MID-SHIP Cement Report – April 1, 2026

April 1, 2026

Market Overview: 

Supramax conditions improved overall, with gains seen across most loading areas and the 11TC average rising to $15,476 as South Atlantic and US Gulf fundamentals remained supportive, while Asian activity stayed steady. The Handysize sector, by contrast, was largely unchanged, with subdued enquiry across the Continent and Mediterranean, softer conditions in the US Gulf, and a more balanced but quiet picture in Asia, leaving the 7TC marginally lower at $12,508.

The Panamax market lost some momentum as participants stepped to the sidelines ahead of the long weekend, though underlying Atlantic fundamentals remained constructive. South Atlantic and trans Atlantic demand continued to absorb tonnage, drawing interest from owners positioned further afield, while limited fresh enquiry from South Asia and the North Pacific capped further upside. Period activity remained firm, with modern tonnage securing mid $19,000s for one year employment, and the 5TC finishing the week higher at $16,053, reinforcing the broadly stable outlook despite mixed Pacific sentiment.

Capesize rates edged modestly higher into the end of the week, supported by a tightening tonnage list in both basins and intermittent miner activity in the Pacific, with the BCI 5TC closing at $27,991 despite quieter pre holiday trading and continued bunker price volatility.

Noteworthy Highlights
• South Atlantic continues to outperform across Panamax and Supramax segments, attracting vessels from further afield
• Atlantic Capesize supply tightening as West Africa–China demand draws vessels north
• Pacific Panamax rates remain under pressure amid limited NoPac enquiry
• Period market remains active, particularly for modern Panamax and Supramax units
• Bunker volatility persists, with Brent rebounding above $105, adding cost uncertainty to Q2 positioning

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