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
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
Freight
Freight Recap:
27/11/25
Nov 27, 2025
The dry bulk market showed a mostly subdued performance, with Handysize and Supramax sentiment remaining soft across both basins and Panamax maintaining a firm, steady tone driven by continued grain activity. The Atlantic saw mixed conditions, with smaller segments facing limited enquiry while Panamax benefitted from solid U.S. Gulf and East Coast support. In the Pacific, Handy/Supra sectors stayed muted, whereas Panamax demand from Indonesia and Japan kept momentum intact despite some easing in Chinese interest.
Commodities
Agri- Commodities:
17-21/11/25 Agri
Nov 24, 2025
The rebound in soybeans and Chicago wheat was even more impressive than Friday’s plunge, driven this time by actual Chinese purchases rather than political promises. US wheat rallied alongside soybeans on talk of Chinese demand, though without confirmation that wheat was included, while MATIF wheat lagged despite a weaker EUR/USD. USDA corrected Friday’s missing flash sales by trimming US soybean sales to China by 100k tons, yet sentiment stayed upbeat on reports that China bought at least 14 US cargoes. NOPA reported a record October crush of 227.65 mbu, suggesting stronger domestic use may offset some export weakness. Weekly inspections showed soybeans at 1,176k tons, corn at 2,054k tons, and wheat at 247k tons; cumulative soybean inspections remain down 7.5 mmt y/y while corn is up 6.7 mmt.
Russian 12.5% wheat FOB for late December fell $3 w/w to $229/t, while Poland reported sabotage on a key rail line used to send aid and weapons to Ukraine. Based on cumulative inspections so far this marketing year, wheat needs to maintain last year’s pace to meet USDA’s export forecast, soybeans need to accelerate, and corn could afford to slow.
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.
