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:
18/04/25
Apr 18, 2025
The Atlantic market saw further pressure with rates declining across most routes. Despite some vessel movement toward South America on hopes of stronger grain activity, this has not translated into stronger sentiment. The region remains oversupplied, and charterers continue to dictate terms, keeping offers low and confidence weak.
Commodities
Agri- Commodities:
7/4- 11/4/25 Agri
Apr 15, 2025
Grain markets began the week relatively stable, despite heightened volatility in U.S. financial markets. The threat of escalating trade tensions between the U.S. and China remained a significant concern, as President Trump proposed additional tariffs on Chinese imports. In the grain markets, U.S. export inspections for soybeans and corn were strong, while wheat inspections fell short of expectations.
Freight
Freight Recap:
10/04/25
Apr 10, 2025
Atlantic: The market remained under pressure with falling rates driven by oversupply and limited fresh demand. While some activity was seen out of South America, it wasn’t enough to shift sentiment. Charterers maintained control, and offers remained far apart from bids, especially on transatlantic routes. Overall, market participants remained cautious, with attention also diverted by global financial uncertainty.
Commodities
Agri- Commodities:
31/3- 4/4/25 Agri
Apr 07, 2025
Grain markets kicked off the week digesting the USDA’s planting intentions report, which offered mild support to wheat and modest pressure on corn. However, corn still managed to finish higher for the old crop, while soybeans slipped slightly. Export inspections showed strong performance for corn and solid showings for wheat and soybeans. Winter wheat conditions held steady in Kansas but declined in Texas and Oklahoma. Market attention began shifting toward President Trump’s anticipated tariff announcement, raising questions over potential trade fallout.
