With the BDI minus four points at 474, the Capers and its BCI index down 27 points at 485, and despite the Panamaxes dozen points up at 445 the markets and the respective Dry Indices are just a flash in the pan*! John Faraclas comments:
The BSI remained unchanged at 449 points and the Handies’ BHSI dropped further down to 271 ( minus two points).
On the wets, and despite a rise of WTI and Brent following suit, the Dirties’ BDTI closed down eight points at 889 and the Cleans Index, the BCTI was up three to …make the difference. Caution.
The Box Trade though promises a bit of further fruitful consolidation on all fronts making it possible for rates improvements. We shall see though…
LNG’s and LPG’s the cargoes to watch.
P.S. Will it be better for some entities a cut and run**, before the stock market crashes further?
*A flash in the pan: False, temporary success. In old flintlock muskets, flint sparks were meant to ignite a small charge of gunpowder in a pan next to the touch hole, in turn setting off the main charge. Sometimes, however, the gunpowder in the pan flashed but the gun didn’t go off.
**Cut and run: Escape in a hurry. To prevent a bad storm damaging a ship at anchor, the hemp anchor rope could be cut and the ship allowed to run before the wind.
N.B.: On purpose I have chosen these phrases, which are very familiar and indeed shipwise too…