Small Handy
The small-size market remained largely unchanged from last week, with North China continuing to be the most active area. Owners of 12,000 DWT vessels open in North China are currently targeting around USD 9,000 per day. On the Southeast Asia–Far East route, a 15,000 mt parcel of kaolin from Chu Lai to Mid China was reported at mid-teen levels. Similarly, 12,000–16,000 mt MOP cargoes from North Vietnam to North China were fixed around the same range. A 6,000 mt bulk tapioca residue pellet shipment from Thailand to South Korea was reportedly fixed in the low USD 20s pmt. Within Southeast Asia, an 8,500 mt copper concentrate cargo from Port Klang to Fangcheng is being discussed in the low USD 20s pmt range. Meanwhile, a 5,500 mt iron ore fines shipment from Vinh Xuong to Fangcheng is being negotiated in the low teens pmt, although owners are seeking firmer levels around the mid-teens.
Handysize
The Handysize market extended its positive momentum, with the BHSI adding a further 3 points to 847 while the 7TC average gained USD 60 to reach USD 15,254/day. Although the daily increase was modest, it marked the fourth consecutive session of improvement, reinforcing gradually firmer sentiment across the sector.
Market dynamics continued to reflect a divided Atlantic basin, closely mirroring trends seen in the Supramax segment. The U.S. Gulf remained the strongest area, while sentiment in the South Atlantic stayed under pressure and the Continent/Mediterranean markets produced mixed results.
The standout performer was the U.S. Gulf route, which surged by USD 528 to USD 17,571/day, supported by stronger cargo demand and tightening vessel availability. In contrast, the South Atlantic backhaul route declined by a further USD 289/day, highlighting ongoing weakness in East Coast South America. Across the Pacific, sentiment remained constructive, with NOPAC–SE Asia strengthening to USD 17,206/day, while other Pacific routes also posted gains, indicating broad-based regional support.
Looking ahead, the key market theme remains unchanged: firm conditions in the U.S. Gulf, continued softness in the South Atlantic, and steady underlying support across Asia. The China–Korea region is currently seeing healthy cargo enquiry volumes, supporting a firm freight market. Notably, a 28,000 DWT Handysize vessel was recently fixed from the China–Korea area to West Coast India at around USD 17,000/day DOP.
Supramax
The Supramax/Ultramax market maintained positive momentum across both the Atlantic and Pacific basins, although improvements remained uneven between regions.
In the Atlantic, the market stayed relatively stable, supported by fresh cargo demand from the U.S. Gulf and South America. An Ultramax open in Houston was discussed around USD 25,000/day for a grain trip to India, while a 61,000 DWT vessel open North Brazil was reportedly fixed at USD 29,000/day for a trip to Egypt. In addition, a quality Supramax open Dakar was heard fixed with ore to South China at around USD 20,500/day for prompt delivery.
In the Pacific, sentiment improved further, particularly in the NOPAC region where tight tonnage continued to support Ultramax rates around USD 20,000/day. Backhaul steel cargoes from China to the Mediterranean and West Africa also remained firm, with discussions heard in the low USD 20,000s/day range for general cargo. In the southern region, clinker and Australian cargoes continued to provide healthy support. A 62,000 DWT vessel open Iligan was reportedly seeing levels around USD 20,000/day for a trip via Australia to Japan, while a 56,000 DWT vessel was fixed at USD 21,000/day for a clinker shipment from Cam Pha to Chittagong. For Indonesia/China–Southeast Asia trades, the market remained positive. A 56,000 DWT vessel open Hong Kong was fixed around USD 14,500/day to CJK, while a 63,000 DWT vessel open Gresik was holding near USD 19,500/day.
In the Indian Ocean, a 53,000 DWT vessel was heard fixed around USD 13,500/day for a WCI–AG round trip, while strong South African demand continued to support Ultramax fixtures around USD 22,500/day plus a ballast bonus of USD 250,000. Overall sentiment remained cautiously positive despite ongoing geopolitical risks and bunker price volatility.
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