The Capesize dry bulk shipping market experienced a period of gradual strengthening, particularly from midweek onwards. Increased activity and tighter tonnage in both the Pacific and Atlantic basins contributed to this positive momentum. The BCI 5TC showed a steady rise throughout the week, closing at $23,697, an increase from $20,544 at the start.
In the Pacific, consistent activity from miners, improved coal cargo volumes, and a solid flow of operator-controlled shipments helped bolster the market. Rates on the C5 route climbed, peaking at $11.58 before settling at $10.665 by the week’s end. Meanwhile, the South Atlantic faced a persistently short tonnage list of ballasters, pushing C3 levels from $22.50 up to the $25 range for mid-April dates, supported by new cargo arrivals.
The Panamax market also gained momentum midweek, with rates surging due to strong demand across the Atlantic, specifically from North and South America. The FFA market provided additional support, resulting in a flurry of deals at elevated levels, including a notable contract for an 82,000-dwt vessel achieving $15,500 for a year. Demand from minerals and grains, along with a tight tonnage count, contributed to this surge, especially following a binge of fixing from East Coast South America.
Although some market participants adopted a cautious approach by week’s end, the immediate outlook appears favorable for vessel owners. In the Ultramax/Supramax sector, the week showed a more positive trend, especially in Asia, while the Atlantic experienced mixed results due to tariffs affecting trading strategies. The US Gulf market remained flat, exemplified by a 63,000-dwt fixing at $17,000 from the Gulf to India.
Meanwhile, stronger rates emerged as the week progressed in Asia, with fixtures such as a 63,000-dwt vessel secured for a trip from Cigading to West Coast India at $18,000. For the Handysize segment, performance varied, with rates showing slight improvements in European regions but remaining sluggish in the South Atlantic and U.S. Gulf due to increasing tonnage and limited cargo. However, Asia remained buoyant, particularly in Southeast Asia and the North Pacific, leading to strong fixtures.
Notably, a 39,000-dwt vessel secured $11,500 for a trip from Guayaquil to Japan, highlighting the ongoing demand in key regions.