making friends is our business?

This statement is true, not only for the beer industry but surely can apply into the shipping business. We need friends to make the deals happen, we also needs countries being friends together to make the commodity moves from port A to port B. We’ve been told Russia and Turkey are friends again and one can import cereals from the others without facing high import taxes. This will surely impact the black sea coaster market fairly quickly and quite probably also impact chartering market on the bigger sizes. As a matter of fact, black sea area is quite difficult to read right now on the chartering market. We can see quite a fair amount of cargoes requirements meantime Owners facing difficulties to bring freight up. Quite few supras, unwilling to end up in SEASIA tried to book MED/Wafr requirement and were ready to discount themselves to get the cargo. As a comparison, supras to wafr are ready to swallow $10,000 dely canakkale for a 40 days trip to West Africa with Grains, when same destination, Dop Wmed is gone at $11,000 daily (probably on clinker).

From the continent, few grains requirements are in the air for handies to Wmed mainly, when the handymax/supramaxes are enjoying a decent activity on the scrap and still fertilizers.

USG, is getting bit of momentum, enough to bring back confidence to owners while ECSA still facing a downturn correction which according to lot of players is somehow an expected movement from the market, as many were failing to understand and explain why ECSA market was getting « rocket high ».

If you’re wondering what’s going on on the commodity side, in short and sweet on the grains, in northern Continent farmers are all focused on the weather, the rain, the freezing which may have some impact on the quality/ quantity of the crops to come

Rgds

Jerome

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