MID-SHIP Fertilizer – October 8, 2026

October 8, 2026

General Market Overview: 

Dry bulk markets are showing a more balanced tone at midweek, with the recent downward pressure beginning to ease across several segments. Capesize earnings remain under pressure at $41,691/day, although the pace of decline has slowed as increased Pacific activity provided some support. The Atlantic remains the weaker side of the market, with ample tonnage continuing to weigh on owners’ ideas. Panamax sentiment, however, has improved, with average earnings rising to $21,456/day as activity increased across both basins. Fresh trans-Atlantic demand is beginning to absorb some of the available tonnage in the North Atlantic, while EC South America has also become more active. In the Pacific, owners are maintaining relatively firm ideas for Australia and North Pacific business, suggesting the market is finding some support despite the ongoing Asian holidays.

The smaller sizes are similarly mixed but generally holding firm. Supramax earnings increased to $22,758/day, supported by strong Continent scrap demand, improving US Gulf sentiment and continued strength in the North Pacific. Notably, Asian activity has been more resilient than expected during Golden Week, with both backhaul and Southeast Asian demand showing signs of improvement. Handysize remains the softer exception, with average earnings easing slightly to $18,056/day amid limited activity, although the Continent, Mediterranean and South Atlantic remain well supported. Overall, the market appears to be stabilizing rather than moving decisively lower, with improving cargo replenishment in several regions beginning to offset available tonnage. The next test will be whether this momentum continues as Asian participants return fully from the holiday period.

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