The capesize market showed a steady positive trend throughout most of the week, with the BCI 5TC starting at $19,499 on Monday and peaking at $20,509 on Wednesday. Each day saw slight gains, driven by positive sentiment and increasing activity in the Pacific where the major miners became more active midweek, leading to a surge in fixtures and an uplift in sentiment, resulting in the C5 index peaking at $9.885. The Atlantic market, although quieter, maintained a positive tone with steady improvements in the C3 index, which started the week at $23.67 and by Friday settled at $24.695, which was driven by demand from South Brazil and West Africa to China. Late in the week, the market saw a flurry of activity, with a major securing a handful of vessels at varying rates across mid-August to early September dates. The week wrapped up on a quieter note as anticipated due to the holiday in Singapore, with the BCI 5TC ending relatively flat at $20,213.
Panamax
The Panamax market had a negative return this week. With limited activity emerging, the North Atlantic drifted further as the week progressed, with a few signs of better fronthaul rates midweek failing to materialise into much. EC South America returned an underwhelming level of demand as rates receded throughout the week, $18,500 + $850,000 concluded a couple of times delivery Aps load port Mid-August dates for trips to Far East. From Asia, a smattering of NoPac fixtures emerged mid-week, with rates ranging between the $12,000 and $14,000 mark, whilst trips via Australia to India were discounted to standard Pacific rounds with some preferring the reposition angle. Rates overall were pegged down as demand ex Indonesia was mostly absorbed up by the smaller and older tonnage with rates now in single digits. Limited period talk this week however reports early part of an 82,000-dwt delivery China fixed basis one-year at $18,250.
Ultramax/Supramax
As the summer holiday season continued, it was a very lacklustre week. The Atlantic generally saw further weakening, although as the week came to a close some felt there might me a slight upturn from the US Gulf. The South Atlantic remained finely balanced, with a 63,500-dwt fixing a trip from Santos to the Far East in the mid $17,000s plus mid $700,000 ballast bonus. The Continent-Mediterranean remained fairly uneventful, although it surfaced 56,000-dwt fixed delivery West Mediterranean trip via Suez redelivery Arabian Gulf at $20,000. The Singapore holiday on Friday did not help a rather flat week as brokers spoke of little fresh enquiry entering into play both north and south. However, a 52,000-dwt fixed delivery North China for a trip to WC India-Pakistan at around $11,000. Whilst a 65,000-dwt fixed delivery South Korea for a NoPac round in the mid $13,000s. Period activity remained slow, with a 53,000-dwt open East Africa fixing 4/6 months trading at $14,000.
Handysize
Like its larger sisters, brokers said that, with many players away on vacation, it was a rather dull week. The Continent-Mediterranean lacked much fresh impetus and brokers said that rates had eased, with a 34,000-dwt fixing delivery Greece for a trip to the Continent in the low $8,000s. A little more activity was seen from the South Atlantic and rates from here remained rather flat. However, a well-described 40,000-dwt fixed a trip delivery Recalada for a trip to the Continent at $20,750 (scrubber benefit for owners). From Asia, following on from last week fundamentals varied little, with a 31,000-dwt fixing delivery China for a steels run to the Philippines at $11,250. Whilst a 37,000-dwt open North China fixed a backhaul to the Continent in the upper $17,000s. Period activity remained rather thin on the ground, with a 38,000-dwt open Thailand fixing a short period redelivery worldwide in the upper $15,000s.
