Dry bulk markets delivered mixed results during the week of 18-22 August, with Capesize earnings declining sharply while stronger Atlantic activity supported the smaller vessel segments, the Baltic Exchange reported.

The Capesize market experienced a weaker week overall. The Baltic Capesize Index five-route time charter average, or BCI 5TC, lost more than $4,000 before ending at $23,160. A $742 increase in the final session provided a modest improvement at the close.

Pacific conditions were under pressure from the beginning of the week as inconsistent miner participation weighed on sentiment. C5 rates fell below $9.00 by midweek, although the return of two miners and a fixture at $9.50 helped the market finish on a firmer note.

On routes from South Brazil and West Africa to China, reduced cargo volumes for the first half of September and a growing list of ballasting vessels maintained downward pressure. However, bids of about $23.50 for late-September C3 business offered a more positive signal. The North Atlantic remained comparatively tight, with occasional fronthaul and transatlantic activity, although concluded fixtures were generally below index levels.

Panamax activity was again concentrated in the Atlantic. Limited early tonnage in northern areas combined with firm fronthaul and transatlantic demand to lift rates. A super-specification 87,000-dwt vessel was reported at $30,000 for a voyage from the US East Coast to India with delivery on the Continent. A North Atlantic transatlantic fixture was also discussed at close to a $17,000 time charter equivalent.

The Pacific Panamax market was less well supported, as vessel availability increasingly exceeded demand from the North Pacific and Australia. Indonesian demand remained steady, keeping rates near $14,000 for index-type tonnage. Period activity included an 82,000-dwt vessel delivered in Korea and reportedly fixed for nine to 11 months at $15,250.

Ultramax and Supramax vessels recorded a solid week. US Gulf demand for transatlantic voyages remained active, with an Ultramax reportedly fixed at around $30,000. Cargo availability also improved from the Continent and West Mediterranean, while the South Atlantic was relatively stable with positive sentiment.

Asian demand supported owners’ expectations. Reported fixtures included an Ultramax from North China for a North Pacific round voyage at $16,750, a Supramax from North China to West Africa at $16,000, and a 57,000-dwt vessel from Singapore via Indonesia to China at $19,000. Indian Ocean trading was quieter, with a 62,000-dwt vessel fixed from South Africa to China at $17,000 plus a $170,000 ballast bonus.

Handysize conditions were generally positive, particularly in the Atlantic. Increased enquiry in both northern and southern markets supported fixtures including a 43,000-dwt vessel from Recalada to Bejaia at $21,000 and a 39,000-dwt vessel from Fazendinha to Morocco at $22,000. The Continent-Mediterranean market also maintained its upward trend.

Asia remained balanced as demand kept pace with vessel supply. Period activity was limited, although a newbuild 39,000-dwt vessel was reported fixed for two years at 121% of the Baltic Handysize Index, with delivery in October.