Weekly Freight Recap: 27/06/24
Jun 27, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic remained sluggish, with rates continuing to decline. Limited activity from South America contributed significantly to this decline, as charterers held back. The mineral trade experienced heavily discounted rates, while the grain trade also saw minimal support. A two-tiered market emerged, with mineral trades faring worse. Despite firm fundamentals, such as ton-time growth outpacing fleet growth, the lack of sufficient cargo influx halted any potential recovery.
Pacific: In the Pacific, the Panamax market faced severe rate erosion. Owners heavily discounted shorter runs to minimize exposure to the depressed market. Growing tonnage lists and lack of new cargoes further pressured rates. Deals were concluded at significantly reduced levels, with long round trips falling dramatically. For example, the rate for a longer round trip was heard to be around $12,500. Market sentiment remained bearish with no signs of a near-term recovery, reflected in the BPI timecharter average correction to $15,149.
SUPRAMAX
Atlantic: The Supramax market in the Atlantic saw downward pressure on rates, particularly for transatlantic voyages. Increased activity on fronthaul routes from the Black Sea and the Continent provided some relief but was insufficient to counterbalance the overall decline. The South Atlantic faced an oversupply of tonnage, leading to further rate drops. The US Gulf market weakened, with owners' expectations for higher rates unmet and rates fixing below previous levels. For instance, an Ultramax fixed at around $29,000 for a trip with pet-coke, and a Supra fixed at $20,000 for a trip from USEC to the UK.
Pacific: The Pacific Supramax market showed better cargo volumes and increased activity compared to the previous week. Rates for Pacific round voyages were stable, although there was a noticeable gap between charterers' and owners' expectations. Some routes, such as those from South China via Indonesia, saw decent rates, like $12,500 for a trip to South China. Overall, the market remained flat with no substantial changes anticipated soon, as reflected in the 10TC average finishing at $15,530.
HANDYSIZE
Atlantic: The Handysize market in the Atlantic followed the broader trend of limited activity and declining rates. The East Coast South America market suffered from an oversupply of tonnage compared to demand, causing further rate erosion. For example, a vessel fixed at $15,000 for a coal run to the North Continent. The US Gulf market showed little change in fundamentals, maintaining an indifferent outlook with reasonable numbers achieved from the Continent and Mediterranean.
Pacific: In the Pacific, the Handysize segment remained balanced with a steady flow of inquiries. Rates for routes such as Indonesia coal runs held steady at around $13,000, but fresh cargo was needed to drive any significant market changes. The market in North Asia also saw steady rates, like $14,000 for a trip via South Korea to India, but overall sentiment indicated the need for increased demand to support potential rate improvements. The 7TC average was slightly up, finishing at $13,738.
Overall, the dry bulk freight market this week was characterized by falling rates and subdued activity across all segments, with a generally bearish outlook and no immediate signs of recovery.
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.
