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:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
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.
