MID-SHIP Alumina/Bauxite – June 24, 2026

June 24, 2026

Market Overview: 

The dry bulk market remains mixed, with Handysize and Supramax sectors showing signs of consolidation after a strong run. Handysize activity was generally quiet, although underlying sentiment remains steady. The Continent and Mediterranean continued to benefit from scrap demand, helping support rates, while the Atlantic held largely stable despite a slower flow of fresh business. In the Pacific, limited enquiry and unchanged fundamentals kept the market largely stagnant. Supramax and Ultramax indices softened further, with the 11TC slipping as Asian markets began to lose momentum after trading sideways last week. Despite the weaker index performance, underlying market conditions remain constructive, particularly in the Atlantic, where transatlantic and fronthaul business continues to generate attractive returns. Fixtures for wood pellets, coal, and minor bulks continue to support earnings, and overall sentiment remains positive even as the market pauses to digest recent gains.

Panamax sentiment improved for the first time this week, with rates strengthening across both the Atlantic and Pacific basins. Tightening prompt tonnage in the North Continent, a growing Atlantic cargo book, and steady grain demand from East Coast South America have encouraged charterers to bid more aggressively for nearby vessels. Owners are also showing greater resistance to lower rate ideas, particularly as forward demand remains healthy and Pacific activity appears to be stabilizing. While vessel supply remains ample in some regions, there is increasing confidence that the market may have established a near-term floor. In contrast, the Capesize sector came under renewed pressure as an expanding ballaster list and softer sentiment outweighed otherwise healthy cargo volumes. Although iron ore demand and miner activity remain present, charterers have regained negotiating leverage, resulting in lower fixture levels across both the Atlantic and Pacific and continued downward pressure on earnings.

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