Weekly Freight Recap: 07/03/25
Mar 07, 2025
PANAMAX Atlantic: In the Atlantic, there were signs of a potential floor in some areas, but the overall sentiment remained flat. A two-tiered market seemed to be developing, with U.S. business commanding a premium over non-U.S. trades due to ongoing trade concerns. South America presented a mixed picture, as March cargoes continued to be discounted while April positions remained untested. Activity remained sluggish, particularly in the latter half of the month, as the growing supply of available vessels weighed on rates.
Pacific: The market struggled with persistent downward pressure. Limited grain demand and reports of canceled Indonesian shipments due to price volatility dampened sentiment. Australian coal cargoes provided some volume, but this was not enough to shift the broader trend. Fresh demand remained scarce, and rates continued to drift lower with little immediate upside expected.
SUPRAMAX Atlantic: In the Atlantic, the market showed little change, with the U.S. Gulf and South America remaining quiet. The Continent and Mediterranean regions also struggled to generate new activity. While some period fixtures were rumored, there was little fresh inquiry, and rates remained under pressure.
Pacific: The market saw some isolated fixtures, but overall demand remained subdued. Cargo availability was limited, and rates faced continued pressure. Some longer-term interest emerged, but this did little to shift the overall outlook, which remained cautious.
HANDYSIZE Atlantic: Activity remained slow, particularly in the U.S. Gulf and South America, where fresh inquiries were scarce. The Continent and Mediterranean regions showed little movement, and vessel availability continued to outpace demand, keeping rates under pressure.
Pacific: Conditions were more stable, with Southeast Asia showing some improvement. A more balanced demand-supply situation supported sentiment, and fixing levels in some areas improved compared to previous weeks. However, overall momentum remained limited, and market participants continued to take a cautious approach.
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.
