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HANDYSIZE
• USG / USEC – The market showed signs of improvement the past week, owing to some new cargoes’ ex Gulf and East Coast to cover mainly fronthaul routes and to a lesser extent transatlantic voyages. These cargoes attracted the few open vessels that were left over after many owners opted to ballast southbound towards ECSA to find employment from the bullish Brazilian grain market. As tonnage supply was restrained, the few cargoes originating from the Gulf and East Coast paid a little extra. The balance has tipped in favor of cargoes destined for the area ex various loading locations rather than the opposite. A voluminous order book with destinations to the USG & USEC has developed, especially originating from the Mediterranean & Continent but owners are expected to express hesitation in repositioning their vessels in the region. • ECSA – The market appeared to be stable since supply and demand balanced out. The increased demand for tonnages to cover the increasing influx of new cargoes, was met by owners preferring trips ex ECSA. A contributing factor might have been the decreasing drafts of ports Upriver which puts large Handies in an advantageous position. Market sentiment suggests that more cargoes will appear, which may push rates upward during the upcoming week. • CONTI – Demand and activity decreased although limited cargoes in the market kept the rates rather flat or pushed them downward. Furthermore, charterers were looking for vessels from WMED to cover their needs. Sentiment is bullish for the week ahead for the Continent, which will remain at healthy levels without any extremes. • MED – The lack of fresh requirements pressured market rates to drop to lower levels. So many owners considered ballasting to the west. Sentiment is pessimistic for the following week. • MEG / INDIA – The market was quiet due to the Eid holidays, although some action was observed in the Indian ocean, from some requirements ex West Coast India. Expect more action during the following week. • SEASIA / FEAST – The south was quiet without any impressive action ex Aussie nor Indo. Although the North was more active, this was not projected on market rates. Expect the market to be firm for next week.
SUPRAMAX
• ECSA – The week started with the market appearing to be firm as the rates of larger vessels were close to the larger market segments. During the week, supply increased, which adversely impacted rates. An increase in demand for tonnage is needed for the market to improve during the next week, and this is indeed the norm historically during this part of the year. However, overexcitement could lead to oversupply which in turn will cause rates to plateau or even decrease. • USG – Market raised finally after a period of pressure with FH and west coast trips being the leaders in this trend. Given the current tonnage list and steady cargo flow, expect market to keep this upward trend. • CONTI – Action was less than usual but demand and supply were even, so rates remained rather flat. Owners have more leverage as they do not appear to be under pressure to fix. Wait for improvements earlier than the end of this month. • MED – Improvements were noted at the beginning of the week as the market was enriched with fresh cargoes, but also as the supply of tonnage remained stable. Although, at the end of the week the market stabilized. It is noteworthy that WMED was the center of interest for owners. Expect more cargoes in the upcoming week. • MEG / INDIA – Market was quiet as expected during the holidays. Although rates were marginally affected negatively. Expect the market to be more active after the Eid holidays. • SEASIA / FEAST – Market in the South was soft due to lack of coal, although nickel cargoes filled part of the gap. In the north, there was interest in backhaul trips keeping the rates at the same levels. An improvement in the cargo list will assist the rates 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