I am sorry to state the obvious but, sometimes, it seems we forget the basics or we take for granted what should be always checked first;
-A fixture which never came through, since charts failed to lift the subjs, is not to be considered a fixture, at all!
Therefore the hire/freight of such failed biz can't and shouldn't be a guidance to what the freight market levels are!
-(Since when a failed fixture can be a guidance for owners or brokers? Is an athlete's failed try to high jump 2.50 m a guide that men jump 2.50 m?).
-There are few, (happily), charterers who have no firm biz in their hands, (L/C is not opened/sales contract under negos), who indicate high rates to attract/secure the vessel and they even start firm negos with owners but failed to lift the subjs, left vessels in spot position, (something we all experience in large scale recently), and instigated the false rate as a guide!
- A Charter fixture is considered to have been realised ONLY when is CLEAN OF SUBJS and when the FREIGHT or at least the first HIRE is being PAID, cleared in owners bank a/c!
-Reported, fictitious hire or freight numbers, derriving from Freight Derivatives, 'paper' market, or RECORD FIXTURES - who knows how done -as source of info/guidance is not pragmatic/true FOR US!
-There are men who make high jumps over 2.40 meters (Javier Sotomayor /WR since 1993) but this doesn't reflect what the average athlete can do or the average ordinary man!
Please ppose to us any firm business (L/C is in place) and preferrably, cargo at port ready for loading, and when quoting a vessel kindly check what is the physical market paying empirically and not what the 'paper' market is expecting to make or the reports/promote as a guidance.
Freight Rates are determined by the doctrine of supply and demand ONLY and not by feeding owners expectations with ideas based on speculation. To set ones records straight, more effort is required, in real time, in the physical market, instead parrot /quoting what is published/read. Owners and Chrts alike need useful advise/consultancy from WHAT ONE HAS PERSONALLY EXPERIENCED/TOUCHED- NOT READ!
Wishing successful fixtures to all!
Sincerely yours
Shipowners Trust International Corporation (S.T.I.C)
Anastasios Maraslis
President/Director.
