Yesterday it was about ADM results being beyond expectations. Today’s about Bunge‘s ones. Baltic Dry Indexes are keeping moving down with only Panamaxes, managing to gain a small +11 and get back above the 1,500 mark. Nothing enough to keep up the excitment, really. Relying on port congestion is a way for market players to hope for again some market bumps in the weeksto come. You can find here some info about coal in China unless the market upward experienced lately is due to a willingness to secure shipments, whichever are the ports capacities to swallow the flow.
Also, having a look at the ships deliveries in 2017, about half of the ships planned to be delivered are still underconstruction in the shipyards, easy to bet, most of these ships will be delivered in 2018, helping owners to save a year on their age… Which in other words, theorically means a ship delivered on 31st december 2017 11.59 pm lt will be 1 year older than the sister ship delivered on January 1st 2018 00.01am LT. Knowing all extra taxes and premiums which applies on ship’s age, this is a costy second, in our case.
If you’re after strong market, then you have to pay some attention on the Coasters, in the black sea, local owners are in the driving seats. unfortunately for owners of larger vessels it’s fairly unlikely charterers will try to swap from coasters to mini handies, unless ports restrictions being arranged to fit in for big mammas. This shall not occur in the next days.
Talking about next days, as mentionned already yesterday, Hamburg will be, once again the capital for the world shipping communauty. Elysée hotel the center of Hamburg on thursday evening. See you there, you can probably spot me close to the beer taps.
(on the top right corner, this is where I usually am)
regards
Jerome
drybulkpelagos 