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