Top & Bottom 5 Day: TBSI @1.14 +23.91%, GNK @7.02 +7.33%, DRYS @3.94 +4.78% >>> OCNF @0.32 -8.57%, EGLE @2.31 -9.05%, FREE @2.00 -10.71%. The tweendecker operator TBSI is way out in front of the leaders pushing for almost a 25% gain in 5 days. The folks waiting for Genco too hit a bottom might consider this an alert. It was no secret Boomer James has been sniffing out Peter Pan’s equity, waiting to join any overcorrection swing. It is sad to see Eagle listed among the laggards with such a fine fleet… Think of the implications!
The Baltics: BDI 1423 +0.35%, BCI 1824 +5.12%, BPI 1914 -0.67%, BSI 1319 -2.15%, BHSI 734 -2.0%. The BDI averages out the four sub-indices for a flat week. The Capes needed a kick in the rear as many vessels could not run at
the present spot rate without losing money.
The Fixtures: Ore =11, Coal =2, T/C =59, Period =7, total = 79. We had only four days of fixture reports come in and still we say this was the weakest demand since 2nd week of Jan. The market is not showing us any good indicators at this time.
Best Done Period vs. Spot Rates
Capes: Anagel Explorer trading 9 – 11 MOS @$10,250 vs. $8842
Pmax: Dora Schulte trading 3 – 5 MOS @ $22,500 vs. $15,867
Smax: None Reported
The Vessels: VLOC =0, Capes =18, PP =3, Kmax =9, Pmax =26, Smax =20, Hmax =2, Hsize =0, Bulk =1.
Ski Notes: The Akili was the only familiar vessel fixed in the shortened week. I have been doing a lot of work on the fixture database and can say we might be around 10% complete. It will make my job easier. I have some good stuff coming down the line if we can overcome some time management issues.
Good Fortunes
Dry Bulk Shipping Market Observations & Commentary
Saturday, June 18, 2011
Monday, June 13, 2011
Really
The U.S. Navy tried to get permission to board a North Korean merchant vessel that it suspected was carrying illicit weapon technology in the South China Sea, the Pentagon confirmed Monday.
The Navy reported that the North Korean Master said “No” when they asked his permission to board.
As a Former Marine I will try to say this without hurting any squid’s feelings. When you are asking the Master about boarding his ship try to remember the question is only small talk, and you are going to send Marines or Seals over to scope things out regardless. Every weapon that gets through will someday be used against us!
Sunday, June 12, 2011
Dry Bits Week 23
Ahoy There!
Top & Bottom 5 Day: GLBS @9.94 +10.44% >>> OCNF @0.34 -12.82%, PRGN @2.03 -14.70%, TBSI @0.91 -23.52%. The equities had 15 Losers and the 1 Gainer telling us how bad the week was. The laggards really taking hits this week as share prices fell dramatically. I did not really see any reason for Globus to have gone up, yet it rose over 10% on a disastrous week. The bottom feeders trading TBSI had the rug pulled out from under them dropping huge. Paragon might be done being “corrected” as it has lost 32% of its value in the last 30 days. That is if you think PRGN was fairly price 1 month ago.
The Baltics: BDI 1418 -4.76%, BCI 1735 -10.52%, BPI 1927 +7.59%, BSI 1348 -6.06%, BHSI 749 -2.09%. The big ladies cannot hold the recent gains and drop back under ops cost. The panasisters had the only good week as all the other indices fell, even though the supras had some exceptionally nice fixtures for the mix.
The Fixtures: Ore =18, Coal =6, T/C =79, Period =15, Sugar =1, Bauxite =1, total =120. The ore chores exactly matched last week, meanwhile coal runs improved to almost healthy volume. All in all the demand simply is not at a level we call normal. This time of year we normally run around 150 fixtures per week, so although this week’s total of 120 is low, it is way better than last weeks 95.
Top Period Rate vs. spot.
Capes: Scope trading 12 MOS $11,000 vs. $9,758.
Pmax: Atlantic Horizon 4 – 6 MOS $15,500 vs. $15,266.
Smax: Prabhu Lal 3 – 5 MOS $13,000 vs. $14170.
The Vessels: VLOC =0, Capes =24, Post P =4, Kmax =5, Pmax =49, Smax =22, Hmax =8, Hsize =4, Bulker =3, Total =120. The best news here is simply VLOC =0.
Ski Notes: The following familiar vessels populated last week’s fixture reports. Navios Stellar, Poseidon, Navios Celestial, M/V Bonita. I observed a whole bunch of soy and corn fields under water as I traveled around this weekend. It was sad to think all the damage I was seeing is not even what has been mentioned in the news. Corn is going to get real tight.
I read that 4 mature capes were traded to the breakers just this last week. SWEET!! There are years that have gone by with less Capesize scrapping.
Good Fortunes
Ski@TonMileTrader
Top & Bottom 5 Day: GLBS @9.94 +10.44% >>> OCNF @0.34 -12.82%, PRGN @2.03 -14.70%, TBSI @0.91 -23.52%. The equities had 15 Losers and the 1 Gainer telling us how bad the week was. The laggards really taking hits this week as share prices fell dramatically. I did not really see any reason for Globus to have gone up, yet it rose over 10% on a disastrous week. The bottom feeders trading TBSI had the rug pulled out from under them dropping huge. Paragon might be done being “corrected” as it has lost 32% of its value in the last 30 days. That is if you think PRGN was fairly price 1 month ago.
The Baltics: BDI 1418 -4.76%, BCI 1735 -10.52%, BPI 1927 +7.59%, BSI 1348 -6.06%, BHSI 749 -2.09%. The big ladies cannot hold the recent gains and drop back under ops cost. The panasisters had the only good week as all the other indices fell, even though the supras had some exceptionally nice fixtures for the mix.
The Fixtures: Ore =18, Coal =6, T/C =79, Period =15, Sugar =1, Bauxite =1, total =120. The ore chores exactly matched last week, meanwhile coal runs improved to almost healthy volume. All in all the demand simply is not at a level we call normal. This time of year we normally run around 150 fixtures per week, so although this week’s total of 120 is low, it is way better than last weeks 95.
Top Period Rate vs. spot.
Capes: Scope trading 12 MOS $11,000 vs. $9,758.
Pmax: Atlantic Horizon 4 – 6 MOS $15,500 vs. $15,266.
Smax: Prabhu Lal 3 – 5 MOS $13,000 vs. $14170.
The Vessels: VLOC =0, Capes =24, Post P =4, Kmax =5, Pmax =49, Smax =22, Hmax =8, Hsize =4, Bulker =3, Total =120. The best news here is simply VLOC =0.
Ski Notes: The following familiar vessels populated last week’s fixture reports. Navios Stellar, Poseidon, Navios Celestial, M/V Bonita. I observed a whole bunch of soy and corn fields under water as I traveled around this weekend. It was sad to think all the damage I was seeing is not even what has been mentioned in the news. Corn is going to get real tight.
I read that 4 mature capes were traded to the breakers just this last week. SWEET!! There are years that have gone by with less Capesize scrapping.
Good Fortunes
Ski@TonMileTrader
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