Weekly Freight Recap: 13/02/25
Feb 13, 2025
PANAMAX Atlantic: The market remained under pressure with weak demand and an oversupply of tonnage, particularly in the North Atlantic. Limited fresh cargo made it difficult for owners to secure strong rates, with charterers holding the upper hand in negotiations. In the South Atlantic, sentiment remained negative, with further corrections for forward positions, particularly for vessels ballasting to East Coast South America.
Pacific: The Pacific market showed some stability, supported by consistent demand from NoPac and Australia. However, overall sentiment was cautious, and rates remained under pressure amid broader market uncertainties. There was some improvement in Indonesian coal activity, which helped absorb tonnage, but fundamentals remained largely unchanged.
SUPRAMAX Atlantic: The Atlantic market maintained positive momentum, with increasing interest in the US Gulf and stronger sentiment in the South Atlantic. However, fixing details were limited, and while the US Gulf remained firm, there were signs it might be leveling off. The Continent and Mediterranean markets remained balanced, with stable demand.
Pacific: The Asian market saw fresh activity, particularly in coal cargoes from Indonesia to India and China. Owners were able to push for slightly stronger rates as demand remained steady. The Indian Ocean remained positional, with some securing improved levels. Period interest increased, reflecting growing confidence in the market.
HANDYSIZE Atlantic: The Atlantic market maintained positive momentum, with increasing interest in the US Gulf and stronger sentiment in the South Atlantic. However, fixing details were limited, and while the US Gulf remained firm, there were signs it might be leveling off. The Continent and Mediterranean markets remained balanced, with stable demand.
Pacific:The Asian market saw fresh activity, particularly in coal cargoes from Indonesia to India and China. Owners were able to push for slightly stronger rates as demand remained steady. The Indian Ocean remained positional, with some securing improved levels. Period interest increased, reflecting growing confidence in the market.
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.
