Dry Bits Week 6

Top & Bottom 5 Day:  PRGN @.802 (+35.47%), DRYS @3.00 (+25.00%), EGLE @1.70 (+25.00%),

>>> SFL @11.65 (-3.80%), NMM @15.91 (-3.87%), SBLK @1.12 (-4.27%).   The performance of top dog PRGN gaining 35% is noteworthy.  Dry Bits analyst Ohms has provided me data that forecast PRGN will have negative earnings through 2013.  With a certainty of upsetting the vocal DRYS investors we cautiously alert on DRYS after they have maintained a T&B 5Day leader spot 2 for consecutive weeks.  This is not a sure bet as the drilling segment has been buoyed with good news. 

The Baltic Exchange:  BDI =715 +10.51%, BCI =1457 +1.46%, BPI =967 +39.54%,

BSI =645 +6.09%, BHSI =366 -4.19%.  The panasisters are moving the coal although we did see some capesize and Kmax loads of the fuel fixed.  Nonetheless, a very good week for the pmax owners. 

The Fixtures:  Ore =13, Coal =15, T/C =93, Period =15, Grain =2, total =138.  The amount of ore chores fixed continues to be lower than healthy market levels.  Meanwhile the coal market has risen consecutively developing a 4 week avg. of 11 fixtures per week.  The number of T/C fixes blew way past recent performance levels, and period charters increased 150% over average numbers with amazing spreads between spot and period.  Examine this weeks best done cape, the spread is a 157% premium to spot.

            Best Done Period vs. Spot

Capes:  KIRAN TURKIYE         7-9 MOS         $13,500  vs. $5,241

Pmax:  Alpha Flame               4-7 MOS         $10,500  vs. $7,151

Smax:  DARYA SHAKTI           3-5 MOS              $8,250  vs.   $6,583

Hmax:  Elena Topic                3-5 MOS           $9,000  vs. $5,511

Hsize:  none reported                                                   

The Vessels:  VLOC =0, Capes =23, PostP =2, Kmax =19, Pmax =60, Smax =25,

Hmax =4, Hsize =2, Bulkers =3, total =138.

Ski Notes:  The market continues to amaze.  When earnings are compared with Paragon, my grandson will make more money this year selling lemonade on the sidewalk. 

The value of PRGN rose 35% last week.  laughing out loud!

Good Fortunes