Weekly Freight Recap: 13/03/25

PANAMAX Atlantic: 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.

Pacific: The Pacific market, though less bullish than the Atlantic, continued to rally. NoPac demand remained stable, and Indonesian shipments to India provided additional support. Australian coal cargoes also contributed to positive sentiment, encouraging owners to stay local rather than ballast to the Atlantic. Period activity remained firm, with multiple fixtures reported at healthy levels. With April premiums inflating in the South, the near-term outlook remains positive, though momentum will largely depend on sustained grain flows from ECSA and stable Pacific cargo demand.

SUPRAMAX Atlantic: The Supramax market experienced limited fresh enquiry, with a balanced South Atlantic and a slow-moving North Atlantic. While some improvements were noted in the U.S. Gulf, owners faced continued resistance from charterers. South Africa remained firm as ballasters were absorbed for ECSA rounds, driven by ample cargo availability for late March and early April. The overall market maintained a cautious tone, with only slight fluctuations in the 11TC average.

Pacific: Market sentiment remained uncertain due to fluctuating Indonesian coal prices and an abundant supply of prompt tonnage. However, signs of a potential floor emerged, with owners hardening their expectations. Some stronger fixtures were reported, including trips from South Kalimantan and East Kalimantan, suggesting isolated improvements. Period activity was limited, and rates continued to move sideways overall, with brokers maintaining a positional stance in anticipation of potential demand shifts.

HANDYSIZE Atlantic: The Handy market remained relatively quiet, though the Continent and Mediterranean regions provided some support with a slight uptick in rates. The South Atlantic and U.S. Gulf markets, however, saw minimal movement, with rates remaining stable. Few fresh inquiries were reported, keeping overall sentiment muted.

Pacific: Activity in the Pacific was subdued, though sentiment stayed slightly positive. The region maintained stability, with minor rate increases in some areas. A few fixtures emerged, including trips from Samalaju and Adelaide, but overall movement remained limited. The period market saw some engagement, with a Rotterdam-based vessel securing a six-to-eight-month deal at a modest premium to the BHSI. Despite the slow pace, steady fundamentals in the region helped maintain cautious optimism.