MID-SHIP Cement Report – Aug 20, 2024

August 20, 2024

Market Overview:
Aside from Capesize vessels, which demonstrated strong performance this week, the market traded within a very narrow range.

Current Market Conditions:
Today marks a quiet start to the week. Notably, since Friday, Panamax daily rates have fallen below those of Supramax vessels.

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 commencement of the northern hemisphere grain season, anticipate increased positional volatility. This is influenced by several factors, including 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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