Weekly Freight Recap: 19/12/24
Dec 19, 2024
PANAMAX
Atlantic: 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.
Pacific: Minimal fresh cargo and a surplus of vessels dominated the Pacific, with owners facing pressure to accept increasingly lower rates. While some optimism exists for early next year with expected Brazilian soybean exports, current sentiment remains weak, and the market shows no signs of stabilizing in the short term.
SUPRAMAX
Atlantic: Limited fresh demand across the Continent and Mediterranean left rates subdued, with the US Gulf providing some stability but no significant improvement. The South Atlantic showed positional strength, with some fixtures benefiting from tightening availability, though overall fundamentals remain weak ahead of the holidays.
Pacific: While activity in the region showed a slight uptick, rates stayed under pressure as tonnage continued to outweigh demand. Coal cargoes from Indonesia offered steady flow, but overall, market sentiment remained muted, with little expectation of a recovery before year-end.
HANDYSIZE Atlantic: The Continent and Mediterranean markets remained soft, with declining rates reflecting scarce demand and a long tonnage list. In the South Atlantic, weak fundamentals persisted despite some pre-holiday coverage, while the US Gulf remained quiet with limited fresh fixing opportunities.
Pacific: A stable cargo book failed to offset the growing tonnage count, leading owners to offer aggressively to secure fixtures. Charterers continued to hold back, resulting in minimal activity and little prospect of a rebound in the near term.
Weekly Recaps
Freight
Freight Recap:
03/07/25
Jul 03, 2025
The Panamax market held broadly steady this week, though signs of softening began to emerge toward the close, particularly in areas where prompt tonnage began to outpace fresh demand. Across the Atlantic, sentiment remained mixed.
Commodities
Agri- Commodities:
23–27/06/25 Agri
Jun 30, 2025
The week opened with a sharp pullback across grain markets as the geopolitical risk premium evaporated following U.S. President Trump’s announcement of a ceasefire between Iran and Israel. While the truce remained fragile—lacking official confirmation from Israel—market sentiment quickly pivoted back to fundamentals. Pressure mounted as U.S. crop conditions were mixed and EU wheat yield projections were revised higher, particularly in southern and eastern Europe. U.S. export inspections provided little optimism, with soybeans and wheat underperforming, and fund positioning indicated heavy corn selling alongside increased soybean buying.
Freight
Freight Recap:
26/06/25
Jun 19, 2025
The Panamax market continued to show resilience this week, holding around the USD 12,800/day level on the 5TC index. Gains were seen across both basins, driven by steady demand and tightening tonnage in key loading areas.
Commodities
Agri- Commodities:
16–20/06/25 Agri
Jun 23, 2025
Monday opened with wheat and corn giving back gains from the prior session, pressured by generally favorable U.S. crop outlooks. Corn conditions improved to 72% good-to-excellent (G/E), aligning with last year’s level, while soybean ratings declined to 66% G/E. Winter wheat condition unexpectedly slipped, and harvest progress remained significantly delayed. Export inspections showed continued strength for corn, while soybean oil surged on tighter-than-expected NOPA stocks. Geopolitics hovered in the background as Iran signaled a desire to avoid escalation with Israel, while Turkey offered to mediate talks.
