Santos, One Port, Two Opposite Stories
October wait-time data from Santos shows how far apart vessel segments sharing the same port can drift. Our own AIS records put Panamax and Kamsarmax median waiting time at 29.2 hours in October, down from 42.5 hours in September, based on 69 and 59 vessel observations respectively. Ultramax moved the same way: 68.2 hours down to 41.9 hours. Both segments are clearing faster than they were a month ago.
Handymax and Supramax tell the opposite story. Median wait climbed from 8.2 hours in September to 67.6 hours in October, an eightfold jump, and the sample sizes are close enough (26 and 29 vessels) that this isn't noise from a thin data set. Most of Santos's Handymax/Supramax traffic ties to sugar, corn and soybean exports moving through the CLI Sul terminal. Capesize also softened slightly, 11.6 hours to 16.8, but on a small sample of 9 and 12 vessels, so we're not reading much into that one yet.
We checked for a strike, storm or maintenance closure that would explain the Handymax/Supramax jump and found nothing in the news. The view from our voyage risk desk is that a move this lopsided across segments usually points to queue composition and terminal loading priority rather than general port congestion. Given the sample size, especially the 29-vessel Supramax figure, and no independent confirmation from port sources, this reads as an early signal rather than a firm conclusion.
The wider market moved too. The BDI closed at 2,667 on October 14, down 134 points or 4.78% on the day and into its seventh or eighth straight losing session. Capesize dropped 9.1%, Panamax eased about 1%, and Supramax actually gained 0.7%. The big-ship side of the market is going through a fast correction that the smaller segments haven't felt yet. VLSFO in Singapore stood at $917.00/mt, Brent at $106.12/bbl.
Source: Marcenta's own AIS port data (liman_benchmark), September-October 2026 · tradingeconomics.com and hellenicshippingnews.com, 14.10.2026 · handybulk.com, 13.10.2026 · Ship & Bunker, 14.10.2026.