Weekly Freight Recap: 04/10/24
Oct 04, 2024
PANAMAX
Atlantic: The market experienced mixed activity this week. Despite increased mineral cargoes from the US East Coast providing some support, overall trading remained subdued, with a softening of rates due to rising vessel availability.
Pacific: The market showed more stability driven by stronger demand, particularly from India. However, regional holidays contributed to slower activity, keeping sentiment cautious despite some emerging demand from Australia and stable rates.
SUPRAMAX
Atlantic: The Supramax market in the Atlantic continued to face challenges, with limited new inquiries and downward pressure on rates due to growing vessel supply. Some support came from mineral cargoes, but overall sentiment remained weak.
Pacific: Conversely, the Pacific market exhibited more resilience, driven by robust demand from India. Nonetheless, activity remained minimal, with rates dipping below previous levels, reflecting a cautious outlook amid regional holidays.
HANDYSIZE
Atlantic: The Handy market in the Atlantic saw mixed sentiment, with some prompt cargoes being covered. However, the South Atlantic and US Gulf struggled with limited inquiries and an expanding tonnage list.
Pacific: In the Pacific, activity remained positive, supported by tight tonnage availability and healthy cargo volumes, though further details on fixtures were limited.
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.
