Weekly Freight Recap: 05/12/24
Dec 05, 2024
PANAMAX
Atlantic: The Atlantic market faced persistent challenges, with limited grain and coal demand, an oversupply of tonnage, and a lack of fresh cargo keeping rates subdued. Some support came from South African coal activity, but overall tonnage imbalances continued to pressure owners. Rates in ECSA held relatively stable as South Africa absorbed some spot vessels, but charterers still managed to secure lower bids, leaving owners struggling to maintain previous levels.
Pacific: In the Pacific, the market saw no significant improvement despite steady Indonesian coal demand and occasional activity from Australian cargoes. High vessel availability kept rates under pressure, while bid-offer spreads widened. The market remained stagnant, with little sign of recovery in the near term.
SUPRAMAX
Atlantic: The Atlantic Supramax market saw slow activity, with weak demand and longer vessel lists weighing on sentiment. The South Atlantic showed a more balanced outlook, while the US Gulf rates appeared to stabilize after consistent declines. However, the Continent and Mediterranean remained sluggish due to insufficient interest and high vessel availability, putting further pressure on rates.
Pacific: The Pacific market was similarly quiet, with limited fresh inquiries and rising tonnage counts. Despite some demand from the Indian Ocean and sporadic cargo movements, the market struggled to gain momentum. As the festive season approaches, activity is expected to remain muted, with rates under continued pressure.
HANDYSIZE
Atlantic: The Handysize market continued to experience weak fundamentals, with insufficient demand and slow activity across the Continent, Mediterranean, and South Atlantic. A lack of clean cargoes and limited eastbound trips from the Black Sea caused further rate declines. The US Gulf market remained subdued with little fixing activity and no significant changes in sentiment.
Pacific: In Asia, despite an increase in available tonnage, the limited fresh demand helped stabilize rates at current levels. However, without a meaningful rise in cargo volumes, rates remained stagnant, with no major shifts in market dynamics.
Weekly Recaps
Freight
Freight Recap:
21/05/25
May 21, 2025
The Handysize segment saw mild gains in most Atlantic regions. The Continent and Mediterranean moved slightly higher, while the US Gulf and South Atlantic markets remained balanced, helped by steady cargo flows and tighter prompt tonnage. Sentiment was stable to slightly firmer across the basin.
Commodities
Agri- Commodities:
12-16/5/25 Agri
May 19, 2025
Monday kicked off with a flurry of major developments. The USDA’s first 2025/26 crop year projections revealed tighter-than-expected corn and soybean ending stocks, lifting those markets, though wheat futures lagged on a more bearish supply outlook. Meanwhile, U.S.-China trade optimism resurfaced after both sides agreed to a 90-day mutual tariff rollback, triggering gains in soybeans and financial markets. U.S. crop planting made notable headway, while winter wheat ratings improved by three points to 54% good to excellent.
Freight
Freight Recap:
15/05/25
May 15, 2025
The North Atlantic saw further pressure this week as mineral fronthaul activity continued at discounted levels and transatlantic demand remained thin. Tonnage availability increased, widening the bid-offer spread and contributing to a downward drift in rates.
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.
