there will be blood at sea?

nicer to put a picture of the cranberries harvest, looking like “blood at sea” rather than real sea coloured by whales blood which happens once a year also in Europe.

10 days without any market reports from here, in 2017, with Mobile device, digital connections seems like an eternity right ? I’m sure you all managed to deal well with the market eventhough surely you missed some of the spice of it (at least I like to believe you missed a bit these reports).

Not much movement on the average indexes in the last days (if not checking too much into details).

One market expert was claiming on july 21st « the BID needs at least an extra 1,300 points… to make sense ». I read very carefully the demonstration proposed by mr John Faraclas but unfortunately I could not find any rational behind this « 1,300pts needed »… could have been 1,299 or 1,301 (or 1,000 or 4,000) would have been the same. Maybe your falcon eyes will be better than mine. It’s anyway worth to read to have a summarized overview of the Geopolitic. Find it here

Assuming 1,300pts is the right figure, to save us all from Bankruptcy, we need bdi at 2,277. Try to remember this taste, last time BDI was above 2,000 it was back in early December 2013.

  • Petrol was around $100 per barrel today about half this price
  • Gib IFO at $585 / MGO at $929 today at $312.50 / $489
  • BCI around 4,200        today at 1,138
  • BPI around 2,000        today at 1,146
  • BSI around 1,500        today at   798 (change of index size)
  • BHSI around  810        today at   500 (change of index size)

At that time 32,500dwt was obtaining for 1/2 ll min 40 days aps Sw pass redel ECSA in chop skaw Gib US$ 19,200. When today, owners would hardly get more than $10,000. Capers from Dampier to Qingdao done at usd 13.60 / when today it’s worth $5.55

On Today’s market,

on the grains, Black Sea still not delivering the expected surged on the handies despite quite a fair demand is seen on the supras to go in Pacific / Indian ocean. Charterers getting around $8,000 passing Canakkale via blsea redel West Med. Spain will be a busy destination as we could read the expected grains crop being quite deceptive there, a 55kdwt was covered (last week ?) at $9,000 for redel Span Med.

Continent is giving quite good numbers for Handymaxes / supramaxes (if we take +10,000 being an ok level)  keen to load Scrap to Emed. On the grains, we have seen Spectrum (who are these guys by the way ?) fixing mv ‘Crux ‘  dop Brake spot w/ grains to algeria at $9,500 last week, which based on usual terms loading in Rouen shall give a voyage equivalent at about $17.75 pmt which we recon is on the high side. For early august shipment, the time charter equivalent is more around $8,500 on daily bss basis same terms.

Usg to Uk 33kdwt can hope to get $8,000 daily, while 34,5kdwt got $10,500 to end up in East med with Scrap.

Talking about bankruptcy, Sharks are getting around Noble whale who has seeen his share value losing close to 49pct today. There will be blood at Sea !  as Takis used to say (about twice a week if I remember well).

Have a nice afternoon.

Rgds

Jerome

 

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