The ones of you being BMTI subsrcibers can find a nice summary of the -almost- over 2016 on chartering. Maybe tomorrow BMTI will send us a nice summary of what’s going to happen in 2017 on BDI, BCI, BPI, BSI and BHSI. Let’s believe in it. BMTI is starting his review with these words :
« 2016 in review – A Year of Tumult and Transition ».
Sure, the ones of you working in major groups have already noticed during your corporate meetings one of the top managers describing the year with this word « TRANSITION ». You need to know, in this circumstances, « TRANSITION » meanings « financial results are far below expectations and the best we can do is to forget about what have just been done and focus on the next plans ».
But one of the synonym of transition is change… I’m not quite sure 2017 will not again be a Transition year for shipping in the sense of everything won’t change in the next months.
On the spot chartering market, if we accept the idea that Baltic Exchange is giving the daily temperature of the market, then view they are off, we can say market going into any directions… For sure, still some cargoes and ships open and all looking for a solution. But Charterers remain in Christmas gift mood, and expecting owners to give away they ships at cheap level, when to the contrary Owners, being also in christmas gift mood, are expecting charterers to add some USD on their fixing level. According to what we see, it seems charterers are more in position to take advantage of this quiet market.