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
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.
