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• 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