Weekly Freight Recap: 24/10/24
Oct 24, 2024
PANAMAX
Atlantic: The Panamax market started the week slowly, with owners lowering rate expectations due to an oversupply of tonnage, especially in the East Coast South America region. While there was some improvement in Atlantic inquiries, overall sentiment remained negative, as the growing number of ships put downward pressure on rates.
Pacific: The market faced softening conditions, though the Indonesian market remained more stable. However, with increasing tonnage lists and limited fresh demand, there were concerns about further rate declines as the week progressed.
SUPRAMAX
Atlantic: The Supramax market had a mixed week. Demand for fronthaul business remained steady in the US Gulf, though transatlantic rates softened as recent gains paused. The Mediterranean saw improved demand, with a better outlook for the coming weeks.
Pacific: In Asia, the market continued to decline gradually. There was limited fresh inquiry, and the Indian Ocean remained mostly quiet. Owners were cautious as tonnage availability increased, keeping pressure on rates despite some pockets of activity.
HANDYSIZE
Atlantic: The Handysize market remained positive, particularly in the Continent and Mediterranean regions, where scrap orders boosted rates. However, in the South Atlantic, the market was more subdued, with few notable changes. The US Gulf held steady with stable fundamentals, maintaining current rate levels.
Pacific: Conditions were softer as tonnage continued to grow. Limited cargo from the North Pacific and Australia led to downward pressure, although the market remained stable in parts of Southeast Asia.
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.
