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Last updateΔευ, 01 Ιουλ 2024 7am

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Pioneer cloud ERP solutions tailored to shipping by Fleetwork

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China's property crisis, a key driver of its economy

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BRIEF REPORT AND PREDICTIONS FOR NEXT WΕΕK FOR HANDY AND SUPRAMAX SIZES 17TH ΜΑΥ 2024

Bulk carrier 1HANDYSIZE

• USG / USEC – The market decreased as the current demand couldn’t absorb the available vessels. Although there were some fixtures with cargoes ex USG and USEC. A push in demand is required to see any development during the following week.
• ECSA – The market maintained a downward course, although for trips to Asia noticeable activity was observed somehow. The predictions are negative for next week as there is limited cargo flow.
• CONTI – The absence of fresh requirements ex continent dropped the rates. Furthermore, the Baltic didn’t offer any attractive alternatives to owns. At the end of the week there was a small increase in the cargo list cultivating a curious optimism for the next week.
• MED – Demand was low toward all destinations from West and East alike. So, more vessels considered cargoes ex Russia and Ukraine, minimizing insurance premia. With this provided, more grain cargoes may be expected at the end of May and the beginning of June, thus the market may improve.
• MEG / INDIA – Seemed that the market was flat during the week due to the low activity. Seems that there are some cargoes in the market, consequently the market balance out before the monsoon season.
• SEASIA / FEAST – North was firm as there was a balance between supply and demand. Worthy to note that backhaul trips improved significantly. The South performed even better than the north due to tight supply and healthy cargo flow ex Aussie. Predictions are positive for the next week.

SUPRAMAX

• ECSA – Market was under pressure, especially in the North due to the increasing supply of tonnage in ECSA and West Africa and the weak demand. Expect further pressure for the next week because of the ballasters ex Africa and US Gulf.
• USG – Capacity built up due to a quiet market. Furthermore, Panama Canal operations reduced the previous congestions releasing many vsls. Forward cargoes are booking at lower levels so expect further pressure in the market soon.
• CONTI –The lack of fresh demand kept rates lower than last week. Only some scrap cargoes to Med and the other side of the Atlantic stirred the calm waters. Supply is reducing so expect the market to be firm for the following week.
• MED – A hot mix of increasing supply and unhealthy cargo flow dropped the market and owners accepted lower levels of rates. There are still uncovered cargoes although expected oversupply should keep the market under pressure next week.
• MEG / INDIA – Market proceeded without any significant changes. Furthermore, the tonnage list was long and expect it to remain the same, with rates being under pressure during the next week.
• SEASIA / FEAST – The market cooled off and only owns that were willing to pass GOA and call Russia could get a premium. Expect further losses as charterers will wait, taking advantage of the negative trend of the market for next 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

Losses of all sizes in the Dry Bulk Cargo Market

bulk ships 000Iakovos (Jack) Archontakis
Commercial Director TMC MARITIME CO.

Dr. Fotios-Evangelos Karlis
Maritime Executive and Consultant

The dry bulk cargo market showed downward trends last week compared to the previous one, with the largest sizes showing the biggest losses followed by the smaller ones.

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