Americas Report 14 May 2026

Market activity this week has been quieter as many orders and cargoes are for forward dates, representing a transition period with attention shifting to late May and early June. Despite subdued trading levels, strength continues to build in the market, particularly in ECSA, where Panamax rates have risen, bolstering Ultramax rates as well. Tonnage in Chile is looking toward ECSA to capitalize on local opportunities, and NOPAC is sustaining its positive momentum, suggesting the potential for continued market improvement in the near term. Additionally, congestion has been noted at the Panama Canal and Puerto Quetzal, reflecting pressure on logistics in key shipping routes.