Weekly detailed analysis of world shipping freight markets for all major routes for May 5 - May 12, 2025.
Capesize (Atlantic and Pacific)
Capesize Market had a very relaxed tone last week with particularly in Far East with the absence of major Miners in Australia and the holiday in Singapore today has contributed to this slow activity. In the Atlantic it was calm as well with most operators waited to see whats happening but broker suggesting the list on capesize ballasters from Far East to Atlantic may put the rates of C3 under pressure. It was reported Oldendorff having fixed the n/v Chinafrie Happiness 174/05 for a Tubarao/Qingdao 01/05 June at low usd 18's and also Golden Ocean Tbn fixed 170.000/10 Ore Saldanha Bay / Qingdao 31 May/04 Jun at usd 13.28.
Panamax (Atlantic and Pacific)
The Panamax market opened steady, but with limited activity. The BPI TC average initially settled at $12,250/d and around there remained the whole week. Atlantic routes P1 and P2 managed to maintain a positive trend, while ECSAm and NCSAm routes showed signs of softening. A brand new 82,000 dwt vessel was fixed aps ECSAm 11/14 May for a TCT with redelivery Spore/Japan at $16,500/d + $650,000 GBB. An 82,000 dwt scrubber-fitted vessel built in 2014, open Safi 12/13 May was fixed for a TCT via NCSAm with redelivery Spore/Japan in the low $20,000s/d, scrubber benefit to Owners. A standard Kamsarmax was fixed aps NCSAm at $23,000/d with redelivery Skaw-Gibraltar. Despite an increase in grain cargoes, S America remained under pressure due to the exceptionally high volume of available tonnage.
Last week has started slowly with and increase on fixtures reported by friday. Money wise market has keep decreasing following the path of the week prior. In indonesia not many fixtures were reported, a vintage pmx opening in hk was fxd at usd 7,500 fr a trip via indonesia and redely china. A 2023 blt kmx opening masinloc was fxd at usd11,750 with redely philipines fr a trip via indonesia. Aussie may be the only one that has seen a small increase than antecedent week, in fact a 16blt kmx opening dalian was fxd fr a trip to India via Aussie at usd10500 and a postie 2011 bolt was open in Taichung was fxd dr a trip to Malay via Aussie at usd 10k. In nopac a Panamax 2013 blt was opening dongjiakou fxd at usd 8000 fr a trip via nopac re del s/j. A 81k dwt 2017 blt opening in toyohashi was fxd at 13750 fr a trip to S/j rge via nopac.
Handy (Far East/Pacific)
Positional market for Ultra/Supra with holidays at the beginning of the week. In Asia demand again remained weak and most areas lost ground. A 63kdwt fxd del Thailand to Indonesia with sugar at $13,000. A 63k-dwt fxd del CJK via Australia to Arabian Gulf at $14,000. Limited Period activity. Handysize market overall sentiment remaining flat. Also the Asian zone remained flat, with no significant changes in cargo volumes and rates. A 40k-dwt fxd del Hong Kong to Colombia with steels at $12,000.
Handy (North Europe/Black Sea/Mediterranean)
Not much activity reported in the area. Rates remained stable both on small and bigger sizes. On Handies a non eco 56,000 dwt open N Spain was rumoured at $10,000/d for a trip to NCSAm. TA trips to US EC were in line with the levels of the previous week; an Handy open Denmark via ARAG was reported at $11,000/d and another one open UK at $11,500/d. Trips to ECSAm were estimated in the $6/7,000/d. Supramax and Ultramax tonnage was estimated in the $11/12,000/d for fronthaul, unchanged with the previous week, while TAs were estimated in the $9/10,000/d. An Ultramax was heard from Latvia to Turkey around $13,000/d.
The market in Mediterranean and Black Sea area remained slow with rates decreasing, modestly, on all routes. The forward cargoes for July mostly being fixed with a premium around $2,000/d, but June levels seemed to remain the same as the spot, or almost. Handies were fixing around $5,500/6,000/d level CrossMed, same as for the trip to Continent. The trip to ECSAm was paying $6,000/d from Med, while the trip to USG was around $8,500/d level. Supramaxes CrossMed were fixing around $7,000/d. TA to USG decreased to $8,500/8,000 on Ultramaxes and to $7,500/d on Supramaxes. The route to Far East decreased to $11,500/12,000/d on Ultramaxes and $10,500/11,000/d for Supramaxes. Not a big loss, but significant.
Handy (USA/N.Atlantic/Lakes/S.America)
The market in Us Gulf saw a big improvement since last week and rates were on the uptrend with fresh stems available during the whole week and a reduced tonnage in the area. TransAtlantic trades to Med were rated in the mid teens levels, a trip to Egypt with grains was fxd at $15,500/d on Ultramax while a trip with Coal was fxd at $16,000/d on a same size vessel. On TransAtlantic a trip to Ecsam with petcoke was covered on Ultramax at $10,500/d and a trip to Wcsa was fixed on a Supramax at $11,750/d. On FrontHaul the petcoke trade to India was very active and was evaluated at $18,000/d on a Ultramax. On Handies a trip to Wcca with grains was done at $11,000/d on a 39,000 dwt while pellets to Uk - Cont were covered on a 34,000 dwt at $8,000/d.
The week began with fresh demand entering the market: rates were firming up. By the end of the week, however, the tonnage count had outweighed demand and rates were trending sideways. On Handysize, several fixtures were reported. The ECSAm-Med route was the strongest. Handies around 30,000 dwt were fixed just below $15,000/d for trips to W Med. The highest level swere reached on the E Med route with several trips fixed in the $17,000s/d and a 38,800 dwt reaching $18,000/d for a trip with dely Santos, via UpRiver, to E Med. The route to Cont traded at lower levels: an vintage 32,000 dwt was fixed at $12,000/d, dely N Brazil for a trip to Norway. Similar levels were seen for W Africa: a 28,000 dwt fixed at $12,000/d with dely Santos. On ECSAm-F East, a very modern 39,700 dwt was fixed with dely Santos, redely Spore/Japan at $14,000. Less activity was reported on larger sizes. A modern 63,000 dwt, blt 2023, fixed a trip to Med dely Brazil at $20,000/d; while a 66,585 dwt, built 2015, fixed a trip with dely S Brazil, redely China at $14,250/d + $425,000 gbb. Overall, the routes from ECSAm to Cont/Med and N China traded stably throughout the week, at $13,000/d and $14,500/d respectively.
Banchero Costa and Co Spa
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