www.TheSeaNation.gr

• USG/USEC: The market started slowly and faced pressure due to oversupply, leading to lower rates. No positive developments are expected until mid-October.

• ECSA: The market was very active with a healthy fixture volume, and demand remained stable with fresh requirements. The market found a bottom and is expected to firm up in the coming week.

• Continent: The market was slow with minimal activity for another week. The tonnage list was long, and cargo flow was weak in all directions.

Many owners considered ballasting to the USEC/USG, hoping that by the time they arrive, the market will be at a better level than it is now. No positive developments are expected for the next week.

• Mediterranean: The market experienced a positive but quieter week, with fixtures done at higher levels than the previous week. There were fewer vessels and more grain cargoes (finally) from the Black Sea. There is cautious optimism for next week.

• MEG/India: The market saw some positive corrections as India was more active, supplying the market with more cargoes, especially for the larger sizes. The sentiment is firm for the following week.

• SEAsia/FEast: The market was quiet due to Golden Week in China and holidays in Korea mid-week. Additionally, Taiwan ports faced various problems due to a typhoon. Consequently, rates declined, with only some support from wood pellet cargoes from the southern area. More cargoes are expected in the second half of October.

Ultramax

• ECSA: It was another negative week with low demand and strong competition among owners to fix their vessels. Owners, seeing the low rates, preferred to wait for a potential increase, but this is not expected to happen soon.

• USG: The market moved downward, especially for TA trips, with only some cargoes to India offering attractive options for owners. Another key factor for market development is the increase in bunker prices, which will reduce competition from larger, more energy-consuming vessels. The market is expected to remain stable next week.

• Continent: Scrap cargoes and limited supply of capacity drove rates to higher levels. Expectations are bullish for next week.

• Mediterranean: The market moved at two speeds. The first half of the week was active, but the second half was dull. Demand was promising in both the east and west. Additionally, there was an increase in grain cargoes from the Black Sea, and the market is expected to maintain this trajectory next week.

• MEG/India: The market experienced an uneventful week with few signs of life, especially for the larger sizes. A push in demand is needed to change the flat sentiment for the following week.

• SEAsia/FEast: The market was calm as participants were in holiday mode in both the southern and northern areas. However, a short tonnage list prevented a drop in rates. An increase in activity is expected after the holidays.

Disclaimer

This report and the information contained herein it is for general information only and does not constitute an investment advice