Weekly Freight Recap: 09/01/25
Jan 09, 2025
PANAMAX
Atlantic: 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.
Pacific: Weak sentiment dominated, with limited volumes ex-Indonesia and an oversupply of tonnage weighing on rates. NoPac grains and petcoke cargoes provided modest support, while Australian rounds lagged. Despite an uptick in activity ex-Australia, the tonnage list continued to outpace demand. Anticipation for February’s Brazilian soybean exports is building, but short-term prospects remain weak.
SUPRAMAX
Atlantic: Subdued activity across the Atlantic saw rates remain soft amid oversupply in the Continent-Mediterranean, South Atlantic, and US Gulf. While trans-Atlantic runs showed relative stability, limited fresh inquiries kept sentiment poor. The East Mediterranean also remained under pressure, with minimal signs of improvement ahead of the holidays.
Pacific: Limited demand from Indonesia and Australia, coupled with a long tonnage list, kept rates under pressure. Fixtures for trips from North China with steels and other cargoes reflected muted sentiment. Slight positional strength appeared in some cases, but overall, the market lacked momentum, and rates continued to drift lower.
HANDYSIZE Atlantic: The Continent and Mediterranean markets faced weak demand and a long tonnage list, with rates reflecting soft conditions. In the South Atlantic, pre-holiday coverage provided minor activity, but weak fundamentals persisted. The US Gulf also saw limited fresh fixing opportunities, contributing to an overall quiet market.
Pacific: Activity showed a slight uptick, but an oversupply of vessels weighed on rates. Charterers held back, forcing owners to reduce offers to secure fixtures. While some stability appeared in the cargo book, rates remained under pressure with no immediate signs of a rebound.
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.
