Dry Bulk Market: Capesizes End The Week in Recovery Mode in Dry Bulk Market,International Shipping News 30/03/2026 Capesize The market began the week under pressure, with broad-based softening across both basins before staging a measured recovery to finish marginally firmer overall. Early sentiment was undermined by a lack of conviction, most notably in the Pacific, where the absence of key miner activity and disruption risks linked to Cyclone Narelle limited enquiry and led to a gradual build-up of tonnage. This subdued demand set the early tone, while the Atlantic basin, although initially balanced, struggled to generate upward momentum amid patchy activity. As the week progressed, a clearer regional divergence emerged. The Pacific remained relatively subdued, with a gradual return of miner enquiry and C5 hovering in the mid-$10s, before a late-week pickup in cargo flow lifted rates towards the low-$11s. In contrast, the Atlantic provided the primary support, with tightening tonnage and improved cargo visibility, particularly from South Brazil and West Africa to China, driving rates higher. Notably, C3 strengthened into the mid-to-high $30s, while firmer West Africa and fronthaul fixtures underpinned the broader recovery. Panamax The week opened with a softer tone across both basins, as rates in the Atlantic and Asia eased and overall sentiment remained cautious. The Atlantic saw limited movement, with transatlantic and fronthaul activity subdued and a growing stand-off between owners and charterers. As the week progressed, North Atlantic demand weakened further, with some cargoes absorbed internally and ample tonnage limiting rate upside. In Asia, activity remained muted throughout, though the North Pacific provided relative support while Australia and India routes showed only modest improvement. Several fixtures were reported, but details remained scarce. Overall sentiment faded midweek, with limited momentum despite early signs of activity. The P5TC declined steadily over the week, closing at $15,800, reflecting continued downward pressure across key routes. Ultramax/Supramax Another rather subdued week for the sector as prompt tonnage remained readily available in many areas. In the Atlantic, the US Gulf experienced further losses with limited amount of fresh enquiry. A 63,000-dwt was reported fixed on a fronthaul voyage to India with petcoke at $19,000, while for transatlantic runs another 63,000-dwt was heard fixed in the low $16,000s for wood pellets from the US Gulf to the Continent. As the week came to an end, the South Atlantic was said to have found a floor, a 66,000-dwt fixing delivery West Africa via South America redelivery SE Asia at $17,000 plus $500,000 ballast bonus. From Asia, again sentiment remained rather negative. The main demand seemingly coming from the North. A 55,000-dwt open North China fixing via NoPac to South Korea at $14,650. Further south it remained rather positional, a 61,000-dwt open Indonesia fixed a trip to the Philippines at $16,000. Demand remained from the Indian Ocean, certainly for coal. A 56,000-dwt fixing delivery South Africa trip redelivery Pakistan at $19,000 plus $190,000 ballast bonus. Period activity was seen a 63,000-dwt open China fixing 1 year’s trading at $17,250. Handysize The market softened over the week, with sentiment remaining largely negative across both the Atlantic and Pacific basins. In the Atlantic, the Continent and Mediterranean markets remained subdued throughout the