Weekly Freight Recap: 10/10/24
Oct 10, 2024
PANAMAX
Atlantic: The Panamax market saw modest gains this week, with fronthaul rates improving due to strong activity from the US East Coast and Gulf, particularly for coal and grain exports. However, tonnage buildup in the north and weaker demand from South America and Europe kept the overall outlook balanced.
Pacific: In the Pacific, demand from Southeast Asia remained steady despite regional holidays. Strong support came from Indonesian coal exports, though growth was tempered by weaker Brazilian crop shipments and only moderate demand from India and China.
SUPRAMAX
Atlantic: In the Atlantic, the Supramax market remained largely positional. While the US Gulf showed signs of recovery with increased demand, the Mediterranean and South Atlantic stayed quiet with minimal fresh inquiries. Overall, the region held steady but without significant upward momentum.
Pacific: In the Pacific, sentiment was more positive, although weak demand persisted in some areas. Tonnage availability grew, but rates remained stable due to ongoing demand from Southeast Asia and the Indian Ocean.
HANDYSIZE
Atlantic: The Handy market in the Atlantic saw little change, with rates holding steady. While some fresh demand appeared in the South Atlantic, the US Gulf and Mediterranean markets stayed balanced, supported by stable fundamentals.
Pacific: In the Pacific, increased tonnage has been matched by robust cargo volumes, keeping rates healthy. However, limited fixtures suggest a cautious outlook moving forward.
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.
