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
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
Freight
Freight Recap:
27/11/25
Nov 27, 2025
The dry bulk market showed a mostly subdued performance, with Handysize and Supramax sentiment remaining soft across both basins and Panamax maintaining a firm, steady tone driven by continued grain activity. The Atlantic saw mixed conditions, with smaller segments facing limited enquiry while Panamax benefitted from solid U.S. Gulf and East Coast support. In the Pacific, Handy/Supra sectors stayed muted, whereas Panamax demand from Indonesia and Japan kept momentum intact despite some easing in Chinese interest.
Commodities
Agri- Commodities:
17-21/11/25 Agri
Nov 24, 2025
The rebound in soybeans and Chicago wheat was even more impressive than Friday’s plunge, driven this time by actual Chinese purchases rather than political promises. US wheat rallied alongside soybeans on talk of Chinese demand, though without confirmation that wheat was included, while MATIF wheat lagged despite a weaker EUR/USD. USDA corrected Friday’s missing flash sales by trimming US soybean sales to China by 100k tons, yet sentiment stayed upbeat on reports that China bought at least 14 US cargoes. NOPA reported a record October crush of 227.65 mbu, suggesting stronger domestic use may offset some export weakness. Weekly inspections showed soybeans at 1,176k tons, corn at 2,054k tons, and wheat at 247k tons; cumulative soybean inspections remain down 7.5 mmt y/y while corn is up 6.7 mmt.
Russian 12.5% wheat FOB for late December fell $3 w/w to $229/t, while Poland reported sabotage on a key rail line used to send aid and weapons to Ukraine. Based on cumulative inspections so far this marketing year, wheat needs to maintain last year’s pace to meet USDA’s export forecast, soybeans need to accelerate, and corn could afford to slow.
Freight
Freight Recap:
20/11/25
Nov 20, 2025
The dry bulk market showed a steady but uneven performance, with Handysize activity quiet, Supramax maintaining a firm underlying tone, and Panamax supported by stronger fundamentals in both basins. The Atlantic remained broadly stable, supported by positional tightness in some regions, while the Pacific held steady despite lighter fixing. Period and voyage activity continued across segments, reflecting balanced supply and demand dynamics.
