Weekly detailed analysis of world shipping freight markets for all major routes for June 30- July 7, 2025.
Capesize (Atlantic and Pacific)
Very quiet market last week! Capesize TC Average decreased day after day to $15,382/d which represents a loss of $2,128/d during the week. The only route that recorded gains was C5 where although activity was almost nothing, bids were ranging between $7.30/7.70/mt resulting in a W-o-W gain of $0.055/mt. In the Atlantic a Tbn was fixed for 185,000/10 iron ore from Tubarao to Qingdao 21/30 July at $19.50/mt and another Tbn fixing 150,000/10 iron ore Port Cartier to Qingdao 19/28 July at $29.90/mt.
Panamax (Atlantic and Pacific)
The Atlantic market closed on a positive note with rates slightly increasing. Activity was strong and demand and supply were balanced. S America recorded a considerable number of fixtures, both eastbound and westbound directions. Despite the volume of fixtures, there were still significant gaps between owners' and charterers' ideas, but overall market sentiment was positive. In the NCSAm, rates to F East were around $20,000/d basis BKI vessels. A 2024 built Kamsarmax open Reydarfjordur on 27 June was fixed via NCSAm, redely Spore/Japan, at $21,250/day. TA routes were fixed around $14,000/d. A 2012 Panamax open La Coruna 1 July was fixed via NCSAm, redely Skaw/Gib at $12,500/d with a major grain house. From ECSAm rates were ranging between $13/14,000/d. An eco Kamsarmax was fixed passing Spore on 4 July, redely Spore/Jpn at $14,000/day and an eco 81,000 dwt was fixed basis dely retro Colombo on 19 June for a TCT, redely Spore/Japan at $13,500/d.
The Panamax market in the Pacific remained soft yet stable today, with the P3 index showing a modest uptick of USD 75, which is to be viewed as flat rather than a sign of inflation. Reported Fixtures – Inter-Pacific Dedalos (93,038 dwt, 2010) Bahudopi ppt, tct via Indonesia redel Vietnam – $13,000 fxd/failed with Tongli, and refixed tct via Indonesia redel S. Korea – $13,500 to Panocean Zhen Ning (79,463 dwt, 2012) Davao 15/16 Jul, tct via Indonesia redel Philippines – $13,250 to Oldendorff Guo Yuan 8 (75,971 dwt, 2011) Hong Kong 9 Jul, tct via Indonesia redel S. China – $12,000 to Opal W-Mayfair (93,260 dwt, 2010) Taichung 7 Jul, tct via EC Australia redel Spore-Japan – $11,000 to Tongli Dedalos (repeat fixture) via Indonesia redel Vietnam – $13,000 to Tongli NoPac Market The NoPac market remains firm and stable, with no significant fluctuations reported. Fyla (84,104 dwt, 2013) Kunsan 8/12 Jul, tct via NoPac redel Vietnam – $12,000 to Oldendorff Indonesia–India Route The market ex-Indonesia continues to hold firm, supported by strong vessel demand in ECSA, which is keeping pressure on tonnage availability in the South Pacific. Krousson (81,316 dwt, 2011) Psg Taiwan 6 Jul, tct via Indonesia redel India – $12,250 to CNR
Handy (North Europe/Black Sea/Mediterranean)
A quiet week in the area. USG levels attracted ballastersfrom Cont. On Handies, a modern 38,000 dwt was fixed on voyage basis with a TCE around $10,500/d CrossCont. On Fronthaul, Handies were estimated in the $12,000/d, levels similar to Supramax and Ultramax tonnage. A 39,000 dwt was fixed basis dely UK for a trip with scrap to E Med at $9,000/d while TAs were estimated in the $8,000s/d. Trips to W Africa were paying premiums, somewhere in the very low $10,000s/d. On period a non-eco Korean built 37,000 dwt open Dunkirk was fixed for 3/5 months redely Atlantic at $10,500/d. Forward market recorded few grain enquiries with August, September and October dates, but it seemed very difficult for tradersto finalize. On Supramax and Ultramax TA rates showed some improvements with the index now approaching $10,000/d.
Rates recorded a general increase. Supramax pushed up a bit and Handies followed. If not on spot dates, vessels were trying to get numbers close to the 5 digits, even if few were getting those level we can say there is a certain optimism towardsthe end of July. Nicer Handysize vessels for CrossMed or trips to Cont were asking $10/11,000/d basis Canakkale, with charterers countering $7,500/8,000/d level. Trips to ECSAm and to USG did not register notable improvements, USG around $9,000/d and ECSAm $5,500/6,000/d. Supramax tonnage CrossMed was around $9/10,000/d and $9/9,500/d to USG while Ultramax were fixing a tick over $10,000/d. Fronthaul improved to $13/13,500/d on Ultramax tonnage and $12,000/d on Supramax.
Handy (USA/N.Atlantic/Lakes/S.America)
Rates were on a constant uptrend. On Handies, there were rumors that a very nice and shallow draft 38,000 dwt was fixed at $14,000/d basis dely dop Cinfuegos for trip via USG to Morocco with petcoke. On larger sizes, a 58,000 dwt was discussed at $20,000/d aps for a trip to Spore/Jpn range, intention China. On TA, a nice 63,000 dwt was pushing around $24/25,000/d aps for a trip to Turkey with petcoke on tight dates.
Handies rates remained stable on TA routes, Cont destinations were fixed around $17,500/d. Supramax rates were a little lower than the previous week on TA from W Africa via ECSAm to Cont, around $14,000/d, while on fronthaul from W Africa via ECSAm to China were around $16,000/d level. On Ultramax rates from W Africa via ECSAm to Cont were around $14,500/d, while on fronthaul from W Africa via ECSAm to China were around $16,500/d level.
Banchero Costa and Co Spa
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