What’s a good report?
A document which is found informative but without to much boring information, otherwise the report is remaining unread. So need to add something in so it becomes kind off entertaining.
So let’s start with the information:
Market is generally speaking moving upward still and again. Capes are said to be “with a strong $600” in the pacific Round voyage , Trans-atlantic round voyages are “with a modest $100/200 gain”. Panamax are prepared “for the rally” with +$300 and +$500 for respectively UKC transatlantic RV’s and Continental Front hauls. Resistance to this booming market is coming from handies which, anyway, have managed until now to somehow go through the last couple of week downturns. Meantime if you look a bit more into details on the Handies, the picture does not look that bad for owners $7’000 passing skaw to wmed via baltic with grains is somehow a decent number. Not the $10’000 for scrap to emed as mentionned yesterday, but we ‘re not talking about the same commodity. Also the few handies available are disappearing fairly quickly, to Brazil with fertilizers in the $6’000/7’000 region, to Wmed even higher is rumored done today. Continent still the right position on the ship is making the difference. The ships with ferts heading to Brazil hoping to be able to get better level than current ones, which are reported done Brazil to Baltic at $6500. From BLSEA Glencore barley cargo from Novo to Algeria with 25000 5pct 8000c/2500x out is said to be discussed below 14usdpmt this morning on a ship able to load 24’000mt. If true seems, according to info I could gathered charterers decided to go for the cheap vsl eventhough she was not maximizing the intake. Ex Kavkaz, we heard a 30’000mt grain stem to Morocco was booked in the region of 10usdpmt bss 8000sshex/5000sshex for loading within 10 days as from now. On supra, ex Emed Olam are reported fixed dely EMED w/ Mv ‘DAXIA’ at 10’250usd for redel Wafr, the requirement was seen asf on the market A/C OLAM 42/58000 dwt grd/grab “Dely Thessaloniki, l/c 14/18 aug tct with clinker redely wafrica intn Cameroon” Ship coming from Nermut Bay (abt 1 day ballast to Thessaloniki) basis our record and being fixed while spot.
Finally without willing to be the prophet of doom and gloom the surge seen at the end of this week could also be explained with the long week-end ahead of the Catholic countries and charterers, traders willing to have things done before heading to the beach.
Shall we talk precisely about bunkers prices, I still think we are already well covered by Merril Lynch analysis given to you yesterday, meantime fact is, bunkers are going up, brent being around 46usd.
To try to provide a good report, information still, “Cat on a burning roof” everybody can figure out the meaning but my English teacher, called me to correct and teach me the right way in English to name it it’s “a cat on a hot tin roof”, Maggie, if you’re reading me.
informative?: I think I can tick the box
And let’s conclude with the entertaining part of this report, I strongly invite you to open this youtube link sailing race rules where a clueless but quite funny commentator is not even trying to understand the Olympic sport he is supposed to comment on tv. Good to know, bankers and bunkers specialists -are not the only industries to have clueless people.
entertaining?: I think I can tick the box
I can wish you a good long week-end and in case you’re wondering through which broker you should fix on Monday 15th aug, then contact me on tweeter @jeromesorrel and you’ll find the team, on the deck ready to get it done.