www.TheSeaNation.gr

• USG/USEC: The market faced pressure from oversupply as many vessels moved to the area in anticipation of the grain season. Additionally, charterers preferred to wait, further pressing the numbers. Expect more activity moving towards October.
• ECSA: The market remained stable with no significant changes, maintaining decreased rates at the beginning of the week. Mid-week saw an influx of new cargoes, but this did not help increase rates. The market is expected to remain at the same levels next week.
• CONTI: The market improved due to an increase in scrap cargoes. Additionally, some fertilizers from the Russian Baltic provided an attractive alternative for owners. The market is expected to continue this upward trend next week.
• MED: The market was flat. Although there were more grain cargoes, an attack on a vessel increased the War Risk Premium and voyage expenses, making owners reluctant to sail in the area. We need to wait until the beginning of the following week to see how the market will move.
• MEG/INDIA: The week started slowly due to holidays*. The market continued to move slowly throughout the week. Expect the same for next week.
• SEASIA/FEAST: The market maintained its levels despite limited activity in both the northern and southern regions. Only some requirements from NOPAC provided support, but it wasn't enough to change the general sentiment. Expect the market to become more active before the Chinese Golden Week (1-7 October) as many traders will want to fix deals prior to the holidays.

ULTRAMAX

• ECSA: The market started the week under pressure due to many spot and prompt vessels and limited activity. West Africa was more active, but it wasn't enough to stop the drop in rates. Anticipate an increase in demand at the beginning of next month.
• USG: The market began the week similarly to how it ended the previous one, with an increase in TA cargo lists firming up the rates. However, the rest of the week saw a decrease in demand and rates. Expect more grain cargoes in the first days of October.
• CONTI: The market increased at the end of the week with charterers being active and an increased volume of fixtures. Anticipate a firm start to next week.
• MED: The market developed positively with cement cargoes leading the way. Additionally, reduced supply pushed rates higher. Expectations are positive for the rest of the month.
• MEG/INDIA: Holidays during the first half of the week slowed the market, and this trend continued throughout the week. There are no signs of positive changes for the following week.
• SEASIA/FEAST: The market had a slow start to the week due to various holidays* and proceeded flat without any positive surprises. Only some NOPAC cargoes supported the market, leaving a bullish sentiment for next week.

*: 16th sept Prophet Muhammad’s birthday in Indonesia , Mid-Autumn Festival in China on September 15th, Respect for the Aged Day in Japan on September 18th, Chuseok in South Korea from September 15th to 17th, and Ganesh Chaturthi in India on September 19th, Eid Milad-un-Nabi on September 16th

Storms and Weather Factors

In the past week, several countries have experienced storms and severe weather events. Here are some notable instances:

1.United States: Tropical Storm Gordon formed in the Atlantic, affecting parts of the southeastern U.S. with heavy rains and strong winds.
2.Japan: Typhoon Nanmadol brought heavy rainfall and strong winds to parts of Japan, causing disruptions and evacuations.
3.Philippines: Tropical Storm Paeng (Nalgae) impacted the Philippines, leading to flooding and landslides in various regions.
4.India: Cyclone Gulab affected the eastern coast of India, bringing heavy rains and strong winds.
5. Mexico: Hurricane Pamela made landfall on the Pacific coast, causing significant rainfall and flooding.

These storms have had various impacts on local communities, including flooding, power outages, and disruptions to transportation and shipping.

Effects of storms on Shipping:

1. Delays and Disruptions: Storms can cause significant delays in shipping schedules due to rough seas and port closures
2. Increased Costs: Higher fuel consumption and rerouting to avoid storms can increase operational costs
3. Safety Risks: Severe weather conditions pose risks to the safety of the crew and the vessel, including the potential for capsizing and cargo damage.
4. Port Operations: Storm surges and flooding can impact loading and unloading operations at ports, further delaying shipments.

These effects highlight the importance of careful planning and real-time monitoring in the shipping industry to mitigate the impact of severe weather

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