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:
23–27/06/25 Agri
Jun 30, 2025
The week opened with a sharp pullback across grain markets as the geopolitical risk premium evaporated following U.S. President Trump’s announcement of a ceasefire between Iran and Israel. While the truce remained fragile—lacking official confirmation from Israel—market sentiment quickly pivoted back to fundamentals. Pressure mounted as U.S. crop conditions were mixed and EU wheat yield projections were revised higher, particularly in southern and eastern Europe. U.S. export inspections provided little optimism, with soybeans and wheat underperforming, and fund positioning indicated heavy corn selling alongside increased soybean buying.
Freight
Freight Recap:
26/06/25
Jun 19, 2025
The Panamax market continued to show resilience this week, holding around the USD 12,800/day level on the 5TC index. Gains were seen across both basins, driven by steady demand and tightening tonnage in key loading areas.
Commodities
Agri- Commodities:
16–20/06/25 Agri
Jun 23, 2025
Monday opened with wheat and corn giving back gains from the prior session, pressured by generally favorable U.S. crop outlooks. Corn conditions improved to 72% good-to-excellent (G/E), aligning with last year’s level, while soybean ratings declined to 66% G/E. Winter wheat condition unexpectedly slipped, and harvest progress remained significantly delayed. Export inspections showed continued strength for corn, while soybean oil surged on tighter-than-expected NOPA stocks. Geopolitics hovered in the background as Iran signaled a desire to avoid escalation with Israel, while Turkey offered to mediate talks.
Freight
Freight Recap:
19/06/25
Jun 19, 2025
The Panamax Atlantic market showed signs of plateauing this week, with reduced spot activity prompting concerns of near-term softening. North Atlantic visibility remained limited, with owners and charterers continuing to disagree on rate expectations, leading to a widening bid-offer gap.
