Top & Bottom 5 Day: ISH $19.79 (+4.32%), DSX $7.99 (+0.25%) >>> TOPS $2.19 (-15.77%), FREE $0.50 (-18.03%), GLBS $3.00 (-28.91%). It is somewhat surprising that DSX holds a leader slot this week considering the news about the counterparty lack of payment. A look at the laggards and we relate the drubbing FREE took on Wall Street with having a vessel arrested over a $93,500 claim. The spanking handed out to GLBS remains a mystery at this point but the company dropped almost 30% in value in 5 days
The Baltic Exchange: BDI 1888 (-1.77%), BCI 3572 (-3.38%), BPI 1775 (+3.62%), BSI 1193 (-3.01%), BHSI 588 (-2.33%). For those keeping score the last day the handysize index closed with a gain was Oct 17th 2011, so for the last 60 trading sessions everyday has been a bad day if you were fixing a handy...
The Fixtures: Ore =16, Coal =1, T/C =83, Period =19, Grain =1, total =120. The ore chores come in low for the second straight week dropping the 4 week average down to 19.5 fixtures per week. (We call 25 decent) The single coal fixture is a Hampton Roads load of United States steam coal headed for Brindisi Italy, chartered by ENEL. A Major Coal Smoker is located in Brindisi and it is the largest electricity producer in Italy.
The Vessels: VLOC =0, Capes =21, P/P =2, Kmax =9, Pmax =57, Smax =28, Hmax =1, Hsize =0, Bulker =2, total =120.
Ski Notes: The following “Familiar Vessels” populated the fixture reports; Genco Cavalier, Navios Hyperion, Dione, Navios Astra, Navios Fantastiks, Genco Vigour. I am not sure of all the particulars but DSX is in the process of trying to get paid 4.8M they are owed for hire of the MV Houston. The delinquent counterparty Shagang Shipping Company is a subsidy ofJiangsu Shagang Group the largest private steel mill in China.
Good Fortunes
Ski
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