MID-SHIP Petcoke Report – Aug 28, 2024

August 28, 2024

Market Overview:
The end of the summer season and the market traded within a very narrow range.

Current Market Conditions:
A quiet start to the week. Notably, since Friday, rates have fallen further across all sectors.

Broker Estimates and Historical Data:
Please refer to the chart below, which illustrates our current broker estimates and the historical range in commodity-specific benchmark trade lanes.

Market Outlook:
As we approach the end of the summer season, the commencement of the northern hemisphere grain season, and the potential realization of lower interest rates, we anticipate increased positional volatility. This is influenced by several factors, including further improvements in the Panama Canal, ongoing diversions of Red Sea traffic via the cape by the Houthis, and the convergence of Panamax and Supramax daily rates.

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