better to be cautious. Wear belt and braces

Quiet market is probably the average sentiment from the players. Either pretty much no movement with neither fresh cargoes nor fresh ship or like in Blsea still lot of cargoes being shot out and also quite few ships around competing against each others. Discussing with an owners having a ship in ballast from central med to Canakkale, it appears they already fixed and failed their ship twice since begining of this week and are now entering into another nego. To summarize situation there, it seems everybody has full of options on their desks and owners need to make up their mind and rather than go after the money, go after something being firm with easy subs, in other words owners shall better be bit cautious. And so charterers before fixing a great ship on the paper but lacking good management or being not safe on position, or…

Interesting mention of the Bunge cargo ex Niko to Tunisia with chrtrs talking 17$/mt. It’s difficult to estimate the exact tce on this one as obviously the loading terminal in Nikolayev and the da’s coming with can impact fairly highly the final income for owners. Also some players are able to work bss 7’000c in this port when most of the others are working w/ 7’000x. Also “Bunge talking” is obviously different than “Bunge seeing”. And whichever the terms at load, to tunisia, it shall be 2’000x only, the 17usdpmt is not giving time charter equivalent to what BMTI mentionned yesterday ie ’30’000mt wheat ex Ilichevsk to Morocco bss (guess) 8000/5000x bends chrtrs seeing 13.25/13.75usdpmt’. After checking here, trust this cargo is this Glencore proposed bss 8000c at load bss 14/18 august.

Black Sea and Glencore still, 35.000/10 CANOLA ABT 53′ VARNA/ARAG PPT/10 AUG 6.000/8.000 FRIDAY 5PM/MONDAY 8 AM BE 2.5 ADDCOM chrtrs aiming usd 11.50usdpmt (which is equates to about 5’500usd daily). The repositioning to ARAG could be a good move for owners, explaining the discount requested on the tce.

Yesterday we were mentionning you a handy ballaster from continent proposing 19usdpmt for 30’000mt wheat st law to algeria. We have run some estimates here, bss 7k / 3.5k x bends the tce is abt 7000usd dely les escoumins alternatively Dop ARAG this is coming down to close to usd 4’750 daily. Difficult to get the sense out of this move from owners. This is also showing quite a drastic move on the market, when if you remember, not that long ago, the 21st of july precisely, the mv ‘Amelie’ 34kdwat was reported fixed ex Murmansk to Brazil at 8’500usd daily. mv ‘Amelie” as mentionned to you on the 22nd july was ballasting from the St Law area.

Chartering market still, in the fixture list, this less than 15yrs old supra NEW LIU LIN HAI done by Cargill dely SW PASS ppt redal Bejaia at 8’000usd/day is according to our math a freight equivalent in the mid/high 10usdpmt with standard terms. Obviously definitive loadport in USG can impact by couple of USD up or down the pmt equivalent.

Still Supra, still to Algeria, Star Gemma done dely recalada at 7’750usd/day is in line with the decline seen on the S9 route Dely wafr to skaw pass via ECSA being worth today touch below 4300usd daily and losing 122pts.

Finally good to know, about 75 lifeguards are working on the olympic sites, to prevent the best swimmers in the world to drown guards at swimming pool .

The better to be cautious rule applies, not only in shipping.


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