drybulk handies week in summary and the flowers are for Mum

Few info to conclude this week :

Ex blsea : for handies dely Canakkale with redel East med, owners hoping to obtain $9,000 if not then $8,500 when charterers are more in $6,500, try $7,000 mood. To Egypt, handy stems are concluded  in the $12.50/13.00 pmt on standard terms. To west Med, As mentionned yesterday, stem from BLsea to Span med are worth around $12/13usdpmt from cheap port in black sea. From nikolayev, same trade shall be concluded close to $15,00usdpmt.   The industry is hopping to see another kick off for Grains ex Russia, which is likely to happen but shall impact more the Supras and ultras rather than the Handies.

Ex ECSA : Handies open West Africa are coming with cheap numbers to cover another similar run, leaving the owners open locally quite speechless as they fail to understand how the economics can fly. On a 55days duration biz, concluded on voyage, from Wafr to Wafr via Argentina, time charterers equivalent on dop basis is hardly giving more than $5,000 daily revenue (or $9,000 on aps bss with duration about 40 days).

Ex Continent : as mentionned yesterday, Scrap is helping the local activity to remain relatively good for owners of handymax/supras but the situation is quite different on the smaller ladies, ships from 18,000dwt to 28,000dwt are left with poor alternatives. Stay open and wait for some decent money cargo, in which case, owners to be prepared to wait for quite long period. We noticed one being open spot for almost 3 weeks now. Or go for some business and be happy to get an equivalent around $4,000 daily, if everything goes well and right.

Ex USG : the pictures is looking bit better for owners of this handy segment, this has not really impacted the index  with the HS4 getting below the 8,500mark but the physical market seems to be facing some kind of shortage of tonnage and then owners getting more bullish. I shall say relatively bullish, as the rates as tce equivalent remain around $8,500 daily for this route. We shall not be surprised to see a market revival from there in the next week.

Owners at first sight welcoming the oil prices getting down again… until we all realize countries which are exporting oils are the one importing dry bulk commodities… importing if they have the cash for it.

This has been a fairly slow week, with ascension day celebrated in more than 30 countries and quite a lot of players took a rest on Friday. This week-end Ramadan is starting in Muslim countries, -wishing them a blessed Ramadan period-, next Monday, UK, USA and few other countries are closed. Movement shall not be expected too much before Tuesday.

We talked a bit about Glencore this week, you’ll find here, the amount they’re ready to pay daily for a 14/17 months period on a Kamsarmax

reminding you, you can find a summary of the week activity on all size here

have a nice week-end and mum, if you’re reading this report, the flowers are for you, happy mother’s day on sunday







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