Weekly Freight Recap: 06/06/24
Jun 03, 2024
PANAMAX
Atlantic: The Panamax market in the Atlantic remained sluggish, with the North Atlantic continuing to underperform due to limited cargo availability and competition from smaller vessels. Rates saw downward pressure as owners sought to cover positions in a lacklustre market. Despite this, there were slight improvements in the ECSA region, suggesting a potential market floor might be forming. Posidonia in Athens contributed to a quiet start to the week, with minimal new inquiries and a generally subdued market sentiment.
Pacific: The Pacific basin also experienced a softer market, though the decline was less pronounced than in the Atlantic. Limited activity marked the beginning of the week, but some support came from the South American route (P6), which saw higher levels for early July arrivals. Steady cargo flow in Asia provided a slight impetus, helping the Panamax timecharter index to rise modestly. However, the overall sentiment remains cautious, with expectations of further weakening as market dynamics adjust post-Posidonia.
SUPRAMAX
Atlantic: The Supramax market in the Atlantic was characterized by a lack of fresh activity, largely due to the ongoing Posidonia effect. Rates remained flat across most areas, with brokers reporting minimal changes. Some fixtures were noted, but detailed information was scarce. The overall sentiment remained tepid, awaiting more significant movements post-Posidonia.
Pacific: In contrast, the Pacific Supramax market saw more activity, particularly focused on the nickel ore routes. Rates for trips via Indonesia to India and China were relatively stable, reflecting steady demand in the region. The Pacific market performed well across geared size segments, with the Handy index remaining stable. Trips from India to the Continent/Mediterranean and inter-MEG/MEG-EC India routes maintained firm rates. However, backhaul trades saw limited interest due to ample tonnage in the Atlantic and low cargo volumes. The market anticipates increased activity once the Posidonia effect diminishes and players return to their desks.
HANDYSIZE
Atlantic: The Handysize segment experienced a quiet week, with Posidonia limiting activity as many market participants attended events in Athens. The BHSI index fell slightly, reflecting the muted sentiment. The South Atlantic continued to see rate erosion due to a lack of fresh cargo. The US Gulf region saw some resistance from owners against further rate reductions, but significant changes in sentiment require more cargo volume. Overall, the market remained subdued, with little visible activity.
Pacific: The Pacific Handysize market also slowed, particularly in Southeast Asia, where a lack of fresh inquiries contributed to a negative outlook. Tonnage lists are expected to grow as activity remains stifled. In North China-Japan, recent improvements were followed by a lull, leading to potential corrections in the coming days. The overall sentiment in the Pacific mirrors the cautious approach seen across the other segments, with market participants awaiting post-Posidonia adjustments.
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.
