Quite more active day here with few grains requirements freshly proposed from the continent on handy Direction WMED or WAFR. Chrtrs seems in position to manage to secure ships below last similar done, which given the continent activity in the last couple of weeks is not really surprising as in the meantime ships kept pilling up around, does it means as mentionned by BMTI that 10.50usdpmt for 30’000mt of bulk wheat from rouen to algeria (with usual terms 10’000x/2’500x) is obtainable? I would not bet on that.
Maybe on the spot, but then need a cargo. Will it be at 10.50usdpmt when the cargo will be ready? is another story. Knowing owners are also aware about the lovely French docker’s unions strike which has been delaying and costing money to all parties involved on one hand, on the other hand, Ramadan as started at destination, where seems with a fairly end of May Beg of june, the congestion there shall be fairly reasonable. Hence, owners can hardly bet on demurrage to make money.
On handies still, basis yesterday index, USG remains the place to be, with daily equivalent on hs4 at 7’500 (+123) while HS2 (skaw pass to usg) is at 5075 and losing 154 and chrtrs being covered with in-house tonnage ex continent seems fairly happy to name in-house ladies. Even Baltic seems to lose his momentum, let’s hope that the owners keen at 6’000$ daily for ferts from Baltic to Vietnam are having a plan B in their agenda once open again in Vietnam. Same money (ie 6’000usd) is requested from Ilichevsk to Chittagong with grains, when owners requesting in between 7’500 to 8’000 daily, which converted into voyage is 2.50/3.00usdpmt more.
ECSA not showing too many good signals, the rain in Brasil seems to keep delaying the sugar arrival at port, shall not help congestion to go down and we have seen more than couple of handies being open around Recalada for more than 10 days now.
Appart from that, interesting to read in the container section they’re about to look after more precisely about the weight of the containers loaded, this for ship safety reason.
On the finance side of our Industry, Cyprus Bank is thinking about investing in shipping. Rop managers of RCB are attending to posidonia and declares to splash247, “We’ve got lots of liquidity and think this could be a good sector for us to get in” see full article here about RCB and shipping
Meantime, few things reported said about bank & shipping at same event.
In nutshell, when some banks are wondering what to do with all their money, some others are still wondering how they’ll be able to cover the billions lost in the last 5 years.german banks bad loan.
have a nice evening