Weekly detailed analysis of world shipping freight markets for all major routes for April 7 - 13, 2026.
Capesize (Atlantic and Pacific)
The Capesize freight market recorded modest gains over the week amid persistently sluggish activity, with limited fixture volumes in both the Pacific and Atlantic basins. Public holidays in parts of Asia and Europe early in the period, combined with adverse weather at northern Chinese ports (including fog at Qingdao and Zhoushan), constrained trading momentum; conditions began to ease by 10 April. In the Pacific, iron ore enquiry from Western Australian miners provided some support, though a notable dearth of tonnage offers on 10 April suggested charterers might need to pay firmer levels to secure cover. On the key Western Australia– Qingdao route, initial indicative offers opened around USD12.30– 12.40/wmt before settling in the low USD12s. Fixtures included two vessels from Dampier to Qingdao at approximately USD11.95/wmt for 26–28 April laycan and further Dampier cargoes at around USD11.85/wmt for 25–27 April laycan. The representative Capesize rate for 170,000 metric tonnes (±10%) of iron ore from Western Australia to Qingdao closed the week at USD12.05/wmt on 10 April. Atlantic activity remained rangebound. Several Brazil–Qingdao fixtures were concluded at levels around USD30/wmt, including Tubarao cargoes for early-May laycans at USD30.00–30.15/wmt. The representative rate on the Tubarao–Qingdao route stood at USD30.15/wmt on 10 April. South African activity was limited, with the Saldanha Bay–Qingdao route assessed at USD21.90/wmt by week’s end; a small number of coal stems to India provided marginal support. Freight derivative rates rose during Asian trading hours on 10 April. Overall, the market remained sensitive to tonnage positioning and weather-related delays, with voyage freight expected to hold current levels given firmer time-charter equivalents and lower bunker prices.
Panamax (Atlantic and Pacific)
During the week, the Atlantic market showed a steady flow of fixtures, with activity gradually building and a stronger finish towards the end of the week, particularly on ECSA and NCSA fronthaul routes. On Monday, an 85,000-dwt Kamsarmax built in 2022 was fixed delivery ECSA for a grains trip with redelivery Southeast Asia at USD21,000 per day plus a ballast bonus of USD1.15 million. A modern 82,000-dwt Kamsarmax built in 2025 (scrubber fitted) was also fixed retro Singapore for a trip via ECSA with redelivery Singapore/Japan at USD20,500 per day. Meanwhile, an older 82,000-dwt unit built in 2010 achieved USD18,400 per day for a similar ECSA fronthaul, highlighting the usual age-related discount. On Tuesday, activity remained steady. A 77,000-dwt Kamsarmax built in 2014 opening Gibraltar was fixed for a trip via NCSA with redelivery Singapore/Japan at USD22,750 per day. In contrast, a modern 82,000-dwt Kamsarmax built in 2024 fixed via ECSA achieved a lower level of USD17,500 per day, reflecting some variability depending on positioning and cargo stems. On Wednesday, a modern 82,000- dwt Kamsarmax built in 2025 was fixed opening Haldia for a grains trip via ECSA with redelivery Singapore/Japan at USD22,400 per day, indicating firm demand for modern eco tonnage. On Thursday, the market strengthened further. An 82,000-dwt Kamsarmax built in 2017 opening Abidjan was fixed for a trip via NCSA with redelivery Singapore/Japan at around USD28,750–29,000 per day, marking one of the highest levels of the week and confirming strong fronthaul demand. By Friday, activity increased significantly with a wide range of fixtures reported. An 82,000-dwt Kamsarmax built in 2012 was fixed APS ECSA for a trip to the Red Sea at USD20,500 per day plus USD1,000,000 ballast bonus, while another 77,000-dwt unit built in 2015 achieved a similar level with a higher ballast bonus of USD1,100,000. NCSA business remained firm, with an 82,000-dwt Kamsarmax built in 2012 fixed at USD27,000 per day for a trip to Skaw/Gibraltar and another similar unit fixed at USD25,500 per day for Singapore/Japan. Transatlantic and US Gulf activity was also strong, with an 85,000-dwt vessel built in 2024 fixed via USEC to India at USD27,500 per day.
