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Brief report and predictions for next week for handy and supramax sizes 8TH APRIL 2024
- Λεπτομέρειες
- Δημοσιεύτηκε στις Δευτέρα, 08 Απριλίου 2024 07:17
HANDYSIZE
• USG / USEC – Market moved in two gears. Spot vessels were struggling to find a biz even at lower levels and vessels with later dates could try at higher rates. The majority of the cargoes are for second half April when expect further developments. For next week expect the market to remain rather flat.
• ECSA – Many tonnages from the north moved southbound and demand was limited so market lost ground. As the USG is under pressure anticipate the tonnage list in ECSA to remain long for next week.
• CONTI – Sentiment was bearish due to limited fixture volume and low action. Furthermore, capacity increased gradually decreasing the rates. Expect more action for the following week and the predictions are positive for the rest of the month.
• MED – Catholic Eastern and forthcoming Eid holidays pressed the market. Although there were more requirements, oversupply reduced the rates. Given the significant number of open vessels, more cargoes are required for the market to develop on a positive sentiment.
• MEG / INDIA – Market moved sideway as some chrts preferred to move before holidays. Expect equilibrium will be swayed post-holiday, with more action to be observed.
• SEASIA / FEAST – Demand was weak in both north and south. Only west coast Aussie supported the market but it wasn’t enough. Sentiment is bearish for the next week.
SUPRAMAX
• ECSA – Weak demand led to lower rates in the beginning of the week. Supply of vessels capacity was stable and this increased the pressure in the market. However, in the second half of the week many vessels were absorbed, so owners increased their ideas upward. Even though more tonnage may arrive from the north, there is a cautious optimism as the market progresses next week into a post-festive mood.
• USG – Market was quiet in both the gulf and the us east coast so the tonnage list increased. Expect the market to remain under pressure which may push vessels to move southbound. This may be expressed as a slight bounce towards mid- end- of the week though this will be soft.
• CONTI – Grains and scrap cargoes improved the market keeping the upward trend of the rates. Expect the market to improve further for the following week.
• MED – Cargo flow was limited, and action was unimpressive due to the Easter holidays. As per the current order book, expect improvements from mid-month onwards.
• MEG / INDIA – Weak demand made the market unattractive, and this contained activity within a relatively stable range without a clear trend in either direction. Demand was limited and under the prevailing market conditions where the market has plateaued, owners preferred fixing short trips to gain time. Expect the market to move slowly during Eid period.
• SEASIA / FEAST – A healthy fixture volume noted in the beginning of the week absorbing part of the available vessels. But oversupply in the South prevented a rise in rates. On the other hand, vessels with lc mid-April could see better bids. Expect market to remain quiet due to Eid 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