•  US Gulf/US East Coast (USG/USEC): The market is under pressure due to an oversupply of vessels and a lack of cargo flow, leading to declining rates. Although more cargoes are expected next week, the large number of available ships will likely continue to push rates downward.

•  East Coast South America (ECSA): Activity has slowed, partly due to the high number of ballasters and limited cargoes. This oversupply is expected to persist, putting further pressure on the market next week.

•  Continent: The market has softened due to weak demand, a trend that is likely to continue through the end of the year as many charterers have already secured their coverage.

•  Mediterranean: Reduced demand and increased competition among owners have led to a less active market. Geopolitical developments in the region may also impact market dynamics in the near term.

•  Middle East Gulf/India (MEG/India): The market remains subdued with no significant changes expected next week, and little optimism for a rebound.

•  Southeast Asia/Far East (SE Asia/FEast): The southern market was quiet, with only Australian cargoes showing some activity. In the north, an oversupply of capacity has kept rates under pressure, particularly on routes from NOPAC and North China. Expect a flat market in the coming week.

 

•  US Gulf (USG): The market saw a decline, with support coming only from Transatlantic dirty and Intergulf cargoes. Fronthaul options were limited. However, the market is expected to become more active next week as charterers look to secure their final cargoes before the holiday season.

•  East Coast South America (ECSA): The week began on a firm note with reduced tonnage and a healthy volume of cargoes bound for Asia and the Atlantic. Demand is expected to remain strong, maintaining positive momentum into the next week.

•  Continent: The market has shown signs of stabilization, with steady demand for fertilizer and scrap cargoes. However, competition from Western Mediterranean tonnage has prevented further improvement, and this trend is expected to continue through the end of the year.

•  Mediterranean: Activity has picked up slightly, with cargoes from both the Eastern and Western Mediterranean showing some improvement. There is cautious optimism for the upcoming week, but market participants are closely watching developments in the Eastern Mediterranean.

•  South Africa (SAFR): The market has remained firm, with a tight tonnage list supporting rates. Although the upward trend has slowed, the market is still on a positive trajectory. Expect pressure from incoming ballasters from the West Coast India (WCI) in the short term.

•  Middle East Gulf/India (MEG/India): A solid week saw steady rates and stable capacity. However, the growing tonnage list means we anticipate a flat sentiment next week.

•  Southeast Asia/Far East (SE Asia/FEast): An oversupply of tonnage has outstripped demand in both the southern and northern regions, with additional pressure from ballasters from the East Coast India (ECI). Expect another flat week ahead.

 

As the holiday season approaches, we would like to extend my warmest wishes to you and your loved ones. 

 

May your Christmas be filled with joy, laughter, and cherished moments, and may the New Year bring you health, happiness, and prosperity.

 

 

Disclaimer

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