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:
6-10/1 /25 AGRI
Jan 13, 2025
Monday: Grain markets rebounded from Friday's losses, bolstered by a weaker dollar and pre-USDA report positioning. CBOT-denominated prices gained, though MATIF milling wheat remained an outlier. U.S. weekly export inspections showed mixed results, with wheat exceeding expectations while corn and soybeans remained within range. In Argentina, persistent hot and dry conditions continued to pose risks, while Brazil benefited from favorable weather. Kansas winter wheat conditions declined, adding concerns over the domestic crop.
Freight
Freight Recap:
09/01/25
Dec 12, 2024
The Atlantic market began with initial strength due to limited New Year tonnage, but rates flattened as more vessels entered the region. In the south, oversupply led to discounted rates, and forward fixing remained cautious. Spot vessels maintained premiums, but lack of fresh demand in the north and a long tonnage list saw rates ease, favoring charterers. EC South America faced additional pressure from long ballast lists and sub-index equivalent fixtures for early February.
Commodities
Agri- Commodities:
9-13/12 /24 AGRI
Dec 16, 2024
Monday: US wheat futures began the week on a positive note but struggled to maintain gains as MATIF wheat remained unresponsive. Corn saw slight upward movement, while soybeans softened ahead of Tuesday’s USDA report. The Russian wheat market showed resilience, with FOB prices for 12.5% protein wheat climbing to $228/ton, up $2 from the previous week. Concerns about the poor condition of Russian winter grains were tempered by IKAR analysts suggesting the reality may be less dire. Meanwhile, China’s Politburo announced aggressive economic stimulus measures, signaling a shift in fiscal and monetary policies, but these had minimal impact on grains. U.S. export inspections highlighted weak performance in wheat, with only 227k tons inspected, significantly below the previous week’s 299k tons.
Freight
Freight Recap:
19/12/24
Dec 12, 2024
Panamax transatlantic activity saw a modest boost as charterers sought coverage ahead of the holiday season, but an oversupply of tonnage in the East Mediterranean kept pressure on rates. Fronthaul routes remained lackluster due to weak demand from the Black Sea and continued ballasting toward Gibraltar, leaving the market constrained.
