• US Gulf / US East Coast (USG/USEC) : The week commenced on a strong note, with a robust cargo flow fueling market activity. However, this momentum failed to translate into significant rate increases, leaving fixtures largely unchanged. Looking ahead, optimism prevails, particularly for Transatlantic (TA) trips, which are expected to see a surge in demand.

• East Coast South America (ECSA) : A vibrant week unfolded with high activity levels and a strong volume of fixtures. Both the northern and southern regions experienced heightened demand, though the southern sector outperformed its counterpart. Market sentiment remains overwhelmingly positive, promising a buoyant outlook for the coming week.

• Continent : A sharp uptick in demand combined with a limited fleet availability resulted in a bullish market. The scarcity of tonnage prompted many charterers to secure vessels on a delivered-on-position (DOP) basis ex-West Med. The forthcoming week is expected to sustain this momentum, with a bullish outlook prevailing.

• Mediterranean : A pronounced surge in demand, particularly for Transatlantic routes, sustained the positive market sentiment and propelled rates upward. However, with an influx of new supply anticipated, market pressure may intensify in the upcoming week.

• Middle East Gulf / India (MEG/India) : Despite increased activity, rate hikes failed to materialize, keeping freight rates under pressure. A demand boost is crucial for any meaningful upturn in rates. The upcoming week will require stronger fundamentals to drive market improvements.

• Southeast Asia / Far East (SE Asia / FEast) : The southern sector saw an active start to the week, yet the absence of Australian cargoes hindered further market gains. Meanwhile, the northern region was well-supported by North Pacific (NOPAC) and Back Haul trips. The dwindling tonnage list is expected to provide a favorable foundation for further market strengthening next week.

 

• US Gulf / US East Coast (USG/USEC) : The Ultramax market in the East Coast faced downward pressure as a significant portion of cargoes had already been covered, leading to a buildup in spot capacity. Additionally, many owners steered clear of Mediterranean routes due to less favorable conditions. As forward cargoes continue to secure current rates, expectations remain firm for the near term.

• East Coast South America (ECSA) : The South Atlantic exhibited mixed signals. The week started with a promising outlook, bolstering owners' confidence and driving rate expectations higher. However, as the week progressed, owners had to temper their demands, clearing out much of the available supply. Nevertheless, market sentiment remains firm heading into the next week.

• Continent : A marked increase in both activity and rates was observed across all routes. This surge was primarily driven by scrap cargoes and a constrained tonnage list. Additionally, fierce competition among charterers for cargoes bound for Asia pushed rate expectations higher. While cautious optimism remains, the market's ability to sustain this upward trajectory will depend on continued demand.

• Mediterranean : The Mediterranean market gained traction, with numerous vessels securing fixtures and reducing available tonnage. Concurrently, stable cargo flow further supported rate increases. A continued push in demand will be essential to maintain the upward trend in the coming week.

• South Africa (SAFR) : The South African market held steady, with no significant shifts in supply. Meanwhile, demand remained robust, and the number of ballasters remained low. Given the prevailing optimism in the Pacific market, South Africa is expected to follow suit in the coming week.

• Middle East Gulf / India (MEG/India) : Despite heightened activity and a generally positive market sentiment, rates remained unchanged. No major shifts are expected in the coming week, although an uptick in activity is anticipated ahead of Ramadan.

• Southeast Asia / Far East (SE Asia / FEast) : Momentum continued to build, driven by an abundance of Indonesian, Back Haul, and NOPAC cargoes. Additionally, Australian cargoes contributed to the region's robust activity. A promising outlook suggests sustained growth as we move into next week.

 

 

 

 

 

Disclaimer

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