Small Handy
The small/mini-bulk market remained generally stable but showed a slight softening trend. Fertiliser cargoes from North Asia to Southeast Asia continued to hold relatively firm at mid/high $20s to low $30s pmt, supported by steady demand. However, backhaul routes such as Vietnam to North China faced downward pressure, with rates around low-teens due to ample tonnage availability.
Scrap demand into Bangladesh provided some support at around low $30s pmt, although competition among owners remained strong. Overall, the market appeared balanced with a mild downside bias, as steady cargo flow was offset by sufficient vessel supply, particularly on repositioning trades.
Handysize
The Handysize market closed the week on a firmer note, despite limited fresh fixing activity. In the Continent–Mediterranean, sentiment improved with a pickup in enquiries, although supply and demand remained relatively balanced.
The US Gulf and South Atlantic showed signs of strengthening fundamentals, though concluded fixtures were still limited. Meanwhile, Asia continued to tighten slightly on prompt tonnage, supported by a steady flow of cargo interest.
The 7TC average increased by USD 194 week-on-week to USD 13,337. In Southeast Asia, 28,000 DWT vessels were quoted around USD 8,000 APS, while similar tonnage in the Far East achieved approximately USD 10,000 APS.
Supramax
The Supramax/Ultramax market showed positive momentum across both basins, although improvements remained uneven.
In the Atlantic, the market stayed relatively stable with fresh cargo from South America and West Africa. An Ultramax open in Houston was discussed at around USD 23,000 per day for a grain trip to West Africa, while a 58,000 DWT vessel open North Brazil was reportedly fixed at USD 15,500 plus USD 200,000 ballast bonus for a trip to China.
In the Pacific, sentiment improved slightly, particularly in the NOPAC region where tight tonnage supported rates in the high-teens. Fixtures included a 56,000 DWT vessel at Morowali fixing around USD 14,500 per day to CJK, while a 63,000 DWT vessel open Gresik was holding near USD 17,500 per day. Australian activity remained supportive, with rates approaching USD 19,000 per day.
In the Indian Ocean, geopolitical tensions continued to disrupt operations, with several vessels delayed due to uncertainty over Hormuz passage. A 53,000 DWT vessel was heard fixed around USD 20,000 per day for a Fujairah–India trip, while strong demand from South Africa supported fixtures at around USD 20,500 plus ballast bonus. Overall sentiment remained cautiously positive amid geopolitical risks and elevated bunker prices.
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