Top & Bottom 5 Day: TBSI @1.77 +7.92%, PRGN @2.92 +3.91%, NMM @20.45 +1.03% >>
GNK @9.68 -7.63%, SB @8.31 -11.50%, OCNF @ 0.56 -15.15%. Looks like the SB offering has been cooked.
The tweendeckers (TBSI) recovering almost 8% after being on a t&b laggard alert, to lead all bulkers for the week. Ski points for Boomer. Cousin Eddie at OCNF should be ashamed of himself. He is not. He can’t help it, in his blood ya know! Navios Partners has made the leader board 2 weeks in a row qualifying it for a t&b alert. Partners does seem to hold gains better than a lot of others. Maybe let them hit 3 weeks in a row, and then its hammer time.
The Baltics: BDI @1296 -5.81%, BCI @1564 -2.97%, BPI @1514 -10.73%, BSI @1414 -2.95%,
BHSI @796 +1.27%. The panasisters are just rolling over and giving it away. The handies now have 9 consecutive weeks without a rate loss. The wheat fixtures coming in will surely drive the BHSI over the 800 plateau? Yet as we say that, we acknowledge one of the wheat fixtures was actually a Supra steaming to Israel. Boomer James reports somewhat stoically that “Those with the gear, shall persevere!”
The Fixtures: Ore =17, Coal =4, T/C =99, Period =12, Wheat =2, HSS =1, total =135. The ore chores fall from last weeks 19 (and that was a slow week) making this week…slower. Best T/C activity since week 7 when we had 106. Triple digit t/c numbers are expected most times of year. The period volume dipped again, and it showed up in the diminished rates achieved. Capes are still being inked at more than double spot.
Top period rates this week vs. spot.
Capes: Blue Cho Oyo trading 11 – 13 MOS @$15,000 spot =$7,030.
Pmax: S. Nicole trading 11-13 MOS @$15,500 spot =$12,407.
Smax: Filia Joy trading 3 – 5 MOS @$18,500 Spot =$14,870.
The Vessels: VLOC =2, Capes =27, Post Pmax =3, Kmax =7, Pmax =53, Smax =22, Hmax =12,
Hsize =3, Bulkers <30 =6, total =135. The really big ladies (VLOC) captured a couple fixtures denying the Capes a shot at the 30 mark. The bulkers <30K enjoying the early wheat harvest boost in employment. Supra vessels trying to hold in USG amidst an armada of sister ships advertising prompt. We read that 5 bulkers a day for the rest of the year are supposed to hit the water. Way to go owners, way to go!
Ski Notes: The following familiar vessels populated the fixture reports this week. Bonita, Navios Altamira, Torm Rolholm, Ionian Eagle, Thor Freindship, Thor Dynamic. The folks who closely follow Navios will be interested in their chartering of the Fair Lady hauling coal from Baltimore >> India @41.25. Is the coal market getting bonkers or did Navios slip and have to cover a COA when they did not have a vessel available? Angel had one vessel lose a main motor a while back if I remember correct. That may explain the expensive charter they incurred. This week also produced a VLOC fixture for the 208,000dwt Hyundai Frontier trading 8 – 9 MOS for $16,000 daily. I bet the owner has reflected on the situation that his vessel holds ~ four Supramax cargoes worth of tonnage, yet earns close to the same as just one Supra. It’s the gear that grabs!
Good Fortunes
Ski
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