Overall owners sentiment is to be optimistic in regards to market evolution. Earlier on Monday I was passing you a link talking about a « red hot summer ahead » analysis made on the FFA’s and the paper.
On the physical market, hence taking indexes (which shall be reflecting the fixtures done eventhough indexes are often told to be late when market moving one way or the other). On the BHSI atlantic routes
Comparing index 7 days ago (22nd february) with today’s level :
- HS1 Skaw pass to ECSA was @ 4,005 / today @ 4,775 + $770 (+19%)
- HS2 skaw pass to USG was @ 4,071 / today @ 4,746 + $675 (+16%)
- HS3 ECSA to Skaw pass was @ 7,511 / today @ 8,036 + $525 (+7%)
- HS4 USG to Skaw Pass was @ 8,736 / today @ 9,525 + $790 (+9%)
Checking ships available on the continent Baltic, still quite a few arounds meantime owners which are coming with reasonable level up are getting fixed fairly quickly. We are seeing quite few stem of Ferts from the baltic to USG/ECSA.
Optimism is anyway needed on owners side, as such and according to Tradewinds (if you have the article, don’t be shy and share) « Norden targets return to profit in 2017 », Pacific Basin were reporting something like $86millions loss for 2016 (full press release on line here ) and interesting to put the figures together… despite the loss, Pacific Basin « Handysize TCE earnings outperformed the market by 34% ». (Last year was really bad!)
Also for those of you wondering how it looks like to put the hands in a newcastle max engine… you can have a look here. And dive into the engine
Next time, I’ll try to find you a 360° tour in a silo full of brewing barley, you shall also be amazed.
In between, should you have cargoes and/or ships looking for a loader respectively employment, you can let us know and we’ll roll up our sleeves to make it done. Clean.