Mads Frank Markussen explored the impact of Trump’s tariffs, sanctions
Feb 12, 2025
Recently, our colleague Mads Frank Markussen, Head of Freight Research & FFA, joined Felipe, Neil, and Michael on a special bonus episode of Sparta Market Outlook to dive into all things freight.
Mads and the Sparta team explored the impact of Trump’s tariffs, sanctions, and market inefficiencies on oil and freight trading, as well as how tariffs on Mexico, Canada, and China could reshape trade flows—discussed potential US-Europe tariff conflicts and why Russian sanctions have had a limited effect on dry bulk markets.
The conversation covered key differences between tanker and dry bulk markets and the growing influence of emissions regulations on voyage costs across the industry.
A must-listen for anyone in freight and commodities—check it out!
Listen to the full podcast here: https://www.spartacommodities.com/insights/freight-special-with-mads-frank-markussen-head-of-freight-research-ffa-at-cm-navigator/
Weekly Recaps
Commodities
Agri- Commodities:
9-13/6/25 Agri
Jun 16, 2025
Grain markets were pulled in opposing directions throughout Week 24, as favorable crop prospects, geopolitical shocks, and U.S. policy developments generated volatile trading. The week opened with a sharp sell-off in corn and wheat, as improved U.S. crop conditions and benign weather forecasts reinforced expectations of ample supplies. Corn and wheat both fell more than 2% on Monday, effectively wiping out prior gains. U.S. crop ratings surprised to the upside, with corn at 71% good to excellent and soybeans at 68%. Concurrently, stronger forecasts for Russian and Romanian wheat harvests added further pressure, while China’s surging soybean imports – largely sourced from Brazil – highlighted its continued pivot away from U.S. origin.
Freight
Freight Recap:
12/06/25
Jun 12, 2025
The Panamax Atlantic market strengthened further, particularly in the North where limited tonnage availability led owners to raise offers.
Commodities
Agri- Commodities:
2-6/6/25 Agri
Jun 09, 2025
Grain markets opened June on a mixed footing, with wheat futures initially rallying on renewed geopolitical fears following escalations between Ukraine and Russia. However, the rally soon fizzled as U.S. crop progress data turned sentiment more bearish. Spring and winter wheat condition ratings exceeded expectations, with plantings and harvests advancing steadily. Meanwhile, USDA export inspections showed strong corn loadings, but soybeans and wheat lagged.
Freight
Freight Recap:
05/06/25
Jun 05, 2025
The Panamax Atlantic market showed signs of a strong rebound, especially in both the North and South where firmer bids and tightening tonnage contributed to rising sentiment. Fixtures suggested that some charterers may have overplayed their hand, triggering a jump in rates
