Weekly Freight Recap: 22/01/2026

Panamax

Atlantic: Atlantic: Panamax sentiment continued to improve through the week as demand steadily absorbed prompt tonnage and reduced charterers’ optionality. Trans-Atlantic activity firmed further, with owners increasingly confident and less inclined to chase employment, reflecting a tightening supply backdrop. Grain cargoes remained the primary driver of strength, consistently outperforming mineral alternatives and reinforcing a positive price bias. Fronthaul interest stayed supportive, encouraging owners to hold firm on ideas as charterers faced fewer competitive options. While some tonnage remains visible across the Continent and Mediterranean, the balance is clearly shifting, with owners showing patience and limited urgency to fix. This dynamic has translated into incremental upward pressure on rates and a more constructive negotiating environment as the market moves deeper into late winter.

Pacific: Pacific: In the Pacific, Panamax rates extended their recovery despite uneven commodity flows in certain sub-regions. Limited mineral demand was offset by broader sentiment gains, with Atlantic strength increasingly influencing Pacific pricing. Charterers were required to improve bids to secure modern tonnage, particularly on shorter-haul business, as owners weighed the option of repositioning toward stronger Atlantic opportunities. This competitive tension supported rate resilience and improved confidence. Fresh regional grain and round-voyage requirements added further momentum, helping to shorten spot lists and underpin firmer expectations. Overall, the Pacific market ended the week on a stronger footing, with sentiment aligned to gradual but sustained rate appreciation.

Supramax

Atlantic: Atlantic: The Supramax market in the Atlantic showed continued improvement, though with some regional divergence. The North Atlantic appeared to stabilize after recent gains, with indications that certain trade lanes may be approaching near-term resistance. Nevertheless, owners maintained a firm stance, supported by a healthy flow of enquiries and thinning tonnage lists. Further south, conditions remained more balanced, with adequate vessel supply keeping rate advances measured. Despite this, sentiment stayed constructive, as failed negotiations and repeat discussions signaled charterers’ growing difficulty in pushing numbers lower. Period interest also contributed to confidence, reinforcing expectations that the floor has moved higher.

Pacific: Pacific: In the Pacific, Supramax and Ultramax segments were notably busier, marking a clear improvement in weekly momentum. Cargo flow increased across several routes, tightening availability and giving owners greater leverage. Negotiations increasingly favored owners, with charterers often conceding to firmer, less flexible terms to secure prompt tonnage. While rate ideas still varied widely depending on route and cargo type, the gap between bids and offers narrowed as the week progressed. The market remained sensitive to fresh enquiry, but overall tone was firm, with participants increasingly confident that recent gains are sustainable provided activity holds.

Handysize

Atlantic: Atlantic: The Handysize market delivered mixed but generally positive signals across the Atlantic. Northern regions remained largely steady, with limited fixing activity keeping rates rangebound. In contrast, the South Atlantic continued to outperform, supported by consistent cargo demand and confident owner sentiment. Rates in this region edged higher as charterers faced fewer prompt options and owners tested improved levels. The US Gulf also showed positive undertones despite limited reported fixtures, with expectations gradually rising on both sides of the market. Overall, Atlantic Handysize sentiment leaned firm, particularly where cargo visibility was strongest.

Pacific: Pacific: In the Pacific, Handysize activity was quieter, though sentiment improved modestly toward the end of the week. While fixing volume remained limited, charterers showed greater willingness to meet owners’ ideas, reducing resistance seen earlier. This shift supported a more constructive outlook, even as the market awaited clearer demand signals. Owners remained cautious but optimistic, with confidence underpinned by broader strength in larger segments. The Pacific Handysize market closed the week stable to slightly firmer, with sentiment suggesting scope for improvement if enquiry levels increase.