Weekly Freight Recap: 05/09/24
Sep 05, 2024
PANAMAX
Atlantic: This week, The Panamax market shows potential for improvement as vessels head to the U.S. for the grain season. However, recovery is slow, with an oversupply of tonnage in the North Atlantic and limited demand, particularly for transatlantic routes. The U.S. Gulf offers better prospects for fronthaul routes, but South American volumes remain uncertain in the near term.
Pacific: Coal demand remains low, though mineral demand from Australia and Indonesia has seen some improvement. Despite this, the overall market is sluggish, with owners holding out for better conditions. There has been some period activity, but the market remains subdued.
SUPRAMAX
Atlantic: The Supramax market remains quiet, with limited cargo volumes and a slow start to the grain season. Tonnage oversupply persists across the Atlantic, with fewer cargoes from the Mediterranean and Continent regions. Fresh demand in the U.S. Gulf and South Atlantic remains minimal, keeping rates soft. While period demand is steady, spot market activity is low.
Pacific: Limited cargo volumes and an oversupply of tonnage. As the monsoon season ends, more cargoes are expected in the Indian Ocean region. Demand from the U.S. Gulf and South Atlantic is weak, and rates remain below recent levels. In Asia, the market is balanced but with a growing list of prompt tonnage.
HANDYSIZE
Atlantic: The Handysize market continues to see slow activity, with long tonnage lists and minimal demand in the Continent and Mediterranean. The South Atlantic remains quiet, leading to downward rate adjustments as owners reposition. Fresh demand in the U.S. Gulf has slowed, adding pressure on rates due to a growing tonnage list.
Pacific: In Asia, the Handysize market softened as available tonnage increased and general activity slowed across the region.
Weekly Recaps
Commodities
Agri- Commodities:
6-10/1 /25 AGRI
Jan 13, 2025
Monday: Grain markets rebounded from Friday's losses, bolstered by a weaker dollar and pre-USDA report positioning. CBOT-denominated prices gained, though MATIF milling wheat remained an outlier. U.S. weekly export inspections showed mixed results, with wheat exceeding expectations while corn and soybeans remained within range. In Argentina, persistent hot and dry conditions continued to pose risks, while Brazil benefited from favorable weather. Kansas winter wheat conditions declined, adding concerns over the domestic crop.
Freight
Freight Recap:
09/01/25
Dec 12, 2024
The Atlantic market began with initial strength due to limited New Year tonnage, but rates flattened as more vessels entered the region. In the south, oversupply led to discounted rates, and forward fixing remained cautious. Spot vessels maintained premiums, but lack of fresh demand in the north and a long tonnage list saw rates ease, favoring charterers. EC South America faced additional pressure from long ballast lists and sub-index equivalent fixtures for early February.
Commodities
Agri- Commodities:
9-13/12 /24 AGRI
Dec 16, 2024
Monday: US wheat futures began the week on a positive note but struggled to maintain gains as MATIF wheat remained unresponsive. Corn saw slight upward movement, while soybeans softened ahead of Tuesday’s USDA report. The Russian wheat market showed resilience, with FOB prices for 12.5% protein wheat climbing to $228/ton, up $2 from the previous week. Concerns about the poor condition of Russian winter grains were tempered by IKAR analysts suggesting the reality may be less dire. Meanwhile, China’s Politburo announced aggressive economic stimulus measures, signaling a shift in fiscal and monetary policies, but these had minimal impact on grains. U.S. export inspections highlighted weak performance in wheat, with only 227k tons inspected, significantly below the previous week’s 299k tons.
Freight
Freight Recap:
19/12/24
Dec 12, 2024
Panamax transatlantic activity saw a modest boost as charterers sought coverage ahead of the holiday season, but an oversupply of tonnage in the East Mediterranean kept pressure on rates. Fronthaul routes remained lackluster due to weak demand from the Black Sea and continued ballasting toward Gibraltar, leaving the market constrained.
