MID-SHIP Petcoke Report – Mar 24, 2025

March 24, 2025

Market overview:  

The U.S. Trade Representative hearing, held Monday and Wednesday this week, is currently overshadowing market news. Due to limited business activity on U.S. trades, market participants are negotiating potential fees for charterers’ accounts, premium fixed rates, or cancellation clauses. It is estimated that the proposed fees could affect up to 75% of U.S. port calls in recent years, impacting forward pricing discussions for ocean freight. Our broker team is available to provide guidance on forward freight programs.

Despite the hearing, the market remains active across all segments and regions, with trading confined to a narrow range last week. Capes experienced a softer progression, Panamax and Supras showed mixed results, while Handies saw a moderate increase.

U.S. Trade is an exception, with significant volatility depending on the position and uncertainty surrounding the ongoing hearing complicating matters.

The market is anticipating the results of the Chinese government’s recent initiative to restore profitability to Chinese Steel Mills by compensating entities that close older blast furnaces to reduce production capacity.

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