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• USG/USEC: The market dropped as demand was weak and tonnage built up. The sentiment for next week is bearish, but more grain cargoes are expected at the end of the month.
• ECSA: Two tiers between North and South were noted. The North was slow due to limited cargo flow, while the South remained steady at reasonable levels with some support from TA trips. Expect the market to maintain this trend next week.
• CONTI: The market continued to decrease as activity was low and the cargo list was short. The sentiment is soft for next week.
• MED: The market was subdued with no significant action during the week, and BSEA remained quiet. The market will remain under pressure next week.
• MEG/INDIA: The market remained stable. Supply was limited as monsoons kept many vessels occupied, and there were some cargoes to be covered. No major changes are expected at the beginning of next week.
• SEASIA/FEAST: In the southern areas, some cargoes at the beginning of the week offered a push to the market, but it dropped after covering. In the northern market, it was quiet, with some action appearing midweek. A push in demand is needed to see any development for the upcoming week.

SUPRAMAX

• ECSA: The market had a firm start to the week with some fixtures reducing the supply of vessels. However, the rest of the week was flat due to limited cargo flow. No significant changes are expected next week.
• USG: Interest was around trips to the East. Furthermore, the East and North Coast were quiet, and many vessels started ballasting to the Gulf. Expect to see more cargoes with end-August/beginning-September dates, supporting the market at the end of the month.
• CONTI: The market was dull as participants were in holiday mode. Some scrap cargoes are anticipated, hoping to positively change the trend.
• MED: The West Med was better this week with more cargoes and fewer vessels, slightly pushing rates. On the other hand, the East Med was lackluster, and many owners considered ballasting to the West. The market is expected to remain under pressure next week. There are some cargoes from Ukraine for the end of August, but they are paying low rates, not justifying the risk of fixing a cargo from that area, and many of them are not firm.
• MEG/INDIA: The market lost ground due to a lack of fresh cargoes. Expect the same trend next week.
• SEASIA/FEAST: In SE Asia, oversupply kept rates at the same levels despite the improvement of Indo coal cargoes to China. In the North, there were no attractive alternatives, so many vessels ballasted to the South. Anticipate an increase in tonnage due to ballasters, pressing rates further 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