Today marked the lowest ever Baltic Dry Index clocking just 504 points, down 15 from yesterday, minus 11, 243 from its highest in May 2008 when it stood at 11, 747 points, and down 1, 770 points since December’s 2013 closing of 2, 274 being the point of no return – for the time being. Would that be called a black Thursday – not withstanding what tomorrow Friday can bring in…? John Faraclas writes:
It was something well expected from us in AllAboutShipping, not just over the last year or so, but for a quite a long time since the international geopolitical climate, unfair competition and change of the shipping patterns and its modus operandi was directing the markets and in particular that of shipping to a point of no return. Add a totally new world order and what is yet to come and you can see how we manage to come out with the correct predictions. Indeed we are fortune tellers for any size and type of ship you want to know!
Despite our prediction over the last four and a half years and my personal ones, all in writing, we still believe that this is the best market to recapitulate and go forward subject your counterparts and other stakeholders involved in the shipping saga know their bit!
From an in depth analysis over the last 40 years I have come to the conclusion, that in our industry, if there is something to be gained out of this situation (having lived hands on in four cycles and two ovals) by heeding the message ‘what shall be, shall be’, its is that we should have known how to tackle uncertainty which shapes the events surrounding our industry as we have always to choose and live a life of shipping business adaption, coupled with flexibility. Unforeseen circumstances and changes is the name of the game.
Perhaps foremost in establishing our credibility is our unique track record in forecasting the markets and we thank all those who have entrusted us and our views, particularly the media for airing same.
Just for the record, the other indices closed as follows: BCI 619 down 52, BPI 468 down 9, BSI 479 down 12 and BHSI 290 down 2. The wets too in… disarray with the BDTI despite the plus eight points closed at 879 and the BCTI was down six closing at 522!
And now? Well, not back to …the future, as everyone wants to see what the future can bring; the future doesn’t exist! The pragmatic thing is that for each of us in shipping, whether we run dry, wet or box-ships, it is the variable futures, an infinite number of possible futures that emerges and we must grasp the opportunities coupled with sheer vision and intuition to maintain our vested interests.
As an advice to save and further your business, being listed or not, tramp or liner, big or small you have to remember that you stir up waters to catch fish! Good night!