MID-SHIP Cement Report – July 8, 2026

July 8, 2026

Market Overview: 

The dry bulk freight market remains constructive overall, although conditions are becoming more segmented across vessel classes. Handysize markets softened further, with limited fresh activity across the Atlantic and Pacific as charterers continued to edge bids lower and owners gradually adjusted expectations. The Supramax/Ultramax sector remains broadly steady, supported by pockets of Atlantic demand, particularly from the U.S. Gulf and East Coast South America, while Asia continues to trade largely sideways with balanced fundamentals. Panamax sentiment remains firm, extending recent gains as healthy mineral and grain demand, coupled with owners’ willingness to ballast toward the Atlantic, continues to underpin rates. Firmer bunker prices are also beginning to feed into higher voyage freight levels, particularly on South Atlantic business.

The Capesize market paused following its recent rally, with some profit-taking and softer sentiment emerging in both the Pacific and South Atlantic despite another active day of cargo fixing. While benchmark earnings eased modestly, North Atlantic activity remained particularly strong, highlighting the continued divergence between regional markets. Overall, longer voyage distances, measured fleet growth, and resilient commodity demand continue to provide an underlying foundation for freight markets even as negotiations become more balanced in certain segments. Meanwhile, renewed tensions surrounding the Strait of Hormuz following the latest U.S.–Iran strikes have reintroduced volatility into crude oil and bunker markets, creating additional voyage cost uncertainty that market participants will continue to monitor closely.

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