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
Freight
Freight Recap:
13/11/25
Nov 13, 2025
The dry bulk market showed a mixed performance, with Handysize activity remaining limited, Supramax maintaining firmer sentiment, and Panamax extending its gains on stronger fundamentals. The Atlantic generally held a positive tone across most segments, while the Pacific remained steady but slower, with Asian Handysize and Supramax markets facing softer enquiry and longer tonnage lists. Period interest persisted in both Supramax and Panamax sectors, supported by balanced fundamentals and improving demand signals.
Commodities
Agri- Commodities:
03-07/11/25 Agri
Nov 10, 2025
Soybeans extended their rally on expectations of accelerating Chinese demand, while rumors of U.S. wheat sales to China lifted Chicago futures. Corn stayed firm after StoneX raised its U.S. yield estimate to 186.0 bu/acre, though many still expect revisions lower in upcoming reports. Harvest progress reached 91% for soybeans and 83% for corn, with winter wheat planting nearly complete at 91%.
Export inspections totaled 965k t of soybeans, 1.67 mmt of corn, and 350k t of wheat—broadly in line with expectations. Despite easing trade tensions, Chinese importers continued booking cheaper Brazilian soybeans, reportedly 20 cargoes for December through mid-2026. Kazakhstan’s agriculture ministry reported a 27.1 mmt total harvest, including 20.3 mmt of wheat, far above USDA’s 16 mmt estimate.
Freight
Freight Recap:
06/11/25
Nov 06, 2025
The dry bulk market experienced a generally softer tone this week, with most segments facing mild corrections. The Handysize and Supramax sectors saw limited fresh activity, while the Panamax market showed brief midweek stability before continuing its downward trajectory. Weak demand across basins and growing vessel availability placed pressure on rates, though select regional improvements offered some support.
Commodities
Agri- Commodities:
27-31/10/25 Agri
Nov 03, 2025
Grain markets opened the week firmer after upbeat headlines on a potential U.S.–China trade deal lifted risk appetite across commodities. The optimism came despite limited clarity on agricultural commitments and lingering pressure from weaker export data.
Russian wheat prices were slightly lower, while EU maize yields were trimmed further. In Argentina, the peso strengthened after President Javier Milei’s party secured a midterm victory. U.S. harvest progress advanced, though export inspections remained subdued.
