Week 13

Ahoy There!

Week #13 March 31^st 2012

Top & Bottom 5 Day: 

EGLE @1.94 (+7.78%), EXM @2.00 (+4.71%), BALT @4.15 (+4.27%)>>>

FREE @1.05 (-2.78%), SBLK @0.90 (-4.26%), SHIP @3.32 (-6.48%).  The folks keeping score have got Eagle pulling off a double earning a short alert again.  There is a divergence between what the market performance of EGLE shares has been in contrast to what we know the future holds for the earnings. 

The Baltic Exchange:

BDI =934 up 2.86%, BCI =1412 up 3.14%, BPI =1051 up 1.45%,

BSI =1030 down 0.48%, BHSI =565 up 2.54%.  The “Mother of all Indexes” our BDI is again up this week, but to quote our senior editor describing the progress in a slowly rising environment  “still a lot of wood to chop” because at these rates the only good is to discourage potential first time ship-owners from going out and buying a boat.  That is one good thing about low rates.  Trying hard to be positive…but

The Fixtures:

Ore =16, Coal =11, T/C =85, Period =9, HSS =1, Corn =1, Wheat =1,

Sugar =1, total =125.  The ore chores maintaining the 4 week average demand, meanwhile the coal runs are strong and have increased their average now up to 9.5 fixtures per week.  Nice to see some of the small bulker fixes get reported to the Baltic.  I do not remember the last time we documented a dry bulk sugar fixture.  Pretty Cool ya know. 

            Best Done Period vs. spot rates

Capes:  Successor                               8-12 MOS        $11,000  vs.  $4,940.

Pmax:  ROSALIA D'AMATO          4-6 MOS          $10,650  vs.  $8,348.

Smax:  Mare Trader                          3-5 MOS          $14,000 vs.$10,905.

HSize:  n/r                                           n/a                                 vs.  $8,576.

The Vessels: 

VLOC =1, Capes =23, Post P =5, KMax =13, PMax =47, SMax =20,

HMax =8, HSize =4, Bulkers =4, total =125.  It is noteworthy that a VLOC hit the fixtures this week potentially absorbing 2 capesize vessel employments.  Nice touch…

remember this is shipping and we must cut off our foot 2 spite ourselves. 

“Dammit… Jim” 

Ski Notes:

My good friend Ohms has released another fine article on his website.  The article is titled “The Law of Averages”.   If you have not paid our official TMT’s Dry Bulk Seer  a visit recently you may be remiss???   http://blog.littledief.com/

Good Fortunes