Eastern CPP Report: Likely bottom in rates forming

SEA and FE MR rates have fallen sharply but look near a floor as manageable supply and WC Americas demand point to stabilization ahead.SEA & FE MR:

 TC7 and TC11 rates have trended sharply lower over the past two weeks. Markets have been quiet this week due to Golden Week holidays. In SEA, tonnage counts have mostly remained in check, hovering around an average of 16 vessels (13, 7-day, 16-avg). FE tonnage also stayed stable until lengthening above the trailing average this week (6, 7-day, 3-avg) — suggesting that, based on supply, the recent rate drop looks overdone.

Michael Ryan, our Freight Commodity Owner at Sparta, brings over a decade of experience with Trafigura in the energy sector managing risk across products and regions before becoming Head of Risk for subsidiary Puma Energy. Michael then joined the Trafigura commercial team trading freight while successfully growing the physical fleet through strategic dealmaking.

Sparta is a live, market intelligence and forecasting platform that enables oil traders, refiners, banks, hedge funds and wholesalers to have access to real-time and global actionable insights to capture market opportunities before others.

To find out how Sparta can allow you to make smarter trading decisions, faster, contact us for a demonstration at sales@spartacommodites.com