No big move to report in comparison to last friday market report. Some would say “yeah, normal it’s a Monday, what did you expect?” as if it would be normal not to expect anything on a Monday (because it’ s the first day of the occidentalweek), likewise for the Friday (because, you would have guessed on your own, it’s the last day for occidental week). Then you have to add any days in between which are the beginning of the month (for instance 1st of feb is a Thursday, so we shall not expect anything right). Likewise on 31st Jan, it a wednesday) and so on. In nutshell, when the market is boring, not to say worrying, we can easily find excuses about the weather, or the timing of the week or the month. Some will probably tell us, if the market remains slow on 24th jan, “normal, Romania is enjoying banking holiday”. Of course I don’t want to show lack of respect to my Romanian friends. Bmti is proposing today a lovely (if we can say so) picture about new Buildings program. 32 units from 200,000 to 400,000dwt are in the pipe, 77 units of 35-40,000dwt. And Bmti to conclude “the last 5 months have given the owners an income boost which however for many owners is still too insufficient to break even“… So on this basis, who’s going to own the 32 capes sizing above 200,000? Smart banks? deep pockets funds? Owners happy to pleased deep pockets charterers happy to take on period at fairly low level modern ladies?
I take the risk to be bit too much insistant on the gaz emissions challenge ahead of our industry. But I take the risk (for once, as brokers only). Something like half of the readers are on the owners side, they need to be prepared. the other half? they are charterers, and likewise they also need to be prepared. A shortcut for them would be to welcome heavily the newbuilding program argueing, for sure these new ships will be eco planet friendly.
have a nice evening