Weekly Freight Recap: 11/09/25
Sep 11, 2025
Weekly Dry Bulk Recap
Dry bulk sentiment remained broadly positive this week, led by further gains in the Panamax sector as tight tonnage and resilient demand supported higher returns across both basins. Supramax rates also advanced, with the Atlantic maintaining firm momentum despite softer undertones in parts of Asia. The Handysize market recorded modest improvements, though performance varied by region, leaving overall sentiment steady with a cautiously constructive bias.
Panamax
Atlantic: The Atlantic Panamax market extended its upward run, supported by constrained tonnage lists and healthy mineral and grain demand from the US East Coast, Colombia, and Baltic regions. ECSA sentiment was steadier, with October requirements providing a floor to values, though some participants sensed a softer undertone on forward dates. Owners maintained a stronger negotiating position, resisting discounts and holding firm on ideas. Overall, sentiment remained bullish, with fundamentals supporting further strength if October cargo flows materialize as expected.
Pacific: In the Pacific, the tone was similarly upbeat as fresh enquiry from North Pacific and Australian load areas combined with consistent Indonesian coal demand to bolster sentiment. Rates improved steadily through the week, with charterers competing to secure prompt cover and owners retaining the upper hand. Southern tonnage remained tight, adding to the upward pressure. Despite some bid resistance, the overall balance favored owners, and sentiment stayed constructive into the close.
The BPI timecharter average advanced by $467 across the week, finishing at $17,778. Period activity also remained supportive, with steady appetite for short- to medium-term cover reflecting confidence in Q4 demand.
Supramax
Atlantic: The Supramax market displayed steady strength across most Atlantic regions. The US Gulf remained firm on consistent cargo flow, with owners achieving improved returns. In the South Atlantic, a tighter tonnage list and healthy enquiry supported firmer sentiment, leaving charterers with fewer options and encouraging higher bids. The Continent–Mediterranean was more balanced, with limited fresh enquiry restraining upward movement, though levels generally held ground.
Pacific: By contrast, the Pacific Supramax market was less decisive. Northern areas showed some stability on periodic bursts of demand, but southern regions were softer, with limited enquiry weighing on sentiment. Owners attempted to resist concessions, yet oversupply in certain load areas capped earnings. The 11TC average posted a modest $59 gain, closing the week at $18,677.
Handysize
Atlantic: The Handysize market held a mixed tone. The Continent and Mediterranean saw only minor upward adjustments, with sentiment steady but lacking fresh impetus. The South Atlantic, however, maintained positive momentum, underpinned by consistent demand and manageable tonnage availability. The US Gulf slowed, with weaker cargo volumes leading to softer returns for prompt positions.
Pacific: In Asia, activity remained thin but sentiment broadly steady. Owners held rates firm despite limited fixing opportunities, with market balance maintained across northern and southern load areas. While not dynamic, the region avoided downward pressure, leaving the segment supported on a cautious footing.
The BHSI gained six points to reach 798, with the 7TC average up $112 at $14,364.
Weekly Recaps
Freight
Freight Recap:
6/11/25
Nov 06, 2025
The dry bulk market experienced a generally softer tone this week, with most segments facing mild corrections. The Handysize and Supramax sectors saw limited fresh activity, while the Panamax market showed brief midweek stability before continuing its downward trajectory. Weak demand across basins and growing vessel availability placed pressure on rates, though select regional improvements offered some support.
Commodities
Agri- Commodities:
27-31/10/25 Agri
Nov 03, 2025
Grain markets opened the week firmer after upbeat headlines on a potential U.S.–China trade deal lifted risk appetite across commodities. The optimism came despite limited clarity on agricultural commitments and lingering pressure from weaker export data.
Russian wheat prices were slightly lower, while EU maize yields were trimmed further. In Argentina, the peso strengthened after President Javier Milei’s party secured a midterm victory. U.S. harvest progress advanced, though export inspections remained subdued.
Freight
Freight Recap:
30/10/25
Oct 30, 2025
Freight markets continued to ease across the board this week, with Panamax, Supramax, and Handysize segments all facing renewed pressure. Sentiment turned cautious as limited fresh demand and increasing tonnage lists in both basins weighed on rates, suggesting that the short-lived rally in mid-October may have topped out.
Commodities
Agri- Commodities:
20-24/10/25 Agri
Oct 27, 2025
Grain markets experienced a volatile but directionally mixed week, driven by optimism surrounding renewed US–China trade talks, fluctuating macro sentiment, and shifting global production estimates. Soybeans led early in the week, supported by trade optimism and strong export inspections, while wheat and corn were more restrained, pressured by abundant supply outlooks and mixed demand signals.
Monday began on a firm note, particularly for soybeans, which rallied sharply on upbeat remarks from President Trump about a potential trade deal with China. The oilseed market gained double digits amid rising hopes of resumed Chinese purchases. Wheat and corn, by contrast, traded mixed, with bearish pressure from improved Russian and Australian wheat crop outlooks limiting upside. IKAR raised Russia’s 2025 wheat forecast to 88.0 mmt and Australia’s harvest was seen near 36 mmt—its third largest on record. Still, lower prices encouraged demand, with Algeria issuing a December wheat tender.
