Weekly Freight Recap: 27/02/25
Feb 27, 2025
PANAMAX Atlantic: The Panamax market faced downward pressure, with a lack of fresh inquiries in the North Atlantic and softer conditions in the South Atlantic. Tonnage availability increased due to reduced demand, particularly for fronthaul cargoes. Some owners sought to resist lower rates, but the overall sentiment remained weak, with limited fixtures reported.
Pacific: The Pacific market also softened as coal and grain volumes eased, while some cargoes shifted to larger vessels. Owners faced pressure to adjust offers downward, but charterers held back, expecting further corrections. Market activity remained subdued, with only a few fixtures emerging.
SUPRAMAX Atlantic: The Supramax market saw mixed conditions. The Mediterranean and Continent regions showed steady demand, while the US Gulf remained stable but lacked fresh momentum. The South Atlantic continued to balance between supply and demand, with owners trying to hold onto gains despite some downward pressure.
Pacific: The Pacific market remained firm, although sentiment appeared to be leveling off. Limited fresh inquiries in the Indian Ocean region kept rates stable, while Southeast Asia maintained healthy levels of demand. Period interest persisted, but confirmed fixtures were scarce.
HANDYSIZE Atlantic: The Handysize market maintained a steady pace, with the Continent and Mediterranean seeing gradual improvements. The South Atlantic remained active, although bid-offer spreads were flat. The US Gulf held stable, with market fundamentals unchanged from previous levels.
Pacific: The Pacific market showed mixed signals. While demand in North Asia slightly weakened, Southeast China experienced a modest rise in tonnage availability. Some fixtures were concluded at stable levels, but overall sentiment remained uncertain.
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.
