John Faraclas – picture by ecopack77
The BDI (Baltic Dry Index) ended the day with yet another fall; at 1,009 – minus 55 might soon create one of the biggest disasters in shipping’s recent history if it goes below the 1,000 point-threshold, something though more than possible… We have seen the highs of 11,793 on the 20th of May 2008, but also the lows of 662 in December 2008 and 290 on the 10th of February 2016 – the absolute bottom… Brace of and for the unthinkable …just in case… Geopolitics get sour on all fronts and amid all this mess the world awaits tomorrow the possible finale so to speak on the BREXIT and on the 21st of November Brussels’ response to the Italian budget saga which threatens to go over and above any of Mount Vesuvius’ previous eruptions… CAUTION. John Faraclas’ brief daily recap:
The Capes’ BCI lost its last threshold that of the 1,000 and following the triple-digit loss of 213 points now stands at 940… That’s the harsh truth… err REALITY!
The Panamaxes lost 14 points and the BPI now reads 1,484…
Minor losses but losses for both the Supras and Handies; the BSI now stands at 982 – minus four and the BHSI reads 652 – minis one!
Just a reminder for the modest market situ: we are 1,238 points below the end of December 2013 level of 2,247 points and that’s the harsh reality for which we are more than proud to demonstrate and remind to the hoi polloi… Sorry guys and dolls you have spectacularly failed and lost given your predictions so far; end of the story. We are not employing irony and we will never do so, but here we are seating comfortably and sleeping without any worries…or guilt… Indeed we want to see the BDI above the 2,000 point mark and both the Wets above the 1,000 points but…
The Wets followed …suit; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,082 minus four and 652 minus two points respectively!
Did I hear you say scrubbers… Let’s watch carefully this monumental hypocrisy and were same will lead us…
A bit of “controversy” with the WTI clinching a few cents and now stands at US$ 56.25… What’s next with this “cookie”…
We will not bother you tonight much with Geopolitics except for the MIGRANTS – getting worse and we eagerly await to see what will happen with the caravan arriving in the USA-Mexican border – some elements are already there… BREXIT: hold your breath until this is over one way or another although the signs are encouraging from the fighter PM Theresa May point of view and position ! Don’t count though your eggs before they are thatched… Italy: Expect the Romans to surface yet again and smash the bureaucrats of Brussels. Eh Basta ! All other main issues which we cover remain the same… and we should be very cautious as amongst other things the stock markets are in red, the USA got US$ 100 billion worse and Planet Ocean is totally BANKRUPT! Wake up!
That’s all for tonight; have a nice evening and remain on guard from actions emanating for Pirates, Terrorists and any Criminal whatsoever wherever you are on Planet Ocean!
