“Back on track” can be the summary of what we are seeing today on the chartering market. Owners and their brokers are back in front of their desk and for a change we have now charterers calling to get some sort of ideas on what’s going on. Almost all fresh cargoes proposed on the market are already showing beg september cancelling. Charterers who have to get out on the market and be covered in the next 10 days will most probably suffer a bit from lack of tonnage available around, unless the loading area is in Blsea. On handies, grains from Continent, situation remains unchanged eventhough we can notice ships being fixed quicker than the cargoes disappear. Not really strange knowing we do not see all the scraps or fertz requirements. “Low profile” is also the charterers strategy right now. Trying to remain off market as much as possible to avoid giving to owners the feeling that market being unbalanced, in the latters’ favor. Glencore 30’000 10 pct bulk wheat from Poland to algeria is likely to have to face at least 17.50usdpmt. Probably even bit more if they’re stuck. All in all, charterers who have to cover handies within the next 10 days as off now shall better be bit cautious and probably take what they are proposed especially if restrictions applies in one of the ports. When no restrictions applies at ports, charterers have to consider larger ladies than really needed in order to find a taker on their tct.
Is Black Sea losing slowly his momentum is an open question, Cargill reporting rating 6kusd for a 32/34kdwat to Morocco with grains, is somehow remaining a fairly decent number for Owners. This to be compared with the Kingfisher D, reported gone at 3’250usd dely canakkale redel UK-Continent. Ship was ballasting from Alexandria. For sure, the needs of ships to move grains is still here and ships keen to move cargoes from Blsea are also around. The party can keeps going on.
ECSA, the party is bit less exciting on the handies. Bunge is reported fixed with a 8yrs old 32kdwat namely Sea Majesty at 6’000usd daily for a trip to Tunisia, with delivery Recalada. HS3 is today at 5961usd daily.
USG, on Ultramax, we were reading that “rates are popping like pop corn“, With Ultramax confirmed fixed at $16’000/day for grain run to FEAST, see in today’s bdi report Mv ‘Aquapropser’ gone sw pass to China at $16’000′. I let you run the estimate on this one and compare with this fixture reported corrected last week asf: Eternal Grace’ 2006 60000 /10 hss US Gulf/China 24 /30 Aug $26.50 fio 10000 shex/8000 shex – Raffles”
Finally, to end up with this today’s report, while reading the below comments we can wonder if our industries top leaders are able to think forward.
“For instance we have seen the expansion of the Panama Canal and did not need to build Panamax containerships like crazy beforehand. Today more than 70 of these ships are spot with no prospect of employment”.
On one side, we can appreciate ordering ship and taking delivery is a kind of a long process and it needs bit more time than just snapping fingers, on the other side, the expansion of the Panama canal has also been one of the biggest and longest construction process in the last decade (the project for the new Locks started back in 2006 and was supposed to be up and running in August 2014. Longer process than ordering and taking delivery of ships. If someone can explain me then! Did not they know their Panamax ladies, ordered in 2012 will somehow become useless? In the meantime, Panama Canal expects tonnage to grow by 17% from 2015 (record high).
On the grain world, an interesting article found on Bloomberg, big players (Cargill and Dreyfus) in the Soyabeans market in Brazil are stopping production there due to Margin disappearing. you should find easily the link…dreyfus and Cargill sharing the same vision
and as a normal shipping people you’ll be interested to read information about beer and barley. Find it here. beer is not only water and expenses it’s also savoir-faire