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
Freight
Freight Recap:
04/12/25
Dec 04, 2025
The dry bulk market saw a generally mixed performance, with Handysize remaining supported in the Atlantic, Supramax showing uneven movement across regions, and Panamax continuing its correction as rising vessel supply weighed on sentiment. Atlantic dynamics were split between firmer US Gulf/US East Coast activity in the smaller segments and softer conditions for Panamax. In the Pacific, muted enquiry and longer lists contributed to a softer tone, especially in NoPac, though isolated strength persisted in Australian coal.
Commodities
Agri- Commodities:
24-28/11/25 Agri
Dec 01, 2025
Wheat opened the week lower after Saudi Arabia’s tender came in sharply priced, while soybeans and corn also finished slightly weaker. Market reaction to the Trump–Xi call remained muted, particularly for soybeans, where repeated political signals have not delivered the expected demand. Saudi Arabia’s GFSA bought 300k tons of wheat for March–April arrival at $257.96–$259.74/t CnF, roughly $5–$5.50 below the previous tender, with February slots skipped. Russian 12.5% protein wheat eased by $1 to $228/t FOB according to IKAR, and MARS reported that winter-cereal sowing in Europe is largely complete under mostly favorable conditions. US winter wheat conditions improved to 48% good/excellent, two points above the five-year average.
USDA confirmed private sales of 123k tons of US soybeans to China, bringing known 25/26 sales to 1.94 mmt, with an additional 0.62 mmt sold to “unknown” since October. Weekly US export inspections showed 799k tons of soybeans, 1,632k tons of corn, and 475k tons of wheat. No soybeans were shipped to China, leaving total inspections well behind last year’s levels.
Freight
Freight Recap:
27/11/25
Nov 27, 2025
The dry bulk market showed a mostly subdued performance, with Handysize and Supramax sentiment remaining soft across both basins and Panamax maintaining a firm, steady tone driven by continued grain activity. The Atlantic saw mixed conditions, with smaller segments facing limited enquiry while Panamax benefitted from solid U.S. Gulf and East Coast support. In the Pacific, Handy/Supra sectors stayed muted, whereas Panamax demand from Indonesia and Japan kept momentum intact despite some easing in Chinese interest.
Commodities
Agri- Commodities:
17-21/11/25 Agri
Nov 24, 2025
The rebound in soybeans and Chicago wheat was even more impressive than Friday’s plunge, driven this time by actual Chinese purchases rather than political promises. US wheat rallied alongside soybeans on talk of Chinese demand, though without confirmation that wheat was included, while MATIF wheat lagged despite a weaker EUR/USD. USDA corrected Friday’s missing flash sales by trimming US soybean sales to China by 100k tons, yet sentiment stayed upbeat on reports that China bought at least 14 US cargoes. NOPA reported a record October crush of 227.65 mbu, suggesting stronger domestic use may offset some export weakness. Weekly inspections showed soybeans at 1,176k tons, corn at 2,054k tons, and wheat at 247k tons; cumulative soybean inspections remain down 7.5 mmt y/y while corn is up 6.7 mmt.
Russian 12.5% wheat FOB for late December fell $3 w/w to $229/t, while Poland reported sabotage on a key rail line used to send aid and weapons to Ukraine. Based on cumulative inspections so far this marketing year, wheat needs to maintain last year’s pace to meet USDA’s export forecast, soybeans need to accelerate, and corn could afford to slow.
