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:
05/06/25
Jun 05, 2025
The Panamax Atlantic market showed signs of a strong rebound, especially in both the North and South where firmer bids and tightening tonnage contributed to rising sentiment. Fixtures suggested that some charterers may have overplayed their hand, triggering a jump in rates
Commodities
Agri- Commodities:
26–30 /5/25 Agri
Jun 02, 2025
Monday opened quietly in Europe as U.S. markets remained closed for Memorial Day. MATIF wheat traded lower in thin volumes, but losses were limited by concerns over dry conditions in France and rising temperatures in Russia. The May JRC MARS Bulletin painted a mixed EU crop outlook, nudging soft wheat yield estimates slightly higher but trimming rapeseed expectations. Meanwhile, geopolitical noise grew louder with President Trump mulling new sanctions against Russia, and Germany lifting range restrictions on Ukrainian strikes using Western weapons.
Freight
Freight Recap:
29/05/25
May 29, 2025
The Atlantic market struggled with weak sentiment throughout the week. Following recent holidays, demand remained soft and fresh cargoes were limited, particularly in the North. In the South, while some fixing activity was noted, oversupply of ships continued to weigh heavily on rates. Owners faced increasing pressure as charterers held firm, and some vessels were reported fixing below last done.
Commodities
Agri- Commodities:
19-23/5/25 Agri
May 26, 2025
Grain markets exhibited volatility throughout Week 21, with wheat prices leading a mid-week rally before easing slightly into the weekend. Early in the week, MATIF milling wheat weakened in response to Saudi Arabia’s tender, which confirmed continued preference for competitively priced Black Sea wheat. Meanwhile, CBOT futures found strength, buoyed by a broader risk-on sentiment in financial markets after a brief dip following Moody’s downgrade of the U.S. credit rating. U.S. corn inspections came in strong, and planting progress remained well ahead of the five-year average, though winter wheat conditions unexpectedly declined. On the geopolitical front, markets briefly reacted to the news of prospective ceasefire talks between Ukraine and Russia, although subsequent clarifications tempered expectations.
