Can somebody tell what’s going on on the chartering market ?
- As a French, saying « the shipping world is awaiting to know who’s going to be the next French President before moving in a way or the other» will probably be perceived like being bit arrogant, right ?
- As a Bimco member, saying « the shipping world is awaiting to recover from 1st May being off as a labor day in more than 115 countries across the world» will probably be perceived like being bit short analysis, right ?
- As a Broker, saying « market’s showing overall slow down due to surely lack of tonnage demand » would be perceived like being a nice truism, no ?
For sure, today’s index, absolute no size, no route is managing to be in a positive trend. The handy champion’s route, famous HS3 is losing close to 1,000points in couple of days. Handies weighted value is today worth $7,868 when Panamax value is at $8,428, new supras (58kdwat) are worth $9,240 daily… Only conclusion I can propose for charterers, time to fix Panamaxes. It’s a bargain. Also for those of you sitting on a baunch of money, maybe it’s time to invest in DryShips share, which according to splash247 has « lost around 99.4% (not to say 100% ok) of their value since the start of this year. $100,000 invested in the stock a year ago on May 4th 2016 would be worth just $12,72 today »… The thing is, if market decline is gone for a long run, surprisingly, it can still get worth ! Full article here
Investing in traditional oil Companies, does not seems neither to be the best idea, as today Brent oil price is getting back to the level it was during Nov 30 2016 Opec meeting in Vienna (when Opec members decided to cut down production to help oil price going up…)
And appart from these clever advises, not much emerged here today on the fixtures/deal done. Then, what about investing in Coal mines ? nope not a good idea neither
That’s all for todays good news.