The market for dry bulk shipping's smaller assets is keeping an even keel, while the capesize sector continues its steady decline from highs not seen in decades.
The panamax 5TC, a spot-rate average weighted across five key routes, picked up $234 per day to reach $36,818 per day on Monday, improving slowly from $34,893 per day a week ago.
Shoei Kisen fixed its 84,914-dwt Jal Kamadhenu (built 2020) to an unrevealed charterer at $42,500 per day for a voyage next week from Vietnam to India via east-coast Australia.
"Asia was reported to be active in terms of fresh demand particularly in the North, yet this had yet to be translated into fixtures with a typical wide bid/offer spread to start the week," the Baltic Exchange wrote in its daily report.
The supramax 10TC gained $214 per day to $39,547 per day as the H7TC edged up to $35 per day to $36,407 per day, according to Baltic Exchange data.
Two owners got unrevealed charterers to employ ultramaxes on spot voyages at higher rates starting next week, the winner being Shih Wei Navigation.
The owner fixed the 60,200-dwt Genius SW (built 2015) at $49,000 per day for a trip from Indonesia to China.
Star Bulk Carriers chartered its 61,491-dwt Star Wave (built 2017) at $40,000 per day for a prompt trip from the Philippines to Japan via Indonesia.
Tosco Keymax got $40,000 per day for its 52,292-dwt panamax Pacific Tamarita (built 2001) for a prompt trip from Singapore to China via Indonesia.
The capesize 5TC, meanwhile, slid 5.3% on Monday to $61,026 per day to extend a sharp plummet from $86,953 per day on 7 October.
Six capesizes were fixed on spot voyages, including Pan Ocean's 175,000-dwt Pan Freedom (built 2012) to Vale to carry coal at $39.95 per tonne from Brazil to China.
Vale signed a deal on 14 October to start employing the ship in late November.
The average spot rate for the Brazil-China roundtrip voyage lost $3,321 per day on Monday to come in at $49,148 per day.
