Weekly Freight Recap: 29/08/24
Aug 29, 2024
PANAMAX
Atlantic: This week, the Panamax market saw continued weakness, with little activity and no significant changes. The Atlantic basin experienced persistent long tonnage lists, leading to further rate declines as new inquiries remained scarce. While there is potential for improvement next month due to the US grain season, increased Indian coal demand, and Brazilian corn shipments, the current market remains subdued.
Pacific: The market was more balanced, though still quiet. Some owners are considering repositioning to East Coast South America rather than committing to Indonesian round voyages, reflecting the limited opportunities. With demand from key loading regions softening further, potential improvement hinges on factors like a rebound in China's steel sector, which could lead to increased coal imports.
SUPRAMAX
Atlantic: The market had a mixed week. The US Gulf saw slight rate improvements due to increased activity, while the South Atlantic offered limited options, leading to softer sentiment in the Continent and Mediterranean as tonnage availability grew. The market is in a holding pattern, with participants anticipating further adjustments before any potential upswing.
Pacific: The market remained largely unchanged, with both owners and charterers showing restraint. Low Chinese coal demand continued to influence the market, and activity was minimal as most players are waiting for more decisive signals before making moves.
HANDYSIZE
Atlantic: The Handysize market experienced a quiet week, with limited activity and softening rates. The Continent and Mediterranean regions were particularly slow, with few new inquiries, while the South Atlantic also saw reduced momentum. However, the US Gulf displayed some positive signs as fresh demand entered the market, gradually easing the previously high tonnage count.
Pacific: The Handysize market remained subdued, with little new information or movement in rates. The tonnage list increased slightly, contributing to a stagnant environment. Despite the current quiet, there is an expectation among some market participants that activity could pick up in the final quarter of the year.
Weekly Recaps
Freight
Freight Recap:
03/07/25
Jul 03, 2025
The Panamax market held broadly steady this week, though signs of softening began to emerge toward the close, particularly in areas where prompt tonnage began to outpace fresh demand. Across the Atlantic, sentiment remained mixed.
Commodities
Agri- Commodities:
23–27/06/25 Agri
Jun 30, 2025
The week opened with a sharp pullback across grain markets as the geopolitical risk premium evaporated following U.S. President Trump’s announcement of a ceasefire between Iran and Israel. While the truce remained fragile—lacking official confirmation from Israel—market sentiment quickly pivoted back to fundamentals. Pressure mounted as U.S. crop conditions were mixed and EU wheat yield projections were revised higher, particularly in southern and eastern Europe. U.S. export inspections provided little optimism, with soybeans and wheat underperforming, and fund positioning indicated heavy corn selling alongside increased soybean buying.
Freight
Freight Recap:
26/06/25
Jun 19, 2025
The Panamax market continued to show resilience this week, holding around the USD 12,800/day level on the 5TC index. Gains were seen across both basins, driven by steady demand and tightening tonnage in key loading areas.
Commodities
Agri- Commodities:
16–20/06/25 Agri
Jun 23, 2025
Monday opened with wheat and corn giving back gains from the prior session, pressured by generally favorable U.S. crop outlooks. Corn conditions improved to 72% good-to-excellent (G/E), aligning with last year’s level, while soybean ratings declined to 66% G/E. Winter wheat condition unexpectedly slipped, and harvest progress remained significantly delayed. Export inspections showed continued strength for corn, while soybean oil surged on tighter-than-expected NOPA stocks. Geopolitics hovered in the background as Iran signaled a desire to avoid escalation with Israel, while Turkey offered to mediate talks.
