Πεμ07182024

Last updateΠεμ, 18 Ιουλ 2024 7pm

News in English

Container shipping rates are soaring

box trader 1Container shipping rates are soaring, nearing record highs from the pandemic era as the Baltic FBX index is at USD 3,408 / TEU, closing down to the January 2020 levels and 150% higher than the last week of 2023.

BRIEF REPORT AND PREDICTIONS FOR NEXT WΕΕK FOR HANDY AND SUPRAMAX SIZES 24TH ΜΑΥ 2024

Bulk carrier 1HANDYSIZE

• USG / USEC – The market was quiet leading the rates to lower levels. Given that demand is stable and supply is building up, expect the market to remain under pressure during the following week.
• ECSA – The market was supported well by increased cargo flow. So the rates developed especially for TA trips. Worthy to notice that the north pressed more due to ballasters from USG. Expect the market to remain firm in the South and at lower levels in the North for the following week.
• CONTI – The absence of any activity on the continent pressed the rates. Furthermore, supply of capacity increased and owns had to decrease their ideas in order to find a suitable biz. Wait for the market to maintain this trend for the next week.
• MED – Limited demand couldn’t absorb all the available vessels. So the sentiment remained negative and the fixtures that were noted were below than last done. Expect the market to remain the same during the next week.
• MEG / INDIA – Market was firm. Fresh requirements were limited although prompt tonnage decreased enough to see better rates in the market. Not many changes should be expected for the next week proceeding to the monsoon season.
• SEASIA / FEAST – A short cargo list wasn’t enough to change the firm sentiment in the market. In general, there was balance between supply and demand supporting the market. Predictions are positive for the next week, especially for the bigger sizes of the section.

SUPRAMAX

• ECSA – Long tonnage list dropped the market levels. At the end of the week a decrease in the supply stopped further losses but need more cargoes to see any development for next week.
• USG – The week started with strong competition between owners which let the charterers to reduce their ideas for all destinations. Furthermore, Panama Canal decreased any delays adding supply and pressure to the market. So don’t expect any positive changes in the market soon.
• CONTI – Few and scarce cargoes moved the market slowly. Furthermore, activity was low due to the significant spread between ideas of charterers’ and owners’. A push in demand is required to see any development for the following week.
• MED – Demand was firm although not enough to occupy all this tonnage volume. So, the charterers took advantage to drop the rates lower. A further drop should be anticipated for next week unless there is a development on cargo flow.
• MEG / INDIA – Action was weak, and market kept quiet. So, the rates moved downward. Expect the market to keep this trend for next week.
• SEASIA / FEAST – The market was flat as Indo, Aussie and NoPac were quiet. Although China was very active in the 2nd half of the week keeping the market at the same levels. Expect more cargoes for the beginning of June.

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

Marginal Losses in the Dry Bulk Cargo Market

bulk ships 000Iakovos (Jack) Archontakis
Commercial Director TMC MARITIME CO.

Dr. Fotios-Evangelos Karlis
Maritime Executive and Consultant

The dry bulk cargo market continued to show downward trends in the last week compared to the previous one, with single-digit declines in all sizes.

New Technologies and Soft Skills: Key Role for Shipping Decarbonization

0ΕΚΔΗΛΩΣΗ ΟΛΠ 26.04.2024The promotion of a safety mentality regarding the decarbonization of shipping requires the cultivation and development of soft skills, as well as the continuous training and retraining of employees in new technologies, according to the conclusions of a workshop organized by the Hellenic Marine Environment Protection Association (HELMEPA) in collaboration with Piraeus Port Authority (PPA), with great participation of employees and executives of the PPA and other Greek ports, as well as representatives of the wider maritime community.

Poseidon Marine Supplies is going further to get closer to every ship and its needs

0Poseidon Marine Supplies1Under the motto “Going further to get closer to you”, Poseidon Marine Supplies, the Greek company that since 1976 is supporting the safety of crews and the smooth operation of ships, by offering lifesaving and firefighting equipment inspection and ship supplying services, is ready to welcome the international shipping community at its Posidonia 2024 stand, from June 3 to 7, and celebrate the opening of the company's new service station in the port of Barcelona as well as the expansion of its international partnerships.

Pioneer cloud ERP solutions tailored to shipping by Fleetwork

0fleetworkFleetwork, a pioneer in cloud Enterprise Resource Planning (ERP) in Greece, will present its innovative solutions for fleet management to the global shipping community at the international shipping exhibition Posidonia 2024, to take place in June 3-7 2024 at the Athens Metropolitan Expo.

China's property crisis, a key driver of its economy

Bulk carrier 1China's property crisis, a key driver of its economy, is leading to drastic steps by the government.

Περισσότερα νέα

News In English

ΕΠΙΚΟΙΝΩΝΙΑ

Εγγραφή NewsLetter