The Capesize market witnessed a significant rise this week after a slow start attributed to the Easter holidays. The BCI 5TC index climbed to $15,667, up from $13,774 earlier in the week.
Midweek, the Pacific region displayed improved sentiment as C5 rates increased, buoyed by higher cargo volumes and active mining operations. By week’s end, a tightening tonnage list and heightened fixing levels suggested a strengthening market, with the C5 index moving from $7.085 to $7.815.
The Atlantic basin experienced similar positive trends, backed by a firmer FFA market and strong demand from South Brazil and West Africa for shipments to China. A surge in fixtures midweek pushed the C3 index up from $18.685 to $19.755.
Additionally, the North Atlantic Fronthaul market saw considerable activity, particularly for cargoes from Eastern Canada to China. In the Panamax sector, the Atlantic market drew attention, likely due to the pre-Easter easing of US tariffs.
Strong demand impacted rates positively, notably through multiple fronthaul fixtures from North Coast South America to China, where rates reached up to $20,000 for 82,000-dwt vessels. The demand for Trans-Atlantic grain further boosted momentum.
In Asia, rates gradually increased throughout the week, given the optimism from the Atlantic regarding southern tonnage. The North Pacific maintained stable rates around $12,000, while rumors emerged of a well-described vessel achieving $15,500 for extended trading in Indonesia.
The Ultramax and Supramax markets behaved differently, with the Atlantic region experiencing sluggish activity, particularly in the Continent and Mediterranean areas. In contrast, the Asian market flourished, with improved rates observed from South Africa and Indonesia.
The limited period activity in the sector dulled the prospects, although some fixtures reached up to $17,000. The Handysize market showed limited visible activity in both basins, with a flat overall sentiment.
The Continent and Mediterranean experienced weak conditions, with rates slightly declining. In the South Atlantic, slight increases in rates were seen due to stable tonnage and fresh demand.
Meanwhile, the U.S. Gulf and Asian markets remained unchanged, reflecting a stable supply situation without significant rate changes. Overall, the outlook varied across sectors, with signs of strength in specific areas while others remained subdued.