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
Freight
Freight Recap:
11/12/25
Dec 11, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
01-05/12/25 Agri
Dec 08, 2025
USDA announced no new flash sales, disappointing soybean markets. Weekly export sales remain delayed and have not yet reached the period covering the US–China trade deal, leaving the true pace of buying uncertain. CBOT corn and wheat eased, while March MATIF wheat posted small gains after finding support at intraday contract lows. ABARES raised Australia’s 2025/26 wheat, barley, and canola output, though the increases were broadly in line with expectations. Algeria’s OAIC issued a soft wheat tender for February shipment, and Russian wheat prices slipped again, with 12.5% FOB for January at $227/t.
Freight
Freight Recap:
04/12/25
Dec 04, 2025
The dry bulk market saw a generally mixed performance, with Handysize remaining supported in the Atlantic, Supramax showing uneven movement across regions, and Panamax continuing its correction as rising vessel supply weighed on sentiment. Atlantic dynamics were split between firmer US Gulf/US East Coast activity in the smaller segments and softer conditions for Panamax. In the Pacific, muted enquiry and longer lists contributed to a softer tone, especially in NoPac, though isolated strength persisted in Australian coal.
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.