The Pacific market remained reasonably active this week, with a steady flow of fixtures across the main routes. Overall sentiment was broadly balanced, as a slight increase in tonnage availability across the basin helped keep rates supported, despite some emerging volatility with a few fixtures reported below market levels, even for older units. In Indonesia, activity was steady, supported by a consistent presence of coal cargoes. Rates showed a wide spread depending on vessel positioning and promptness. A 76,000-dwt vessel built in 2004 open Bahodopi fixed via Indonesia for redelivery China at USD21,000, while a 76,000-dwt vessel built in 2012 open Davao achieved USD18,000 for redelivery South China. On the softer side, a 77,000-dwt vessel built in 2004 open Prachuap fixed at USD13,000 for redelivery South Korea. In the NOPAC region, activity was moderate, with grain cargoes continuing to underpin demand. Rates held relatively stable, with a clear premium for modern tonnage. An 82,000-dwt vessel built in 2020 open Dalian fixed via NOPAC for redelivery Singapore-Japan at USD16,500, while an 82,000-dwt vessel built in 2007 open Zhoushan achieved USD14,500. A more modern 81,000-dwt vessel built in 2018 open Zhoushan fixed at USD20,000. On the East Coast Australia front, demand remained consistent with stable rates. An 82,000-dwt vessel built in 2015 open Kobe fixed via East Coast Australia for redelivery India at USD19,750, while a 75,000-dwt vessel built in 2012 open Dongjiakou achieved USD16,500 for Southeast Asia.
Handy (North Europe/Black Sea/Mediterranean)
Cargo enquiries in the region appeared quiet with a long tonnage list on the other side. Slightly falling bunker prices increased negotiationsfor voyage basis cargoes. On Handies, rates for Continent/Morocco trips were discussed in the USD12,000–13,000 per day range, while rates to ECSA stood at around USD8,000 per day for non-Russian loading. Russian calls paid a slight premium in the USD10,000–12,000 per day range for the same direction. On Supramaxes, owners were asking USD14,000–15,000 per day for scrap to Continent/East Med, and intercontinental via Russia was heard on a 60,000-dwt vessel at USD16,000 per day. Fronthaul was estimated in the high teens, now tending towards the USD20,000s, while transatlantic trips from Continent to USG remained discounted in the very low teens
The Black Sea and Mediterranean market showed no noticeable activity during the Christian and Orthodox Easter holidays. The small downward movement in bunker prices revived charterers for a day or two, but it did not last long. The list of open vessels in the area is not large enough to push rates down, even though cargoesremain limited. On the Handy side, intermediate trips for 38,000-dwt vessels traded at the USD8,000–8,500 per day level on basis delivery passing Canakkale, although most charterers’ ideas did not exceed the USD6,500–7,000 per day level. Transatlantic trips to USG and East Coast South America remained at USD9,500–10,000 to USG and USD7,500–8,000 to ECSA; the trip to USG actually improved as Handy values there dropped drastically over the past two weeks. Supramaxes exchanged numbers very close to those of the Handies for intermediate trips, i.e. USD8,500–9,000 per day. For trips to USG/USEC, rates stood between USD9,500 and USD10,000 per day. An Ultramax vessel was chartered at USD18,000 per day with redelivery Singapore/Japan; if loading in Ukraine, it was about USD1,500 more per day.
Handy (USA/N.Atlantic/Lakes/S.America)
USG market during the week was stable but increased a bit, especially in the last part of the week. On Supra/Ultra, one Ultramax was mentioned to have fixed around USD25,000 for a petcoke trip to the Red Sea with redelivery Port Said, which wasso far a huge rate. One 52,000-dwt vessel instead was rumoured to have fixed around USD19,000 aps USG for a petcoke trip to India on basis duration 50 days without guarantee. In the last part of the week, charterers started to rate around USD21,000 for ultras for a petcoke trip to the Continent, showing an increase compared with last week. There was another Handy 36,000-dwt fixed on a grains cargo on voyage basis to two ports in Italy, which gave an equivalent of USD9,000 aps/dop on TCE.
Rates in ECSA were positive with signs of improvement since the previous week on both Handies and bigger units. On Handies, a transatlantic ECSA/Morocco trip was reported fixed on a 38,000-dwt vessel at USD20,000 per day. Supramax rates for transatlantic trips from West Africa via ECSA to Continent/Med were around the USD16,500 per day level, while fronthaul rates from West Africa via ECSA to China were around the USD21,000 per day level. Ultramax rates for transatlantic trips from West Africa via ECSA to Continent/Med were around the USD17,250 per day level, while fronthaul rates from West Africa via ECSA to China were around the USD21,500 per day level.
Far East
Supramax and Ultramax rates held steady despite no details of concluded business, while fresh enquiries in Pacific Australia provided support. Handysizes finished the week trending upwards despite fixtures having been slow to be reported, as tighter tonnage for April dates in the Pacific left a positive sentiment.
Banchero Costa and Co Spa
E-Posta: research@bancosta.it
Internet: www.bancosta.it
