Here we are, almost! Today’s all index are at the best flat, if not flat under decline. This is likely to be the firstfruits of the week ahead of us. Just check the world holiday calendar for next week in case you’re still optimist. To be bit pragmatic, this cooling down of the market shall also mean fixing ideas from both parties shall be bit closer at first sight and not only the urgent cargoes will be covered but also the ones being on the market for a while on which there were no way to make a match until now.
Owners shall any how remain confident, figures obtained are still quite ok, on the handies, the
34kdwt well name ‘Atlantic Treasure’ seems to have managed to secure about the same money for a Dop Wafr redel Skaw/passero range via Ecsa as when she failed last week. Ie somewhere around $12k dop. From Continent and Baltic, we remain still with a unbalanced situation with more requirements seen compare to tonnage available, making the latters being fixed quite quickly. Understood a 34kdwt got fixed around $12kdop Baltic for redel Arag range.
ECSA, which has been blasting in the last week, may become bit easier for owners, according to BMTI, “South Africa Market is in decline with an “Armada” of tonnage said to be in ballast from India. Easy to bet, a good number of these ships won’t make a stop in Safr but will head toward ECSA. As often, when a region is picking up, shipowners trying to reposition their ship there but ships are still ballasting at slower pace than the market. As a result, ships might be like the the Offenbach Carabinieri and arriving once the party is over.
On the commodity, sure this European sugar quota end will have an impact on the shipping industry, with new sugar routes to be set up and others which will decline. This change shall be welcomed by shipping Industry, as often changes create unbalanced, unbalanced market creating good opportunities. Should you want to know more about these sugar quotas, you can read this boring memo from the European politics (These politics are unique, they have the expertise to write a text being in the same time boring and interesting).
Will the sugar market change be enough not to leave a bitter taste for Market players in the years to come? this remains to be seen as the famous “Cutting off your nose to spite your face” strategy set up by shipOwners, is back (not quite sure if it went away if you’re asking me)
Have a nice week-end and be prepared next week festivities whether you’re chinese, Indian German or open with a ship or cargo.