will crossing fingers be enough?

When a 2012 57kdwt is reported being sold for Scrap it’s hard to believe Owners just decided to give a hand to the overall oversupplied market by scrapping a modern lady. Mv ‘Cheshire’ is the one and we can believe it took 8 months for the experts and underwriters to settle the case and define responsibilities on the fire which occured on board nearby Canarias Island on 27th aug 2018. You can find the story back here .Who’s (were) being this ship ? check it out here

On the S&P section of Bmti, Greeks bought 16 ships, representing about 2millions dwt at sea. Starbulk is the new shipowners, you can find here the press release about this acquisition. As I know you’re curious by nature, you can also find their 2017 financial report here. I’ll let you go through the whole document (243 pages) if you’re bored enough. Still page 7 (or marked 3) is rather interesting to read :

  • From 13,37 (units) ships on average in 2013 to 69.55 (units) in 2017
  • Tcequivalent from $14,088 in 2013 down to $6,208 in 2016 up to $10,393 in 2017
  • Vessels operating costs from $5,564 in 2013 down to $3,995 in 2017
  • Fleet utilization, throughout the years, never down below 96%

On the chartering side, as mentionned by BMTI in their « BMTI’s Handy Bulk View Point », one of the proposed solution to help market recovering, is to cross fingers.


Let’s all do that, it will surely help, sooner or later.

What to think about HS3_38 rdj/recalada range trip to skaw-Passero being at $13,728 today when in the meantime mv « Lv Song Hai » 2016 38.8kdwt is reported fixed dly recalada trip redel Skaw-Passero with grains at $12,750 by Cofco ? Did Cofco did a real good bargain or just had too many ships around to pick and choose the right/cheap one.

For your information this ship was circulated yesterday « open abidjan on 26th april » so she shall be able to tender NOR within 12/13 days in Recalada.

To play a bit with these figures, on the basis of 33,000mt of wheat loaded in San Lorenzo at 7,000satpmshex to end up in Algeria at 2,500sshex (local equivalent), the delta between the fixed rate and the index rate is $1,50pmt loaded. On dlosp bss, the daily equivalent for owners is $8,750 per day for something like 60 days. (reminding you, these figures are believed to be somehow accurates but still as brokers).

Ex USG it also cames to our ears a modern 38.8kdwt got fixed dely SWP redel Morocco at $11,100 daily which is much more in line with what the index are showing ($11,550)

Ex Blsea to nigeria, 33kdwt is said fixed at $12,000 per day, surely the premium to go to Nigeria, where in the last few weeks Piracy events has been reported, last one (and unfortunately looking like still under discussion to release the 12 crew members, this story )

Voila, that’s it for today.



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