Weekly Freight Recap: 11/09/25

Weekly Dry Bulk Recap

Dry bulk sentiment remained broadly positive this week, led by further gains in the Panamax sector as tight tonnage and resilient demand supported higher returns across both basins. Supramax rates also advanced, with the Atlantic maintaining firm momentum despite softer undertones in parts of Asia. The Handysize market recorded modest improvements, though performance varied by region, leaving overall sentiment steady with a cautiously constructive bias.

Panamax

Atlantic: The Atlantic Panamax market extended its upward run, supported by constrained tonnage lists and healthy mineral and grain demand from the US East Coast, Colombia, and Baltic regions. ECSA sentiment was steadier, with October requirements providing a floor to values, though some participants sensed a softer undertone on forward dates. Owners maintained a stronger negotiating position, resisting discounts and holding firm on ideas. Overall, sentiment remained bullish, with fundamentals supporting further strength if October cargo flows materialize as expected.

Pacific: In the Pacific, the tone was similarly upbeat as fresh enquiry from North Pacific and Australian load areas combined with consistent Indonesian coal demand to bolster sentiment. Rates improved steadily through the week, with charterers competing to secure prompt cover and owners retaining the upper hand. Southern tonnage remained tight, adding to the upward pressure. Despite some bid resistance, the overall balance favored owners, and sentiment stayed constructive into the close.

The BPI timecharter average advanced by $467 across the week, finishing at $17,778. Period activity also remained supportive, with steady appetite for short- to medium-term cover reflecting confidence in Q4 demand.

Supramax

Atlantic: The Supramax market displayed steady strength across most Atlantic regions. The US Gulf remained firm on consistent cargo flow, with owners achieving improved returns. In the South Atlantic, a tighter tonnage list and healthy enquiry supported firmer sentiment, leaving charterers with fewer options and encouraging higher bids. The Continent–Mediterranean was more balanced, with limited fresh enquiry restraining upward movement, though levels generally held ground.

Pacific: By contrast, the Pacific Supramax market was less decisive. Northern areas showed some stability on periodic bursts of demand, but southern regions were softer, with limited enquiry weighing on sentiment. Owners attempted to resist concessions, yet oversupply in certain load areas capped earnings. The 11TC average posted a modest $59 gain, closing the week at $18,677.

Handysize

Atlantic: The Handysize market held a mixed tone. The Continent and Mediterranean saw only minor upward adjustments, with sentiment steady but lacking fresh impetus. The South Atlantic, however, maintained positive momentum, underpinned by consistent demand and manageable tonnage availability. The US Gulf slowed, with weaker cargo volumes leading to softer returns for prompt positions.

Pacific: In Asia, activity remained thin but sentiment broadly steady. Owners held rates firm despite limited fixing opportunities, with market balance maintained across northern and southern load areas. While not dynamic, the region avoided downward pressure, leaving the segment supported on a cautious footing.

The BHSI gained six points to reach 798, with the 7TC average up $112 at $14,364.