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• US Gulf/US East Coast (USG/USEC): The market experienced a bustling week with an increased cargo list for transatlantic trips during the first half. A firm sentiment is anticipated for the upcoming week.

• East Coast South America (ECSA): The market maintained its levels, though sentiment shifted slightly. The gap between charterers and owners' offers hindered further developments. With an oversupply, it remains to be seen if the positive trend will continue next week.

• Continent: Activity was limited, with fewer cargoes than the previous week. Rates declined on some routes while others remained stable. The market is expected to stabilize until mid-December due to fewer ballasters from West Med.

• Mediterranean: A slight downward trend was observed, although supply tightened and cargo flow from the Black Sea remained stable. More cargoes are needed to see further developments next week.

• Middle East Gulf/India (MEG/India): The market showed signs of life with new requirements and charterers ready to negotiate. If this trend continues, expect further positive developments next week.

• Southeast Asia/Far East (SE Asia/FEast): Activity was slow, with most cargoes being fixed in the north and south. Some cargoes from China are expected mid-next month, so a long tonnage list is likely to dominate the market next week.

Supramax Market Overview

• US Gulf (USG): Charterers rushed to cover their cargoes before the Thanksgiving break, resulting in a healthy cargo flow, especially for transatlantic trips. Trips to Asia were more stable. More action is expected at the beginning of next week as participants return from their break.

• East Coast South America (ECSA): The market mirrored the previous week, with fresh cargoes early in the week bringing optimism. However, as cargo flow did not renew, the market remained flat. Significant changes are not expected next week given the current cargo and capacity volume.

• Continent: The market was subdued with limited action and an increased tonnage list, leading to lower rates. More action is anticipated before the festive period, though next week is expected to remain quiet.

• Mediterranean: Activity dropped as the market moved into the last month of the year and the festive period. The Western area showed better conditions than the Eastern, but oversupply hindered recovery. Even the Black Sea couldn't offer any premium. A reduction in supply is needed to change the flat sentiment next week.

• South Africa (SAFR): The market started flat and remained unchanged rate-wise. Increased activity was noted from WCI with more fixtures from India via SAFR. The market is expected to remain firm with a long cargo list next week.

• Middle East Gulf/India (MEG/India): The market remained stable with new cargoes to Bangladesh and fewer vessels in the Gulf. The market is expected to remain active, but it remains to be seen if this will increase rates next week.

• Southeast Asia/Far East (SE Asia/FEast): Fresh orders from Nopac led to higher rates in the northern area. Cargo flow from North China remained steady. The southern area market was firm with a balanced supply-demand equilibrium. Bad weather in China is expected to keep many vessels occupied, leading to cautious optimism for next week.

Disclaimer

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