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:
18/12/25
Dec 18, 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:
08-12/12/25 Agri
Dec 15, 2025
CBOT markets finished lower ahead of Tuesday’s WASDE, which was widely expected to lack bullish surprises. MATIF wheat was the exception, posting small gains. Russian 12.5% protein wheat FOB for January delivery edged up by $0.5 w/w to $227.5/t, according to IKAR. Geopolitical headlines remained in focus after Ukrainian President Volodymyr Zelenskiy said US-brokered peace talks remain stalled over security guarantees and control of eastern Ukraine, particularly the Donbas.
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.
