Weekly Cape Traffic Tracker – Week 8
Singapore tonnage eases but remains well above last year’s levels
Capesize tonnage passing through Singapore recorded 15.0 million DWT last week, down 1.7 million DWT from the previous week, though still sitting above the year-to-date average. The pullback was driven by declines across both Standard Capesize/Newcastlemax vessels and dedicated tonnage/VLOCs, with the larger drop seen in Capesize volumes. Looking ahead, tonnage supply through Singapore is expected to ease further. Standard Capesize/Newcastlemax flows are likely to see a more pronounced decline, offsetting a smaller increase in dedicated VLOC traffic.
From a broader perspective, the 3-week rolling average is currently tracking 31% higher year-on-year. Dedicated VLOCs are up 16% YoY, while Standard Capesize/Newcastlemax volumes are up 37% YoY, underscoring the structurally firmer backdrop compared to last year.
Australian Iron Ore Exports Rebound Sharply on Strong Pilbara Loadings
Dampier and BHP drive recovery toward upper seasonal range
Australian iron ore exports jumped 21.1% WoW to 20.9 million DWT last week, driven primarily by stronger shipments out of Dampier and Port Hedland – BHP. The rebound follows several softer weeks, with throughput now moving toward the upper end of the 4-year seasonal band.
The lift occurred despite ongoing maintenance at Port Hedland, Port Walcott, and Geraldton, while weather disruptions were mixed across the region.
Looking ahead, maintenance is scheduled at Port Walcott. With volumes recovering into the historical range and a seasonal end-of-quarter push from the miners, throughput could remain supported in the near term.
Australian Coal Exports Edge Higher, but Volumes Remain Subdued
Steam coal firms at Newcastle; coking softness persists
Australian coal exports rose 6.3% WoW to 5.8 million DWT last week, as firmer steam coal shipments more than offset a dip in coking coal volumes. The uplift in steam coal was largely driven by stronger loadings out of Newcastle, while weaker coking coal exports from Dalrymple Bay capped the overall recovery.
The gain came amid maintenance at Newcastle and persistent wet weather across key loading regions.
Looking ahead, maintenance is scheduled at Abbot Point and Newcastle, while showery conditions are expected to linger along the Queensland coast. Rainfall could intensify toward the weekend, with forecasts pointing to around 30mm in some areas.
Brazil Iron Ore Rebounds as March Rollover Builds
Vale and juniors lift volumes; rollover nearly doubles
Brazilian iron ore exports rose 17% WoW to 7.6 million DWT last week, as both Vale and the junior miners recorded stronger shipments. Vale exports climbed 20% WoW to 5.3 million DWT, with higher volumes from GIT and Tubar?o more than offsetting softer flows from PDM and CPBS. Junior miner exports rose 11% WoW to 2.3 million DWT, supported by gains at Ponta Ubu, Sudeste, and CSN, which outweighed the dip from Minas Rio.
Month-to-date, February 2026 exports are tracking ahead of both January and February 2025 levels. Vale is running stronger MoM and YoY, while junior miner volumes are improving month-on-month but remain slightly behind last year’s pace.
Rollover into March is projected at 13–14 million DWT — nearly double the 7.2 million DWT seen in the January–February transition.