Bulk carrier class glossary
Dry bulk tonnage is traded in size bands. Each band has its own economics, ports and benchmark index.
Capesize (100,000+ dwt)
Named for the routes that historically required rounding the Cape of Good Hope or Cape Horn, Capesize vessels carry iron ore and coal on long-haul trades between Brazil, West Africa, Australia and Asia.
The segment is the most volatile: a small number of cargoes and deep-draft port constraints mean rates can double or halve within weeks.
Panamax and Kamsarmax (65,000–100,000 dwt)
Sized around canal and terminal limits, these vessels dominate the seaborne coal and grain trades. Kamsarmax refers to tonnage sized for the loading constraints at Port Kamsar in Guinea.
Supramax and Ultramax (50,000–65,000 dwt)
Geared with onboard cranes, these vessels can work ports without shore-side handling equipment, which makes them the backbone of the minor bulk trades: steels, fertilisers, cement, agribulks and forest products.
Handysize (10,000–40,000 dwt)
The most flexible segment, serving shallow-draft and regional ports with smaller parcel sizes. Earnings are typically less volatile than Capesize but harder to benchmark because of route diversity.