Weekly Freight Recap: 23/05/24
May 23, 2024
PANAMAX
Atlantic: Activity in the North Atlantic decreased as most recent cargoes were covered, leading to potential downward rate adjustments. The trans-Atlantic market weakened due to a lack of freight, causing fronthaul rates to drift. In the South Atlantic, vessel counts rose, and South American rates picked up for late June arrivals, supported by strong FFA figures. Despite a slow start post-holidays, the East Coast South America (ECSA) showed resilience with stable volumes and decent demand projected from mid-May. Overall market sentiment is firm, with expectations for higher averages in Q3.
Pacific: The market showed signs of weakening, mainly from Indonesia, due to a seasonal decline in coal demand. Despite a stable tonnage count, a lack of bids created uncertainty about the market value. Rates for longer routes improved due to steady business from Australia, with some achieving higher rates. The overall sentiment in the Pacific remains mixed, reflecting firmness in certain areas and uncertainty in others.
SUPRAMAX
Atlantic: Negative trends were observed across most segments, with rates falling sharply for vessels in the North Continent, Mediterranean, and US Gulf due to a lack of fresh volume. The trans-Atlantic sector continued to struggle, needing more fresh enquiry to support rates. In the ECSA, resistance was noted with fixture volumes for trips both East and within the Atlantic, though bids were reported to be substantially lower than previous rates. Specific fixtures included trips from Brazil to the East Mediterranean and Southeast Asia, with rates indicating a challenging market.
Pacific: The Asian market held a positive trend, with rates higher than in the Atlantic. Ultramax and Supramax vessels saw healthy fixing activity with good cargo flow, mainly from Indonesia and Southeast Asia. Rates for trips via Indonesia to Southeast Asia remained strong, with owners asking for higher rates. Despite falling indexes, demand for trips from the North Pacific and Australia remained robust, with some achieving notably high rates.
HANDYSIZE
Atlantic: Pressure mounted on prompt tonnage with limited fresh enquiry in the Continent and Mediterranean. Stability prevailed, but potential rate adjustments were noted as activity slowed in the South Atlantic. Some owners showed reluctance to reduce levels further, with more cargoes emerging from the River Plate and Southern Brazil offering hope for near-term improvements. The US Gulf struggled with restricted fresh enquiry, leading to muted activity and steady rates.
Pacific: Positivity remained evident with a steady flow of fresh enquiry across all loading regions. Owners continued to see slight gains, indicating a relatively stable Asian market. Activity was muted due to holidays, but overall numbers remained steady, reflecting ongoing stability and resilience. The market maintained its position, with a healthy level of enquiries and some rate improvements noted.
Weekly Recaps
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.
Freight
Freight Recap:
13/11/25
Nov 13, 2025
The dry bulk market showed a mixed performance, with Handysize activity remaining limited, Supramax maintaining firmer sentiment, and Panamax extending its gains on stronger fundamentals. The Atlantic generally held a positive tone across most segments, while the Pacific remained steady but slower, with Asian Handysize and Supramax markets facing softer enquiry and longer tonnage lists. Period interest persisted in both Supramax and Panamax sectors, supported by balanced fundamentals and improving demand signals.
Commodities
Agri- Commodities:
03-07/11/25 Agri
Nov 10, 2025
Soybeans extended their rally on expectations of accelerating Chinese demand, while rumors of U.S. wheat sales to China lifted Chicago futures. Corn stayed firm after StoneX raised its U.S. yield estimate to 186.0 bu/acre, though many still expect revisions lower in upcoming reports. Harvest progress reached 91% for soybeans and 83% for corn, with winter wheat planting nearly complete at 91%.
Export inspections totaled 965k t of soybeans, 1.67 mmt of corn, and 350k t of wheat—broadly in line with expectations. Despite easing trade tensions, Chinese importers continued booking cheaper Brazilian soybeans, reportedly 20 cargoes for December through mid-2026. Kazakhstan’s agriculture ministry reported a 27.1 mmt total harvest, including 20.3 mmt of wheat, far above USDA’s 16 mmt estimate.
