According to our information, the ship which has been fixed for the Dunkirk to tunisia stem mentionned fixed for 26,000mt of bulk barley at us$ 18.25 is ballasting from Rades, perfect position being somehow in the middle of nowhere and anyway ballasting distance to swallow either to go to Black Sea -about 1,00nm- or Dunkirk -about 2,000nm -. We did not run the time charter equivalent on this specific trade, but grains France to West Med is being discussed somewhere close to the US$ 5,500 daily basis delivery passing Gibraltar. Something like US$500 above market level back on Valentine’s day. Scrap continent to East Med, owners finding proposals at around US$7,500 daily.
Ex ECSA, according to the man who fixed it, a 28,000dwt gone from Plate to West Med at $8,500 daily. Which is a number back to end January, and quite above what Indexes are showing. BHSI on this route is today at US$ 7,714 + 214 vs previous day.
For sure the indexes not showing much fixtures done in the handy segment. And momentum seems to be gaining the atlantic region on the supras and bigger ships.
Few market reports or market on line news are getting kind of excited because BDI is back above 800pts, level on which we were above back one month ago. Either market players are fans of the Method Coué, or they are getting less and less demanding and any kind of good news has to be taken (better than nothing), or which is probably the most rational explanation. Market players was very worried to see market drop in the last month and was so concern to get back to february 2016 level, then when they realized it shall not happen, everybody can have a breath. For your records, on 9th feb 2016, BDI was at 290points we are today at 856. Some positive feelings are always good to take, so please have a read through this on-line opinion : market is ready for recovery! Really??
For once I’ll conclude with a news related to owners and charterers. As you may have noticed already Bunge is said to be committing (not sure if this is the right word) with Barhi shipowners, said to be « one of the largest shipowners in middle East » bunge and barhi love story
Taking the news without digging in for more details we could try to have a first conclusion : Charterers after chartering in long period ships to cover the market surge back 10 years ago, are considering a new strategy when it comes to invest into ships fleet. But knowing barhi is having on their side a Jv with arasco could it be Bunge objective to get a better access to ARASCO cargoes and commodities needs and putting a big feet into this trading area ? I’m not a PriceWaterHouse consultant but even being a broker, this assessment could probably make sense.
Have a nice day/afternoon and being a broker we give free advises and opinion to the chartering market, hoping this is giving you more willingness to fix your cargoes/ships via us.