Weekly Freight Recap: 30/10/25

Overview

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.

Handysize

The Handysize market continued its downward slide through the week, with sentiment weakening across both North and South Atlantic routes. The North Atlantic saw a noticeable accumulation of spot tonnage amid declining demand, particularly out of the US East Coast and Baltic. In the South Atlantic, lack of fresh stems and subdued grain volumes kept rates on the defensive, while owners struggled to find cover for prompt positions. Across the basin, both supply and sentiment leaned bearish, with little to indicate a near-term rebound.

Pacific: The Pacific basin remained relatively flat but directionless. Stable demand from Southeast Asia failed to offset weaker activity elsewhere, particularly from the northern Pacific and Australia. Chinese demand remained steady but insufficient to lift overall sentiment. Owners reported limited fixture opportunities, with rates holding broadly steady at lower levels amid low volatility. With minimal period interest and cautious chartering activity, the Pacific Handysize market ended the week subdued and uncertain, mirroring the broader softening tone across the dry bulk complex.

Supramax

Atlantic: The Supramax segment remained under pressure in the Atlantic as sentiment continued to erode. The US Gulf again suffered from scarce fresh enquiry and a build-up of prompt tonnage, pushing rates lower. Even though some brokers suggested the trans-Atlantic run might be nearing a floor, fixtures were limited and confidence fragile. The South Atlantic was similarly lacklustre, with reduced grain demand and little impetus for recovery. Overall, the basin reflected a subdued tone with both owners and charterers reluctant to test new levels until a clearer direction emerges.

Pacific: In the Pacific, market momentum also faded as the week progressed. Earlier optimism stemming from northern employment was short-lived, with activity in Indonesia and Southeast Asia slowing markedly. Enquiry from China softened, and a growing list of open tonnage in the region exerted further pressure on sentiment. The market appeared to lose direction, with owners conceding to lower levels to secure employment amid weak competition for limited cargoes. Across both hemispheres, the Supramax market closed the week on a negative note, reflecting a pervasive cautiousness and limited appetite for period coverage.

Panamax

Atlantic: The Panamax market saw further correction in the Atlantic as trans-Atlantic demand from the US Gulf and North Atlantic weakened considerably. Despite early talk of renewed cargo activity, the basin lost traction toward week’s end as tonnage availability grew and charterers adopted a wait-and-see stance. Fronthaul demand from the Americas remained subdued, while South American loading programs offered little support with minimal fresh inquiry. The lack of momentum, combined with limited period interest and muted sentiment from the paper market, contributed to growing caution among owners. Overall, the Atlantic Panamax sector showed clear signs of a market under pressure, with the recent firmness now dissipating.

Pacific: In the Pacific, activity started reasonably but tailed off as the week progressed. Charterers displayed little urgency to cover tonnage amid an increasing list of available vessels and few fresh stems. Australian and NoPac cargoes provided limited relief, but overall enquiry levels were too thin to sustain rates. Owners began trimming offers to stay competitive, signaling a softer tone across the region. With little to no positive influence from the South American market or FFA sentiment, confidence weakened further, leaving the basin directionless. The Pacific Panamax market now appears finely balanced but vulnerable to additional downside if demand does not pick up soon.