Weekly Freight Recap: 28/11/24
Nov 29, 2024
PANAMAX
Atlantic: The Atlantic Panamax market struggled with weak fundamentals, as grain volumes remained low and coal demand softened due to high inventories and mild weather. Mineral cargoes provided limited support, but fronthaul routes were pressured by an oversupply of vessels heading East. Rates continued to decline, with demand insufficient to balance the market. Recovery is unlikely without a significant uptick in grain demand and stronger fundamentals.
Pacific: The Pacific market saw limited activity, with demand from key origins remaining subdued. Some support came from southern minerals and tenders, but an oversupply of tonnage kept pressure on rates. Modest improvements in forward freight markets offered slight optimism, but meaningful recovery requires a tightening of vessel supply and higher cargo volumes.
SUPRAMAX
Atlantic: The Supramax market remained weak due to limited cargo volumes and an oversupply of vessels. In the South Atlantic, activity was minimal, with rates steady but under pressure. The Mediterranean and Continent lacked fresh demand, further frustrating owners. Period activity was slow, with little optimism for a significant improvement in the short term.
Pacific: In the Pacific, northern regions saw slower activity, while southern areas showed slight optimism. Indonesian coal cargoes provided some movement, but overall demand remained insufficient to ease the oversupply of vessels. The Indian Ocean saw modest activity, but rates stayed subdued across most regions.
HANDYSIZE
Atlantic: The Handysize market in the Continent and Mediterranean weakened as fresh demand failed to materialize. In the US Gulf, activity was limited due to holiday-related slowdowns, while the South Atlantic remained stable but under pressure.
Pacific: In the Pacific, the market faced challenges with rising vessel availability and limited cargo options. Anticipation of steel orders in December offered some hope, but current sentiment remained weak, and rates were under pressure across the region.
Weekly Recaps
Commodities
Agri- Commodities:
5-9/5/25 Agri
May 12, 2025
Grain markets faced a volatile week, marked by sharp price swings, shifting weather outlooks, and heightened geopolitical developments. The week began with broad-based losses, as favorable U.S. planting weather and declining oil prices pressured corn and wheat. Old crop corn tumbled over 3%, while MATIF milling wheat slid toward the critical €200 mark. Improved Black Sea rainfall forecasts further weighed on sentiment, with IKAR raising its Russian wheat crop estimate to 83.8 mmt. Meanwhile, U.S. planting progress remained steady but slightly below expectations, and winter wheat condition ratings exceeded forecasts, adding to the bearish tone.
Freight
Freight Recap:
08/05/25
May 08, 2025
The Atlantic Panamax market showed modest stability, with transatlantic activity supported by firm demand from North Coast South America and tight tonnage off the Continent. Grain business helped keep sentiment steady, though the southern part of the basin remained quiet with few fresh enquiries. Activity was limited due to holidays, but premium routes offered some support to rates despite a broadly sideways trend.
Commodities
Agri- Commodities:
28/4/-22/5/25 Agri
May 05, 2025
Grain markets navigated a complex mix of macroeconomic signals, weather developments, and geopolitical currents in Week 18, with wheat drawing the most attention amid volatile fund positioning and shifting sentiment. Early in the week, U.S. wheat futures led a broad decline across grain contracts as expectations for improved crop conditions took hold. These were confirmed late Monday by the Crop Progress report, which showed winter wheat ratings jumping to 49% good/excellent—surpassing market forecasts and matching last year’s figure. Favorable U.S. rainfall and continued planting progress in corn and soybeans reinforced the bearish tone, while a sharp uptick in wheat export inspections helped limit losses. Meanwhile, soybeans bucked the trend to close in the green, supported in part by robust export activity.
Freight
Freight Recap:
01/05/25
May 01, 2025
Panamax market softened over the week, with spot demand showing only limited support, particularly out of North Coast South America. Activity slowed across most areas, partly due to industry events and holidays. The Mediterranean saw a buildup in available tonnage, though sentiment remained cautiously firm.
