www.TheSeaNation.gr

• USG/USEC: The market was supported by new orders and stable supply. Furthermore, trips to Asia and the West Coast gathered interest. Expect the market to remain firm for the following week.
• ECSA: The decline in rates motivated charterers to move, so the fixture volume increased but at lower levels. The southern area performed better than the northern area, limiting the decrease. There is cautious optimism for next week, with expectations of more fresh requirements.
• CONTI: The market was flat with a balance between supply and demand. Expect an increase in demand at the beginning of September.
• MED: Oversupply and a lack of fresh cargoes pressured the market. Charterers stayed put and avoided offering for September cargoes, trying to take advantage of the situation. Expect the market to remain on a downward trend for the following week.
• MEG/INDIA: The market proceeded sideways rate-wise as there was a balance between supply and demand. An increase in cargo flow is needed to see any development next week.
• SEASIA/FEAST: The market was dull without any attractive options and strong competition between owners. Expect the market to continue its downward trend next week.

SUPRAMAX

• ECSA: The market was quiet for another week, and the tonnage list built up. Furthermore, demand was weak, so rates decreased. Expect the market to continue this downward trend next week.
• USG: The market had a firm start to the week due to fresh cargoes. However, upon fixing, some of the cargoes didn’t renew, so owners were obliged to reduce their ideas. Furthermore, Asia routes maintained better numbers. According to the current cargo list, expect the market to decrease during the next week.
• CONTI: The market was uneventful due to low demand, but there are hopes for a bullish September.
• MED: The absence of grain cargoes from the Black Sea and low activity dropped the rates. Given this, some owners considered ballasting to the West Med. Don’t expect any significant change next week.
• MEG/INDIA: The market decreased due to the lack of spot cargoes, and any fixtures that were done were at lower levels. Anticipate further pressure on rates next week.
• SEASIA/FEAST: In the southern area, activity was subdued, and owners accepted covering some cargoes with a discount. In the northern area, the market was stabilized due to NOPAC and Indian trade. An improvement in Indo coal cargoes will support the market 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