The latest John Faraclas live interview to Lilian Margaritis of SBC TV last Friday, the 9th of August 2013, proved once again our prediction on the market’s unreliability with the BDI dropping to 1001 points; please click below, listen* and comment:
Ms Margaritis begun in mentioning the concern that Faraclas had with respect the course of the markets and the respective indices The dropping markets, with the BDI diving at 1001 points, a fraction to break the 1000 barrier and the other dry indices all on a skyfall – BCI 1813 down 16, BPI 948 down 14, BSI 911 down 2 and BHSI 521 down 1 proves our well predicted view. As for the wets, there we had a short of balance with the BDTI at 629 up 8, but the cleans dropped to 580 down 10 – all +/- are from the previous days closure. Bear in mind that overall, since the 2nd of August, the Dry index fell 64 points!
Faraclas mentioned the old maxim that “The sea gets sick but never dies”, that it is not just the case anymore; forget the overcapacity but the world-wide uncertainty influences the markets, all markets.
The best thing many should do is even to lay-up tonnage, as it costs an arm and a leg to run ships far below the break-even points, and at the end of the day: you don’t throw good money after bad…
The Gibraltar issue was mentioned as well as other issues and same can be soon heard and seen in the site – the delay is due to technical reasons.
Click here, see and listen to the live video: