ammonia might be the future for eco friendly ships… (it’s also a music band but nothing related to shipping I’m afraid)

Good day Good afternoon,

Very quiet day on the freight market, few countries are off, like France, but this shall not be enough to explain this quietness. (Well, note USA are also taking a break). One particular comment raised our intention in yesterday’s BMTI report, if you did not go through it, then you did not notice it, here it is :

« Grains origin ex USG expected to be huge as of beg January into Brazil to compensate the likely poor wheat harvest in Brazil, (freight ex) USG shall remain strong in the months to come » on which I may add « unless all ships at sea heading to USG to take their piece of the pie. »

A quick look at today’s BDI, mv ‘Amorgos’ 36kdwat open Norfolk (USEC) is said being fixed at $9’250 daily, dely Norfolk redel Med. It seems to be a rather good fixture for Owners compared to HS4. On the larger ladies, from them area, or so, Ultramax tiger Pioneer is reported being fixed dely SW Pass end nov to china at $ 15’750usd daily. Knowing the ship was circulated being spot in Bahamas, this $15’750 daily looking bit less bright, if we add the something like 15 days waiting before being delivered to the next charterers.

For those of you interested in “alternative fuel eco friendly” you can find here some pros  cons about Ammonia to fuel our ships IMAREST. Until now, the energy to move our ships is mainly coming from oil. So far OPEC members did not manage to find a deal on how to cut production down, to make prices going up. Brent in London at $45.84 and bunkers are getting cheaper. Will opec’s brains find a solution to their issues on Nov 30th in Vienna ?

Going through various market reports and shipping news, all are trying to assess and guess which will be the impact on shipping with Donald J Trump election. It’s surely too early to say and with all due respect to USA, whichever the next president, ships will remain at sea, and we shall not forget, we’ve been told in the last 2 decades China is the main market driver for shipping industry…out of a sudden, the market driver moved to the other side of the World ? I don’t think so.

To end up today’s report as Lenard Cohen’s said about Suzanne « all men will be sailors then until the sea shall free them » . That’s how it goes  suzanne  or everybody knows

Jerome

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