Congratulations to the month of may 2017 for being over and for these wonderful performance on our shipping market.
2nd may 1st June
BDI at 1,073 850
BCI at 1,668 1,430
BPI at 1,140 810
BSI at 849 685
BHSI at 550 449
We are back to market levels seen back end jan / beg feb of this year and this is quite exciting right ?
Handies from black sea to Mombasa (a lovely trip full of surprises for the owners), being covered at $6,500 daily with redel Durban is really a poor number. Unless owners, making a trick and rather than going to Durban once finished and will move towards SEASIA and FEAST to go after the money as the only handy area which seems to be somehow bit active is the FEAST region : making owners open there raising up their ideas for a trip back to Atlantic and to the contrary, maybe ready to discount to get close to this area. (Not sure DISCOUNT is a word which can really apply in our business.
In nutshell, our world is upside down, or in geographical terms, Eastern West.
Today’s BDI is reporting “Mykonos Bay’ 2009 32411 dwt dely Santos prompt trip redel West Mediterranean $9 ,000 daily » which shall bring on voyage basis to Algeria with 7000x/5000x a freight close to $20usdpmt.
As you may have noticed we mainly have charterers playing on the agriproducts segment, grains, rice, sugar and doing also bit of ferts from time to time. We all know this is not the core drybulk market driver eventhough agriprods remains a decent cargo providers for ships.
On a business prospective, I’m not sure if we shall be happy when we read everywhere countries -being used to be major agriprods importers- improving at quite a quick pace their production capacity. You can find here a cereal market study done by E.U., please open and read it, we’ll have the feeling all the taxes we pay are enabling all of us to have more knowledge.
Also when Companies prefer to invest billion in US $ to improve local production rather than buy from outside, is not neither a great news for us
The whole grain logistic process needs to be reviewed and this seems to be the plan, Invivo has a plan and when some setting up strategic plans « from the farm to the fork » (which is Dreyfus strategy if your remember well), Invivo’s getting rid off the farm concept planning to bring countryside in town.
All upside down, I told you.
Wishing you a good afternoon/day and if you have a ship to put into some cargoes please let me know, shall be fun to fix.