“Show me your love, show me how much you care” is Tina Karol (kind of famous) lyrics for her song proposed at the Eurovision tornament held in 2006. It could also have been drybulk owners “cry of distress” few days ago. But, if we believe what’s BMTI is saying today with “Owners have no reason to grumble, improving market conditions have not only been lifting their spirits but also their faith in a steady and even better 2018“. So Owners are seeing market improving again, if they are looking at Grains movement, they have good reasons to have faith in the ECSA origin and Black sea one, with for instance, Russian wheat harvest almost doubled in a decade, with much of the regrets of other countries producers (competitors then) a quality which have also improved in the same time. Grains production in Russia, is said to be 130Million ton in 2017 (and nothing related to Tina)… Other Eastern Europe countries are not left aside of this quantities improvements. According to the attached picture, to name few countries in the black sea Romania + 75% (5.7MMT), Ukraine + 92% and close to 30MMT harvested (datas dated from 2006 to 2016 worth to mention)…
Sure quite a bit to be shipped away around the world with owners lovely ships. The main risk with this world grain production for shipping, is if one day, at some stage, small importers are becoming self sufficients. Our shipping and trading world, to remain in good shapes, need unbalanced situations and moment of stress.
Talking about Black Sea, the local coasters have been enjoying a great time in the last few weeks, with rates unseen from a long time ago. Handies are also managing to make up rather good daily hire/or pmt freight. Today are reported 2 28kdwt managing to secure above $10,000 daily each for Blsea / Med cargoes. Knowing these 28kdwt are not any more the easiest ship to work nowadays, it’s somehow quite remarkable.
Ex Ecsa, the month end usual rush (thanks to the 7days notice) is looking like to be over. Still the last done will surely set the market for beginning December.
Continent, the traditional France to Algeria wheat is still in the air. Quite various Time charter equivalent are seen. Obviously this will depend on flexibility on charterers side and from where ships are coming from. Up to our knowledge, for beginning of December, a ship has been booked at $18.35, which if true, is a rather good number for charterers.
To conclude today’s report, LOVE, as not much to do in the chartering business. Yes, our late Takis, used to tell to his young brokers team: “brokerage is the art to put in the same bed owners and charterers for the duration of the shipment contract“. This did not necessary meant love was involved in this statement. In case, you don’t now Tina Karol, you can still check here the song . What about the lyrics? here they are . Feel free to switch “love” by “ship” and/or “cargo” or even “money. Your turn to be an artist!
Have fun and a nice week-end.