I don’t think you need to go to the opthalomologist to check if your vision is still ok in order to try to understand the market. Market is softening heavily and as it happens from time to time, no matter (or so) what’s the last done to provide some kind of guidance for the next one.
If we would have to take this rule for fixing 30,000 5pct moloo from upr to Algeria, then we would take as guidance the mv ‘Nord Savannah’ fixture reported today
“‘Nord Savannah’ 2013 37067 dwt dely Sao Francisco do Sul 18/19 Dec trip via Recalada redel Algiers intention grains $17,000”. (with rumor late this pm on corrected figure at $16,000)
bss $17,000 daily, 7,000satnoonshex at load / 2,500thu5pm-sun8amhex at disch this is leading the freight somewhere around $43.50pmt with 31,500mt loaded. (bss $16,000 you can shave down by $2.00pmt)
So on the basis of “last done and knowing market is softening, it would be reasonable to target “low $40’s” (or very low $40 if $16,000 is the real figure)
Reasonable but overpaid probably, as I have rumors, same biz has been concluded earlier this week with one of the ABCD at touch below $40. When another one, freshly out, as an opportunity to be covered still for December, is in discussion around $39.00pmt.
Likewise ex BLSEA should the last done be the rules, at no point Meridian would have been able to get mv’Triades’ 2005 28500dwt at $7,750 dely Canakkale pro mpt trip via Black Sea redel Turkey intention grain as few days ago similar biz was worth above $8,500.
International Human Solidarity Day is today 20 dec 2017 and it’s lead by United Nation. Bit bizarre to have the UN to set up an official International day for such a cause. As if from 21st dec until the 19th dec of the next year all is over, let Human Solidarity issue aside and Rendez-vous next year for a worldwide hug.
Shipping, like any other business* is nothing else than a community of people working together, sharing the same goals, cherishing the same ships, loving the same cargoes and yes trying to make some money out of the cargoes flow and ships movements.
So today dec 20th, we shall not forget, while we are in our cumfy offices, some members of this so called “shipping Communauty” are suffering from some behaviours.
When we are all focusing on Index and return on money and are finally quite happy to realize, so far, not so many Owners went into bankruptcy, some next door have not understood the whole concept of being a shipowners. In 2017, with all the information flow, everybody’s able to know what’s everyone doing it’s still surprising somehow, to realize, “2017 marked a high point in the number of cases of abandoned crew“. See the full article here
and should you want to read Mission to Seafarers’ Christmas message, well, lucky you, the link is here
Bit more specific but still about people, I did not know personally Maurice Meehan who passed away suddendly last week. Going through the tribute done by splash, here looking like Shipping has lost a brilliant character. A man with quite few convictions fighting for a better shipping world.
All in all I’m not here to set the standards, neither give lessons, I just thought it was nice at some stage to remind to all of us why we are here.
*some will love to say, “yeah but especially in Shipping, because shipping is different” but I won’t get into this debate “is shipping trully unique or not”)