Weekly Freight Recap: 03/07/25

Panamax

The Panamax market held broadly steady this week, though signs of softening began to emerge toward the close, particularly in areas where prompt tonnage began to outpace fresh demand. Across the Atlantic, sentiment remained cautious as uncertainty over true market levels led to widening gaps between owners and charterers, particularly for forward cargoes off the Continent and East Coast South America. Fronthaul cargoes continued to underpin activity, but volumes need replenishing to sustain current rate stability. Further south, activity eased slightly, reflecting softer bids and more flexible owners.

In Asia, the market opened the week mixed but gradually softened as charterers gained confidence and owners began to face resistance, especially on forward dates. Australian coal remained a supportive factor, but elsewhere in the Pacific, activity quietened. Overall, the market felt delicately balanced, with replenishment of cargo volumes seen as critical to maintaining momentum in the weeks ahead.

Mid-week saw quiet conditions persist, with negative sentiment continuing in the east. Activity from the Atlantic remained limited, while rates reported from East Coast South America stayed largely flat. The BPI timecharter average posted a seventy-four dollar loss to publish at thirteen thousand four hundred twenty-four dollars. Period news included rumours of the Shandong Xin Ze, an eighty-two thousand one hundred twenty-five deadweight vessel built in 2025 for CJK 15/20 July, being placed on subjects by Reachy for period, although further details remained confidential.

Supramax

The Supramax market held firm despite a lack of significant fresh enquiry, with the Atlantic showing slightly more positivity, while Asia had a slower start and the Indian Ocean remained quiet. Sentiment in the Atlantic stayed broadly supportive, with brokers reporting stronger numbers being exchanged from both the U.S. Gulf and South America, which indicated renewed confidence. The Continent and Mediterranean remained finely balanced with limited fresh enquiry, partly due to many participants travelling for various shipping events.

In Asia, the market showed modest improvement as some sources pointed to an uptick in fresh enquiry alongside a reduction in prompt tonnage. Stronger rates were reported on certain routes, particularly those from South Africa. One Ultramax was reportedly fixed for delivery in Southeast Asia, a trip via Indonesia with redelivery East Coast India, at a rate of fourteen thousand dollars, though further details were not disclosed.

By the close of the day, the eleven-timecharter average had risen by one hundred sixty-eight dollars to finish at thirteen thousand thirty dollars.

Handysize

The Handysize market remained subdued, with limited reported activity. The BHSI held steady at six hundred thirty-two, while the seven-timecharter average slipped by seven dollars to close at eleven thousand three hundred sixty-eight dollars.

Across the Continent and Mediterranean, activity stayed muted and sentiment largely positional, with rates continuing to track previous fixtures. The U.S. Gulf maintained a soft tone, pressured by prompt tonnage and limited enquiry. In the South Atlantic, fixtures were concluded at levels close to last done, and some sources suggested that the ongoing lack of fresh demand could result in a potential drop in rates over the coming days.

From Asia, limited fresh information emerged. While there were indications that the tonnage count was ticking down slightly, the available cargo volume was not enough to meaningfully lift the market. As a result, rates continued to be recorded around last done levels. Among the few reported fixtures, the Lefkes, a thirty-three thousand three hundred ninety-eight deadweight vessel built in 2014, was placed on subjects for a trip delivery Rio Grande to redelivery Venezuela at nineteen thousand five hundred dollars by Orient, with further details remaining undisclosed.