Weekly Freight Recap: 14/11/24
Nov 14, 2024
PANAMAX
Atlantic: The Panamax market showed signs of stability, especially in the North Atlantic, where demand for transatlantic routes remained steady, mainly supported by US Gulf grain and coal shipments. Reduced tonnage gave owners some leverage, despite limited fronthaul demand. Some Atlantic voyage fixtures achieved higher-than-previous time charter levels, with mixed views on further gains.
Pacific: In Asia, steady demand for North Pacific grain and Indonesian routes contributed to stable rates, with quality vessels securing premiums. Although the market sentiment was firmer, gains remained modest compared to the Atlantic. The period market also saw notable activity, with several vessels fixed on longer-term charters at stable rates.
SUPRAMAX
Atlantic: The Supramax market experienced rate declines across regions, with low cargo volumes in the US Gulf and Continent covered below previous levels due to high tonnage. Despite some activity in West Africa, limited fresh demand led to bearish sentiment. Overall, the lack of enquiry in the Mediterranean and ample available vessels exerted downward pressure on rates.
Pacific: In the Pacific, Indonesia-India coal routes saw rates fall below recent benchmarks, with ample tonnage and weak demand causing further softening. Asian brokers also reported decreased demand in northern routes, mirroring the overall downward trend in rates. Period activity remained low, reflecting subdued interest in the current market.
HANDYSIZE
Atlantic: Handysize sentiment stayed weak, driven by high tonnage and low activity in the US Gulf and South Atlantic, putting downward pressure on rates. Limited fresh demand in the Continent and Mediterranean kept rates slightly below last-done levels, especially for scrap cargoes, which saw some activity but no major rate improvements.
Pacific: In the Pacific, the market remained quiet, with limited fixing activity and lower bids from charterers. Demand in both North and Southeast Asia was minimal, leading to lower rates. The overall market outlook stayed soft, with continued downward pressure reflected in rate declines.
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.
