Weekly Freight Recap: 04/07/24
Jul 04, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic faced significant pressure, particularly in the northern regions. Rates continued to decline due to low demand, with shipowners undercutting each other to secure deals. The South American market was sluggish, showing little activity and keeping rates flat. The overall sentiment in the Atlantic remains bearish, with further rate drops anticipated.
Pacific: In the Pacific, there were signs of stabilization as new cargoes emerged from Australia and Indonesia. However, the market remains cautious, as the volume of available ships is still high. Sentiment improved slightly, but the overall outlook is tempered by weak demand from South America and negative forward freight agreements (FFAs).
SUPRAMAX
Atlantic: The Supramax market in the Atlantic experienced mixed feelings but overall downward pressure. There was a noticeable lack of prompt tonnage from the US Gulf, leading to higher discussions but no firm deals. The South Atlantic saw further rate declines due to limited new enquiries. West Africa and East Coast South America (ECSA) also reported low activity, exacerbating the pressure on rates.
Pacific: The Pacific market for Supramax vessels remained lacklustre. Brokers noted a persistent lack of appetite from Southeast Asia and minimal fresh enquiries. The Indian Ocean was similarly affected, with ample prompt tonnage available but little demand. The monsoon season in Western India is expected to reduce activity further over the next two months. Period rates remain high, but no new long-term enquiries were reported.
HANDYSIZE
Atlantic: The Handysize sector saw visible activity subside, leading to increased negativity in the market. The Baltic and Mediterranean regions reported a continued lack of fresh enquiries, putting additional pressure on owners. Despite some last-minute activity before US celebrations, the overall market remains weak, with prompt tonnage reducing rates to avoid sitting idle.
Pacific: In the Pacific, the Handysize market remained relatively balanced. Owners were reluctant to accept discounted rates despite limited fresh enquiries. While the overall activity level was low, some stability was observed as owners held firm on rate expectations, hoping for an uptick in demand.
Weekly Recaps
Freight
Freight Recap:
20/11/25
Nov 20, 2025
The dry bulk market showed a steady but uneven performance, with Handysize activity quiet, Supramax maintaining a firm underlying tone, and Panamax supported by stronger fundamentals in both basins. The Atlantic remained broadly stable, supported by positional tightness in some regions, while the Pacific held steady despite lighter fixing. Period and voyage activity continued across segments, reflecting balanced supply and demand dynamics.
Commodities
Agri- Commodities:
10-14/11/25 Agri
Nov 17, 2025
Grain markets firmed at the start of the week as headlines about a possible end to the U.S. government shutdown lifted CBOT futures, while European wheat lagged and improved EU export competitiveness. Market participants noted that, without fresh supportive catalysts, the rally might prove short-lived. Average trade estimates placed U.S. corn and soybean harvests at 92% and 96% complete, with winter wheat 95% planted and 52% good/excellent, though official USDA data remained unavailable due to the shutdown.
Egypt’s state buyer Mostakbal Misr was reported to have bought around 500k tons of wheat for late December–January delivery, including roughly 200k tons from Russia. Russian 12.5% FOB wheat closed last week at $232/t, slightly up on the week. Brazil’s 25/26 corn crop was forecast by Safras at 143.6 mmt, well above USDA’s September estimate. U.S. export inspections showed solid corn and soybean volumes but cumulative soybean loadings remained 6.4 mmt behind last year.
Freight
Freight Recap:
13/11/25
Nov 13, 2025
The dry bulk market showed a mixed performance, with Handysize activity remaining limited, Supramax maintaining firmer sentiment, and Panamax extending its gains on stronger fundamentals. The Atlantic generally held a positive tone across most segments, while the Pacific remained steady but slower, with Asian Handysize and Supramax markets facing softer enquiry and longer tonnage lists. Period interest persisted in both Supramax and Panamax sectors, supported by balanced fundamentals and improving demand signals.
Commodities
Agri- Commodities:
03-07/11/25 Agri
Nov 10, 2025
Soybeans extended their rally on expectations of accelerating Chinese demand, while rumors of U.S. wheat sales to China lifted Chicago futures. Corn stayed firm after StoneX raised its U.S. yield estimate to 186.0 bu/acre, though many still expect revisions lower in upcoming reports. Harvest progress reached 91% for soybeans and 83% for corn, with winter wheat planting nearly complete at 91%.
Export inspections totaled 965k t of soybeans, 1.67 mmt of corn, and 350k t of wheat—broadly in line with expectations. Despite easing trade tensions, Chinese importers continued booking cheaper Brazilian soybeans, reportedly 20 cargoes for December through mid-2026. Kazakhstan’s agriculture ministry reported a 27.1 mmt total harvest, including 20.3 mmt of wheat, far above USDA’s 16 mmt estimate.
