Mv ‘Inoi’ 2010-built 32,301-dwt is reported fixed at $8,000 per day basis delivery US Gulf to Algeria with grains. Taking Houston (being last dischport for the vsl so no ballast) with 7000x in to Annaba with 32’swad and 2500x out, this is giving a voyage equivalent somewhere around $23.50/24.00 sub vsl exact intake. Same destination, same receivers from northern continent, voyage is worth 18/18.50usdpmt, from French continental port, this is worth somewhere between 15.00/15.50usdpmt. To make the whole world tour (or kind off), from Ecsa, we know a modern 35kdwt has been covered dely Recalada to East Med in the region of the mid $9,000. For purpose of making voyage equivalent to Algeria again, bss 1sp upr with 7000satnoonshex, the freight is ending around $30pmt with 32,000mt loaded. Back to USG to Algeria again on 60,000mt, freight concluded is said to be 21usdpmt on TBN bss 10,000x in from Corpus Christi.
Businesswise, it seems all actors trying to get bigger and bigger. Reminding us about the « frog and ox » fable. On the trading side, after Noble as mentionned yesterday which may have became bit too big, the Breaking News is now that Glencore is sniffing around Bunge to find some ways to cooperate. You can find some info about this here and about Glencore’s wish for expansion here
Same applies on the shipping side, Pacific Basin, to name them, started with 19 owned ships back in 2004, today, they’re owning more than 100, and taking delivery of a brand new Japanese built 54,570dwt mv ‘Osaka Bay’. Should you wish to read a bit more about this owners performance, they’re proposing their 2016 annual report on line, here
As we speak the Frog and ox fable might be the overall main reason for a depressed shipping market. Getting more and more ships at sea (to get bigger than the competitor ?) without wondering if the market is able to swallow such tonnage available. more than 300 years has passed since Jean de La Fontaine committed this fable and we still have not learned our lessons.
Does the same target apply in the brokers house ? not sure we’ll need to ask to Clarskons share holders, for sure Pelagos’ main focus is right now not to become bigger which obviously shall not prevent us to make our best to become better (if doable).
Have a nice afternoon.