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• USG/USEC: More vessels were noted in the market, although owners were more confident due to fresh cargoes that appeared at the beginning of the week, and they insisted on their ideas. As there are more available vessels than cargoes, expect the market to decrease next week.
• ECSA: The market dropped due to increased competition from larger sizes, such as Supramaxes. As there is a balance between supply and demand, expect the market to remain stable next week.
• CONTI: The market continued to be quiet with low fixture volume and weak demand. Expectations are not optimistic for next week, as we are in the middle of summer.
• MED: The market was notably uneventful, and tonnage built up. Furthermore, there wasn’t any support from Russia and Ukraine. Therefore, rates decreased, and there aren’t any signs of a quick recovery soon.
• MEG/INDIA: The market moved slowly due to the monsoons affecting port operations. Furthermore, MEG didn’t offer any attractive alternatives. Don’t expect any major changes next week.
• SEASIA/FEAST: Action in Australia wasn’t enough to improve rates as the absence of Seasia cargoes was obvious. In the northern region, the lack of trips to the Atlantic and ex NoPac further declined the rates. Slight losses are anticipated for the upcoming week.

SUPRAMAX

• ECSA: Supply was tight, although the lack of fresh demand pressed the rates further. Expect a healthier cargo flow for the second half of August.
• USG: The market was under pressure as tonnage built up due to ballasters from the other side of the Atlantic. Therefore, rates dropped in all directions. Expect the market to keep this trend next week.
• CONTI: The market moved slowly, and many owners considered ballasting to Brazil to find more attractive opportunities. It seems the market is in summer mode, so expect the same trend next week.
• MED: The absence of grain cargoes led to lower rates. Furthermore, reports on grain exports mention a decrease, so don’t expect any surprising positive changes soon.
• MEG/INDIA: The market moved sideways during the week as demand was low and supply was limited due to operational problems caused by the monsoons. Don’t expect any significant changes next week.
• SEASIA/FEAST: The absence of Indo coal and Aussie cargoes pressed the southern region. The same story in the north, as limited demand from ex NoPac and China couldn’t absorb the increasing tonnage list. Don’t expect any developments next week.

Best Regards,

Iakovos (Jack) Archontakis
TMC Commercial Director (as Agents only)

Disclaimer
This report and the information contained herein it is for general information only and does not constitute an investment advice