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
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