Home / Shipping News / Dry Bulk Market / Dry Bulk Market: Capesize Segment Slightly Higher

Dry Bulk Market: Capesize Segment Slightly Higher


The week concluded on a quiet yet optimistic note, with the BCI 5TC experiencing a slight increase of $178, reaching $24,867. Cargo volumes have remained stable in the Pacific, where trading activity gradually increased, culminating in a significant rise midweek. The C5 index saw incremental gains throughout the week, ending at $11.245. In the Atlantic, sentiment was upbeat, particularly for the South Brazil and West Africa to China markets, resulting in the C3 index consistently rising, closing the week at $25.765. However, the Trans-Atlantic market remained somewhat subdued, with little trading activity. Additionally, there were a couple of stronger fixtures from East Coast Canada to the Far East, pushing the C9 index up to $49,156 by the end of the week.


A compelling week for the Panamax market, thwarted in parts by shipping functions during Posidonia week, but a strong mid-week push from both the South and North America for route P6 window gave the market as a whole some momentum. The North Atlantic remained underwhelming still but sufficient fronthaul enquiry both grains and minerals ate away at some of the burgeoning tonnage count, indicatively an 82,000-dwt delivery Continent agreed $27,000 for a coal trip via US East Coast redelivery India. Asia, aided by strength from South America saw healthy rises too, with solid demand all week both from Australia and Indonesia, whilst the NoPac market less so, reports mid-week of an 81,000-dwt delivery Japan fixed at $17,000 for an Australian round trip, around the mean average for the week. Period activity was limited overall, however did include reports of a newbuilding 82,000-dwt delivery ex yard China fixed basis four to six months at $19,400.


With the large gatherings from around the world during Posidonia week the sector was a rather subdued affair. In the Atlantic, the US Gulf bucked the overall downward trend as a slightly more positive sentiment was seen, although limited fresh fixing surfaced. As the week closed, green shoots were appearing from the South Atlantic, maybe following the uptick in the Panamax sector again though information remained scarce. Elsewhere the Mediterranean lacked impetus, a 58,000-dwt fixed a trip delivery East Mediterranean redelivery West Africa at $10,750. Asia also remained rather subdued, a 61,000-dwt fixing a trip delivery Indonesia redelivery China at $15,500. Whilst a 56,000-dwt fixed delivery South China for a trip via Campha to Chittagong at $16,000. The Indian Ocean was rather muted, a 63,000-dwt open Tuticorin fixing a trip via South Africa redelivery China at $17,000. From the Arabian Gulf a 61,000-dwt fixed a trip via West Coast India redelivery China at $17,000. All eyes on the upcoming week to see if these trends will continue.


With Posidonia attracting many to its shores the Atlantic was muted, with limited fresh enquiry and a sense of negativity shrouding the region. A 40,000-dwt opening in Ijmuiden was fixed basis delivery Brake for a trip to the US East Coast with an intended cargo of steels at $10,750 whilst a 34,000-dwt was fixed from North France to Morocco with an intended cargo of grains at $7,000. A lack of prompt enquiry in the US Gulf continued and some vessels were said to be taking seven days waiting time to secure their next employment. The South Atlantic similarly saw limited prompt enquiry but signs of improvements for the end of June and into July gave some hope of positivity returning. A week of two halves for the Asia markets which started brightly for Owners with limited tonnage availability with a 38,000-dwt opening in Mundra fixing via Australia to the Arabian Gulf at $14,000 but activity dwindled as the week progressed.
Source: Baltic Exchange

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping
error: Content is protected !!