Allaboutshipping.co.uk’s first live overview of the Shipping Markets and the World Economy for 2014 was presented earlier this Friday evening by John Faraclas who was more than provocative than ever before…
The Shipping Markets first
Earlier this afternoon the the BDI closed down to 1, 421 points, down 91 from last week’s 1512. The BCI was 2, 026 up 97 from the previous day and overall 75 points down from last Friday 10 January. The BPI was down 6 points to 1, 564 versus 1, 621 the previous week, a further 57 points down. The BSI ended at 1, 165 points down 10 from last Thursday, down 25 points from last week’s 1, 190 points and the BHSI was down to 713 points, minus 11 points from last Friday… At one point earlier in the week, the BDI was even down to 1, 370 point-mark!
The World Economy
Faraclas further reminded that Karmen Reinhart and Kenneth Rogof view in the latest Economist, declared the worst economic situ for 100 years; he also reminded that long before, in July 2008, he made a written prognosis both for the shipping markets as well as for the world economy and he was verbatim right to the detriment of many, who never ever believed what was going to come or knew and “played” a pivotal role to worsen same… The dire straits issue, Panama Canal. Nicaragua’s and Colombia’s as well as Istanbul’s future Kanal were discussed. The above and other issues can be heard in the live video herebelow; enjoy the weekend, Happy New Year and be on guard!