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:
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.
