Weekly Freight Recap: 22/08/24
Aug 22, 2024
PANAMAX
Atlantic: Tonnage availability in the Atlantic continues to expand, pushing rates down as owners chase diminishing market opportunities. The Continent remains particularly soft, with lower levels of activity leading to further rate erosion. The South Atlantic also weakened, with minimal fresh cargoes reported. Owners are becoming increasingly concerned, considering repositioning options as market sentiment remains bearish.
Pacific: The Pacific market saw some recovery in activity, with reports of increased demand for Indonesian round voyages, helping to stabilize the region's balance. However, despite these improvements, overall sentiment remains weak. The index continued to slide due to insufficient positive momentum. Market participants are closely watching the potential impact of upcoming grain and coal demand, which could shift dynamics in the coming weeks.
SUPRAMAX
Atlantic: The Atlantic Supramax market remains lackluster, with limited fresh inquiries and rates seeing little support. The Continent and Mediterranean regions struggled amid a continued summer lull, and the US Gulf saw stronger discussions for larger fronthaul cargoes, though fixing details remain scarce. The South Atlantic, while steady, still lacks the push needed for significant rate improvement, leading to a cautiously pessimistic outlook.
Pacific: In the Pacific, activity has slowed, especially in the southern regions, with earlier gains now appearing to level off. Increased tonnage availability has put further pressure on rates, leading to limited optimism. Indonesian and Australian cargo flows showed some resilience, but overall, the market remains largely stagnant. Market players are waiting for a potential uplift later in the year, although visibility remains low for now.
HANDYSIZE
Atlantic: The Handysize market saw limited activity across the Continent and Mediterranean, with sentiment remaining soft amid minimal fresh inquiries. The South Atlantic remains flat, with few cargoes emerging to absorb the tonnage. In the US Gulf, the imbalance between cargo and tonnage persists, keeping rates under pressure as fixing opportunities dwindle. Owners face a challenging environment with little expectation of an immediate improvement.
Pacific: The Pacific market showed marginal improvement, aided by slightly better cargo availability from Australia and Indonesia. However, the rise in activity has done little to reverse the overall downward trend, with tonnage availability still exceeding demand. The market remains cautious, with owners hoping for a more sustained rebound later in the year, though current visibility remains limited.
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.
