My latest market commentary

Reuters latest with some spice from yours truely

Qte

Nov 27 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose on Tuesday helped by slightly higher rates for panamax ships.
The overall index, which reflects daily freight market prices for capesize, panamax, supramax and handysize dry bulk transport vessels, rose 0.27 percent to 1,097 points.

The panamax index rose 0.2 percent, with average daily earnings up $10 at $8,163.
Panamaxes typically transport 60,000-70,000 tonne cargoes of coal or grain.

Sentiment for panamax vessels remains positive overall for the next few weeks but could change if we do not see any new shipments hit the market, said Andy Jamison, shipping blogger and owner of the Virtual Shipbroker.

Pre-winter stocking has taken place and coal inventories are up in China, Jamison said.
After a positive couple of weeks there seems to be a softer feeling to the Atlantic market, Jamison said.

However, he expects the panamax market to hold up a little longer as there is still a plenty of operators in the market for coal stems.

The Baltic's capesize index fell two points to 2,275 points.

Average daily earnings for capesizes, which usually transport 150,000 tonne cargoes such as iron ore and coal, were down $66 at $16,291.

Shanghai steel futures touched two-month lows on Tuesday as winter reduced demand from the construction sector in top consumer China and sent spot prices for raw material iron ore to their weakest since October.

Iron ore shipments account for around a third of seaborne volumes on the larger capesizes, and brokers said price developments remained a key factor for dry freight.
Average daily earnings for handysize ships were up $70 at $6,468, while those of supramax ships were up $102 at $7760.

 Unqte

The Virtual Shipbroker

VS and Reuters update on the markets

Thu Nov 8, 2012 10:19am EST

Nov 8 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, remained flat on Thursday as capesize rates recovered and panamax rates slipped further.

The overall index, which reflects daily freight market prices for capesize, panamax, supramax and handysize dry bulk transport vessels, remained at 916 points from Wednesday.

The Baltic's capesize index rose 1 percent to 2,119 points.

Average daily earnings for capesizes, which usually transport 150,000 tonne cargoes such as iron ore and coal, were up $140 at $13,685. Capesize rates recovered after falling for six straight sessions.

Iron ore rose to its highest in more than three months and traders upped offers on Thursday for cargoes for sale to top buyer China, hoping to sustain what has been a gradual increase in prices, with steel demand largely stable.

Iron ore shipments account for around a third of seaborne volumes on the larger capesizes, and brokers said price developments remained a key factor for dry freight.

The panamax index fell 1.49 percent, with average daily earnings down $84 at $5,820.

Panamaxes typically transport 60,000-70,000 tonne cargoes of coal or grain.

"The Atlantic market is horrible and holding the indices back," Andy Jamison, shipping blogger and owner of the Virtual Shipbroker, said.

The outlook does not look great in the mid-term with crop estimates slashed in the U.S and the Black Sea, Jamison added.

Average daily earnings for handysize ships were down $44 at$6,045, while those of supramax ships were down $26 at $6,735. (Reporting by NR Sethuraman in Bangalore; editing by Keiron Henderson)

White men cannot shipbroke?

From a reader of the blog (i have changed one or two items to protect the identity)

 

 

Quote

 

Dear Sir,

How are you? Last time we did communicate via mail regarding my traineeship and I have another question to ask you.

Just want to share with you the company is good and the people is nice. I really enjoy working there and they currently assign me to the operation desk and hopefully will move to chartering desk in the future.

However, I faced a big barrier in this field, I can drink and social but just can't dance in the nightclub with my colleagues. I found my body is too stiff to move with the music and the way they dance looks quite stupid and silly. Two of my male colleagues seem to not so respect me due to my inability to dance.

My doubt is does dancing is one of the social skill that a successful shipbroker must possessed?

Please sir shred some light or opinion on my doubt. I trying my very best in this field but I feel it is like a dead end for me.

Thanks and good day.

Yours faithfully,
Twoleftfeet

Unquote

My father once said "Son - if you are crap at something - do something else"...

Alternative strategies I recommend

1. Do not even attempt to dance. Tell your colleagues that you have lower back problems, or you have a pulled hamstring from playing football.

2. Tell them that only sissies dance and then over compensate by drinking more beer than all the others put together.

3. Don't let your lack of coordination worry you. No one really cares if you can or cannot dance. Be content to sit at the table and smile at everyone else making fools of themselves. This is my modus operandi and I am sure it will work for you!

4. Watch this video and learn some moves

Yours
The Virtual Shipbroker