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:
18/04/25
Apr 18, 2025
The Atlantic market saw further pressure with rates declining across most routes. Despite some vessel movement toward South America on hopes of stronger grain activity, this has not translated into stronger sentiment. The region remains oversupplied, and charterers continue to dictate terms, keeping offers low and confidence weak.
Commodities
Agri- Commodities:
7/4- 11/4/25 Agri
Apr 15, 2025
Grain markets began the week relatively stable, despite heightened volatility in U.S. financial markets. The threat of escalating trade tensions between the U.S. and China remained a significant concern, as President Trump proposed additional tariffs on Chinese imports. In the grain markets, U.S. export inspections for soybeans and corn were strong, while wheat inspections fell short of expectations.
Freight
Freight Recap:
10/04/25
Apr 10, 2025
Atlantic: The market remained under pressure with falling rates driven by oversupply and limited fresh demand. While some activity was seen out of South America, it wasn’t enough to shift sentiment. Charterers maintained control, and offers remained far apart from bids, especially on transatlantic routes. Overall, market participants remained cautious, with attention also diverted by global financial uncertainty.
Commodities
Agri- Commodities:
31/3- 4/4/25 Agri
Apr 07, 2025
Grain markets kicked off the week digesting the USDA’s planting intentions report, which offered mild support to wheat and modest pressure on corn. However, corn still managed to finish higher for the old crop, while soybeans slipped slightly. Export inspections showed strong performance for corn and solid showings for wheat and soybeans. Winter wheat conditions held steady in Kansas but declined in Texas and Oklahoma. Market attention began shifting toward President Trump’s anticipated tariff announcement, raising questions over potential trade fallout.
