failing on subs could be a strategy? Nooo!

As we can read COFCO « seeing 22usdpmt and aiming 18usdpmt » we can easily believe this is this cargo seen on the market « 25,000/10 MOLOO BARLEY ABT 52CFT WOG  ROUEN/DUNKIRK/LA PALLICE TO 1-2SB 1SP TUNISIA 32FT SWAD  10,000X/2,000X  1-10 DEC 3.75 ADC », without taking into consideration the stowing factor which seems to us bit short, as French barley is more likely to be around 60’. Anyway, taking a 33kdwat modern dely Gib, redel Tunis basis chrtrs terms, assuming vsl’s going to load 27’000mt, at 18usdpmt the tce ends up at US$ 6’500 daily when at US $22pmt tce ends up at US $ 9’500.

Another comment which we can read on bmti today raised my attention

 « A high amount of failing has been reported in recent business as charters see fit to apply discounts to previously agreed business ».

Really ?! failing on subs can happen once fixed, basis all terms being accepted (money being too high for charterers) and charterers having all their subs in hands but not willing to proceed further as a cheaper ship showed up in between. Then some charterers would not hesitate to drop a ship when another one coming in with few cents less ? How come ! I have been told since I started this business, this can not happen. Maybe time have changed ! Maybe…

It could also be a strategy from charterers when time is getting less in their favor to ‘fail on subs’ just to try to change owners minds and make them losing their confidence and patience. It’s tricky ! and somehow yes very frustrating for all parties involved (putting aside the charterers of course). I won’t make further comments on this specific « failing on subs trick », having right now a ship/cargo on subs, I don’t want to give wrong ideas to my (A1 First class to be confirmed !)  charterers. Waiting for the subs, I feel bit like these men, waiting for their wives, while shopping at Victoria’s secret.

Have a nice evening /shopping if you’re preparing the black Friday.


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