Ahoy There!
Top & Bottom 5 Day: No Gainers ! >>> EGLE @4.11 -11.09%, GNK @11.53 -13.24%, BALT @8.53 -14.35%.
For once the entire dry bulk sector (all 16 equities) saw changes in share value that were in line with the shipping market fundamentals. All too often, we report share value gains that would appear to be unfounded. None of the equities should have gained last week, and none did. Well done street!!!
The Baltics: BDI @1137 -17.00%, BCI @1368 -12.08%, BPI @1337 -18.96%,
BSI @1209 -15.27%, BHSI @722 -7.07%. How bout the Panasisters giving it their best shot to overtake the Capes in a race to the bottom. Just when we thought nobody could match the misery inflicted on the Capesize owners, the Pannies prove there is truly strength in numbers. A few more fixtures and they might have breached the 20% weekly rate decay milestone. And let’s not forget the significance of the relatively stable handysize ladies rolling over and giving up a whopping 7%. Give it away girls, just give it away!
The Fixtures: Ore =15, Coal =7, Wheat =1, Petcoke =1, T/C =94, Period =6, Total =124.
W.O.W. The “ore chores” dropped by half, period activity dropped two/thirds, coal dropped ~ a third, and surprisingly period activity fell by 60% compared to last weeks 15 fixtures.
The Vessels: VLOC =0, Capes =19, Post Pmax =6, Kmax =5, Pmax =52, Smax =23,
Hmax =11, Hsize =3, Bulkers <30 =5, Total =124. The good news is zero super fatties (VLOC) fixed this week. They dilute the value of some of the metrics calculating vessel class utilization, and of course the overall fixture volume tally.
Familiar Vessels: Genco Acheron, MV Bonita, Nirefs, Newseas Pearl, Golden Endeavor.
Ski Notes: The “tone” of my posts is not intended to be insulting to the long, buy and hold, kind of shipping investors. Your investment criteria and strategy is not being questioned, nor is the wisdom of that decision. Good Fortunes
Ski
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