MID-SHIP Alumina/Bauxite – October 29, 2026

October 29, 2026

General Market Commentary:

Handysize: Market conditions remain generally steady, with the 7TC average easing marginally by $30 to $18,274. The US Gulf continues to show signs of softening, while East Coast South America remains firm despite activity beginning to level off following its recent strength. Elsewhere, the Atlantic and Southeast Asia appear relatively balanced, with modest improvements in the North Pacific.

Supramax/Ultramax: Sentiment remains mixed, with the 11TC average declining $92 to $23,641. US Gulf rates continue to face downward pressure as fresh cargo enquiry remains insufficient to absorb available tonnage, while the South Atlantic has also softened amid competition from Panamax vessels on certain cargoes. Asian markets remain comparatively resilient, with rates holding steady despite limited activity and period interest providing some underlying support.

Panamax: The market continues to face broader downward pressure, particularly in the Atlantic, where limited trans-Atlantic demand and persistent tonnage availability have weighed on rates. East Coast South America fronthaul activity has shown some improvement, although the continued arrival of ballasting vessels from the Indian Ocean limits upside potential. Pacific conditions have also weakened, with charterers maintaining a cautious approach, reduced East Australian demand and North Pacific grain cargoes attracting discounted levels. The P5TC declined $397 to $17,289, reflecting the softer overall sentiment.

Capesize: In contrast, both basins continue to strengthen, with the 5TC average rising $1,850 to $37,095, supported by active Atlantic demand and tightening vessel availability.

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