Home MarketsStatisticsArctic Shipping Caution: Another record low for the BDI now standing at 509…

IMIF Baltic 01 July 2013 001Deep down my heart and conscience I am pleased with this outcome of the destruction of the dry and wet markets, as the perpetual euphoria some years ago  (11, 793 points in May 2008), created this upheaval which on the other hand is a promising sign for new ventures, investment and new beginnings! John Faraclas writes:

The Wets too are in disarray and altogether with the geopolitics which affect all markets it remains to be seen who are ready to get soon the rich pickings.

Time for Nemesis too as those makers and shakers having the wrong advisors are now in tatters.

A great market for the few, a market very promising for consolidation and above all a great moment to enter the newbuilding market for all types of ships altogether. A market for the very few, at last as too many players created the biggest mess in shipping history; and hold your breath: there is more to come!

For the record the BDI was minus seven points today at 509, the BCI was down 25 at 564 points, the BPI was up 6 points at 514 (the only size from the dries to be on a plus modus), the BSI was down 2 points at 478 and the BHSI was down just one point at 260…

Once again mixed feelings for the Wets with the BDTI (the dirties) down 12 points at 841 and the BCTI (the cleans) up 13 points at 592. Both though are far below the expected good market levels.

The oil issue will bother us for a while  with OPEC having strange developments. Whether it will gain its lost ground in a year’s time or by 2035 it remains to be seen. Make your own calculations.

Did I hear you say shale gas?

The box trade is another promising investment and I guess some non liner individuals will set up another trade; watch this space!

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