Allaboutshipping.co.uk’s second live overview of the Shipping Markets and the World Economy for 2014 was presented earlier this Friday evening the 24th of January 2014 by John Faraclas who was once again more than provocative…
The Shipping Markets skyfall…
The BDI closed earlier today down to 1, 246 points, down 25 from yesterday, 175 since last week and 981 exactly a month ago, that is a 44, 06 centum down, proving that our bold prognosis was once again correct!
The BCI, which was the main index driving the market up and down was down 52 points since yesterday at 1, 723, the BPI down at 1, 437, the BSI down at 1, 112 and the BHSI down at 712! The wet cargoes despite some good pickings are now down too, with the BDTI at 1, 242, minus 80 points and the BCTI dwon at 605 down 4 points.
So is its volatility the worsening of the world economy, overcapacity or what? I guess the whole issue is an issue of luck of business disciplines (yes disciplines in plural!)
The World Economy
The world economy still is under the influences of wrong economic policies and there is more to come. Argentina in trouble yet again; things might turn sour again! Turkey in tatters too. Mr. Erdogan will face very strange situations…
The Greek corruption saga continues and there is more to come, but we need to see more hard line by the judges as the excuses of many of the accused fraudsters do not have a leg to stand! Turkey, Germany and other countries too are in a big corruption mess!
The above and other issues can be heard live in the video which follows; have a nice weekend and watch this space; Thank you.