PPA S.A.: Vibrant and engaging presence at Posidonia 2024

PPA S.A. once again showcases its vibrant and engaging presence at the prestigious Posidonia 2024 international shipping exhibition.

Franman at forefront of maritime industry innovation with slate of new strategic partnership agreements ahead of Posidonia 2024

Franman, a provider of a diversified range of equipment, parts, products and services to the maritime industry, has announced a series of strategic partnerships aimed at significantly upgrading its offering to clients worldwide.

POSIDONIA 2024 opens for business

In the presence of Greek Prime Minister Mr. Kyriakos Mitsotakis, Greek and international ministers, European officials and presidents of all major international shipping organisations, Posidonia 2024 was officially inaugurated during a ceremony held at the main conference hall of the Athens Metropolitan Expo.

IBIA hosts reception preceding Posidonia

IBIA - The International Bunker Industry Association hosted a distinguished reception in Athens, Greece, on Sunday, 2 June, at the Official Residence of the South African Embassy.

The first five months of 2024 have drawn to a close

The first five months of 2024 have drawn to a close, and activity in the bulker sale and purchase market has been significantly more active than in the tanker market.

BRIEF REPORT AND PREDICTIONS FOR NEXT WΕΕK FOR HANDY AND SUPRAMAX SIZES

HANDYSIZE

• USG / USEC – The market was dull for one more week with limited action. Furthermore, some owners considered ballasting to south. Expectations are negative for next week don’t wait more action in the area.
• ECSA – Market moved in two “speeds”. South was better than north although this pushed the owners to ask premium for coastal trips. Believe that market will improve a bit but thereafter will start going down again because of lack of cargoes from north. Therefore shall have more ballasters.
• CONTI – The absence of cargoes was obvious and owners were under pressure trying to find any biz for their vessels. Seemed that charterers held back adding more pressure to the rates. Expect market to keep this trend for the next week.
• MED – Weak cargo flow and strong competition between owners decreased the rates. Furthermore, due to this situation Black Sea didn’t offer any attractive premium.
Need increase on demand in order to see any development for the next week.
• MEG / INDIA – Market was under pressure due to the lack of fresh requirements. Although the limited capacity for the forthcoming week offers a cautious optimism apart from the monsoon season.
• SEASIA / FEAST – A short tonnage list and balanced north and supported the market and the rates. Furthermore the vessels that could call Aussie could get even better numbers. Expect market to remain firm for next week.

SUPRAMAX

• ECSA – Supply reduced and at the same time demand in the south increased. Although north was worse than south the positive effect pushed the rates for all the destinations. Sentiment is bullish for next week.
• USG – The week was active only during the midweek and only trips to Asia were quiet interesting. Forward supply is decreased although demand follows the same trend, so expect market to remain flat for the following week.
• CONTI – Market was quiet with limited demand. Supply built up and many vessels started to sail to the other side of the Atlantic. Not many changes to expect for next “Posidonia” week.
• MED – Demand increased although oversupply couldn’t let a positive change in the market, ratewise. Don’t expect any surprises before grain season in Black Sea.
• MEG / INDIA – Limited activity kept the levels low. Although more action was noted ex South Africa absorbing a small part of the supply. An increase on demand will push the market for next week.
• SEASIA / FEAST – The market started the week slowly, especially in the south, with few coal cargoes ex Indo and lower cargo flow ex Aussie. During the last days of the week a develop in the cargo list was noted changing slightly the trend. Expect more cargoes for the second half 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