with $13 in your pocket can you buy freight for 1mt of wheat from Hamburg to Morocco?

To the question above the reply is not really, maybe if you have $400,000 in your pocket you can move 30,000mt but here the economy of scale is applying.

Talking about continent :

Bunge talking 11/12usdpmt for 30,000mt grains (wheat?) from Hamburg to Morocco for info, at 12usdpmt bss 8000/5000x this would give Time Charter equivalent at $6,300 dely skaw. We believe market in such area is more around $7,500 daily (at least), which would bring this trade at something along $13.50usdpmt. But as usual, charterers may find a super cheap ship and get what they are aiming for.

 

Black Sea :

Picking up slightly eventhough rough local winter conditions freezing the water and seems also to be freezing traders willingness to take positions without being 100% sure to be get the stem at loadport in time. I think this area needs to be treated with some prudence, view the grains production from Ukrain and Russia, sure more cargoes to come and we might get a big boum of cargoes on the market coming with the defrost. If this happen, eventhough the ice won’t melt in 1 day, we may expect a local market going up quickly and heavily.

 

ECSA :

Has been center of owners attentions lately, with very decent numbers done on spot prompt tonnage, Gant Flair (index 28kdwat type) vessel is reported done yesterday at $8,500 daily dely Recalada. This is $800 above yesterday’s HS3 level. At $8,500 daily this is leading to mid 20usdpmt a similar stem as the one mention on top of this report ex Hamburg (upr to Morocco). For the traders willing to compare the pricing sub origin.

Sure ex upr better not to be in a rush for charterers and surely they’re now hoping for a post end feb surge in this local market. On the grains, the wheat production in Argentina is apparently 3Million tons above USDA predictions (which were around 19Million tons). The wheat season from their is probably not over yet then.

 

Bunkers:

You can check attached market movement. Alternatively if you fancy bit more info, you can go here also http://gcaptain.com/asias-floating-oil-storage-sets-sail-as-market-slowly-tightens/

Have a nice afternoon, evening, week-end.

 

Rgds

Jerome

 

 

 

 

 

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