Ahoy There!
Top & Bottom 5 Day: DSX @13.98 +5.27%, NMM @18.48 +3.07%, NM @5.95 +0.68% >>> SHIP @1.21 -2.42%, GNK @16.45 -2.49%, TBSI @4.95 -4.07%.
The Baltic Numbers: BDI@2762 +2.44%, BCI@4345 +6.59%, BPI@2254 -6.20%,
BSI@1858 -1.90%, BHSI@994 -3.77%.
Dry Fixtures Thursday – Thursday: Corn =1, HSS =2, Ore =22, Coal =3,
T/C =87, Period =14, Total = 128.
Vessel Tally: Capes =33, PostPmax =1, Kmax =2, Pmax =41, Smax =41, Hmax =6, Hsize =4, Total 128.
Familiar Vessels
Genco Success, Genco Cavalier, Genco Commodus, Navios Stellar, Torm Island, Genco Tiberius, Navios Anteres, Navios Vector.
The amount of ore fixtures for the last 4 weeks average out at 14 fixtures per week. This week saw 22 Ore Chores fixing for a 57% improvement in volume. The Big Ladies (Capes) closed with 33 of the 128 fixtures, losing some volume compared to last week’s cape fixture count of 38. The period activity was diminished with only 14 vessels taking that type of “secure” employment.
A Ski note; The folks who follow dry bulk shipping will excuse me for not harping too much about the blasted order book! The documentation and analysis of the fleet size has been a subject we all have privately digested with assistance from the gifted Authors at Cotzias, WeberSeas, TradeWinds, and the like. It is not a surprise that many private investors (who once loved shipping) have long since departed from investments in the sector. A quote from Martin Stopford that shipping may be in for up to 30 years of bad times had the most profound impression on this observer. I hold that investments in dry bulk shipping equities are currently more suited to attentive momentum investors compared to traditional longs of a year or more. Now more than ever The Song Remains the Same as Led Zepplin once told us.
Good Fortunes
Ski
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