Weekly Freight Recap: 06/02/25
Feb 06, 2025
PANAMAX Atlantic: Strong demand from South America pushed rates higher, with fronthaul routes tightening tonnage. The market remained firm for February-March arrivals, though long-term gains may be capped by weaker coal demand and slower economic growth.
Pacific: Steady grain shipments from North Pacific and improved coal and mineral volumes from Indonesia supported rates. Market sentiment remained positive, but sustained strength will depend on consistent cargo flows.
SUPRAMAX Atlantic: The market showed signs of recovery, particularly in the U.S. Gulf and South Atlantic. More cargo emerged, but the Continent-Mediterranean remained weak and needed fresh demand to push rates higher.
Pacific: Rates improved post-Lunar New Year, with increased activity in the Indian Ocean and Southeast Asia. Period interest picked up, especially in the Supra/Ultra segments, keeping sentiment positive.
HANDYSIZE Atlantic: The West Mediterranean showed improved cargo flow, while the East remained sluggish. The U.S. Gulf market stayed stable, and the South Atlantic saw some positional gains but remained flat overall.
Pacific: The North China market saw tight tonnage, leading to stronger bids. Southeast Asia showed more activity, though some routes lacked fresh cargo. Overall, market sentiment improved slightly.
Weekly Recaps
Commodities
Agri- Commodities:
10-14/3/25 AGRI
Mar 17, 2025
U.S. wheat futures opened the week on a strong note, led by Kansas wheat, as traders reacted to deteriorating crop conditions in key HRW states. The rally coincided with Algeria’s milling wheat tender, though MATIF wheat showed a more hesitant response. Meanwhile, soybeans faced pressure as China’s tariffs on U.S. agricultural goods took effect. Export inspections indicated solid corn shipments but disappointing wheat figures. India projected record wheat production at 115.3 million metric tons, signaling ample supply ahead.
Freight
Freight Recap:
13/03/25
Mar 13, 2025
The Panamax market saw further gains, supported by increased Atlantic activity, particularly in trans-Atlantic business from the U.S. Fresh cargo flows and tightening vessel availability contributed to sizable rate improvements. In South America, activity picked up for March and April positions, reinforcing positive sentiment. Owners met improved bids with some resistance, further bolstering rates. While uncertainty persists regarding U.S. trade policy impacts, the expected second grain wave from ECSA added to market optimism.
Commodities
Agri- Commodities:
3-7/3/25 AGRI
Mar 11, 2025
The week opened with a continuation of last week’s bearish trend, as grain markets faced significant headwinds. Wheat was particularly weak due to an upward revision in Australia’s crop estimate. Market sentiment deteriorated further on confirmation that the U.S. has implemented tariffs on China, Mexico, and Canada—25% on Canada and Mexico, and 20% on China. In response, China imposed retaliatory tariffs of 15% on key U.S. agricultural imports, including wheat, corn, and soybeans, effective March 10. Canada followed with 25% tariffs on U.S. goods worth $155 billion. Meanwhile, Russian wheat prices declined by $3 per ton to $248 FOB, adding to the bearish tone. Australian production estimates surged, with wheat up to 34.1 MMT (+31% y/y) and barley to 13.3 MMT (+23% y/y). Weekly U.S. export inspections showed solid corn movement at 1.35 MMT, while the USDA confirmed a 114k-ton corn sale to Mexico.
