We have to face it, pretty quiet day here in our French office (and so in all our overseas offices) and after discussing with few guys, thanks God it’s not only us but the overall European (at least) shipping market being quiet. Yes thanks God, as fairly quickly you can become paranoiac and start wondering if you are blacklisted or if your It system is down.
Still the Baltex took a bit of time to propose their today’s index, and guess what? We could have survived without today’s numbers being shot in the air. All are in the red, except BSI showing a brave +4 points, overall.
You don’t really need my comments to realize the world is becoming messy and fairly unpredicatable. Planning ahead will become a gambling game, it will probably please the traders who generally speaking, needs to see volatility in their markets to be able to place their good bets. Not sure this will help industrial players. What about Owners? Well I would say it depends about their main strategy and whether they act as Industrial players with their ships or if they consider their ships are commodities to be traded. Most probably operators shall welcome the movements up and/or down. As soon as they are having a good edging on the gas.
So, to keep you busy once you have finished your mojito, you can access to the below links found here which somehow shall enable you to have a better understanding about the shipping market. Enabling you to take the right next decision.
Let’s start with this last week’s Lloydslist podcast. Quite a modern way of commenting the news. It’s about gas emission cut down by 50% by 2050 IMO deal. It’s about Gender pay gap in the maritime industry. It’s about Digital “disruption” in the container sector…
Digital disruption, the big project, the big thing is about autonomous ships… reading this article, and the conclusion of the survey, it might not be ready right now. (In my opinion, before filling a ship worth dozen(s) of million USD with cargoes worth few dozen(s) of same money, I’ld rather be sure the Captain is not a silly robot! (but I’m just a silly broker)).
As money is the leading the world (whatever the Dalai Lama says) you should also read this one here, about Genco and the restructuration of their debt. I can admit easily I’m not too much into finance games, meantime looking at the results Q1 2017 and Q1 2018 of Genco, it’s surely nice to restructure the debt, to be able, in the future to “distribut dividends”. But to be able to give dividends to share holders, the first step, isn’t it to show positive financial results? No doubt the Genco team will be able to handle the fleet and make the best out of the market, still, they’ll need a better market than the one we are facing now, no?
And if to comment on today’s BMTI edition, in their « S&P section » three « Orient » handies, being under Norden ownership (source equasis), being sold en-bloc to some Singaporian Buyers (Pioneer to name them). Selling ships, is another way to restructure the debt, and sooner or later propose some dividends to the share holders, unless the cash-in is going for other purposes. (I have not asked Norden. And I won’t, I’m sure they have a good strategy in mind).
have a nice day, evening, night, wherever you stand in the world.
My time to go for the Mojito, if you still don’t know how to prepare a good one, then follow the link here