With a low market, close to mid 700s the BDI brings shivering feelings to the majority of the markets stakeholders and the tremors can now be felt… This comes at no surprise to us as we have well in advance warned you!
This is our twenty- ninth overview today Friday the First of August 2014 of www.allaboutshipping.co.uk with John Faraclas in Athens.
The BDI closed down four points since yesterday 31 July 2014 at 751 points which is twelve points up since last week’s 739 points. Nothing spectacular here; just an unsustainable market… This is 1, 476 points down since last December closing of 2, 227 points a 66.3 centum fall… Caution, caution, caution!
- The BCI closed down 19 points to 1, 176 points which is 17 points down since last week’s 1, 193 points!
- The BPI was down at 611 points, i.e minus 8 points since yesterday and plus five since last week’s 606 points
- The BSI was also up another 12 points at 728 but also 49 points plus since last week’ 679 points
- The BHSI was up 2 points at 357 points and unchanged since last week
So overall, once again a low dry market and as we are in the middle of the summer and with whatever takes place around with the geopolitical and economic issues, a problematic market.-
The wets were both down with the BDTI closing down 9 points at 833 which is 98 points down since last week’s 931 – following an upwards course over the last two weeks. The cleans did worse with a 15 points drop to 556 which is 14 points down since last week’s 570 points.
The Liner Trades are also in a bit of disarray; caution yet again.
The World Stage now:
The air crashes investigations continue and we hope something positive will come out from these macabre sagas…
- Ukraine: still going from worse to worse… and will produce further worldwide tremors irrespective of the “sanctions”; there are counter sanctions too! Remember this…
- The Middle East, and in particular the Arab-Israeli conflict becomes a carnage yet again. Remember: we have asked the diplomats to resign. Too late to investigate the atrocities of both sides, which add to the havoc and if not contained will break up the word in two: remember this!
- Libya’s messy latest situation will produce further destabilising effects in the wider area; caution…
- The Far East continues yet again to be the focal point with North Korea testing short range missiles… Wonder how Japan “retaliates”…
- 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…
- Argentina: yet another default, but whose fault is it this time?
- The sixth tip for your summer vacation: Sardinia where five civilisations meet in the green forests and turquoise seas…
WISTA-UK gala was more than a success; we will shorty have a full report. meantime, as you all know, WISTA Cyprus gets ready for a big international event in October. Lets connect!
Wishing you a nice weekend and enjoy the summer holidays wherever you are!
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