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Last updateΤετ, 13 Νοε 2024 8pm

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Brief report and predictions for next week for handy and supramax sizes 27TH September 2024

bulk ships 000

HANDYSIZE

• USG/USEC: The market experienced a softening of rates due to a long tonnage list and limited demand. Increased activity is anticipated next week as many participants return from the ASBA annual cargo conference (September 25-27). However, with the vessel-to-cargo ratio exceeding 2:1, expectations remain cautious.
• ECSA: The market saw a further decline as the supply-demand balance favored charterers. Strong competition among owners for the limited cargoes available resulted in lower rates. No positive outlook is expected for the coming week.
• CONTI: The market was quiet with minimal activity. Although supply was tight, demand was even lower, leading to a drop in rates. Notably, the situation was more favorable for larger vessels. An increase in cargoes from the Baltic is expected to improve rates next week.
• MED: The market remained flat with no significant changes. Despite an influx of new requirements, the supply of capacity prevented any upward movement in rates. With a short cargo list from the Black Sea, the outlook for next week remains neutral.
• MEG/INDIA: The market experienced another uneventful week with low demand pushing rates lower than the previous week. Similar conditions are expected next week, with more activity anticipated after the Golden Week in China.
• SEASIA/FEAST: The market exhibited mixed trends. The southern area remained soft, while the northern area saw some upward adjustments as charterers moved before the holidays. No significant action is expected as we approach the Chinese Golden Week (October 1-7).

ULTRAMAX

• ECSA: A lack of demand led to lower market levels. The long tonnage list further pressured rates. More cargoes are needed to absorb the available capacity and stabilize the market for the following week.
• USG: The market was active with increased demand, particularly for grain and petcoke cargoes, despite the ASBA conference. More action is expected next week.
• CONTI: The market faced pressure due to limited demand and a steady supply flow. Many owners are considering moving towards the West Med or USG. An increase in demand is needed to see any positive developments next week.
• MED: Increased supply kept the market subdued as cargo flow remained steady. Decreased activity in the Black Sea further worsened the market. The western region performed better than the eastern region. An increase in demand in the east could change the sentiment for the following week.
• MEG/INDIA: The market continued its downward trajectory from the previous week. Rates are expected to remain at the same levels for the following week.
• SEASIA/FEAST: Stable cargo flow to China in the southern area led to developed market levels. Increased activity for NOPAC and west trips was noted in the northern area. The market is expected to be calm during the Chinese Golden Week, October 1-7.

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

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