Weekly Freight Recap: 19/09/24
Sep 19, 2024
PANAMAX
Atlantic: Panamax market saw continued gains, with firmer rates concluded for both trans-Atlantic and fronthaul routes, particularly in the North. The South Atlantic, supported by demand from East Coast South America, also showed strength. Seasonal grain and coal demand in Q4 is still expected to support the market.
Pacific: Rates were mixed, with tonnage availability outpacing fresh demand, causing rates to ease. Holidays kept activity lower, though some positive sentiment remains as seasonal shifts approach.
SUPRAMAX
Atlantic: The US Gulf remained fairly robust, with stronger rates achieved, especially for trans-Atlantic routes. However, the South Atlantic continued to weaken due to limited fresh inquiries and an abundance of prompt tonnage. The Continent and Mediterranean lacked momentum, keeping rates stable.
Pacific: Activity in the Pacific was muted, with rates holding around previous levels. Nickel ore trade saw limited interest, while rates were stable overall despite a slight dip in available tonnage.
HANDYSIZE
Atlantic: In the Handysize sector, the US Gulf maintained a supportive trend with a slight improvement in rates. The Continent and Mediterranean markets remained subdued, with rates following recent levels. The South Atlantic experienced limited demand, suggesting a potential drop in rates in the coming days.
Pacific: The Pacific market saw little change, with rates largely stable due to a lack of significant cargo volume. While tonnage counts decreased slightly, the limited demand kept rates near last done levels.
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.
