Weekly Freight Recap: 24/04/25
Apr 24, 2025
PANAMAX Atlantic: The Atlantic market reopened from the Easter break with a cautious tone. Tonnage remained tight off the Continent, helping stabilize sentiment in the north, while the South Atlantic appeared steady, particularly for early index window arrivals. However, with grain exports expected to ease soon, expectations remain muted and activity remains largely positional.
Pacific: In the Pacific, the market firmed slightly, supported by mineral demand out of East Australia, though activity remained slow overall. Grain shipments from the North Pacific were limited, and while more vessels are heading toward Indonesia, high stock levels in China are capping any major upside. Sentiment held, but confidence remains fragile.
SUPRAMAX Atlantic: The Atlantic saw limited activity following the Easter period, with sentiment subdued and participants largely on standby. The Continent and Mediterranean lacked fresh cargoes, and tonnage lists began to lengthen. The US Gulf remained quiet, reflecting a general lack of momentum across the basin.
Pacific: Asia presented a slightly more active landscape, with renewed coal demand from Indonesia helping to support rates. While not yet enough to significantly shift the balance, owners were more confident in holding their levels. The Indian Ocean and Southeast Asia also showed stable interest, keeping sentiment modestly positive.
HANDYSIZE Atlantic: A quiet start in the Atlantic, with both the Continent and South America showing stable fundamentals but minimal fresh activity. The US Gulf also remained slow, and while some fixtures were noted, overall sentiment remained flat with no significant rate changes.
Pacific: The Pacific market stayed under pressure amid a lack of fresh demand. Southeast Asia and the North Pacific saw limited enquiry, keeping the market soft. With little to shift the current outlook, rates continued to trend slightly lower.
Weekly Recaps
Freight
Freight Recap:
11/12/25
Dec 11, 2025
The dry bulk market saw a softer overall tone, with Handysize holding largely flat, Supramax weakening across both basins, and Panamax continuing its decline despite some localized Atlantic support. Activity levels remained muted in many regions, with owners increasingly seeking cover ahead of the holiday period. The Atlantic showed mixed signals across segments, while the Pacific faced longer tonnage lists and weaker demand, keeping pressure on rates.
Commodities
Agri- Commodities:
01-05/12/25 Agri
Dec 08, 2025
USDA announced no new flash sales, disappointing soybean markets. Weekly export sales remain delayed and have not yet reached the period covering the US–China trade deal, leaving the true pace of buying uncertain. CBOT corn and wheat eased, while March MATIF wheat posted small gains after finding support at intraday contract lows. ABARES raised Australia’s 2025/26 wheat, barley, and canola output, though the increases were broadly in line with expectations. Algeria’s OAIC issued a soft wheat tender for February shipment, and Russian wheat prices slipped again, with 12.5% FOB for January at $227/t.
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.
