Are our index as old fashioned as the mullet?

Let’s start to rephrase with what we have been given to read in couple of market reports today

  • 31’000mt wheat rouen 10kx / 2.5kx back to 12.50usdpmt (I’ll ask then the author of this report to propose me a ship at this level)
  • 30’000mt wheat st law 8k / (guess 4000) x at disch seeing tonnage at 19usdpmt for end august with ballaster from continent
  • 30’000mt wheat ex Taman to Egypt med bss 7’000/5’000 charterers are proposing usd 9.00pmt and still here (and not surprised)
  • 30’000mt wheat ex Ilichevsk to Morocco bss (guess) 8000/5000x bends chrtrs seeing 13.25/13.75usdpmt
  • 25’000mt bagged sugar Kakinada to Port Sudan and Mogadiscu 1500x all ends chrtrs talking 32.50usdpmt (seeing mid 30usdpmt according to info we got)

We believe Black Sea area after a quiet start of the week shall rebound a bit in the days to come as cargoes are hitting the market quicker than the ships are arriving in the area. So on handies the 7’000usd daily mentionned by market report as being the benchmark might become bit light to convince owners unless the requirements being mainly on supramaxes size. And if you’re not convinced, you can read this

Let’s keep up bringing some good news. “many commodities are set for an upward trend in 2017 […] as demand strengthens and supply tightens” is the hook for your to read that

On the index side, Baltic Exchange and SGX are still wondering how they shall get married. SGX is planning to make an offer to the old bribe (272 yrs old) at USD 100Million, see here getting married, what for? and hopefully once they’ve gone on honey moon they’ll come back with some proposals of new routes and new “index type” ladies being more in line with what the yards and good owners can provide nowadays. Am I the only one to find the current index set up to be kind of old Fashioned, like the lovely mullet we were given to see back in the 80’s?

For sure refreshing the haircut shall enable everybody to have a clearer picture on where is the market and what the market is doing. Time being market is not crazy but let’s try to make it bit more sexy.

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