MID-SHIP Alumina/Bauxite – February 11, 2026

February 11, 2026

Market Overview: 

The dry bulk market continued to diverge across vessel segments, with Atlantic strength offsetting softer Asian conditions. Handysizes saw further gains as the BHSI rose to 657, supported by a firm Atlantic, where tight February tonnage and steady trans Atlantic demand kept sentiment positive. Limited inquiry in the Continent and Mediterranean produced only marginal rate adjustments, though fixtures such as the Uni Blossom from Morocco to ECSA at $6,700 underscored underlying stability. Asia, however, remained subdued amid Japanese holidays and persistent weak sentiment. Supramaxes also posted another positive day, driven primarily by a strong Atlantic — especially the U.S. Gulf and South Atlantic — where owners achieved higher numbers, including the Green Genie and Iseaco Grace securing mid $20,000s for ECSA to Med runs. The Continent-Med remained balanced, while Asian markets stayed soft with growing prompt supply and muted fresh inquiry; Indonesian rounds hovered around $10,000 – $12,500 depending on size and delivery. Panamaxes extended their upward momentum across both basins as sentiment improved and fixing volumes increased. The Atlantic saw steady trans Atlantic demand and consistent ECSA grain flows, tightening nearby supply. Pacific activity remained healthy, supported by strong Indonesian short-haul demand and stable Australian and NoPac programs, with fixtures ranging from low $10,000s on SE Asia coal runs to around $17,000 for EC South America fronthaul back to Asia. Capesizes closed the day firmer in both hemispheres, highlighted by gains in the C5TC to $26,432. Atlantic strength was led by improving fronthaul sentiment and several ballaster fixtures from Brazil and Seven Islands, with Tubarao Qingdao trades in the low-to-mid $22s. The Pacific also improved, with major miners fixing West Australia–Qingdao in the low-to-mid $8s, lifting the C5 index to $8.417. Overall, the larger sizes benefited from tightening supply, while smaller segments remained split between a firm Atlantic and a still soft Asia.

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