Dry Bits Week 2
Ahoy There!
Top & Bottom 5 Day: ESEA @2.81 (+9.34%), ISH @20.71 (+7.53%), NM @3.74 (+7.47%) >>> PRGN @.652 (-5.51%), SHIP @2.45 (-7.55%), FREE @.39 (-17.02%). We still are not sure why ISH gapped at Tuesday’s opening bell, but it helped put the company on the Top & Bottom 5 Day leader board. For the folks who enjoy trading, we at Dry Bits alert readers too Euroseas, suggesting a possible short play. The mixed fleet operator has enjoyed 2 consecutive weeks on the leader board.
The Baltic Exchange: BDI 1053 (-21.83%), BCI 1723 (-25.22%), BPI 1264 (-17.76%), BSI 971 (-12.68%), BHSI 533 (-5.33%). Synchronized sinking!
Waving goodbye 2 your investment dollars!
The Fixtures: Ore =16, Coal =10, T/C =92, Period =7, Grain =1, total =126. The ore chores start out the new year with low volume and even a good week on the coal side of things cannot fill the void. The grain fixture caught my eye. We have 30k dwt of corn heading towards Tunisia. The charterer is Perdue. Could that be the same Perdue that grows my favorite chicken? Now they are growing chickens in Africa?
Best Done Period vs. spot
Capes: Zong May 4-6 MOS $14,750 vs. $15,477.
Pmax: Yong Jin 3-5 MOS $13,250 vs. $12,272.
Smax: Star Delta 3-5 MOS $11,000 vs. $10,442.
The Vessels: VLOC =0, Capes =20, P/P =5, Kmax =9, Pmax =52, Smax =27, Hmax =4, Hsize =3, Bulkers =6, total =126.
Ski Notes: The following “familiar vessels” populated the fixture reports this week, Mendocito, Star Delta, Navios Arc, Star Borealis, Golden Future, Nord Galaxy. The folks at Newlead Holdings LTD (NEWL) have sold the last owned bulker, therefore we discontinue our coverage.
Good Fortunes
David Chinski
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