Weekly Cape Traffic Tracker – Week 40
Singapore tonnage climbs above average; VLOC gains lead the rise
Capesize tonnage passing through Singapore rose last week, up from the previous week and moving above the year-to-date average. The increase was driven by higher flows from both Standard Capesize/Newcastlemax vessels and dedicated tonnage/VLOCs, with the latter seeing the larger rise. Looking ahead, tonnage supply through Singapore is expected to decrease in the coming week, led by a pullback in dedicated VLOC traffic. From a broader perspective, the 3-week rolling average is currently tracking higher year-on-year, with both vessel classes up YoY.
Australian Iron Ore Exports Fall Amid Broad-Based Port Slowdown
Only Esperance and Geraldton post gains; BHP volumes hold steady
Australian iron ore exports fell last week, as shipments slowed across most tracked ports—with the exception of Esperance and Geraldton, which posted minor gains. Notably, Port Hedland – BHP volumes held steady, despite reports of China’s suspension of BHP iron ore imports. Looking ahead, maintenance is set to continue at Port Hedland, though weather conditions are expected to remain favourable across the Pilbara.
Australian Coal Exports Decline as Volumes Slip Across Key Terminals
Steam coal weakens at Newcastle; coking coal drops at Abbot Point
Australian coal exports fell last week, with both steam and coking coal volumes declining. The drop in coking coal shipments was largely driven by Abbot Point, while steam coal exports weakened out of Newcastle. This pullback came alongside maintenance works at Abbot Point, Hay Point, and Newcastle, though weather was broadly favourable along the Queensland coast. Looking ahead, maintenance will continue across all three terminals, and weather conditions remain relatively supportive. Northern Queensland is expected to stay mostly dry.
Brazil Iron Ore: Weekly Pulse
Exports fall 15% as junior miners slump; October off to stronger start
Brazilian iron ore exports fell 15% last week, as both Vale and the junior miners recorded lower volumes — with the juniors accounting for the bulk of the decline. Vale’s shipments dipped 3%, with reduced volumes from Tubarão, PDM, and CPBS offsetting gains at GIT. Multiple rounds of maintenance were in play: PDM’s smaller berth entered a 5-day repair cycle last Friday, Tubarão’s smaller berths had 6 days of scheduled downtime from midweek, and GIT began 4 days of maintenance on Sunday. Junior miner exports fell 36% WoW, led by declines at Sudeste, Port of Açu, and CSN. Only Ponta Ubu saw gains. Final figures for September show exports down 17% MoM and 4% YoY. October, however, is off to a stronger start, with export volumes tracking ahead of both September and October last year, supported by early-month momentum from both Vale and the juniors. Still, with 41.0 million DWT of vessel supply off Brazil, rollover into November is projected at 7–8 million DWT — on par with the prior month’s carryover.