Weekly Freight Recap: 17/10/24
Oct 17, 2024
PANAMAX
Atlantic: The Panamax market continued to struggle in the Atlantic, with vessels facing difficulties securing employment due to an oversupply of tonnage. Limited cargo volumes, particularly from the US East Coast and Gulf, led to reduced rates. Though there was some support from grain exports, it wasn’t enough to balance the excess availability of ships, especially in the South Atlantic. Pacific: In the Pacific, the market remained weak even as activity picked up after recent holidays. Oversupply of vessels and soft demand from key routes, such as North Pacific and Australia, kept rates under pressure. Seasonal demand for coal and agricultural exports fell short of expectations, contributing to the negative market sentiment.
SUPRAMAX
Atlantic: The Atlantic Supramax market saw limited movement this week, with vessels slowly clearing as fresh inquiries emerged. While the US Gulf held steady, activity in West Africa provided some additional support. Transatlantic routes saw steady rates, while fronthaul trips experienced stronger demand.
Pacific: In the Pacific, grain demand from Australia and the North Pacific began to pick up, boosting sentiment. However, the Middle East Gulf and West Coast India market remained sluggish due to oversupply and weak cargo demand. Most owners preferred to stay in the Pacific, where rates showed more promise.
HANDYSIZE
Atlantic: The Handysize market remained relatively stable, with rates holding steady across the US Gulf and South Atlantic. In the Mediterranean and Continent regions, ongoing demand helped keep rates above previous levels, with a balanced outlook.
Pacific: In the Pacific, activity stayed strong, supported by tight tonnage availability. Sentiment remained positive, with healthy cargo volumes keeping rates stable for the short term.
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.
