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Shipping markets still low… caution!

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John Faraclas

John Faraclas

With a low market, close to 700 points the BDI brings havoc and the wets in mixed levels might add to a major market grounding with incalculable repercussions… 

This is our twenty-eighth overview today Friday the 25th of July 2014 of www.allaboutshipping.co.uk with John Faraclas on the Island of the Winds: Chios; the most powerful shipping island on earth and one of the best touristic destinations to all intents and purposes*.

  • The BDI closed up seven points since yesterday at 739 which is also seven points up since last week’s 732 points, a mere coincidence which is on all counts a very low market.  It even reach 723 points last Tuesday the 22nd of July – the lowest so far this year, a  66.86 percent downfall since the end of December 2013 when the BDI stood at 2, 227 points, suggesting, once again difficult times ahead. Caution, caution, caution!
  • The BCI, closed down 8 points to 1, 193 points which is 42 points down since last week’s 1, 235 points!
  • The BPI was up ten points at 606 since yesterday, and a further 20 points up since last week’s 586…
  • The BSI was also up another 13 points at 679 points which is also 20 points since last week’s 659 points.-
  • The BHSI  down one point at 357 points since yesterday but down 15 points since last week’s 372…

So overall, once again a low market and as we are in the middle of the summer and with whatever takes place around with the geopolitical and economic issues a market which will create soon havoc… is ante portas!

The wets were with mixed results, the BDTI closing down 15 points at 931 – following an upwards course over the last two weeks, which is 35 points up since last week’s 896 points. The cleans did ….better with the BCTI  at 570 up 5 points, which is also a plus 31 points since last week!

The World Stage now:

Two more air crashes with an Air Algerie flight AH5017 and another one from the Trans Asia fleet of Taiwan creating another mess following the two Malaysian Airlines disasters. The MH-17 will bother us though for the foreseeable future as it will open the Pandora’s Box of revelations if we reach a verdict on the  MH-370… As we said last week: the shit will hit the fan…

  • Ukraine: going from worse to worse… and will produce further worldwide tremors!!
  •  The Middle East,  meaning the Arab-Israeli conflict which adds to the havoc and if not contained will break up the word in two: remember this!
  • The Far East continues to be the focal point as it affects immediately 4 billion people in the region. Lets see what president Obama does there….
  • Europe still on tatters. The big question will be: What happens after Mrs. Merkel resigns…or simply leave politics. Add the messy economic environment and see what you get…
  • Piracy and terrorism, as we mentioned even in our last week’s report with the “Threats for attacks by terrorists et al are on the way and lets be on alert. Not a nice time amidst the summer vacation…”, and following the IMB’s report which you can see in the site, brings us the fear for the seafarers and their families! We repeat: we need peace as those of you who interrupt travelling for touristic purposes and leisure, they will interrupt our shipping business travel, they put our seafarers at risks and their families will go berserk if something happens. Enough is enough!
  • The fifth tip for your summer vacation: Lampedusa the oasis of Italy in the Med. Lampedusa between Malta and Tunisia, two great destinations too, will offer you unforgettable moments. Have a go there and you will remember us.

Wishing you a nice weekend and enjoy the summer holidays wherever you are!

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