Smallhandy
The small size market exhibited more active over the past week. South East Asia – Far East route is the best active. However, freight and rate competition remained relatively strong, with a noticeable gap between owners’ ideas and charterers’ expectations. Dwt 12,000 – 14,000 is aiming from high teens to USD 20,000 by Owrns but Chtrs just expect low teens. Beside, dwt 16,000 fixed at mid usd 6,000 for bagged rice ex Thailand to Japan, dwt 11,000 fixed at low usd 6,000 for ferrol nickel ex Bahodopi to China. MOP from S.e.a to Fareast is exchanged from high teens while PKE is exchaged usd 20. Fearts in this route showed a mix performance. 11k fert ex Rizhao to Phil chtrs ida is mid 50s while Owrns prefer mid 60s. 6000 ferts Fangcheng to indo, chtrs idea mid usd 30s while Owrns prefer usd 40s. Further more, 10,000 wood pellet ex port kelang to skorea is fixed at low 30s. 6,000 pet in bag ex yangbu to jakarta is fixed at frt low 40s. The market remains relatively active in terms of cargo inquiries, but freight rates have yet to show a broad-based improvement. Owners generally remain firm on their ideas, while charterers continue to seek more competitive levels. For South East Asia area is quite stable. Dwt 6k Owrns gave idea low usd 30s for 5k bagged ferts P.Klang – HCM/Qui Nhon. 7700 mt wbp jakata to hcm is exchanged at frt high usd 20s. 7,100 ferts ex Long An to Philippines is traded at mid usd 30s but Owrns prefer higher. The intra-Southeast Asia market remains relatively stable in terms of cargo demand, although freight negotiations are still competitive. Vessels with suitable positioning and the ability to optimize ballast voyages are likely to enjoy a competitive advantage in securing fixtures. For India route, scrap, rice , alumina is exchanged from high usd 30s to low usd 40s. Cargo opportunities are still available, but successful fixtures will largely depend on vessel positioning, scheduling flexibility and owners’ willingness to negotiate. The period market continued to show a considerable gap between owners’ expectations and charterers’ willingness to pay. Dwt 12,000 expected low 10,000 to fixed but Chtrs just aiming high usd 5,000 to mid usd 6,000 for period 3-6 months. The period market remains relatively weak in terms of hire rates, with bargaining power leaning towards charterers. Owners may need to adopt a more flexible approach regarding hire levels and charter duration to improve their chances of securing employment.
Handysize
For handy segment, the Pacific Handy market remained firm, particularly in Far East, supported by strong Chinese general cargo and Korean steel demand amid limited tonnage availability. Far East – South East Asia rates were discussed around $19,000, with owners targeting up to $21,000. South East Asia remained broadly flat on inter-Pacific, while fresh Australian cargo enquiries supported the Australian market, with 38,000 dwt vessels around $17,000–18,500. The Indian Ocean Handy market showed mixed sentiment. PG–India activity slowed ahead of Diwali, resulting in excess tonnage and prompting owners to ballast toward Southeast Asia. In contrast, South Africa remained firm due to limited prompt tonnage, with China-bound rates reaching around $19,000/day. Elsewhere, activity remained steady but freight rates were largely stagnant, as owners continued seeking alternative employment.
Supramax
SUPRAMAX / ULTRAMAX MARKET REPORT The Pacific remains the main area of activity, with period demand providing a degree of support, particularly for modern tonnage delivered in China. Period fixtures range from USD 21,000 to USD 24,500, while selected spot trips from North and East China have achieved stronger levels. However, the market remains selective, with NOPAC and backhaul activity not yet indicating a broad-based upward trend. Period business in the Pacific includes MV SSI Leviathan (63,500 dwt, 2026), delivered CJK, fixed at USD 24,500 for 4–6 months, and MV Xing Shou Hai (60,492 dwt, 2016), delivered CJK early November, fixed at USD 23,000 for 5–7 months. MV Dolphin (64,000 dwt, 2025) was reportedly fixed for 12 months at USD 21,500, while MV Montrachtet (63,500 dwt, 2026) fixed forward ex-yard Shanghai late November for 14–17 months at USD 21,000. For spot business, MV Knossos (56,763 dwt, 2011) fixed USD 27,000 for a clinker trip from Nantong to Bangladesh. MV Karo T (63,520 dwt, 2023) was reported at USD 30,000 for a trip from Corinto via NOPAC to the Far East, while MV Eva London (63,683 dwt, 2021) fixed USD 24,000 for a trip from Fuzhou via Australia to China. MV Great Progress (63,000 dwt, 2015) clean fixed USD 31,500 DOP Dalian for a backhaul trip to the Mediterranean. The Indian Ocean remains more subdued and uneven. Rates on the Kandla and West India routes are generally softer, with several fixtures reported between the low USD 14,000s and USD 19,000. Longer voyages from East and Southern Africa to India and Pakistan, however, continue to attract additional ballast bonuses, reflecting owners’ efforts to cover longer positioning voyages. MV UM Kure (64,133 dwt, 2025) was reported at USD 19,000 for a clinker trip from Port Qasim to Sri Lanka, while MV Bristol (64,701 dwt, 2024) was reported at USD 16,000 for a salt trip from Kandla to China. MV Levante Spirit (61,323 dwt, 2014) was reported in the low USD 14,000s for a trip from Kandla to South Korea. MV Xin Hai Tong 29 (57,295 dwt, 2011) fixed around USD 24,000 plus USD 240,000 for a trip from Dar es Salaam to Pakistan, while MV VSC Pollux (55,794 dwt, 2014) fixed USD 22,000 plus USD 220,000 for a trip from Cape Town to East Coast India. In the Atlantic, activity remains mixed, with some firm US Gulf fixtures but less impressive levels on other routes. MV Searider (62,690 dwt, 2015) fixed USD 28,000 APS Mobile for a wood pellet trip from SW Pass to UK/Continent. MV Bulk Bolivia (63,465 dwt, 2016) fixed USD 20,500 APS SW Pass for a grain trip to East Coast Mexico, while MV Bulk Spirit (52,950 dwt, 2009) fixed USD 28,000 for a petcoke trip from Port Arthur to Iskenderun.
Overall, the market remains divided by region. Pacific period demand and selected China-related trips are providing better support, while the Indian Ocean continues to face softer conditions, particularly around West India. Atlantic activity varies according to cargo availability, with no clear indication of a broad-based market recovery at this stage.
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