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• USG/USEC: The market saw further developments as owners insisted on their ideas. There was much action behind the scenes, reducing supply. Combined with a menu of fresh cargoes for August dates, the market is expected to remain firm next week.
• ECSA: The first half of the week was slow as charterers and owners were unwilling to commit. Midweek saw more action, and rates increased, especially for trips to the West Coast. Predictions are positive for the start of next week.
• CONTI: The market continued its negative course due to weak cargo flow. Given the current supply and demand relationship, the sentiment is bearish for next week.
• MED: The market was quiet, with only some fixtures at the end of the week stirring the calm waters. Additionally, the Black Sea did not offer any attractive alternatives to owners. This downward trend is expected to continue next week.
• MEG/INDIA: The market moved in two tiers. India was slow, especially the East Coast. However, the MEG was very active, with many fertilizer cargoes pushing the rates. There is cautious optimism for the following week.
• SEASIA/FEAST: In the southern area, the market ended the week on a positive note due to Indo trading. In the northern region, owners were not keen on considering backhaul trips, pushing the rates for these routes. No major changes are anticipated for the upcoming week.

SUPRAMAX

• ECSA: A lack of fresh demand, a buildup of supply, and competition from larger sizes (Panamaxes) pressed the market. A push in demand is needed to see any development next week.
• USG: Transatlantic trips led the market to higher levels. Furthermore, owners moving from the other side of the Atlantic preferred longer trips to Asia, making it difficult for charterers with shorter trips to find vessels. The firm end of the previous week leaves a positive sentiment for the start of the next week.
• CONTI: During the first half of the week, the majority of the cargoes were covered, leading to more pressure in the market and reduced rates by the end of the week. Additionally, charterers used their home tonnage. Sentiment for the following week is negative.
• MED: The lack of grain cargoes led to an increase in capacity availability and a drop in rates. Notably, there was developed interest in grains to Asia, and more front-haul shipments are expected in August.
• MEG/INDIA: The market moved firmly due to a healthy cargo flow. The increasing cargo list will keep this upward trajectory for next week.
• SEASIA/FEAST: The southern region had a firm start to the week with some fixtures noted at higher levels. This lasted until midweek, and by the end of the week, supply increased. In the north, oversupply pressed the market without any support from NOPAC and China. An increase in demand is needed to see any positive development 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