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• USG/USEC: The market remained on a negative trajectory due to a lack of fresh demand from the East and North Coast. Furthermore, the USG moved slowly with few grain cargoes. A push in demand is needed to see any development next week.
• ECSA: Rates decreased for another week. There were some cargoes in the market, but they weren't enough to change the generally negative sentiment. Additionally, many preferred to wait for a potential rate increase. Expect the same pressure next week.
• CONTI: The market was quiet with low cargo and fixture volume from the Baltic. Furthermore, increased supply pressed rates down further. Sentiment remains bearish for the following week.
• MED: The market was under pressure with strong competition among owners. Additionally, there was no support from the BSEA due to a lack of Ukrainian and Russian cargoes. Don't expect any positive developments next week.
• MEG/INDIA: The market was slow with few firm cargoes, apart from some discussions for tenders from India. Furthermore, monsoons caused many operational problems in the ports. An increase in demand is needed to see any development next week.
• SEASIA/FEAST: The market dropped slightly. Some action was noticed at the beginning of the week, but limited real demand and increased capacity led rates to lower levels. Expect the market to continue its downward trend next week.

SUPRAMAX

• ECSA: The market proceeded without any significant changes from last week. A lack of new cargoes and a buildup of the tonnage list kept the market under pressure. Expect the market to remain in the same condition next week.
• USG: The market started the week slowly, with some local and TA trips mid-week, but rates decreased. According to the current cargo and tonnage list, expect the market to stabilize next week.
• CONTI: The market was dull without any impressive opportunities to stir up the calm waters. Anticipate the market to keep this trend next week.
• MED: The market lost ground for a consecutive week as the cargo list from the BSEA, especially grains, was very limited. On the other hand, the West Med was a bit better than the East. Anticipate further pressure on rates next week.
• MEG/INDIA: There was movement in the market, so rates remained more or less stable. As the monsoon period ends, expect more action in the market.
• SEASIA/FEAST: In the southern area, the market was firm for spot tonnages as there were some cargoes to China. In the northern area, the market was flatter. Trips to NOPAC or the Atlantic were paying the same levels, but routes via GOA were giving a premium. Expect the market to have an "owner-side" start 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