Top & Bottom 5 Day: SBLK +1.79% GNK +1.72% BALT +1.71% >>>
DRYS -2.95% OCNF -3.88% FREE -9.90%. If you have heard the expression “up a creek without a paddle” it reminds me of the shareholders in TBSI. The performance has been among the sectors worst laggards of late. The staggering loss in share value over the past 6 months has totaled -51.24%. Dry Bulk analytic observer Boomer James has been monitoring this company with every intention of catching the wave when/if it forms. He is a patient predator!
The Baltics: BDI@2678 -1.79%, BCI@4262 -2.53%, BPI@2410 +8.60%,
BSI@1750 -2.28%, BHSI@897 -5.57%. The last time the Handysize indice was below the 900 level was the second week of November 2009. The Panamax fleet is possibly benefitting some by the supposed option of Cape swaps. The spot rates at present suggest a charterer can rent a single Cape for $43,563 or fix two Pannies totaling $38,828. The practicality of this swap currently is questionable, but it’s worth keeping an eye on.
Dry Fixtures: The fixture activity picked back up week over week with 144 fixtures being reported Thursday to Thursday. Coal =4, Ore =12, Wheat =1, HSS =3, UREA =1, Scrap =1, T/C =96, Period =26. The vessel tally is populated with Capes =29,
PostPmax =2, Kmax =11, Pmax =61, Smax =20, Hmax =5, Hsize =9, Bulkers =7. Again for any newer readers urea is a fertilizer and hss is heavy beans soy & sorgrum.
Familiar Vessels: Navios Fantastiks, Torm Island, Free Maverick, Navios Titan,
Genco Warrior, Genco Constantine, Genco London. A noteworthy fix was reported for the F Elephant a 250,000 dwt (Very Big Lady) was chartered by Vale illustrating the miners focus on economies of scale. The havoc their intended fleet of fat boats may inflict on the trade could readily backfire on them. Should Ski remind Vale what happened to US Steel when the steelmaker tried to play shipper? Their private fleet failed and eventually became Navios. Guess who is sitting pretty in South America sharpening her claws? Fortunately the Paparazzi have yet to capture Angel strolling along a beach in Rio sporting a Ton Mile Trader Thong! In the meantime tmt dry bulk data miner Dodger scans YouTube every day with hopes of a sighting. Thinks she is a “hooters girl” if he has ever seen one.
Good Fortunes
Ski
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