In case the info passed over you without you noticed, St Lawrence St Way is back again in business since last Monday (20 march 2017). Don’t believe it’s already like navigating in the Elbe River or Amazonia look at the weather conditions which were registered in Quebec on 15th march. (picture above st law river floods in march 2017 at Quebec) still in needs for hot owners and brave crews (or vice & versa) to face this tough conditions
BMTI offering an interesting summary of the weight of this area (including the Great Lakes), volume of cargo going through these region is said to be likely around 35/40Mt. If you wish to get more information about this area, you can go here alternatively, you can also ask us, we are happy to say we have some good reliable friends sitting there and will be more than happy to be your transport/service provider from/to this area.
Appart from that, generally speaking sentiment is remaining bullish in most atlantic areas on the handies but USGulf seems to be facing kind of over tonnage supply making freight levels softening quite a bit. This is not perceived on the indexes yet, neither on the fixtures from blsea/med/cont towards USG, ex Canakkale to USG done at $6,200/6,500 daily and to my understanding the daily hire are relatively strong on the HS2 mainly due to demand seen in the loading area rather than because owners anticipating a kind off a cooling down in USG. Still few weeks to go before St Law river will become friendly again and will be considered as free of ice and open for any kind of ships.
Ex Continent and Baltic, fertilizers movement are hoovering somehow the ships from Central Med, leaving to owners open there, the choice to go out for money ex Continent/Baltic or BLSEA. Still bit early to conclude if this is a temporary movement with fertilizers traders in needs for March candidate or if this is going to last longer. Ex Blsea, the grains requirements and fertilizers also shall last also in April.
From ECSA, needs for tonnage is here, with somehow strong rates but the challenge for owners is to find the firm cargoes. We understood spot prompt tonnage fixed and failed twice before finding the right stem. In between owners had to keep same daily hire for a repositionning in WMED when the 1st stem they tried (and failed) was heading towards ARAG.
On the owners’ side,
Marshall Island flag is claiming to become the 2nd most largest country of registry, Liberia used to be the 2nd one (behind Panama) and Marshall Island has been boosted by Chinese and Greek owned tonnage requests. Unfortunately, nothing is mentionned in this article to explain what are the real pros to register his ship in Marshall Islands rather than in Liberia. Sure, it’s probably nicer to have an office in Marshall Islands (rather than in Monrovia (but this remains a subjective opinion)), it’s also a kind of a journey to fly to this destination when you’re sitting in Europe. Checking on RMI website, they provide a list of « advantages to working with the Republic of the Marshall Islands Maritime registery », few of them seems surely to be strategic in owners decision, such like :
- Inquiries receive prompt responses and owners and operators may communicate directly with the Registry (in 2017 isnt’it a minimum ?)
- IRI has over 60 yrs of experience administering Maritime and corporate programs. (back to old/good story/difference)
Compared to Liberia offering « The pre-registration formalities are user friendly » (always better than painful, long and unfriendly formalities right ?), it seems it’s not enough and they need to improve their offer… Come on Liberia, you can do it. Maybe there are few other surprises in the Marshall Islands registery but to be disclosed against firm interest probably.
Have a lovely afternoon, day, week-end and we remain at your disposal, working SShinc, as always, weather permitting only.