Dry Bits Week 10

Ahoy There!

Top & Bottom 5 Day:  GPRT @78.00 (+9.86%), PRGN @0.90 (+9.76%), EXM @1.83 (+5.17%) >>>

ESEA @2.32 (-9.02%), FREE @1.13 (-9.60%), GOGL.OL @4.78 (-9.81%).  This week the market gives us Euroseas (ESEA) making the Top & Bottom 5 Day alert as a repeat laggard.  The Q4 earnings report was not pretty, but the stock has been hammered down 22.66% since that release.  The mixed fleet operator was expected to lose money.  Last week GLBS was alerted as a short candidate and the stock again gained on the week although dropping out of the leader board.  A losing gamble if you placed the bet. 

The Baltic Exchange:  BDI =824 up 6.87%, BCI =1503 down 1.44%, BPI =889 up 5.33%,

BSI =864 up big 15.97%, BHSI =469 up 7.32%.  Midway through last week I thought the Supra’s would stall with too much tonnage opening up.  Wrong again.  It is not the first time, will not be the last.  I think the harder we look for something the greater our chances of seeing it becomes, whether it be there or not!  Ease up Watson

The Fixtures:  Ore =13, Coal =11, T/C =90, Period =11, Grain =1, total =126.  Well now if this don’t get ya going you might be hard to please.  The ore chores where halfed but, the smokers took another week of strong coal volume.  The four week average coal demand came in the week at 10.5 fixtures per week, and that is a high number compared with annual demand.

            Best done period vs. spot

Capes:  Tom Selmer               5-9 MOS          $12,350 vs. $5,822

PMax:  Sam John                   12 MOS           $12,000 vs. $7,006

SMax:  Common Spirit           3-5 MOS          $12,600 vs. $8,789

HSize:  St. George                  3-4 MOS          $9,000  vs. $7,024

The Vessels:  VLOC =0, Capes =20, PostP =7, KMax =12, PMax =50, SMax =22,

HMax =5, Hsize =8, Bulkers =2, total =126.   Folks who dig the fixture reports (doesn’t everyone?) are all smiles seeing the mighty panamax fleet hit Fifty vessels.  Go Girlfriends. The following “Familiar” vessels populated the fixture reports, Deep Seas, Ocean Gem, Nord Angel, Dione, Nirefs, Newlead Markella, Bonita, Ocean Duke, GENCO LANGUEDOC, Grace Future.

Ski Notes:  Year to date we have had 19 Capesize period fixtures of which 3 are BCI linked for the rates.  The fixtures not tied to the index have all been at over one hundred percent 100% premium to spot rates. 

Good Fortunes