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

Freight

Freight Recap:
18/04/25

Apr 18, 2025

The Atlantic market saw further pressure with rates declining across most routes. Despite some vessel movement toward South America on hopes of stronger grain activity, this has not translated into stronger sentiment. The region remains oversupplied, and charterers continue to dictate terms, keeping offers low and confidence weak.

Commodities

Agri- Commodities:
7/4- 11/4/25 Agri

Apr 15, 2025

Grain markets began the week relatively stable, despite heightened volatility in U.S. financial markets. The threat of escalating trade tensions between the U.S. and China remained a significant concern, as President Trump proposed additional tariffs on Chinese imports. In the grain markets, U.S. export inspections for soybeans and corn were strong, while wheat inspections fell short of expectations.

Freight

Freight Recap:
10/04/25

Apr 10, 2025

Atlantic: The market remained under pressure with falling rates driven by oversupply and limited fresh demand. While some activity was seen out of South America, it wasn’t enough to shift sentiment. Charterers maintained control, and offers remained far apart from bids, especially on transatlantic routes. Overall, market participants remained cautious, with attention also diverted by global financial uncertainty.

Commodities

Agri- Commodities:
31/3- 4/4/25 Agri

Apr 07, 2025

Grain markets kicked off the week digesting the USDA’s planting intentions report, which offered mild support to wheat and modest pressure on corn. However, corn still managed to finish higher for the old crop, while soybeans slipped slightly. Export inspections showed strong performance for corn and solid showings for wheat and soybeans. Winter wheat conditions held steady in Kansas but declined in Texas and Oklahoma. Market attention began shifting toward President Trump’s anticipated tariff announcement, raising questions over potential trade fallout.

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