no index but still able to find finger chocolate.

No index today to help us having a clearer picture on how the market is moving. Good news, not much movements seen or perceived on this Good Friday, being off in quite a lot of the countries around the world. To provide however some info,

  • we have heard a 30,000mt bulk wheat stem from Rouen to algeria with usual terms 10,000x/2,500x prompt with 32’ at discharge has been done in the $18/18.25pmt region. Which is remaining above the last done, eventhough charterers surely took advantage of Owners willing to have their ship covered before the long week-end ahead as the ship was apparently just off his previous similar trade and starting to ballast toward Gib yesterday. This freight obtained is giving a time charter equivalent to owners somewhere close (but still below) $7,300 daily basis passing gibraltar, alternatively $9,250 on DOP basis.
  • This to be compared with mv ‘Annecy’ 32,000dwt built 2007 ballasting from Algiers and being fixed at $14,000APS Halmstad (Sweden low baltic) daily for a tct with scrap from baltic to Nemrut. Sure scrap is worth a premium but surely also the repositioning in Nemrut shall be a better one than ending up in Algeria
  • As a comparison, quite similar ship open in Dardanelles is able to get dop basis $9,000 daily for a Black Sea to Egypt (grains?) trade which tend to show, this on-going business to Algeria is still remaining a fairly cheap alternative, but quite soft and smooth execution also.
  • On the ECSA, supramaxes are finally able to secure DOP rates from Wafr/safr for trips destination to Wmed/Continent. We undersdood a modern 58kdwat managed to get fixed aps recalada while coming off Safr  and to be redel in West med, got fixed at $16,000daily.
  • A supra 62,000 fixed dop ghana via ECSA redel Skaw/pass at $13,700daily. Quite similar ship dely DOP Dakar got fixed at $14,000 for similar run. From USG Umax  again obtained DOP touch above $15,000 for a petcoke stem ending ind Med, with Grains, the daily value off the ship is down touch above $12,200usd daily.
  • On the S&P side, again couple of setaf supras are said to be sold en blocfor $24million and second hands prices for the ships are getting momentum, to the point it will be a better bargain to order new ships. Main difference being obviously the delay in the delivery of a 2nd hand ship compared to a new building.

Appart from chartering or S&P, the 2 survivors testimonial we have seen earlier this week, seemed to be the right ones, it’s today mentionned here : According to Equasis info, the ship mv ‘Elpida’ which were first on site to rescue the two mariners is under Greek management, Astra, proving once again and eventhough not needed, the Owners Community have a deep respect in fundamentals maritime traditions.

Have a nice Easter week-end and we remain at your disposal







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