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• USG / USEC – The market remained firm as there were some cargoes to cover. Although cargo flow is limited for next week, an increase in ballasters is expected.
• ECSA – The market was flat with a balance between supply and demand. A key factor for the future of the market is the draft of the Up River. If the draft is low, then Supramaxes will take advantage, otherwise, we will see cargo flow for bigger handies. The market is expected to proceed without any significant changes for next week.
• CONTI – The market improved, although activity was low, but there were still some cargoes to cover. Many vessels stayed in the area, and more pressure is expected for the next week.
• MED – The market had a strong start to the week with an increase in demand and competition between charterers leading to higher rates. The predictions are positive for the next week.
• MEG/INDIA – A steady cargo flow of steels and fertilizers pushed the market, and it is expected to remain the same, so there is cautious optimism for next week.
• SEASIA/FEAST – The market was firm with steels ex-North in the driver's seat. Furthermore, trips to the South paid a premium, although there was some competition from SMXs-UMXs. The market is expected to maintain the upward trend for next week.

SUPRAMAX
• ECSA – The demand wasn't enough to absorb the long tonnage list, so the rates reduced. Only Trans-Atlantic (TA) trips could support the market during the first half of the week, but trips to Asia and the second half of the week were quiet. There is a bearish sentiment for next week.
• USG – The market was quiet, and only some short trips offered healthy numbers, limiting the drop in rates. The market is expected to remain at the same levels for the following week.
• CONTI – The market was uneventful with weak demand and a buildup of supply. Only trips to West Africa (WAFR) and the Mediterranean (Med) were paying better levels. A push on demand is needed to see any development in the following week.
• MED – The market noted a downward trend. Supply reduced, but there was a gap in demand for the beginning of next month. More grain cargoes are expected for the following weeks.
• MEG/INDIA – The market moved slowly with a limited cargo list. As a result, many owners preferred to go to South Africa (SAFR) looking for more attractive alternatives. Don't expect to see any positive surprises for next week.
• SEASIA/FEAST – The market started the week slowly but became more active day by day due to constant coal cargoes ex-Indonesia and steel cargoes ex-North. The same is expected for the following 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