Capesize

It was a week of mixed route performance in the Capesize market. Following a positive close on Friday, the Capesize Timecharter Average (C5TC 182) ultimately rose by $817 week-on-week. The C3 Brazil to China route edged above $30, a level last seen in July 2024 with the current laycans across both the first and second halves of April. By contrast, the C5 West Australia to China route remained under pressure, sliding from $13.475 on Monday to $11.71 on Friday, a weekly decline of $1.765. In the North Atlantic, market activity strengthened from mid-week onwards as fresh transatlantic and fronthaul cargoes emerged. This improvement was reflected in firmer earnings by the close, with transatlantic rounds at $28,575 and fronthaul trips at $51,111. On the period front, there was talk of a 182,000-dwt delivery China in the first half of April fixing for 3 years at $32,000.

Panamax

The week progressed from early caution to firmer momentum, with bunker price uncertainty still underpinning volatility. Monday saw mixed sentiment, as the Atlantic hinted at a potential floor while Asia softened on weaker volumes. By Tuesday, demand picked up, particularly in the Atlantic, driving rate improvements despite ample tonnage, with Asia also rebounding on stronger regional trades.

Midweek, gains accelerated. Atlantic activity strengthened, supported by mineral and…