Awards season has started, with Lloyd’s list award ceremony held yesterday . Great opportunity to check if your tuxedo is still fitting you nicely or if you have been to unreasonable lately by celebrating market’s rise. To my opinion, whichever the market shipping people are anyway well known for their abilities to find good excuses to have few drinks, awards season or not.
BDI, reached above 1,500 on 22nd september and is now back already below 1,400. With no surprise Capers are the big loosers, reaching 3,173 on 25th sept and now back to 2,824. That was quick and to be positive it was also welcome. Finally, eventhough the big mamas suffering for slower demand (surely from the chinese), this up hill movement is still benefiting to the handies. It’s obviously difficult to be 100% sure about the link in between Capes and Handies, what’s sure, handies are above the 600 mark (616 precisely) and last time BHSI was above this level on the long run, we need to fly back from Sept 2013 to March 2014. Picture was literally different with at the time BMTI writing (on 20th sept 2013) “ECSA Remains a graveyard with number of prompt handysize vessels growing by the day. Last week a 33kdwt got fixed from N to SBrazil at US$ 8,000 daily, with owners waiting for 13days to deliver the ship.” When today, Handy segment is mainly driven by ECSA market.
elsewhere, yes, 22$ Rouen to algeria for 25/30,000mt wheat on usual terms is a fairly high try, which is what owners’ trying to get, not what charterers are ready to pay. Meantime Owners managing to get +$10,000 daily for transatlantic biz and good repositioning, why bothering getting below $9,000 for sake of feeding northern Africa? Usual poker game is back.
Doing a bit of prospective, interesting article here about Iron Ore expected Chinese demand for 2018,
Said differently, Chinese Government campaign against domestic pollution deciding to close local mines and import Iron Ore from abroad. Hopefully, our lovely Capers being more eco than the Chinese Iron Ore extraction process.
Chinese again, looking like they’ll need more and more Soybean, keeping busy the Panamaxes and supras. See here
finally, today’s is #WorldMaritimeDay, Eu Commission proposing some nice shipping pictures, and much to my surprise, no seafarer or shipowner’s wearing a Tuxedo. While the World Maritime day today’s motto is “Connecting ships, ports& people“, maybe IMO could help Puerto Rico by discussing with corresponding authority to get rid of the Jones act, to connect food to locals…for once, not only nice words but connected actions.
At Pelagos, everyday is World Maritime Day as we do our best to connect ships to ports and should you need to consider Puerto Rico in your destination, we have the know how also.
Finally, yes don’t worry you’re looking great in your tuxedo. Really, I mean it.