Financial Districts Turned Ghost Towns, Commercial Real Estate Rents Plummet, Shipping $125,000/Day

Subscribe to our backup channel http://bit.ly/odyseesru http://silverreportuncut.com Subscribe to the SRU podcast http://soundcloud.com/silverreport http://silverreportuncut.podbean.com Follow Us On Telegram http://t.me/silverreport & https://parler.com/profile/silverreport/posts anyone can post on our public group http://t.me/silverreportforum Ad revenue is down almost 70%, it's viewers like you who help keep the sru coming! you can donate via crypto at our website or consider supporting our work on http://buymeacoffee.com/silverreport https://www.patreon.com/silverreport Office activity in major cities like New York, London, and San Francisco is still about 50% below pre-crisis levels, according to a new report by Bloomberg. In Frankfurt, bars and cafes are open again, but "the financial district continues to be eerily deserted, with only the occasional worker entering or leaving one of the city’s many high-rise buildings," the report notes. Mobility data provided by Google for the region suggests activity is down about 17% from prior to the start of the shutdown, despite Frankfurt being one of Europe's busiest hubs. In London, there was another blow to the city's restaurants, pubs and retailers. Traffic in the Square Mile had begun to pick up prior to Johnson's recent announcement, according to location data compiled by Mapbox. Less than 40% of people are using trains compared to numbers before the madness began. there is also significant vacancies in the city’s commercial real estate market, with supply reaching its highest level in "at least three decades" in the first quarter of 2021. Shipping rates have really got out of hand the American Shipper reported, the 15-year-old, 5,060-twenty-foot equivalent unit (TEU) S Santiago was chartered at $135,000 per day for 45-90 days. Alphaliner subsequently reported that the 4,506-TEU CO OSAKA was chartered for two months at $125,000 per day. Speaking on the Marine Money panel, Symeon Pariaros, chief administrative officer of Euroseas (NASDAQ: ESEA), pointed to “owners taking very short-duration charters at stratospheric levels.” He cited a ship of the same size as the CO OSAKA getting $90,000 per day in recent weeks. Constantin Baack, CEO of MPC Container Ships (Oslo: MPCC), revealed a new deal that sounds like a record in terms of dollars per day per TEU of ship capacity. “The new normal for vessels of up to 5,000 TEUs is a charter duration of two to four years. If you go shorter you get a significant premium. If you have the right vessel in the right place you can get astronomical rates in the short term,” he said. “We have just fixed [chartered] a 2,800-TEU vessel at above $100,000 per day for 65 to 80 days. We bought that ship, which was [built in] 2008, for $8 million. This charter alone pays $8 million. That gives you an idea of how interesting the market is at the moment if you catch the right deal.

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