Dry Bulk Market: Capesize Ends Week on Positive Note
In the world of international shipping news, the Dry Bulk Market saw the Capesize Timecharter Average (C5TC) closing on a positive note at $21,674 on Friday. Despite being $500 lower week-on-week, the C5TC was $5,000 higher year-on-year. The West Australia to China trade held steady in the high $9s to mid $10s range, with Brazil experiencing good weather and activity picking up towards the end of the week, settling at $24.765. The Atlantic market had a mix of high and low fixtures, with Laycan playing a crucial role in fixing trans-Atlantic and fronthaul runs.
Moving on to the Panamax market, it was mostly flat for the week, with some parts of the Asian basin seeing a rise in demand. The trans-Atlantic voyages had thin visibility, while fronthaul activity showed steady grain and mineral demand from the Americas. In Asia, there was strong activity, especially ex Australia, with reports of good rates for various trips. Period activity was minimal, but rumors circulated about a modern 81,000-dwt vessel achieving a good rate on a period basis.
The Ultramax/Supramax sector had a subdued week due to holidays in Europe and Asia. Rates were lower in the Atlantic as fresh enquiries dwindled, with prompt tonnage readily available. Activity in Asia was limited, with some fixtures reported at lower rates. The Indian Ocean saw some action, with rates holding steady. Period action was minimal, but there were some fixtures reported for short-term trading.
In the Handysize segment, cargo availability improved in the Atlantic, but high levels of prompt tonnage limited gains. Activity in the US Gulf remained visible, with fixtures reported to various destinations. Asian markets stayed positive, with healthy cargo availability supporting an upward trend. The Arabian Gulf remained active, with fixtures reported for trips to different destinations.
Overall, the dry bulk market showed varied activity across different segments, with rates and demand fluctuating based on regional factors and holidays. Stay tuned for more updates on the international shipping news front.
Source: Baltic Exchange
Keywords: Dry Bulk Market, Capesize, Panamax, Ultramax, Supramax, Handysize, international shipping news, shipping rates, cargo availability, freight market.