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Freight rates from the Black Sea region have been on a steady decline since September 2023, moving well below levels before the full-scale Russia-Ukraine war, sources told Fastmarkets.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean rose in the week to Wednesday February 5, as gains in demand for ships from China and in Brazil helped support the market after the Lunar New Year.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean fell to multi-year lows in the week to Wednesday January 29, as the Lunar New Year holidays further weakened the market.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean eased again in the week to Wednesday January 22, while a long tonnage list and sluggish exports continued to weigh on costs.
Freight sentiment for vessels carrying palm oil cargoes within Asia remained tepid in the week to Wednesday January 22 on still soft export demand, sources told Fastmarkets.
Yemen’s Houthi movement said on Monday January 20 that they will end attacks on non-Israeli shipping in the Red Sea, but, according to experts, it is unclear whether or how quickly rerouted vessels will return to the region.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean eased again in the week to Wednesday January 15, as an increase in available tonnage weighed on rates.
Freight for vessels carrying palm oil cargoes within Asia was stable to down in the week to Wednesday January 15 on unchanged fundamentals.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean rose over the Christmas period into Wednesday January 8.
Freight sentiment for vessels carrying palm oil cargoes within Asia softened in the week to Wednesday January 8 on weaker demand from palm oil charterers and abundant tonnage.
With the freight market looking ahead to 2025, the issues posed by a Trump presidency, a potential slowing of global trade and new climate policies have come into focus.
Freight rates for grain cargoes out of Ukraine have been falling since mid-October, and first time since the full-scale war started, have dropped below Russian rates into key African destinations, trade sources told Fastmarkets.
High palm oil stocks in key importing countries, relatively high prices of palm products versus other vegetable oils and uncertainty around European legislation all brought downward pressure to palm oil freight rates in 2024, as soft demand weighed on freight movements.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean fell in the week to Wednesday December 18, with slow exports continuing to weigh on rates.
Freight rates in the North and South Atlantic have dropped consistently since mid-October and are down by almost 25% year on year. Several factors explain the dramatically weaker rates, including less cargo in the Atlantic, a lack of logistical issues and slower demand from China, Fastmarkets understands.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean recovered slightly in the week to Wednesday December 11.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean remained at recent lows in the week to Wednesday December 4, with a lack of export cargoes and high tonnages continuing to hold rates down, Fastmarkets has heard.
Freight rates for vessels carrying palm oil cargoes within Asia were flat in the week to Wednesday December 4, on unchanged fundamentals with demand from charterers still soft but shipowners still unwilling to lower rates.
Dry bulk freight rates for Panamax vessels in the Atlantic Ocean fell to new lows in the week to Wednesday November 27, with slow exports still not absorbing tonnage and weighing on rates.