Weekly Freight Recap: 01/08/24
Aug 01, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic basin faced significant declines, particularly impacted by an underperforming South American market. Limited activity in the North Atlantic, with few mineral voyage business deals, contributed to a negative sentiment. Rates remained lower than index levels, driven by a lack of visibility and limited fresh inquiries. There was a cautious outlook, with mixed views on market stability and the summer season further adding to the uncertainty.
Pacific: In the Pacific, there was slightly better activity compared to the Atlantic, yet rates continued to fall. Owners were discounting shorter runs to minimize exposure to low rates. The market struggled to find a floor, with ongoing uncertainty and reduced demand. Despite some activity, the overall sentiment remained cautious, reflecting the broader challenges faced across the Panamax segment.
SUPRAMAX
Atlantic: The Supramax market in the Atlantic remained lackluster with minimal fresh inquiries. The US Gulf, in particular, saw rates under negative pressure due to a lack of new activity. The South Atlantic also experienced reduced interest and weakening rates, mirroring the broader trend in the region. Few fixtures were reported, and overall sentiment was cautious with a prevailing negative outlook.
Pacific: In the Pacific, the Supramax market lost ground due to limited fresh inquiries. Activity was sparse, with both owners and charters adopting a 'wait and see' approach. However, the Indian Ocean showed a bit more activity, driven by sulphur shipments, though this did not significantly impact the overall market. The general mood in the Pacific was one of caution, with mixed opinions on potential upward pressure in specific areas.
HANDYSIZE
Atlantic: The Handysize market in the Atlantic was subdued with little action reported. In the Continent, there were signs of slight resistance from owners, although concrete details were scarce. The US Gulf seemed to gain ground, though no actual fixtures were heard. The South Atlantic remained finely balanced with limited fresh inquiries, reflecting broader market trends.
Pacific: The Pacific market for Handysize vessels saw limited fresh inquiries, with a generally pessimistic sentiment prevailing. There was a lack of new fixtures, making it difficult to gauge market direction. Despite the subdued activity, the market saw a slight gain in average rates, though overall sentiment remained cautious and uncertain. The 'wait and see' approach dominated, with market participants hesitant to commit amid unclear prospects.
Weekly Recaps
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
Commodities
Agri- Commodities:
26–30 /5/25 Agri
Jun 02, 2025
Monday opened quietly in Europe as U.S. markets remained closed for Memorial Day. MATIF wheat traded lower in thin volumes, but losses were limited by concerns over dry conditions in France and rising temperatures in Russia. The May JRC MARS Bulletin painted a mixed EU crop outlook, nudging soft wheat yield estimates slightly higher but trimming rapeseed expectations. Meanwhile, geopolitical noise grew louder with President Trump mulling new sanctions against Russia, and Germany lifting range restrictions on Ukrainian strikes using Western weapons.
Freight
Freight Recap:
29/05/25
May 29, 2025
The Atlantic market struggled with weak sentiment throughout the week. Following recent holidays, demand remained soft and fresh cargoes were limited, particularly in the North. In the South, while some fixing activity was noted, oversupply of ships continued to weigh heavily on rates. Owners faced increasing pressure as charterers held firm, and some vessels were reported fixing below last done.
Commodities
Agri- Commodities:
19-23/5/25 Agri
May 26, 2025
Grain markets exhibited volatility throughout Week 21, with wheat prices leading a mid-week rally before easing slightly into the weekend. Early in the week, MATIF milling wheat weakened in response to Saudi Arabia’s tender, which confirmed continued preference for competitively priced Black Sea wheat. Meanwhile, CBOT futures found strength, buoyed by a broader risk-on sentiment in financial markets after a brief dip following Moody’s downgrade of the U.S. credit rating. U.S. corn inspections came in strong, and planting progress remained well ahead of the five-year average, though winter wheat conditions unexpectedly declined. On the geopolitical front, markets briefly reacted to the news of prospective ceasefire talks between Ukraine and Russia, although subsequent clarifications tempered expectations.
