richards Bay to Sri Lanka at $28,000 plus $280,000 ballast bonus. Despite the spot market moving sideways, period interest remained with a 64,000-dwt in Vietnam fixed for 5 to 7 months at $24,500 and a 60,000-dwt in Mumbai fixed for a longer period of 19 to 21 months at $18,000.

Handysize

The market maintained a mixed tone throughout the week, with the Atlantic firm and the Pacific steady. The Continent and Mediterranean began quietly before gathering momentum, supported by strong scrap demand, with rates improving as the week progressed. A 36,000-dwt vessel open Rotterdam 2–4 October was fixed via the Baltic to the East Mediterranean with scrap at $26,000. The South Atlantic remained steady, while the US Gulf was consistently well supported by healthy demand and a shortage of prompt tonnage. Notable fixtures included a 38,000-dwt vessel open Coronel 21 September, fixed for a trip from Recalada to the West Coast of South America with grains at $29,500, and a 34,000-dwt vessel open Brownsville 22–25 September, fixed from SW Pass to Spain with grains at $25,000. In Asia, holidays restricted activity and kept the market broadly flat, although healthy enquiry and a gradually tightening tonnage list offered some support. A 39,000-dwt vessel open CJK prompt, fixed for a trip to the West Coast of Central America at $21,500.