Weekly Cape Traffic Tracker – 2026 Week 9
Singapore tonnage slips below YTD average as Capesize volumes decline
Capesize tonnage passing through Singapore recorded 13.5 million DWT last week, down 1.6 million DWT from the previous week and slipping below the year-to-date average. The decline was led by lower Standard Capesize/Newcastlemax volumes, which offset a modest increase in dedicated tonnage/VLOC traffic. Looking ahead, tonnage supply through Singapore is expected to ease further in the coming week. A potential decline in dedicated VLOC volumes may outweigh a smaller uptick in Capesize/Newcastlemax supply.
From a broader perspective, the 3-week rolling average is currently tracking 38% higher year-on-year. Dedicated VLOCs are up 59% YoY, while Standard Capesize/Newcastlemax volumes are up 30% YoY, highlighting the still-elevated traffic levels compared to last year.
Australian Iron Ore Exports Hold Steady Despite Weather Disruptions
Pilbara volumes remain resilient amid strong winds
Australian iron ore exports were largely flat last week, edging down just 0.2% WoW to 20.9 million DWT. The marginal dip was mainly due to softer shipments from Dampier and Port Hedland – FMG, partially offset by steadier flows from other Pilbara ports. Maintenance at Port Walcott remained in place, though weather was the more notable variable, with Port Hedland recording extremely strong winds of up to 140 km/h last Friday.
Looking ahead, maintenance is scheduled at both Port Hedland and Port Walcott. The Pilbara region may see light showers in the second half of the week, though conditions are not expected to materially disrupt loading operations.
Australian Coal Exports Rebound Amid Wet Conditions Along the East Coast
Abbot Point and Hay Point drive gains despite persistent rainfall
Australian coal exports rose 8.1% WoW to 7.4 million DWT last week, with gains across both steam and coking coal. Steam coal volumes were lifted primarily by stronger shipments out of Abbot Point, while coking coal exports improved on firmer loadings from Hay Point. The increase came despite maintenance at Abbot Point and Newcastle, suggesting underlying loading momentum remained intact even amid persistent rainfall across Queensland.
Looking ahead, maintenance will continue at Newcastle, while weather risks appear to be building. Showers are forecast along much of the Queensland coast from Tuesday onward, with rainfall intensity potentially picking up from Friday amid a possible cyclone threat.
Vale Lifts Brazil Iron Ore as April Rollover Builds
Stronger Vale shipments offset junior miner pullback
Brazilian iron ore exports edged higher last week, rising 4% WoW to 7.9 million DWT. The improvement was driven by stronger Vale shipments, which more than offset a pullback from the junior miners. The weekly run rate climbed to 1.13 MDwt/day, firmer than the previous week and above February 2025’s pace.
Vale exports rose 17% WoW to 6.2 million DWT, supported by stronger loadings from PDM and Tubar?o, though CPBS once again recorded no shipments during the week. In contrast, junior miner exports fell 24% WoW to 1.7 million DWT, with weaker flows from Minas Rio, Ponta Ubu, and CSN outweighing gains from Sudeste.
February closed at approximately 27.1 Mt, up 4% MoM and 9% YoY. Vale led the gains (+7% MoM, +18% YoY), while junior miner volumes slipped slightly MoM and YoY. Looking ahead, with 41.9 million DWT of vessel supply off Brazil and much of March still ahead, rollover into April is projected at 10–11 million DWT, notably higher than the 7.9 million carried from February into March.