Weekly Freight Recap: 11/04/24
Apr 11, 2024
This week's recap is as follows;
PANAMAX
Atlantic: The North Atlantic market exhibited signs of weakness despite some indications of stabilization, with rates remaining subdued due to limited fresh demand. However, there were reports of cheap voyage rates for trans-Atlantic business, contributing to further downward pressure on prices. In the South Atlantic, there was a notable increase in front haul demand, leading to firmer levels of trade. Yet, the overall sentiment remained pessimistic, reflected in the $19 drop in the BPI timecharter index, closing at $14,680.
Pacific: In Asia, the Panamax market experienced a non-descript day influenced by various holidays, resulting in drifting rates. Although there were discussions of steadier rates for deferred dates, the market sentiment remained cautious due to the lack of new demand and ongoing challenges. Despite isolated instances of stability, low activity and oversupply of tonnage persisted, painting a subdued outlook for the Panamax sector.
SUPRAMAX
Atlantic: Mixed sentiments prevailed in the Atlantic as some observed positional conditions in the US Gulf, while others noted better enquiry and stronger rates discussions. The South Atlantic market remained balanced, with the larger Panamax sizes showing signs of improvement, potentially impacting the Ultramax segment. However, overall activity remained limited amid widespread holidays, resulting in a fairly static 10TC average, gaining just $19 to settle at $13,863.
Pacific: Minimal activity was observed in Asia, with sentiments remaining fairly balanced despite the lack of significant developments. The seasonality suggests a potential bottoming out of the market with gradual rises expected in the coming months. Supportive fundamentals, including shipment volume growth outpacing supply growth, and rising industrial metals prices indicate a positive trajectory for the Supramax market in the foreseeable future.
HANDYSIZE
Atlantic: Across the Continent and the Mediterranean, the Handysize market witnessed a balanced day despite limited visible activity. In the South Atlantic, limited opportunities for prompt tonnage persisted, with expectations of improvements in May. However, minimal cargo availability dampened market sentiments despite signs of resistance to further reductions in the US Gulf and US East Coast.
Pacific: In South East Asia and Southern China, minimal activity was reported due to holidays in Indonesia and a lack of fresh enquiry from Australia. In North China-Japan, prompt tonnage levels continued to outweigh cargo demand, although some expressed optimism for potential changes in fortunes in the near future. Overall, the Handysize market remained subdued, with the BHSI falling by 3 points to 724 and the 7TC settling at $13,037.
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.
