Weekly Freight Recap: 21/11/24
Nov 21, 2024
PANAMAX
Atlantic: The Atlantic Panamax market faced strong headwinds with minimal fresh demand, especially from EC South America and the US Gulf, leading to an oversupply of tonnage and lower rates. Baltic cargo provided limited support, but overall, sentiment remained bearish. Seasonal factors may bring a bounce in February when the Brazilian soybean season begins, but near-term demand remains subdued.
Pacific: The Pacific basin saw slightly better activity, with steady Australian demand offering some relief. However, growing tonnage counts kept rates under pressure, and charterers remained cautious. Global congestion levels for loading are at their lowest in 2023, while discharging congestion has risen but remains below average. Overall, the outlook is challenging, with rates unlikely to recover meaningfully in the short term.
SUPRAMAX
Atlantic: The Atlantic Supramax market continued to struggle, with oversupply of tonnage and weak demand in the US Gulf and South Atlantic pushing rates lower. The Continent and Mediterranean markets saw slight stability, but overall, the Atlantic remained under pressure.
Pacific: In the Pacific, high tonnage levels kept rates soft, despite limited signs of stabilization in Northern Asia. Period activity was sparse, and overall sentiment stayed weak. The Indian Ocean also experienced patchy demand, contributing to subdued rates across the sector.
HANDYSIZE
Atlantic: The Handysize market saw mixed sentiment. While rates in the South Atlantic showed slight improvement due to stronger fundamentals, the US Gulf remained under pressure with heavy tonnage availability and weak demand. The Continent and Mediterranean held steady at previous levels, but no significant gains were recorded.
Pacific: The Pacific Handysize market faced challenges, with rising tonnage levels and a lack of fresh cargo forcing owners to lower their rate expectations. Overall, the regional market remained soft, with limited activity and downward pressure on rates.
Weekly Recaps
Commodities
Agri- Commodities:
11-15/08/25 Agri
Aug 18, 2025
Grain markets experienced another volatile week as political developments, trade disputes, and bearish USDA data drove sentiment. Early in the week, soybeans surged on speculation that Chinese buying might resume following Donald Trump’s extension of tariff pauses, but corn and wheat failed to follow. Export inspections painted a mixed picture, with corn and soybeans performing well while wheat lagged. The USDA’s August WASDE loomed large over the market, with traders bracing for higher yield estimates.
Freight
Freight Recap:
14/08/25
Aug 14, 2025
The dry bulk market presented a mixed performance this week, with the Supramax segment edging higher, Handysize holding steady with minor gains, and Panamax showing a regional split — weaker in the Atlantic, firmer in the Pacific.
Commodities
Agri- Commodities:
04–08/08/25 Agri
Aug 11, 2025
Grain markets swung sharply this week, rebounding midweek before easing, driven by yield outlooks, export data, and geopolitical headlines.
Freight
Freight Recap:
7/08/25
Aug 07, 2025
Port of Callao halted operations after an Evergreen ship lost 50 containers during rough weather. Meanwhile, July's freight data shows the market stuck in a supply-heavy “holding pattern,” with capacity expanding but pricing rising faster — suggesting a slow, uneven recovery in logistics and transportation
