Weekly Freight Recap: 20/06/24
Jun 20, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic basin faced a continued downturn, lacking substantial activity. South American routes, in particular, saw increased ballaster tonnage, leading to nervous sentiment among charterers who either retracted bids or offered significantly lower rates. Minimal fresh cargo from North America also contributed to the softness, resulting in owners accepting reduced rates to secure employment. Although there was a slight increase in grain and mineral activities towards the end of the week, it was insufficient to boost the market significantly.
Pacific: The Panamax market similarly suffered from declining values in the Pacific. The bid/offer gap remained wide, particularly for longer trips from the northern region, as charterers maintained a firm stance. Southern areas, such as Indonesia, saw an easing market, reflecting the overall downward trend. Despite a muted start to the week due to holidays, the market sentiment remains cautiously optimistic for a potential upturn driven by seasonal trends and anticipated grain shipments from the Black Sea.
SUPRAMAX
Atlantic: The Supramax market experienced a relatively stable week with healthy activity levels across the Atlantic basin. However, the lack of new cargo from the US Gulf exerted downward pressure on rates. The Continent-Mediterranean region remained optimistic, with brokers reporting stronger numbers from South America, albeit with some influence from the weaker Panamax sector. Grain and mineral shipments balanced the market despite little room for rate improvement. US Gulf fixtures saw stabilization, with notable rates for transatlantic routes and trades to the Mediterranean and Continent.
Pacific: The Supramax market displayed a more robust sentiment in the Pacific. While backhaul cargo pressure from the north had slightly slowed, the southern routes showed better numbers, particularly from Indonesia. The Indian Ocean and South African markets remained stable, with consistent rates. The Pacific market overall held steady, with Pacific coal round voyages achieving moderate rates. The general sentiment was that while current activities supported the market, increased cargo volume would be necessary to sustain or improve rates.
HANDYSIZE
Atlantic: The Handysize market in the Atlantic was led by significant gains in the US Gulf, where owners benefitted from a lack of prompt tonnage. This resulted in substantial rate increases, particularly for two to three-laden legs with Atlantic redelivery. The Continent and Mediterranean regions also saw continued resurgence with modest gains, while the South Atlantic faced softening due to limited enquiry and growing tonnage lists.
Pacific: The Handysize market remained balanced with a healthy cargo list in the Pacific. However, more fresh enquiries would be needed to maintain the current status. Despite this balance, there was no significant rate improvement, with the market relying on steady demand to keep rates from declining. Overall, the Handysize sector showed stability but with cautious optimism dependent on future cargo volumes.
Weekly Recaps
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
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.
