la vie en rose with your ford Pinto

Timing is everything – or almost everything- in our industry right. We can tell the ‘State of the Market – Commentary from a dry cargo broker’– section proposed in today’s BMTI edition is kind off wrong. In summary our fellow broker, is very close to buy a rope and hang himself , to end up with his tough broker’s life. Allow me then today to write down a letter to my fellow old broker who seems to be about to commit irreversible decision.


Letter to a friend broker

Buddy, if you’re reading me, DON’T DO THAT. It seems you’re very well experienced in the Industry, as you’re saying « The number of young enthusiastic people in the sector is a fraction of what it was 30 years ago ». So I guess you’ve been in the industry for at least 31 years, this means you have a great, huge and priceless expertise. You’ve been through the « Millenium bug clause » which we can see in some nice Nype Cp, you can remind to the youngsters you harshly negotiated this Bimco wording, and I’m sure you successfully did it. For the young fellows who’ll read this open letter, below this Bimco Clause :

« Year 2000 conformity’ shall mean that neither performance nor functionality of computer systems, electronic and electro-mechanical or similar equipment will be affected by dates prior to or during the year 2000. Without prejudice to their other rights, obligations and defences under this Charter Party including, where applicable, those of the Hague or Hague-Visby Rules, the Owners and the Charterers, and in particular the Owners in respect of the Vessel, shall exercise due diligence in ensuring Year 2000 conformity in so far as this has a bearing on the performance of this Charter Party. » It was challenging .

Come on Buddy, you need to see « La vie en Rose » :

  • Do you really miss the telex ?
  • Do you really miss the currency conversions, from schillings to Deutchmarks, from Drachmes to US Dollars ?

(If you really miss it, you can still play with your abacus once you have fixed the ship and convert into « old francs ». You’ll realize your commission is worth millions (monkey money, but still millions)).

  • Do you really miss your Ford Pinto ?

Dude, open your eyes, the shipping sector needs people like you. To the contrary, there are lots of young guns, entering into the market, with fresh eyes, naive questions and full of creativity. They need you. Try not to be too boring and try to avoid these kinds of words « in the old days, shipping was… » as we all have to admit, it is truly quite boring to hear these. But entertain them, tell them you remember having fixed a ship, in a public phone, while you were en route to the port to ensure your 1947 built lady were trully as described. Tell them, at that time you were driving your Ford Pinto, tell them you were having 5 assistants helping you to handle the whole picture. Imagine, now on your own, you do 5 people jobs. You do it because you’re great.

Look at the Handy market, it’s on the way to recover, forget about the Capers, they are anyway boring, and 30 years ago, these ships were not existing anyway. Focus on the Panamaxes or on the BHSI, let’s believe BHSI is still on the way to the moon (or so), lead by the HS3 heading close to 7000$ daily. Look at that

  • Mv ’Western Boheme’ 2012 37000 dwt dely Vitoria prompt trip redel Black Sea dur 50 days approx $8500 daily –

Look also this fixture

  • ‘Western Tosca’ 2013 37’194 dwt dely Baltic prompt trip redel Florida $7,000 daily – PacShip »

would you have bet one single cent 10 days ago on this Baltic to USEC being worth more than $6’000 ?

This fixture also, few months ago, the freight was wondering whether it should stay above 20usdpmt or shall go for a visit in the 19’s…

  • ‘Ultra Dwarka’ 2012 50000 /10 hss US Gulf/N China 0 1/10 No v $31.50 fio 10000 shex/8000 shex – Cofco Agri

Look, even the big guys like Dreyfus or Cofco seems to have decided to give a hand to the market  Stop listening to the experts, they are always wrong. They were wrong in 2007 when they were saying « sky is the limit ». As we say, « fool me once… ». The market revival is now, it’s today !

You’re great, we love what you do,we love who you are and please stay with us.

Your friend Jerome

Ps : if you really really really want to leave the industry despite this letter, before closing the door please send me details of your exclusives principals so I can call them and try to get into your path.


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