Παρ07122024

Last updateΠαρ, 12 Ιουλ 2024 9pm

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Brief report and predictions for next week for handy and supramax sizes 5TH July 2024

Bulk carrier 1

HANDYSIZE
• USG/USEC: The market was active during the first half of the week; however, Independence Day led to a slowdown. Expect the market to maintain this trend next week.
• ECSA: Supply and demand were balanced, but rates faced slight downward pressure. The draft of the Up River is facilitating cargo movement for Handysize vessels. The market is likely to stay at current levels next week.
• CONTI: The market remained quiet with limited demand, and only Russian Baltic cargoes presented some attractive options. With capacity supply being restricted, the market is anticipated to stay unchanged next week.
• MED: A shortage of new cargoes and an extensive list of available tonnage pressured the market. Additionally, a limited number of cargoes from the Black Sea failed to support the market. Expectations for next week are negative.
• MEG/INDIA: Monsoon conditions have caused operational issues and port delays, slowing the market. Limited cargoes from the Persian Gulf and intense competition among owners led to rate reductions. The downward trend is expected to continue into next week.
• SEASIA/FEAST: The southern market began the week quietly but picked up pace towards the end. Conversely, the northern market started strong but experienced a slowdown. A slow start is anticipated for the upcoming week.

SUPRAMAX
• ECSA: Despite reduced supply, the market remained quiet, leading to lower rates. However, with some Front-Haul (FH) and Trans-Atlantic (TA) cargoes emerging, the market is expected to stabilize next week.
• USG: The market saw development due to a robust cargo flow, particularly for trips to Asia. Owners with available vessels capitalized on this and sought higher rates. The market is projected to stay firm next week.
• CONTI: As demand grew steadily, the market responded positively, with owners seeking increased rates. A bullish beginning is expected for the following week.
• MED: The market showed some activity, especially towards the week's end, preventing further declines. Based on current data, developments are expected in the second half of July.
• MEG/INDIA: The market was slow, leading to a buildup of supply. Owners preferred to wait, resulting in charterers with immediate needs paying higher rates. No significant changes are anticipated for next week.
• SEASIA/FEAST: The southern region experienced a shortage of Indonesian cargoes, while in the north, steel cargoes drove the market. However, this was not sufficient to alter the market sentiment. Similar conditions are expected for the following 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

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