Weekly Freight Recap: 25/07/24
Jul 25, 2024
PANAMAX
Atlantic: The Atlantic Panamax market showed strength with tightening tonnage in the North Atlantic and additional cargoes in the South Atlantic. Notable fixtures included a vessel fixed for a North Coast South America to Skaw-Barcelona trip at a premium rate. The East Coast South America (ECSA) region remained stable, trading around 16,500/17,000 BKI. Although overall activity was subdued, the North Continent saw slight gains, supported by steady demand for Black Sea grain.
Pacific: In the Pacific, Panamax conditions were balanced despite potential disruptions from Typhoon Gaemi. Increased cargo flows and slightly longer tonnage lists were reported. Key fixtures included a North Pacific trip to the Singapore-Japan range and an East Coast Australia to Japan trip. Delays and port closures in China had minimal impact, with owners hopeful for continued market activity.
SUPRAMAX
Atlantic: The Atlantic Supramax market faced mixed fortunes with limited fresh inquiries from the Continent and Mediterranean. US Gulf fronthaul requirements lost momentum, but the South Atlantic showed resilience with stronger levels for later dates. Notable fixtures included a Texas to India petcoke trip and fresh orders for sulphur cargoes, supporting a positive outlook.
Pacific: In Asia, the Supramax market remained healthy with improved cargo volumes and limited prompt tonnage. Noteworthy fixtures included a North China to Arabian Gulf trip and a backhaul to the US Gulf. Indonesian and Southeast Asian markets saw rates around 18,000/19,000 levels for China-bound trips. Increased demand for period tonnage, particularly for Supramax and Ultramax sizes, reflected optimism.
HANDYSIZE
Atlantic:The Atlantic Handysize market was quiet, with limited activity and a marginal increase in the Baltic Handysize Index (BHSI). The Continent and Mediterranean slowed due to a lack of fresh inquiries, but the South Atlantic improved as vessel lists tightened. Notable fixtures included a Recalada to Morocco grain trip. US Gulf sentiment remained positive, driven by a tonnage-to-cargo imbalance.
Pacific: In the Pacific, the Handysize market faced softer tones with limited cargo availability from Australia and Indonesia. Activity was restrained, with notable fixtures including a Caribbean to Iceland trip. The general outlook remained cautious, with owners and charterers hoping for a more balanced supply-demand scenario.
Weekly Recaps
Commodities
Agri- Commodities:
6-10/1 /25 AGRI
Jan 13, 2025
Monday: Grain markets rebounded from Friday's losses, bolstered by a weaker dollar and pre-USDA report positioning. CBOT-denominated prices gained, though MATIF milling wheat remained an outlier. U.S. weekly export inspections showed mixed results, with wheat exceeding expectations while corn and soybeans remained within range. In Argentina, persistent hot and dry conditions continued to pose risks, while Brazil benefited from favorable weather. Kansas winter wheat conditions declined, adding concerns over the domestic crop.
Freight
Freight Recap:
09/01/25
Dec 12, 2024
The Atlantic market began with initial strength due to limited New Year tonnage, but rates flattened as more vessels entered the region. In the south, oversupply led to discounted rates, and forward fixing remained cautious. Spot vessels maintained premiums, but lack of fresh demand in the north and a long tonnage list saw rates ease, favoring charterers. EC South America faced additional pressure from long ballast lists and sub-index equivalent fixtures for early February.
Commodities
Agri- Commodities:
9-13/12 /24 AGRI
Dec 16, 2024
Monday: US wheat futures began the week on a positive note but struggled to maintain gains as MATIF wheat remained unresponsive. Corn saw slight upward movement, while soybeans softened ahead of Tuesday’s USDA report. The Russian wheat market showed resilience, with FOB prices for 12.5% protein wheat climbing to $228/ton, up $2 from the previous week. Concerns about the poor condition of Russian winter grains were tempered by IKAR analysts suggesting the reality may be less dire. Meanwhile, China’s Politburo announced aggressive economic stimulus measures, signaling a shift in fiscal and monetary policies, but these had minimal impact on grains. U.S. export inspections highlighted weak performance in wheat, with only 227k tons inspected, significantly below the previous week’s 299k tons.
Freight
Freight Recap:
19/12/24
Dec 12, 2024
Panamax transatlantic activity saw a modest boost as charterers sought coverage ahead of the holiday season, but an oversupply of tonnage in the East Mediterranean kept pressure on rates. Fronthaul routes remained lackluster due to weak demand from the Black Sea and continued ballasting toward Gibraltar, leaving the market constrained.
