On your marks, get set…
Waiting for the « Go » order is probably owners state of mind right now, the ones open in EMED/BLSEA on spot prompt basis. With Egypt back on the wheat market yesterday afternoon, with guaranteed by the receivers (it still remains to be seen) tolerance on Ergot content being back to international standard, after 3 tenders with no offer, the next one being on air now for shipment end October will most probably get some takers. This shall boost the wheat market but this shall also boost the demand of tonnage for the weeks to come. But hold your horses guys, no need to rush and have all the bulkers around the world to ballast toward Canakkale, eventhough Egypt is a big grain importer this will not fullfill all ships available. As we all have to admit, drybulk market is not all about grains and we can see quite few stems of scrap being covered from continent or baltic to emed. These handy/handymaxes ladies are getting something like 8’000usd daily to perform such trade.
On the Capesize it’s time for champagne, fireworks, drugs and rock’n’roll and some even wrote « Bombastic ». I’m not really comfortable with this word, but nevermind, as mentionned to you yesterday, whichever the word you want to use, the momentum is here on these ladies. If I may give an advise:
- Don’t wonder why,
- don’t wonder for how long it’s going to last,
- don’t wonder where you can order your next newbuilding Caper
Owners shall take advantage of this grace periode and save the money which can be saved.
On the Panamax, this size is surely get the benefit of the big sisters upward, today’s BPI heading to 700points (capes +271).
What going on the supras and handies ?
The fiesta is still not in. The Dj is still not even booked, discussing with various friends, from the ECSA, the HS3 route, basis the index is indeed going up, on the other side, in the real life the offers seen on this route seems to be not really in line with the +120 seen yesterday and whichever the the daily plus or minus, we shall not forget this HS3 route ECSA to Skaw-Pass is anyway only worth 5483usd daily on a handy index type. We shall not forget, most of the handies being valued at such level are ballasting from West Africa or South Africa, which is something like 10/12 days ballast.
To come back to interesting information gathered here and there, in case you’re willing to take « a broader view » and you can’t afford an helicopter tour (or simply don’t have the time): (source BMTI)
- around 10’000/10’500 bulk carriers currently at sea
- abt 1’200 new building shall get in until 2018
- ships older than 15yrs old = abt 115mt = abt volume in order
That’s it for today but we remain reachable if you have a sudden and uncontrollable willingness to fix something nice (or not that nice, we can also cooperate on this if we are left with no other choice).