MID-SHIP Petcoke Report – June 18, 2026

June 18, 2026

Market overview:  

The Handysize and Supramax/Ultramax markets continue to show resilience, with Atlantic basin activity providing the primary source of support. For Handysize, fresh inquiry and tightening vessel availability in both the U.S. Gulf and East Coast South America pushed rates modestly higher, while the Baltic Handysize Index gained another 7 points to 917. The Supramax sector remained broadly stable, with the Baltic Supramax Index rising 20 points to 1,705. Strong grain demand from the U.S. Gulf continues to underpin Atlantic earnings, with Ultramax transatlantic and fronthaul business regularly achieving rates in the low-to-mid $30,000s/day. While Pacific activity was quieter across both segments, owners generally remain disciplined, and vessel availability in key Atlantic loading regions remains relatively balanced.

Panamax sentiment softened slightly during the week, with the Baltic Panamax Index easing 43 points to 2,223 as both Atlantic transatlantic and Pacific trades came under pressure from limited fresh inquiry. Despite today’s correction, underlying fundamentals remain constructive, particularly in the North Atlantic, where prompt tonnage remains tight and continues to support rates. Overall, we view the Panamax market as consolidating after a strong run rather than entering a broader downturn.

For Capesize, rates eased modestly amid weaker Atlantic sentiment, although increased iron ore activity from Western Australia and renewed miner participation provided some encouragement for the Pacific market, with market participants increasingly discussing the potential for a near-term floor to emerge.

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