Good day, good afternoon, good evening
This sentence could be the right summary of the chartering market for today (this week). « From owners’ point of view the chartering market remains on the right track, despite some irritation developments […] ». Indeed confidence is here, indeed on the spot basis, Owners still have to fight to get any additional penny in their pockets. Today’s bmti « from the desk of a continental brokers » section, seems their today’s continental brokers being quite enthusiastic eventhough, few figures mentionned remain still unclear « the same vessel (35,000dwt open Iceland) fixed a trip from Rouen to Morocco at $13,000 »… Aps ?Dop ? Aps shall be the reasonable guess, on the basis of 30,000 10pct bulk wheat stem with 10,000x/5,000x, this $13,000 daily is giving voyage equivalent somewhere close to $19pmt. It’s allowed to challenge this info I must say. Enthusiasm (at least from the author of BMTI today), is here and again ex blsea Ultra front haul is worth today $23,500 and « likely to reach US$30,000 daily soon ». I could even add « reach US$40,000 daily sooner or later, just a matter of being (very) patient ».
Some good reasons to have faith in the future of the shipping market is to have a look on the demand side. Coal (to keep us warm during winter), global coal imports was up by over 6% last year, which is equal to something like 1,25 billion tonnes (who’s still cold in winter ?). China is obviously the one giving the tempo on this commodity movement, they imported 12% more in 2017 than in 2016. For 2018, the raise (forecast) is not over and specialists (the one being never cold feet) believe the Coal imports may rise by as much as 4% this year (and so on for the next 5 years). Despite global warming.
On the other hand, IGC (International Grains Council) are expecting a lower global wheat crop this year. Mainly because of difficult planting conditions in Europe, Russia and India (looking like also Argentina crop will be under pressure). For our friends traders, this shall be rather a good news, less oversupply might bring bit more of volatility and more movements on the prices. An active overall grain market is by butterfly effect also a good news for the shipowners. Especially if we read (IGC source again), « the grain stocks are seen falling for the first time in five years ». In case you’re dying to know more about Grain markets, you can read the full report here .
Coal and grains shipment shall not only summarize the seaborne transport but yes there are good reasons to have faith.
Once again, should you wish to find some Handies fixtures in today’s Bdi, you won’t find any, even with a magnifying glass, Bmti’s making some comments on this baltic Exchange change and looking like market players are bit doubtful about the relevancy of these changes.
To conclude today’s report, don’t forget to compliment your colleagues today (for their shoes, their good work, their haircut, their new suit, tie, smart idea, great fixture,… whatever really. be creative for once), today’s being international Compliment day, you should be part of it. (still be careful if you don’t want to see your name in the long list of the #metoo folks and be nice but not too nice, otherwise it will become suspicious).
I simply wish to tell you, you’re great. Yes you are.