« sometime you have to accept not to understand », is not only the new Motto for all the polls institutions and medias who are still wondering what they have missed earlier this month with the election of Trump. Trust we can apply this motto to chartering people also. Really what a relief here to read in market report « A true rally is underway and analysts only partially seem to understand why »
Discussing with various friends and business contacts here, answers remain elusive on this question « why this rally is occuring ? » Sometime, let’s say it’s not that important to understand what’s going on and I can honestly add, I’m quite happy to read « analysts only partially seems to understand why » as, here, we are also quite surprised about the sudden upward movement.
See the example of Dryships movement on the stock market (NASDAQ)
- On 9th nov value for 1 share at US$ 5.10
- On 11th nov value for 1 share at US$ 13.60
- On 14th nov value for 1 share at US$ 42.86
- On 15th nov value for 1 share at US$ 73.00
- On 17th nov value for 1 share at US$ 11.00
See the Capesizes, they
- started this week at 2’338pts with average weighted TC value at US$16’526
- are today at 2’752pts and US$19’364.
We can almost do the same exercice on all the sizes and all are on the upward movement.
See the Black Sea.
- We heard COFCO at US $14.75 pmt is likely to be for this trade « 30,000 MT 10% CORN NIKOLAEV TO 1SP EGYPTMED 10,000 SHINC / 5000 SHEX (THUR NOON-SUN 8) 27 NOV – 2 DEC » running the tce, bss dely Canakkale, something along the US$ 9’500/10’000 daily seems to be the level.
See the ECSA
- we read 30’000mt grains from Plate to Algeria climbing from usd25pmt to usd30pmt, converted into Time charter equivalent, bss San Lorenzo 6’000satnoon / 2’500tfhex on a modern 33’000dwt loading 30’000mt is leading from Dely recalada from US$ 7’300 to US$ 10’150.
Trust most of Owners and shipping people are looking forward to put 2016 behind us and getting prepared for 2017, if this upward movement is confirmed for the whole december, 2017 might be promising…
In between, should you need a hand to fix your great cargo/ship with a great ship/cargo, don’t hesitate to call a great broker. You know where to find me right?