Weekly Freight Recap: 22/01/2026
Jan 22, 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.
Weekly Recaps
Commodities
Agri- Commodities:
26-30/01/26 Agri
Feb 02, 2026
Prices started the week lower across the board, led by US wheat. Weather-risk fears that pushed prices higher late last week eased, as winterkill damage is historically difficult to evaluate and often fades quickly from focus. CBOT weakness came despite further USD softening, suggesting the prior rally had been stretched.
Freight
Freight Recap:
29/01/26
Jan 29, 2026
The market carried a more constructive tone this week, but it was still shaped by winter operating conditions and selective demand rather than broad-based strength. Weather disruption in the North Atlantic created short-lived tightness and pockets of spot demand, while the Pacific remained more subdued and generally unchanged. Overall, activity was steady, but charterers were more measured, and owners with prompt positions were less willing to chase cargo aggressively.
Commodities
Agri- Commodities:
19-23/01/26 Agri
Jan 26, 2026
With the U.S. on holiday, Paris futures traded on their own and were fairly muted despite a stronger EUR/USD and limited EU participation in recent North African tenders. The MATIF wheat H/K carry continued to shrink as U.S. markets reopened largely unchanged. Trump said he may slap a 200% tariff on French wine and champagne, while also reiterating his intent to take control of Greenland.
Freight
Freight Recap:
22/01/26
Jan 15, 2026
Dry bulk freight markets strengthened across all major segments this week, driven by firmer demand, tightening tonnage lists, and improving sentiment. Rates trended higher in both basins, with momentum most visible in mid-sized vessels and growing spillover support from the Atlantic into the Pacific.
