The geopolitics and “the Economy stupid” – to …paraphrase the former US President Bill Clinton, the world economic chaos, religous wars, energy issues, China et al are the parameters which brought down the market. Add greediness and lack of finance and see what’s next… John Faraclas writes:
With minus five points the BDI closed down at 468 making history yet again; an all times low. The Capers down ten at 462 and the Panamaxes’ BPI at plus two standing at 466 couldn’t close the gap.. and the BSI down four at 445 tells the story… BHSI down 1 at 266!!! The rest is history!
The wets on the antipode: triple digit up for both the BDTI and BCTI: 196 and 108 making the 1, 065 and 688 levels respctively a reality.
The drums of war though can be heard from many different places…
Most stakeholder forget the fact that every 500 (five hundred) years +/- 25, the world is under an upheaval! Armageddon everywhere, on all fronts… The expected upward trend during Q3 last year failed s p e c t a c u la r l y !!!!!
We will revert with a full story updating the markets; Epiphany tomorrow can make us all pause, contemplate and start to save the day. In the meantime we reiterate the view that this is the best market to buy second hand and or order newbuldings! The most capable shipowners will survive!