The Baltic Exchange
Another day for the Capers but not like yesterday! The BCI close at 2099, up 78 points, which is 60 percent less than yesterday. Wonder when this Capes “euphoria” stops. On thing is for sure: the rest of the market remains as it was, with _/+ 2/3 points respectively (BPI 926 down 2, BSI 913, up 3, BHSI 517, down 1). The BDI close at 1091, up 31 points which means that if the Capers weren’t up the market was going to slide towards or under the 1, 000 points barrier. On the wets, the BDTI close at 642, up 11 points, whilst the BCTI was down 4 at 561.-
The Egyptian saga with the Suez Canal being the number one concern of the shipping fraternity, already sends shocking waves. Moreover Alexandria too and other Egyptian ports and terminals can become another area of violence and no one knows what next, given the stubbornness of both sides.
In general there will be some increased demand, but with the overcapacity in its peak, the rates aren’t what one should expect. at the other end of the Market, liner business is doing well! The LNG projects could do better as the finance lines are open, that’s the good news!
The Canal and its convoys operates normally and hope provisions are there and the famous plan B exists to maintain smooth transits; caution should be exercised!
