Weekly detailed analysis of world shipping freight markets for all major routes for June 16- June 23, 2025.
Capesize (Atlantic and Pacific)
A very negative week showing daily declines. Pacific was very quiet with very little participation from majors Miners with the result trading within the C5 index remain in the $9.240/mt level. Atlantic was similarly quiet with the exception of Lisco (The Libyan Steel Mills) fixing a 173,949 dwt built 2006 for an iron ore cargo 165,000 mt from Ponta do Ubu to Misurata at $15.95/d with 50,000 shinc load and 12,500 shinc discharge and free disbursement in Misurata. Solebay fixed a 180,200 built 2006 for 170,000/10 iron ore TubaraoQingdao 14/15 July at $22.05/mt. A 180,000/10 Iron Ora from Seven Islands to Rotterdam 10/19 July was fixed at high $9.00s /mt.
Panamax (Atlantic and Pacific)
Trans-Atlantic activity remained sparse, with a noticeable decline in both grain and mineral demand across the basin. In contrast, East Coast South America saw a mixed performance. Although overall activity was limited, P6 index dates remained relatively balanced. First-half July arrival dates started the week on a firm note, seeing an eco 82k dwt built in 2015 fixing retro Vizag 6 Jun tct via ECSA redely Spore/Japan at $14,000/d. But sentiment weakened as increasing tonnage availability outpaced limited demand, putting downward pressure on rates. By midweek, fixtures for index arrival dates typically ranged between $11,500/d and $13,000/d for 82,000- dwt vessels, basis delivery in the India–Southeast Asia region. NCSAm gave also a good support to the Trans-Atlantic rates, an over-age 83k dwt fixed retro Hazira 12 Jun tct via NCSA redely Spore-Japan $13,500/d. Seeing the actual geo-politic situation let's see how mrk ll react next week, but the sentiment should be positive.
An active week in Pacific in particular at the beginning with many fixtures, a slight slowdown was noticed by the end of it. Levels remained stable. At the beginning of the week a 2015 built Panamax opening in Incheon was fxd at $11,000/d for a NoPac RV. An 82,000 dwt built in 2010 that was opening in Bayuquan was reported at $11,000/d for a trip to Philippines via NoPac. A brand new unit open Zhoushan was fixed at $12,500/d for a trip to S China via Aussie. A 95,000 dwt built in 2014, scrubber fitted, open in Kinuura was reported at $12,750/d for a trip to Japan via EC Australia. A 2015 built Kamsarmax open Toledo was fixed for a trip to Japan via Villanueva at $12,000/d. A 2016 unit open in Tanjung was fixed a $17,000/d for a trip via Indonesia and redely Japan. A 2014 built Kamsarmax achieved $11,500/d for a trip via Australia to China. A very modern unit open Yokkaichi was reported fixed at $13,750/d to India via Australia.
Handy (North Europe/Black Sea/Mediterranean)
Mixed sentiment with high levels from USG still tempting owners to ballast there instead of loading from Cont or Baltic. On Handies rates to W Africa increased with owners asking premiums for this redely. An eco 36,000 dwt open Uddevalla prompt was fixed basis dely dop for a tct redely W Africa at $12,000/d. TA trips to USG were now showing slightly discounted rates due to a strong market there with a non eco 32,000 dwt open Brunsbuttel 13/15 Jun fixed with dely Antwerp for a trip to USG at $7,500/d aps. Little activity reported for usual scrap to Med who did not seem to show much changes from last week. On larger units, a 60,000 dwt was fixed with dely aps Sweden for a trip to W Africa at $13,250/d showing premium. Fronthaul and TA remained consistent with rates respectively in the $12/13,000/d for the first one and in the $8/9,000/d for the latter.
Another disappointing: there was a total lack of cargoes for spot dates and continuous requests by traders for August cargoes with freight rates equal to spot if not even less, despite this it remains difficult to develop cargoes. An improvement is expected for July with the wheat harvest. Also the tender to Algeria, held this week, is expected to bring about twenty cargoes ex Black Sea for this destination. Handies were still fixing around $7,000/d CrossMed and to Cont. The trip to ECSAm and to USG were decreasing to $8,000/d to USG and $5,750/d to S America, for nice Handies 35/38.000 dwt. Supramax CrossMed or to Cont were fixing around $7/7,250/d. TA routes to USG were probably lower than Handies. The route to Far East remained flat at $12,000/d for Ultramax and $1,000/ lower for Supramax.
Handy (USA/N.Atlantic/Lakes/S.America)
Market remained firm; Handies around 37,000 dwt ex US EC were fixed at $18,000/d basis dely aps for a trip with coal to Morocco, duration of 25 days wog. On Ultramax the same route was fixed at $20,000/d on a very nice 63,000 dwt, around $16/17,000/d aps on standard Supramax. A61,000 dwt was fixed at $21,000/d aps SW Pass-WCCA with grains. Grains on fronthauls recorded offers at $19,500/d aps while charterers were around $18,000/d towards the weekend.
however larger units were on an uptrend. On Handies, a 28,000 built 2007 fixed dely Recalada redely Cont with grains at $13,000/d and a 33,000 built 2011 fixed a TA dely aps Santos to W Med with sugar at $13,750/d, a coastal trip was fixed at $15,000/d on 35,000 dwt built 2017. Supramax rates increased, a TA from W Africa via ECSAm to Cont were around $12,500/d, while fronthaul rates from W Africa via ECSAm to China were around $14,000/d level. On Ultramax, rates from W Africa via ECSAm to Cont were around $13,000/d level, while on fronthaul with dely W Africa were around $14,500/d level and a 63,000 dwt built 2021 was fixed with grains at $14,000/d + $400,000 bb.
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