Weekly Freight Recap: 18 July, 2024
Jul 18, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic region showed mixed activity this week. While there were reports of tight tonnage counts on the Continent/Mediterranean routes leading to slight rate increases, EC South America faced pressure, influencing the market sentiment. Overall, the market maintained a stable outlook with cautious optimism.
Pacific: In the Pacific, the Panamax market benefited from increased grain loadings and seasonal Black Sea volumes, supporting market conditions. However, Asia experienced subdued activity due to a national holiday in Japan. The market remains balanced, with expectations of sustained performance in the coming weeks.
SUPRAMAX
Atlantic: Supramax markets in the Atlantic displayed varied trends. While there was softening observed in the Continent and Mediterranean regions due to limited fresh enquiries, the US Gulf region saw healthy demand. Expansion of tonnage lists added pressure to prompt levels, particularly in front haul routes. The South Atlantic reported reduced demand, impacting prompt vessel rates. Despite challenges, market sentiment remains cautiously optimistic.
Pacific: In the Pacific, Supramax market dynamics were influenced by increased backhaul demand and cautious owner behavior regarding fixations. Rates remained stable, reflecting a balanced market condition with expectations for future activity.
HANDYSIZE
Atlantic: The Handysize sector saw modest gains, with a focus on the Atlantic region. Limited fresh enquiries across the Continent and Mediterranean persisted. In the South Atlantic, there was increased demand for vessels scheduled for end-July dates, reflecting positive sentiment in the market.
Pacific: Handysize activity in the Pacific region was characterized by steady performance and increased demand for backhaul trips. Owners' reluctance to fix ships for such routes positively impacted implied rates, underscoring a balanced market outlook in Asia.
Weekly Recaps
Freight
Freight Recap:
03/07/25
Jul 03, 2025
The Panamax market held broadly steady this week, though signs of softening began to emerge toward the close, particularly in areas where prompt tonnage began to outpace fresh demand. Across the Atlantic, sentiment remained mixed.
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.
