Weekly Freight Recap: 13/06/24
Jun 13, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic experienced notable optimism this week, especially in the North Atlantic, where tight tonnage availability drove expectations of rising rates. Significant demand for grain and mineral trips from the North Coast of South America and the US Gulf contributed to the bullish sentiment. Meanwhile, the South Atlantic market remained stable yet firm, supported by ample cargo volumes. This steadiness will likely persist, buoyed by consistent demand and limited vessel availability, suggesting a potential rate increase soon.
Pacific: The Panamax market in the Pacific, however, remained quiet and subdued. Limited activity was observed, with a weaker overall market tone, partly due to holidays in parts of Asia slowing down the start of the week. Despite some stronger bids for grain transatlantic round trips, the sentiment remained bearish with minimal overall market activity. Charterers held off placing bids, leading to a standoff with owners and further stifling activity. However, a few period fixtures indicated a cautious optimism for a market rebound soon, as participants anticipate increased demand and potentially higher rates.
SUPRAMAX
Atlantic: The Supramax market in the Atlantic showed a marked improvement, driven by stronger numbers from the US Gulf, where rates increased significantly compared to the previous week. Fresh requirements and better cargo volumes, especially from the US East Coast and US Gulf, pushed rates up by around USD 3,000 from last week's fixtures. Additionally, the scrap trade from the Baltic/Continent paid a premium, with owners holding back to negotiate better rates. In the South Atlantic, sentiment remained positive, although fresh fixtures were limited. Overall, the Atlantic Supramax market is gaining strength, supported by increased demand and improved cargo volumes.
Pacific: In the Pacific, the Supramax market saw a slight uptick in activity, indicating that the market might have reached a bottom. A good balance of cargo and tonnage supply led to stable rates. Supramax vessels delivering to North China for coal round voyages and Ultramax vessels from Indonesia to China saw consistent fixtures at steady rates. While the market remained somewhat positional, there was cautious optimism as brokers reported more activity and stable demand, suggesting a potential stabilization of rates soon.
HANDYSIZE
Atlantic: The Handysize market in the Atlantic experienced a slight shift in sentiment, with brokers noting a potential change in fortune for owners in the Mediterranean and Continent regions. Increased cargo visibility contributed to this optimism, though significant gains were yet to be seen. The South Atlantic remained challenging, with negative sentiment due to prompt tonnage and a lack of fresh enquiry. However, the lack of prompt tonnage in the US Gulf allowed owners to achieve small gains, hinting at a potential recovery if demand continues to rise.
Pacific: In the Pacific, the Handysize market continued to face pressure, with negativity prevailing due to a lack of fresh enquiries from key regions such as Australia, Indonesia, and China. This persistent lack of demand further softened the market, causing rates to remain under pressure. Despite ongoing challenges, there were signs that owners were beginning to hold back, hoping for a turnaround as the market seeks a balance between supply and demand.
Weekly Recaps
Freight
Freight Recap:
27/11/25
Nov 27, 2025
The dry bulk market showed a mostly subdued performance, with Handysize and Supramax sentiment remaining soft across both basins and Panamax maintaining a firm, steady tone driven by continued grain activity. The Atlantic saw mixed conditions, with smaller segments facing limited enquiry while Panamax benefitted from solid U.S. Gulf and East Coast support. In the Pacific, Handy/Supra sectors stayed muted, whereas Panamax demand from Indonesia and Japan kept momentum intact despite some easing in Chinese interest.
Commodities
Agri- Commodities:
17-21/11/25 Agri
Nov 24, 2025
The rebound in soybeans and Chicago wheat was even more impressive than Friday’s plunge, driven this time by actual Chinese purchases rather than political promises. US wheat rallied alongside soybeans on talk of Chinese demand, though without confirmation that wheat was included, while MATIF wheat lagged despite a weaker EUR/USD. USDA corrected Friday’s missing flash sales by trimming US soybean sales to China by 100k tons, yet sentiment stayed upbeat on reports that China bought at least 14 US cargoes. NOPA reported a record October crush of 227.65 mbu, suggesting stronger domestic use may offset some export weakness. Weekly inspections showed soybeans at 1,176k tons, corn at 2,054k tons, and wheat at 247k tons; cumulative soybean inspections remain down 7.5 mmt y/y while corn is up 6.7 mmt.
Russian 12.5% wheat FOB for late December fell $3 w/w to $229/t, while Poland reported sabotage on a key rail line used to send aid and weapons to Ukraine. Based on cumulative inspections so far this marketing year, wheat needs to maintain last year’s pace to meet USDA’s export forecast, soybeans need to accelerate, and corn could afford to slow.
Freight
Freight Recap:
20/11/25
Nov 20, 2025
The dry bulk market showed a steady but uneven performance, with Handysize activity quiet, Supramax maintaining a firm underlying tone, and Panamax supported by stronger fundamentals in both basins. The Atlantic remained broadly stable, supported by positional tightness in some regions, while the Pacific held steady despite lighter fixing. Period and voyage activity continued across segments, reflecting balanced supply and demand dynamics.
Commodities
Agri- Commodities:
10-14/11/25 Agri
Nov 17, 2025
Grain markets firmed at the start of the week as headlines about a possible end to the U.S. government shutdown lifted CBOT futures, while European wheat lagged and improved EU export competitiveness. Market participants noted that, without fresh supportive catalysts, the rally might prove short-lived. Average trade estimates placed U.S. corn and soybean harvests at 92% and 96% complete, with winter wheat 95% planted and 52% good/excellent, though official USDA data remained unavailable due to the shutdown.
Egypt’s state buyer Mostakbal Misr was reported to have bought around 500k tons of wheat for late December–January delivery, including roughly 200k tons from Russia. Russian 12.5% FOB wheat closed last week at $232/t, slightly up on the week. Brazil’s 25/26 corn crop was forecast by Safras at 143.6 mmt, well above USDA’s September estimate. U.S. export inspections showed solid corn and soybean volumes but cumulative soybean loadings remained 6.4 mmt behind last year.
