Baltic Exchange Shipping Insights

CapesizeThe Capesize’s had a slow start due to holidays in Asia, leading to subdued activity. Early in the week, the Pacific was quieter, with limited trading, leading to a slight dip in the C5 index and the BCI 5TC. The South Brazil and West Africa to China markets initially saw positive sentiment with a significant tightening of tonnage in ballast. As the week progressed, there was a decline in activity in the Pacific, particularly due to a shortage of coal cargoes from East Coast Australia. This led to a further drop in the C5 index and a further decline in the BCI 5TC. However, the Atlantic market experienced a rise in cargo demand, and by Wednesday, several tender cargoes emerged, offering some support. A surge of fixtures occurred late in the day, particularly from South Brazil and West Africa to the Far East, leading to a very bullish market on Thursday. This activity caused substantial increases in the BCI 5TC by $2,144 and the C3 index, with the latter soaring by $1.42 to reach $26.55. As the week comes to a close, a notable gap between bids and offers in the Atlantic has resulted in reduced market activity. This imbalance has also adversely affected the Pacific market, leading to a downturn. Consequently, the BCI 5TC has decreased by $227, finishing the week at $24,525.Weiter zum vollständigen Artikel bei Business Times Zum vollständigen Artikel