Who knows, maybe atlantic market on the handies was awaiting for Jerome to take a week off to gain some momentum.
According to BMTI (and also from what we can see), BLSEA handy market is sparkling, with grains being in the starting blocks for the new crop and charterers seems to have secured 3 ships in a row for 35,000mt of bulk wheat ex Romania to Arag in the 13.00/13.50$pmt range. Prompt owners open in the area have no shame to propose their nice 34kdwat at time charter equivalent at $10,000 daily bss passing Canakkale. This seems to us bit early and ambitious, meantime charterers’ ideas are already giving something like $1,000 more daily compared to last week.
Continent is showing somehow similar situation, taking the Rouen to Algeria, all year long business (or so) as a benchmark, time charter equivalent for owners are now getting somewhere close to $7,500 daily bss passing Gibraltar while 1 week ago, it was more somewhere around the $6,500 daily mark.
Argentina, we understood from close friends, 39,000dwt being « on subs for a trip from River Plate to Algeria in the mid $12,000 daily »… converted into voyage terms, with let’s be crazy 33,000mt loaded on this ship, bss 7000satnoonshex/2500x this is leading to freight at $33.50/33.75 pmt. According to BMTI, charterers decided to ballast their in-house ladies from Gib and respectively Wafr to cover their next requirements. Nothing really new to ballast from Wafr towards ECSA I must add. Also this decision is surely helped by the low bunkers prices being seen lately. Some are saying (Goldman sachs) the Barrel of oil might get around $47 usd per unit for more than a while if OPEC is not getting more aggressive in their production cut plan. See more here
Finally, I often mention in this report difficult life faced by the seafarers and the risks they are facing on daily basis to transport safely goods from port A to port B. We shall not forget, in the grains industry, we all need farmers to grow, harvest, collect the grains and make them available in the ports’ silos, their job is not neither the safest one in the world. If you doubt it, you can find some info here. (where I have to admit, I’m not 100% familiar about this media politico.com, but like to believe they are serious guys).
Wishing you a nice afternoon, nice reading and let’s fix again ;