Weekly Freight Recap: 08/08/24
Aug 08, 2024
PANAMAX
Atlantic: The Panamax market continued its decline this week, moving away from typical seasonal trends. The Atlantic basin saw minimal trans-Atlantic activity, with significant rate corrections anticipated due to low demand and an oversupply of vessels. Charterers held the upper hand, reducing bids and leading to weaker sentiment overall.
Pacific: In the Pacific, a lack of cargo support led to expected rate corrections. Older, smaller vessels faced heavy discounts, particularly on short Indonesian round trips. Market activity from Australia to China and Malaysia reflected ongoing corrections, with overall sentiment remaining weak.
SUPRAMAX
Atlantic: The Supramax market saw moderate activity, with new sugar stems and steady South Africa-India coal trades. The US Gulf market weakened further due to a lack of fresh inquiries and an increasing prompt tonnage list. Despite some period charter activity, overall market sentiment remained flat.
Pacific: Demand was weak in the south and more balanced in the north. Regular Indonesia-China and Indonesia-India trips continued, with period charters still in demand. Recent deals suggested a slight upward trend in rates, but the overall market remained subdued.
HANDYSIZE
Atlantic: The Handysize market had mixed results this week. Some positivity emerged from South America, with fixtures to Central America and Europe showing slight rate improvements. The US Gulf saw limited activity, with some trips to Mexico and the Mediterranean, but overall market excitement was low.
Pacific: Market fundamentals remained stable with the usual Indonesian coal runs to China and India. Rates and activity levels were consistent with previous weeks, indicating a balanced market. Interest in period charters reflected steady demand in the region.
Weekly Recaps
Commodities
Agri- Commodities:
6-10/1 /25 AGRI
Jan 13, 2025
Monday: Grain markets rebounded from Friday's losses, bolstered by a weaker dollar and pre-USDA report positioning. CBOT-denominated prices gained, though MATIF milling wheat remained an outlier. U.S. weekly export inspections showed mixed results, with wheat exceeding expectations while corn and soybeans remained within range. In Argentina, persistent hot and dry conditions continued to pose risks, while Brazil benefited from favorable weather. Kansas winter wheat conditions declined, adding concerns over the domestic crop.
Freight
Freight Recap:
09/01/25
Dec 12, 2024
The Atlantic market began with initial strength due to limited New Year tonnage, but rates flattened as more vessels entered the region. In the south, oversupply led to discounted rates, and forward fixing remained cautious. Spot vessels maintained premiums, but lack of fresh demand in the north and a long tonnage list saw rates ease, favoring charterers. EC South America faced additional pressure from long ballast lists and sub-index equivalent fixtures for early February.
Commodities
Agri- Commodities:
9-13/12 /24 AGRI
Dec 16, 2024
Monday: US wheat futures began the week on a positive note but struggled to maintain gains as MATIF wheat remained unresponsive. Corn saw slight upward movement, while soybeans softened ahead of Tuesday’s USDA report. The Russian wheat market showed resilience, with FOB prices for 12.5% protein wheat climbing to $228/ton, up $2 from the previous week. Concerns about the poor condition of Russian winter grains were tempered by IKAR analysts suggesting the reality may be less dire. Meanwhile, China’s Politburo announced aggressive economic stimulus measures, signaling a shift in fiscal and monetary policies, but these had minimal impact on grains. U.S. export inspections highlighted weak performance in wheat, with only 227k tons inspected, significantly below the previous week’s 299k tons.
Freight
Freight Recap:
19/12/24
Dec 12, 2024
Panamax transatlantic activity saw a modest boost as charterers sought coverage ahead of the holiday season, but an oversupply of tonnage in the East Mediterranean kept pressure on rates. Fronthaul routes remained lackluster due to weak demand from the Black Sea and continued ballasting toward Gibraltar, leaving the market constrained.
