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
Freight
Freight Recap:
27/11/25
Nov 27, 2025
The dry bulk market showed a mostly subdued performance, with Handysize and Supramax sentiment remaining soft across both basins and Panamax maintaining a firm, steady tone driven by continued grain activity. The Atlantic saw mixed conditions, with smaller segments facing limited enquiry while Panamax benefitted from solid U.S. Gulf and East Coast support. In the Pacific, Handy/Supra sectors stayed muted, whereas Panamax demand from Indonesia and Japan kept momentum intact despite some easing in Chinese interest.
Commodities
Agri- Commodities:
17-21/11/25 Agri
Nov 24, 2025
The rebound in soybeans and Chicago wheat was even more impressive than Friday’s plunge, driven this time by actual Chinese purchases rather than political promises. US wheat rallied alongside soybeans on talk of Chinese demand, though without confirmation that wheat was included, while MATIF wheat lagged despite a weaker EUR/USD. USDA corrected Friday’s missing flash sales by trimming US soybean sales to China by 100k tons, yet sentiment stayed upbeat on reports that China bought at least 14 US cargoes. NOPA reported a record October crush of 227.65 mbu, suggesting stronger domestic use may offset some export weakness. Weekly inspections showed soybeans at 1,176k tons, corn at 2,054k tons, and wheat at 247k tons; cumulative soybean inspections remain down 7.5 mmt y/y while corn is up 6.7 mmt.
Russian 12.5% wheat FOB for late December fell $3 w/w to $229/t, while Poland reported sabotage on a key rail line used to send aid and weapons to Ukraine. Based on cumulative inspections so far this marketing year, wheat needs to maintain last year’s pace to meet USDA’s export forecast, soybeans need to accelerate, and corn could afford to slow.
Freight
Freight Recap:
20/11/25
Nov 20, 2025
The dry bulk market showed a steady but uneven performance, with Handysize activity quiet, Supramax maintaining a firm underlying tone, and Panamax supported by stronger fundamentals in both basins. The Atlantic remained broadly stable, supported by positional tightness in some regions, while the Pacific held steady despite lighter fixing. Period and voyage activity continued across segments, reflecting balanced supply and demand dynamics.
Commodities
Agri- Commodities:
10-14/11/25 Agri
Nov 17, 2025
Grain markets firmed at the start of the week as headlines about a possible end to the U.S. government shutdown lifted CBOT futures, while European wheat lagged and improved EU export competitiveness. Market participants noted that, without fresh supportive catalysts, the rally might prove short-lived. Average trade estimates placed U.S. corn and soybean harvests at 92% and 96% complete, with winter wheat 95% planted and 52% good/excellent, though official USDA data remained unavailable due to the shutdown.
Egypt’s state buyer Mostakbal Misr was reported to have bought around 500k tons of wheat for late December–January delivery, including roughly 200k tons from Russia. Russian 12.5% FOB wheat closed last week at $232/t, slightly up on the week. Brazil’s 25/26 corn crop was forecast by Safras at 143.6 mmt, well above USDA’s September estimate. U.S. export inspections showed solid corn and soybean volumes but cumulative soybean loadings remained 6.4 mmt behind last year.
