Weekly Cape Traffic Tracker – Week 45
Tonnage passing Singapore holds steady but remains below YTD average
Capesize tonnage passing through Singapore held relatively steady at 11.34 million DWT last week, slipping just 0.04 million DWT from the prior week and remaining below the year-to-date average. The slight dip was driven by lower Standard Capesize/Newcastlemax volumes, partially offset by a rise in dedicated VLOC activity.
Looking ahead, tonnage supply through Singapore is expected to increase, with gains anticipated across both vessel categories.
From a broader perspective, the 3-week rolling average is now broadly in line with year-ago levels. Dedicated VLOCs are up 6% YoY, while Standard Capesize/Newcastlemax volumes are down 3% YoY.
Australian Iron Ore Exports Slip on Dampier and Walcott Slowdown
Throughput edges down despite resilient flows from other Pilbara ports
Australian iron ore exports declined by 1.9% WoW to 19.6 million DWT last week, as weaker shipments out of Dampier and Port Walcott offset steady flows from other Pilbara ports. The dip came during a week of maintenance at Port Hedland, Dampier, and Port Walcott, alongside bouts of strong winds across the northwest.
Looking ahead, maintenance is set to continue at Port Hedland, Port Walcott, and Geraldton.
Iron ore throughput has hovered within the 4-year seasonal range for several weeks, though momentum is expected to build as Australian miners look to close the year strong.
Australian Coal Exports Dip as Steam Coal Volumes Ease
Steam coal softens at Abbot Point and Newcastle; coking coal stable
Australia’s coal exports slipped 6.9% WoW (-0.6 million DWT) to 7.5 million DWT last week, as reduced steam coal volumes—primarily from Abbot Point and Newcastle—more than offset a modest lift in coking coal exports, which were largely supported by stronger volumes out of Newcastle.
Heavy showers late last week at Hay Point/Dalrymple Bay, along with intermittent winds and light rain at Newcastle, added to ongoing maintenance at key terminals including Hay Point, Port Kembla, Newcastle, and Abbot Point.
Looking ahead, further works are expected at Newcastle and Hay Point. Coal throughput has mostly tracked along the mid-range of the 4-year seasonal range in recent weeks.
Brazil Iron Ore: Weekly Pulse
Exports slump 20% as Vale slows; juniors dip but remain up YoY
Brazilian iron ore exports fell sharply last week, down 20% to 7.4 million DWT — marking the slowest weekly pace since early July.
Vale’s shipments declined 23% WoW to 5.3 million DWT, with lower volumes out of PDM, CPBS, and GIT more than offsetting a modest rise from Tubarão. Guaíba recorded no shipments last week. A string of berth maintenance activities wrapped up across PDM, Tubarão, and GIT by midweek.
The junior miners also pulled back — weekly exports fell 14% WoW to 2.1 million DWT, with decreases from Sudeste, CSN, and Ponta Ubu outweighing the uptick from Minas Rio.
Midway through November, Brazil’s export pace is running below October levels, but still ahead of the same period last year. Vale continues to lag on both counts, while junior miners are tracking higher month-on-month and year-on-year.
At the current pace, Brazil is projected to roll over 7–8 million DWT of vessel supply into December — a jump from the 5.2 million seen in the October–November rollover.