The Atlantic market trading at low levels under pressure still there is an oversupply of tonnage for the second half September, short term, rates will continue trading at these levels.
1 NSEA-UKC - Everyone waiting for some rate to be fixed after a dead week. Rates could come to 90 or even below.
2 Baltic - UKC Non ice - Primorsk maintainance cutting down on amount of stems and many open positions lead to rates below 80. Not looking bright 2 weeks ahead.
3 Baltic - UKC ice - No ice restriction in force.
4 Cross Med - Rate down to 90 and maybe even lower. Should be bottomed soon as earnings down to 6k a day. No delay at Turkish straights.
5 Far East - It seems rates are relatively stable at this level, a small relief in a miserable market.
1. CARIBS - Rates continue at 50 x 120 levels. Without more activity we could see some downward pressure next week.
2. FAR EAST- MR and Panamax getting higher return than Aframax on some routes but its generally a level playingfield at present.
1. Rotterdam - New York - The downward momentum in the TA market seems to be changing as charterers are starting to move more gasoline cargoes out of the UK cont, but despite increased activity rates still remain at low levels.
2. Caribs - The tonnage list continues to outweigh the demand. Market is is close to Bottom.
3. Houston - Amsterdam - (only the back haul leg) ARB might have opened slightly, however not enough to make a difference in rates.