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HomeAfricaMixed week for shipping

Mixed week for shipping

Mixed week for shipping
Capesize
At the beginning of the week, the Pacific market showed promising activity with healthy cargo volumes. However, despite this, conditions slightly weakened, and the Atlantic market remained subdued, as the week got underway. Nevertheless, as the week progressed, the Pacific market saw increased activity, particularly before the Singapore holiday, with C5 stabilizing around the $8.90 mark. Meanwhile, the Atlantic market continued to lag behind, with minimal engagement and limited discussions. Despite a quiet day during the midweek holiday in Singapore, there was a positive turn as the market rebounded, reflecting growing confidence. Improved timecharter fixtures led to substantial surges in the C10 and C5 indices, signaling a positive momentum shift. Similarly, the Atlantic market showed signs of improvement, with a widening gap between bids and offers as the bids began to improve. Overall, it has been a positive end to the week as evidenced by the BCI 5TC rising by $641 to close at $21,164 having started the week at $18,226.

Panamax
A mixed week, the opening part returned weaker rates only to find some impetus mid-week to flatten out as the week ended. In the Atlantic, a pick-up of grain demand mid-week both from South and North Coast South America drove rates forward, an 81,000-dwt delivery North France achieving $23,000 for a trip via NC South America redelivery Far east. The north of the arena by comparison lacking demand but weirdly saw a tightening tonnage count to leave rates in the balance. Asia blighted by various holidays had a muted feel but we end with solid demand appearing primarily ex Australia, a scrubber fitted 82,000-dwt delivery China was heard fixed at $15,000 for a trip via EC Australia redelivery India and with firm sentiment emanating from the South Atlantic rates would have appear to be supported. Limited period fixing; however, an 82,000-dwt delivery China was heard fixed basis six to nine months at $18,000.

/Supramax
Mixed blessings for the owning side this past week, whilst the Atlantic appeared rather positional the widespread holidays in Asia saw limited action although sentiment seemingly remained fairly positive with tonnage supply remaining relatively tight. From the Atlantic better levels were seen from the US Gulf but from the South Atlantic it remained finely balanced. There was also more fresh enquiry from the Mediterranean and Continent. A 60,000-dwt open US Gulf was heard fixed for a trip via Red Sea redelivery Port Said. A 63,000-dwt open North Continent was also heard fixed for a trip via the Baltic to South Africa at $18,500. From Asia, a 57,000-dwt fixed delivery passing Hoping trip via East Kalimantan redelivery WC India at $10,000. Whilst a 53,000-dwt fixed delivery Singapore trip via Indonesia redelivery China at $12,750. More activity surfaced from the Indian Ocean, a 63,000-dwt fixing delivery Port Elizabeth trip redelivery China at $22,500 plus $225,000 ballast bonus.

Handysize
In a week with more holidays across large portions of the globe due to Eid, visible activity remained muted. In the South Atlantic, limited cargo availability remained an issue for Owners and a 32,000-dwt was rumored to have been fixed for a trip from Recalada to Algeria with an intended cargo of grains at $16,500 whilst a 37,000-dwt opening in Nueva Palmira was rumored to have failed on subject’s basis delivery when we’re ready via the River Plate to Algeria at $18,500. There were unconfirmed rumors on the Continent of a 37,000-dwt fixing from the French Bay to North Coast South America at around $10,000 but further details had yet to surface. In Asia, cargo availability from Australia and Indonesia remained limited, keeping levels soft for tonnage in the region, with a 37,000-dwt opening in EC India being fixed basis delivery passing Singapore via Australia to North China with an intended cargo of grains at $11,000.
Mixed week for shipping