Brief report and predictions for next week for handy and supramax sizes 19TH April 2024

HANDYSIZE

• USG / USEC – Market recovered due to fresh requirements for the second half of the month, the majority of them were used for shipments to Mediterranean & Continent. According to the current equilibrium of supply-demand expect market to keep the upward trend for the following week.
• ECSA – A push on demand led the rates to higher levels. Although this increase was followed by healthy supply interrupting further developments. Expect market to remain stabilized during the upcoming week.
• CONTI – Demand and Supply were balanced so market kept the same levels ratewise. Cargo flow is low although tonnage list is short as well, so expect market to proceed without any significant changes for next week.
• MED – Market was active with many discussions at the same or higher levels than last week. The reason of this upward trend were grain cargoes. Predictions are firm for the following week.
• MEG / INDIA – Cargo list was short and couldn’t match the increasing supply. Wait market to remain under pressure during the following week.
• SEASIA / FEAST – The lack of tonnages and cargoes kept the market flat. Aussie supported south and many vessels were fixed, much easier than in the north. Need a push on demand in order to see any development for next week.

SUPRAMAX

• ECSA – Active beginning of the week, absorbing many of the available vessels. The rest of the week moved in the same way so the rates raised. Expect further developments for next week.
• USG – Market had a slow start of the week as there was limited activity. In the mid-week market increased as there were many options for the owners ex East Coast. Sentiment is firm for next week. Moreover, the delays in the Panama canal are decreasing, so expect a development of the supply, keeping the rates at the same levels for next week.
• CONTI –The week started with limited action and the only interest came from scrap cargoes. Any developments are expected so wait a relatively flat market for next week.
• MED – Market moved slowly in the first half of the week but the second half was better as there were more options for the owners. So the week ended with a bullish sentiment and expect the same for the start of next week.
• MEG / INDIA – Demand improved slightly pushing the rates above the previous levels. Need an improvement in the demand in order to keep the upward trend for next week.
• SEASIA / FEAST – Healthy cargo flow in the north and south supported the market and the rates. Owners could choose between various options ie coal, steels and bulk cargoes. Keeping the cargo volume stable will improve the rates further for 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

Dry bulk cargo market continued positively

Iakovos (Jack) Archontakis
Commercial Director TMC MARITIME CO.

Dr. Fotios-Evangelos Karlis
Maritime Executive and Consultant

The dry bulk cargo market continued its upward trend, with a double-digit weekly increase for the largest sizes and a single-digit increase for the smallest.

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