Capers have found their master when it comes to volatility

Mixed sentiment again on the real chartering life on the handies in the med/cont/blsea with on one hand quite few fresh enquiries seen but still quite few ships still open spot and trying to get a decent money for their next employments. Let’s say Owners are confident market shall move up when charterers do not see too much reason why they shall consider higher rates than last week. Poker skills (not to say big balls, I’m trying to be witty some times) shall once again make the difference. From Black Sea it seems the confidence and upward on the Supras and the bigger sizes has not crossed the Handy barrier yet. Reading various reports on the commodity, the postponed availibility of the grains in Azov Sea and black Sea silos is one of the reason why Handies are not yet buoyant.

From Continent, we heard $16.10 was booked end last week from Rouen to algeria with 30,000 5pct bulk wheat with usual terms, could guess the $0.10 in the freight was a kind of a battle and meant few phone calls from the broker involved to try to get the best of it for both counterparties.

From USG, on handies still, Glencore trying to book a usg to New-Zealand cargo and $4usdpmt are appart from chrtrs ideas and owners’ ones, while very quick biz from Jamaica to ARAG was booked close to $1 below what charterers were initially having in mind.

Worth to talk quickly about Bunkers, Ecuador being in needs for money announced they’ll start increasing again for their Oil production. Will this be a domino effect from others OPEC’s member who all (or most of them) need to urgently improve their income. As a result we can expect Oil price to get down further, which again could be a good news for the shipping Industry at first glance. Not sure this is a great news on the long run, knowing most of the oil producers are also big commodity importers. Wheat rarely grow in Petrol fields. How will these guys finance the importing of goods is the next question? the one after is if they cut down their importation, they’ll need less ships in their ports right?

Finally doing a bit of “pela-gos-sip” according to Dailymail, George Economou, one of the shipping magnate, the one running DRYSHIP, might need to give away $240million to his ex girlfriend. I let you read this sordid story and to check, how worth is DRYSHIP, according to the nasdaq stock exchange here , not much. As a comment, we are saying Capers is the most volatile segment in our industry

Min max value in the last 12 months 556/2,765

Min max volatility in the last 12 months (% from Act) 2,209 (237%)

Can we say DRYSHIP is quite good also about volatility ?

rgds

Jerome

 

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