Weekly Cape Traffic Tracker – Week 39
Singapore tonnage remains soft on VLOC slowdown; rebound expected
Capesize tonnage passing through Singapore fell last week, remaining below the year-to-date average. The decline was driven by a drop in dedicated tonnage/VLOCs volumes, which offset a smaller rise in Standard Capesize/Newcastlemax supply.
Looking ahead, tonnage supply through Singapore is expected to increase in the coming week, supported by gains in both Capesize/Newcastlemax and dedicated tonnage/VLOCs traffic.
From a broader perspective, the 3-week rolling average is currently tracking lower year-on-year. Dedicated VLOCs are down while Standard Capesize/Newcastlemax are up year-on-year.
Australian Iron Ore Exports Edge Higher as Hedland Volumes Stabilise
FMG offsets Port Walcott decline as fair weather supports outlook
Australian iron ore exports rose slightly last week as stronger loadings from Port Hedland – FMG helped offset a notable drop from Port Walcott.
The modest gain came during a week of maintenance at Port Hedland, alongside strong winds across the northwest coast in the first half of the week. Looking ahead, no maintenance is scheduled, and the northwest is forecast for fair weather throughout the week—a positive signal for uninterrupted loadings.
Australian Coal Exports Slip as Steam Coal Volumes Weaken
Newcastle and Gladstone lead losses; coking coal steady at Abbot Point
Australian coal exports declined, as a fall in steam coal shipments—led by Newcastle and Gladstone—outweighed a modest rise in coking coal volumes, which were primarily supported by Abbot Point.
The dip occurred alongside maintenance works at Abbot Point, Hay Point, and Newcastle, with weather impacts also adding friction, although export levels were still above the 4-year range. Looking ahead, maintenance is set to continue at Abbot Point, Hay Point, and Newcastle, though weather is expected to stabilise. The northern coast is forecast for fair conditions, while southern regions—including Newcastle—may see isolated showers midweek but generally fair skies otherwise
Brazil Iron Ore: Weekly Pulse
Junior miners offset Vale slowdown to keep exports stable
Brazilian iron ore exports held steady last week, and while Vale’s shipments fell sharply, a strong surge from the junior miners kept overall volumes stable.
Vale’s reduced loadings were driven by lower exports from GIT and PDM, which outweighed the slight recovery at Tubarão and CPBS. Meanwhile, junior miners staged a sharp rebound, with higher volumes reported across all tracked ports.
September export volumes ran below August levels but are broadly in line with the same period last year. Vale trended lower MoM and YoY, while junior miner volumes ran ahead YoY but slower than the previous month.