Weekly Cape Traffic Tracker – Week 17
Singapore tonnage softens on weaker Capesize flows, with recovery expected ahead
Capesize tonnage passing through Singapore recorded 11.4 million DWT last week, down 1.1 million DWT from the previous week and below the year-to-date average. The decline was driven 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 increase in the coming week, supported by a broader rise in Capesize traffic.
From a broader perspective, the 3-week rolling average is currently tracking 5% higher year-on-year. Dedicated tonnage/VLOCs are down 15% YoY, while Standard Capesize/Newcastlemax are up 17% YoY.
Australian Iron Ore Exports Ease Slightly on Softer Walcott and Stanley Point Loadings
Minor pullback in Pilbara shipments as maintenance continues but conditions remain favourable
Australian iron ore exports slipped 1.5% WoW to 20.3MDwt last week, with the decline driven by weaker shipments out of Port Hedland – Stanley Point and Port Walcott. The modest dip came amid maintenance at Dampier and Port Walcott, though weather conditions across the Pilbara remained largely favourable.
Looking ahead, maintenance will continue at Port Walcott, while the northwest is expected to see fair weather throughout the week, supporting stable loading conditions. With minimal weather disruptions and a contained maintenance schedule, export volumes are likely to remain steady in the near term.
Australian Coal Exports Rebound as Coking Volumes Lead Gains
Stronger Newcastle and Gladstone loadings lift volumes despite ongoing maintenance
Australian coal exports rose 16.9% WoW to 8.1MDwt last week, with both steam and coking coal shipments increasing, though gains were more pronounced on the coking side. The rise in coking coal exports was driven by stronger loadings out of Newcastle and Gladstone, while steam coal volumes also improved on firmer shipments from Newcastle. The rebound came despite maintenance at Abbot Point and Newcastle, alongside mixed weather conditions across the east coast.
Looking ahead, maintenance will continue at Abbot Point and Newcastle, while weather conditions are expected to remain unsettled. The Queensland coast is forecast for intermittent showers through the week, and Newcastle may see light rainfall from Wednesday onward.
Brazil Iron Ore Rebounds as April Closes Strong
Vale and juniors lift exports, pushing monthly totals above prior periods
Brazilian iron ore exports rebounded strongly last week, rising 20% WoW to 9.3 million DWT, as both Vale and the junior miners recorded higher shipments. The daily run rate improved to 1.33 MDwt/day — the fastest pace in recent weeks and well above April 2025 levels. Vale exports climbed 23% WoW to 6.8 million DWT, supported by stronger loadings from PDM and CPBS, which more than offset softer flows from GIT and Tubarão. Junior miner exports also increased, up 15% WoW to 2.5 million DWT, with gains across all tracked ports.
April exports are set to close on a strong footing, tracking above both March and the same period last year. Both Vale and the junior miners continue to run stronger on a MoM and YoY basis. With just a few days left in the month, rollover into May is projected at 6–7 million DWT, within range of the 6.2 million carried over in the previous cycle.