According to the Shanghai Shipping Exchange's Far East dry bulk market weekly report for October 30 - November 5 (carried by Sina Finance on November 8), rates across all three major segments trended lower this week and the Far East dry bulk hire index fell notably: 2,152.97 points on November 5, down 4.5% from October 29. This matters directly for the ocean cost of steel, construction materials and other bulk cargo moving to Japan around the Pacific.
In the capesize market, Pacific and long-haul iron-ore demand fell in tandem early in the week with ample idle tonnage, pushing rates down; from midweek, rising long-haul cargo volume plus higher FFAs brought a modest rebound. On November 5, capesize TCT earnings on the China-Japan/Pacific round voyage stood at USD 33,529 per day, down 8.0% from the previous period; Dampier (Australia) to Qingdao was USD 13.475/ton (-6.7%) and Tubarao (Brazil) to Qingdao USD 36.756/ton (+3.5%). On November 6, the FDI (Far East Dry Index) put the China-Japan/Pacific round voyage for a 180,000 DWT vessel at USD 33,837/day (+308).
Panamax and Supramax softened in step: Panamax TCT on the China-Japan/Pacific round voyage was USD 19,188/day on November 5, down 2.9%; Supramax on the Southern China/Indonesia round voyage was USD 14,801/day, down 2.1%. Coal volumes held up but grain enquiry was thin, tonnage supply was ample, and falling bunker prices added pressure. For charterers, negotiating room on both time and voyage charters is widening.
From a Japan-export perspective, the China-Japan/Pacific round trip is a common structure for capesizes and Panamaxes in the Pacific, so lower daily earnings directly ease voyage-freight negotiations. Steel, machinery and construction-material shipments to Japan can use this pullback to negotiate and fix vessels — but mid-to-late November is the last concentrated shipping period before year-end, and good tonnage and good rates rarely coincide. Compare rates week by week, confirm stowage plans early, and note that lower bunker prices feed into BAF surcharges only with a lag.
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