dull and lull words of the week in shipping

“dull” is going to be elected the word of the week by BMTI, unless it’s “lull” (for the ones, like me, not being English speakers but more 100% froggies (“lull” = “Accalmie” and “dull” = “terne”). Dull does not necessarly means boring, except in oregon.

Continent/baltic:

Scrap activity is not enough to keep 5 digits numbers on the handymaxes or supras to end up in EMED. unless, again, Black Sea destination is the place to go. Which still again has to be proven. Grains players from this area are taking advantage of this gloomy summer and managing to save $0.25 pmt on this rouen to algeria stem compared to the last done which was 7 days ago. Moving to 3 Nigerian ports ex Klaipeda, according to BMTI, with 40,000mt, is not even worth a small premium, as Olam offering $18/mt (with free da’s at disch I strongly believe). A premium, if there is one could be “be happy I have a cargo for your ship”.

Black sea:

no much changes from what I can see. Still a fairly good demand on Supras and bigger ladies but Handies seems left aside of the road.

USG: quite comparable to Black sea in terms of market sentiment, except the fairly good demand is on the panamaxes and players hoping for Ultras and Supras to be contaminated soon.

ECSA:

we got the confirmation from experts (namely BMTI again) comments I made yesterday about the “northern Confidence” fixture which is perceived “outstanding”.

 

About commodities,

Grains, after French poor harvest last year, 2017 crop is back to standard level in terms of qtty. The humidity and floods seen in France has moved to UK and their crop is likely to be very low. this was mentionned here 20 days ago

 

about 2nd hand market,

Jp Morgan which we have seen buying “en bloc” setaf ultras earlier this year are also reported buying the 82kdwt “united World” japanese built in 2013 for $21.3M.

Shall we expect anything for the next couple of days this week? I would say it really depends who’s most in an hurry to enjoy a long week-end, as most of the catholic countries will be off on Tuesday 15th aug (and so doing the bridge on 14th aug).

Don’t worry, we are not in a rush to go to the beach, we’ll be here to do the recaps while you’re enjoying a spritz.

rgds

Jerome

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