Yesterday I was doubtful about market players being ready to swallow $19pmt on this rouen to Algeria cargo. Claiming, bunkers prices are still too high to make it worth it for owners, lucky me I was not 100% definitive and wise me I also mentionned about a « shooting window » for grains players to do a bargain. And, yes looking like $19pmt has been done on usual terms, with modern good looking lady. Is it already the end of the party on the Owners side ? are charterers back in the very popular driving seats ? if owners willing to be positive, we can say market taking a breeze to get back stronger but thinking bit forward, when market experts are struggling to find rationals behind a market raise, it often means, there is not much any rationals and sooner or later the correction shall be expected. Having a look at ECSA market, interesting to realize, yesterday BDI was mentionning this « Recent » fixture, which in BDI, is the hidden way to say « done last week, at least » with this fixture :
« ‘Lambi’ 2012 33,221 dwt dely Santos mid Nov trip redel west Mediterranean $15,000 daily » (knowing last time the ship was quoted here was on 30th oct, vsl said open douala 5th nov, eta Santos 14th nov.
This to be compared to this fixture heard here done yesterday
« The Alycia 34,018-dwt 2012-built was rumoured to have fixed at a rate in the mid $13,000s delivery Rio Grande for a trip to the Mediterranean »
Of course we can believe Alycia shall have a better intake with probably comparable speed conso. For sake of comparing, taking mv ‘lambi’ as a bss for 31,000 mt agri prods 1sp upr with 6000satnoonshex / Morocco 5,000sshex.
- At $15,000 daily (so beg october) this is giving voyage equivalent at $33,50.
- At $13,000 daily, bss same place of delivery, same intake, same voyage, voyage equivalent is at $31,00.
And remember, early october for similar buisness, with quite comparable ships, $17,000 was market value.
- At $17,000 (without adjusting bunkers prices at that time), Lambi would give on voyage basis $36,00 pmt
Party could also be over on the bunkers and oil. After a raise, up to 40% since july this year, many market specialists expecting the rally to be over, with US production going up. Brave Prince of Saudia fighting against corruption might not be enough. At least Prince will not feel too lonely in his fight, MACN claiming to have reach a nice new regulation to modernise inspection for dry cargo in Argentina and « increase efficiency of port Clearances » (there).
more details in this MACN document (and if you’re still wondering what MACN standing for, you’ll also have the reply in). This shall be some good news for shipping industry and if MACN do not know what to do next, they can go to Saudi Arabia, where, according to Bloomberg (and saudi officials),see here, « at least $100Billion misused Over Decades ».
In the Olympic games of Corruption and flying away money, you also can find rice being involved according to Nigeria Agri Minister…
Have a nice evening, watching at sports on tv maybe, and stop wondering which referee has been bribed, it’s useless and be prepared to say goodbye to this 1967 built ship who’s going to be dismantled in Lithuania, unless this ‘Alexandra S’ is going to be the key attraction in the Lithuanian Maritime Museum. Dear Alexandra s, 50 year old is a nice age for a ship to say goodbye. Thanks for your hard work throughtout these long years and now Alexandra S, get the hell out of there!
this is how in 1967 shipbrokers were showing up at their office. uncorruptibles at that time.