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
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.
