market fundamentals…

No much changes in the main fundamentals on the market. The little ones (Handies and Supras) have not finished they rally yet and Atlantic being the lead dog. Worth to notice today’s BHSI, HS3 ECSA to Skaw passero gaining 550points and heading towards the 13’000 mark while HS4 USG to Skaw Passero, still on the upper movement with +279 points and being today at 14’350. Lack of tonnage available in these areas are counter balanced with quite few (too many ?) ships being open in the European Continental area or
West Med. Counting something like 50 handies circulated in our system open Cont/ Baltic/ Wmed until end december on 24’000/40’000dwt. Looking at commodities on the market for handies. Grains seems to be feeding the USG and ECSA when Scrap and Fertz are from Baltic and Continent.
Black sea seems to be cooling down a bit, according to our understanding, ports and grain berths are fairly well congested. On the bunker, interesting to read that « OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut [?] Middle East producer club OPEC pumped about 34.2 million barrels a day of crude in November, 500,000 bpd above OPEC’s official estimate, which was already a record. » leading to a price down on the barrel by something like 1.3%. On the charterers/ traders world, Invivo -french cooperative – have announced putting some investments in Brazilian facilities and local business to diversify their tradings and become more active on the corn and soyabeans. Brazil still, Nidera seems to be missing US$ 150m in the accountancy of their local division. See article here,  US$ 150Million hole

So when one says “There are a lot of opportunities in Brazil because there’s a lack of financing,” the other lost somewhere “US$ 150M”. Curious about invivo’s investments in Brazil? the full Bloomberg article shall be on air by tomorrow, and let’s hope Invivo people won’t find out a multi-million dollars hole in the facilities in which they’re willing to invest.

Have a nice evening.


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