1983… is it long time ago? let’s check and talk a bit about today’ shipping activity

Good day,

Long time no speak. Shipping and chartering market seem to be in a muddy mood and as always when it’s like this, very limited information on done/heard/seen is available.

Generally speaking a fairly slow start of June is experienced here with much more owners asking us, « what do you have for my ship ? » rather than charterers being wondering how their stem can be covered. Noticeably, when one of the biggest brokers in the world is calling us to raise our attention on couple of spot ships, some can believe it means they are struggling to find suitable employment, I would rather think, they see Pelagos being a great broker when it comes to niche cargoes. Up to some extent I like to believe these guys are right.

On the handies, ECSA seems to us the only area in Atlantic where owners can find some decent employments.  According to info we have, Argentina to Wafr has gained more than $1,500 daily compared to 10 days ago. Market players focusing on this area being kind of surprise about these levels but surely limited amount of prompt ships around are giving owners confidence to raise up their initial indications.

Sugar requirement are starting to be seen on the market, but again chrtrs flexibility on the size, can do Handymax up to Supramaxes, helping chrtrs to keep ideas below $10,000 daily for a redely MED/BLSEA.

EX CONT – handies-

Very little activity and seems the grains players are in between the 2 crops. 2016 crop is about to be over while the new one is not expected to be in the silos by mid july and the scrap activity from Baltic/continent to Emed is remaining fairly active, but again chrtrs looking for 40,000 and bigger ladies.

EX BLSEA – handies –

Looking like quite similar situation as in Continent/baltic with too little activity proposed to owners to keep freight to the level of last done.

Wherever you stand in Atlantic, tough time for owners of old handies index type. Ships being around 28kdwat are struggling to find employements and when they have some, they are hardly competitive against the 34/35kdwt being around.

In the grain world, Bunge’s share price is revised up, since Glencore is around.

In the shipping world, Philippe Louis Dreyfus is passing on the baton of Bimco Presidency’s to Anastasios Papagiannopoulos CEO of Common Progress. More info here.

Worth to notify, Anastasios (I call him Anastasios I’m sure his find with this, knowing it’s easier to spell than his name) is setting 3 clear themes for the next 2 years to come in his President of Bimco chair :

A/ Promote digitalisation accross the industry

B/ Reduce the administrative burden for the ship’s master

C/ Encourage successful implementation and effective enforcement of new stronger environmental Regulations.

About environmental solutions, Anastasios will probably don’t need Mr Trump’s help. (or he may need for it but might not get it).

About A/ and B/ shall come together most probably. Also bare in mind Anastasios, started at Common Progress in 1983, it’s actually before the first Macintosh hitted the market.

Or the time when IBM was saying in their commercials  « simple procedure getting gigantic problems » (but thanks to their IBM Low cost computer, life and business is going to be easier)

Personnally speaking, in 1983, I was still playing lego with my brother, listening to Eurythmics hit « sweet dreams »… Anastasios were probably already

« travel(ling) the world, and the Seven Seas, Everybody’s looking for something. »

(David A. Stewart were already having his own computer connected in the cow field)

some of the readers in the list were probably not even a concept in the parents’ heads. And you what were you doing in 1983 ? already thinking about digitalisation of Shipping ?

have a nice afternoon

Jerome

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