Weekly Freight Recap: 31/10/24
Oct 31, 2024
PANAMAX
Atlantic: The Panamax market held a mixed tone this week. North Atlantic grain trades maintained a premium, though overall improvements were limited by static fronthaul activity. East Coast South America faced significant tonnage oversupply, pushing rates lower for November liftings. Without new demand, rates are likely to remain steady or slightly under pressure, especially in the South Atlantic.
Pacific: In Asia, muted demand and cautious sentiment were the norms. While some talk suggested a floor in certain routes, limited trades kept rates mostly soft. Upcoming seasonal coal demand could boost activity, but with sluggish conditions likely for the next two weeks, a solid rebound remains uncertain.
SUPRAMAX
Atlantic: In the Atlantic, a slow market continued for Supramax, though there was some activity in the Continent and Mediterranean regions. The US Gulf and South Atlantic remained subdued, with high tonnage availability contributing to a negative outlook. Market fundamentals were stronger in the US Gulf, providing limited support amid a quieter week overall.
Pacific: In Asia, Supramax demand continued to weaken, leading to downward rate pressure as tonnage availability rose. While volumes picked up early in the week, sustained improvement was lacking, keeping rates generally stable but subdued.
HANDYSIZE
Atlantic: The Handysize market was relatively quiet. In the Continent and Mediterranean, scrap orders provided some activity, but overall fixing details were limited. Fundamentals in the US Gulf and South Atlantic stayed strong, giving a slight lift to market sentiment, though no major changes in fixtures surfaced.
Pacific: In the Pacific, conditions were challenging due to increasing tonnage and limited cargo availability, leading to further declines in rates. Despite the lack of activity, the market remains somewhat steady, with a mix of positional sentiment and cautious optimism.
Weekly Recaps
Commodities
Agri- Commodities:
23–27/06/25 Agri
Jun 30, 2025
The week opened with a sharp pullback across grain markets as the geopolitical risk premium evaporated following U.S. President Trump’s announcement of a ceasefire between Iran and Israel. While the truce remained fragile—lacking official confirmation from Israel—market sentiment quickly pivoted back to fundamentals. Pressure mounted as U.S. crop conditions were mixed and EU wheat yield projections were revised higher, particularly in southern and eastern Europe. U.S. export inspections provided little optimism, with soybeans and wheat underperforming, and fund positioning indicated heavy corn selling alongside increased soybean buying.
Freight
Freight Recap:
26/06/25
Jun 19, 2025
The Panamax market continued to show resilience this week, holding around the USD 12,800/day level on the 5TC index. Gains were seen across both basins, driven by steady demand and tightening tonnage in key loading areas.
Commodities
Agri- Commodities:
16–20/06/25 Agri
Jun 23, 2025
Monday opened with wheat and corn giving back gains from the prior session, pressured by generally favorable U.S. crop outlooks. Corn conditions improved to 72% good-to-excellent (G/E), aligning with last year’s level, while soybean ratings declined to 66% G/E. Winter wheat condition unexpectedly slipped, and harvest progress remained significantly delayed. Export inspections showed continued strength for corn, while soybean oil surged on tighter-than-expected NOPA stocks. Geopolitics hovered in the background as Iran signaled a desire to avoid escalation with Israel, while Turkey offered to mediate talks.
Freight
Freight Recap:
19/06/25
Jun 19, 2025
The Panamax Atlantic market showed signs of plateauing this week, with reduced spot activity prompting concerns of near-term softening. North Atlantic visibility remained limited, with owners and charterers continuing to disagree on rate expectations, leading to a widening bid-offer gap.
