this could be net revenue on handy ex black sea.

Seen reported by some friends here

« Cargill were rumoured to have taken the Ozgur Aksoy 2011-built 58,410-dwt at Panjin for 4 to 6 months with worldwide redelivery at mid $3,000s for the first 35 days and $6,750 per day for the remaining period ».

Which means my doing some rough math thanks to our famous abacus, bss 6 months period an average at abt $6’000 daily, for a ship to be redelivered worldwide is not that bad for charterers.

Seen also reported by same friend

  • « The Explorer 2012 28,420-dwt was said to be on subjects at $4,750 daily for a trip delivery Canakkale to Egypt».

No mention were the ship is said to be delivered, our books showing her open since 2nd feb in Canakkale… and not proposed again on the market in between. Let’s believe this rate is bss passing Canakkale.


  • « a voyage cargo was apparently covered at $12.15 to Bunge with 30,000 10% grain loading in Nikolayev going to Spain-Portugal range basis 8,000 sshex/8,000 sshex with a laycan of 8 to 11 February.»

I guess some info are missing here… On the bss full da’s bends for owners account, knowing nikolayev is not the cheapest port in the world and knowing nikolayev is under ice conditions nowadays basis 12.15usdpmt the tce is showing a revenue at $0/day. Fixing at tce $00.00/day seems fairly unlikely, just for the privilege of fixing with Bunge and getting back in Continent ! I’m bit suspicious about this fixture said done at 12.15usdpmt bassis standard terms I have to admit.

For sure we have few signs showing owners having lost their November/December 2016 confidence while discussing potential fixtures on « easy » cargoes/trades :

  • 1st :  sign :

In a decent market, terms are discussed together with the freight and most of the time, Freight is the last point to be agreed once all main terms are agreed. In the last few days, we have seen freight being agreed before entering into firm nego, if not then, accepted in the 2nd counter from owners. Then other terms such like laycan/laytime etc. are discussed and quite often finally agreed as per charterers bid.

  • 2nd sign :

Charterers can relatively easily amend a term throughout the nego, impacting negatively owners income and Owners left with no choice than swallowing the loss.

  • 3rd sign : brokers getting blamed for not being able to bring to owners « at least a chance to try to get in the firm discussion ». Sometime while being blamed owners advertising his ship with words such like “she’s in tip top conditions” or “she can load the min quantity” or “she can load the full quantity” or “the captain is a nice chap”… any kinds of valid arguments.

It appears that some owners are now in the thinking mood to put back some ships into layup, it’s probably a not that bad decision to be made for the sake of trying to keep market somehow more balanced in terms of tonnage supply. In the meantime, temptation for owners remain fairly strong to get rid of their ships, by giving the lady under period to some operators. On Owners prospective, it’s often better to have ship up and running against few thousands of US dollar daily rather than having an asset sleeping at the anchorage. On the market prospective, sure putting off ships from the chartering market may help the overall market to recover. Is it the perfect timing for operators to get bit long on tonnage with cheap ships under their period ?

In case you are in the panamax trade, you can find an article here showing « top five panamax bulk trades » with a very nice chart. BRAZIL TO CHINA is the best route ever. I have read the article twice and I’m still wondering what’s Marinelink is trying to say here.

For me best panamax bulk trade, would means, which route is best for the money apparently Marinelink is not as much as « all about money » as I am, if I understand well they’re talking « Ton/miles ». Let’s be positive, it’s still interesting to realize thanks to some experts Destination CHINA is the 4 first best panamax route. (noticeably China to China is the 4th one). If you’re curious, you can find the article here So dear panamax players you know where to send your ships to get them busy and where she’s likely to end up. Dear operators while fixing a panamax on period, make sure China is not excluded from your trading exclusions.

smart-operator (smart operators wearing a tie)

If you’re cleverer than me (I have pretty much no doubt here) I would be pleased to get your lights in the way to understand the chart/article.



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