The Baltic Exchange has issued its report for the last week 2-6 June to provide information of the bulk market performance.
Capesize
The Capesize market enjoyed a strong upward trajectory this week, driven by consistent gains in the Pacific and mounting support in both South Brazil and the North Atlantic. The BCI 5TC rose steadily from $19,071 on Monday to $23,572 by week’s end, reflecting robust demand and tightening tonnage across both basins. In the Pacific, C5 rates climbed from below $9.00 to $10.40-$10.50 levels, underpinned by limited tonnage, strong iron ore demand, and increased activity from miners and operators. The South Brazil and West Africa to China (C3) markets gained traction midweek, supported by Vale’s presence and a tightening list of ballasters, lifting rates from the low $21s to the mid $24s. The North Atlantic, initially quiet, gathered momentum midweek, with firming trans-Atlantic and EC Canada to China fixtures boosting sentiment and rates.
Panamax
The Panamax market wrapped up a notably active week with solid gains, particularly driven by renewed strength in the Atlantic. The North Atlantic led the charge with significant rate improvements, while South America added further support. A tightening tonnage list mid-week helped lift sentiment, with fixtures reflecting the firmer tone: an 82,000-dwt was fixed delivery Gibraltar for a trip via NC South America, redelivery Gibraltar-Barcelona range at $11,000, and another 82,000-dwt fixed delivery EC India for an EC South America fronthaul at $13,000. In Asia, the week was more mixed. The pull from EC South America helped reinforce owners’ sentiment, especially for open tonnage in Southeast Asia. However, rates for longer Pacific rounds—particularly ex-NoPac and Australia—softened into the $8,000s before showing signs of recovery toward the week’s end. Period activity remained subdued, though there was a notable report of a newbuilding 82,000-dwt delivery ex-yard China fixing basis one year at $13,000.
Ultramax/Supramax
It was another challenging week for the sector, with rates in both the Atlantic and Pacific regions under continued downward pressure. In the Continent and Mediterranean, sentiment remained largely positional. Fixtures indicated that rates were hovering near last done levels. A 57,000 fixed for a delivery Bremen via Kotka to redelivery Indica via COGH at $13,000. In the South Atlantic and US Gulf, fundamentals remained weak, with an oversupply of tonnage continuing to outpace demand. A 64,000-dwt fixed delivery Montevideo around 11/15 June for a trip to redelivery Altamira at $17,500. The Asian market also experienced a sluggish week, with activity reduced due to regional holidays and subdued sentiment. A 53,000-dwt fixed delivery Kandla for a trip to redelivery Vietnam with salt at $6,500.
Handysize
This week, the market delivered a mixed performance across the regions, with overall sentiment remaining flat. In the Continent and Mediterranean, market fundamentals stayed soft, with limited visible activity. A 37,000-dwt fixed delivery Skaw for trip to redelivery Portugal with grains at $9,500. The South Atlantic and US Gulf markets maintained a steady pace, supported by stable tonnage levels and pockets of fresh demand. A 39,000-dwt fixed delivery Mobile redelivery Reunion with wood pellets at $16,000. In Asia, the market also remained flat. Although the tonnage list gradually increased, modest fresh demand helped hold rates steady. No significant shift in cargo volumes was observed to drive rates higher. A 39,000-dwt fixed delivery Teluk Bayur via Bunbury to redelivery Nantong with grains at $12,000. In the period market; a 39,000-dwt fixed delivery Caribbeans for 5/7 months redelivery Singapore /Japan range at $12,650.
