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:
11/12/25
Dec 11, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
01-05/12/25 Agri
Dec 08, 2025
USDA announced no new flash sales, disappointing soybean markets. Weekly export sales remain delayed and have not yet reached the period covering the US–China trade deal, leaving the true pace of buying uncertain. CBOT corn and wheat eased, while March MATIF wheat posted small gains after finding support at intraday contract lows. ABARES raised Australia’s 2025/26 wheat, barley, and canola output, though the increases were broadly in line with expectations. Algeria’s OAIC issued a soft wheat tender for February shipment, and Russian wheat prices slipped again, with 12.5% FOB for January at $227/t.
Freight
Freight Recap:
04/12/25
Dec 04, 2025
The dry bulk market saw a generally mixed performance, with Handysize remaining supported in the Atlantic, Supramax showing uneven movement across regions, and Panamax continuing its correction as rising vessel supply weighed on sentiment. Atlantic dynamics were split between firmer US Gulf/US East Coast activity in the smaller segments and softer conditions for Panamax. In the Pacific, muted enquiry and longer lists contributed to a softer tone, especially in NoPac, though isolated strength persisted in Australian coal.
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.
