John Faraclas
Time and again we have warned all those with vested interest in the shipping adventure to take cover; from what we can see, very few did; the results are now publicly known… John Faraclas comments on the state of the shipping markets and geopolitics affecting same:
The BDI closed down earlier on today at 402, dropping for the sixth consecutive day, that is 13 points down since yesterday Monday the 11th of January, another all-time low, approaching the barrier of 400 which if broken, the situation will be between the devil and the deep blue sea…
The BCI down 48 points bottomed out at 266, another all-time low! Panamaxes and their respective index, the BPI was nine points down at 411! The supras’ BSI down six at 416 and finally the handies’ BHSI down one at 250!
The wets too were …dried-out with the last published BDTI and BCTI down 28 and one point respectively at 988 and 715!
The Brent fell below US$ 31, trading at US$ 30.50 and the WTI was US$ 30.47! Now, can you imagine going below US$20? Oh boy, the Moscow boys will go red! A case of cock and bull will evolve…
Geopolitically the despicable terrorist attack in Constantinople (Istanbul) and the unbelievable interception and arrest of nearly a dozen US Navy personnel by the Iranians in a period when Kerry did his best for the nuclear deal, looks to me as “irons in the fire”. We shall see. All this happening after a Danish delegation visited Iran as well as from others from EU states to begin a new era with Iran.
The Migrants too will create a very big mess unless politicians in Europe get the message of the coming bloody mess, a crash so to speak and they understand as well as the Migrants that “the end of the tether come”.-
So, lets see what tomorrow brings, but I reiterate that this is the best market for buyers, for the very few and why not, to progress successfully further in the shipping industry. Worth studying our yesterday’s report.
Tempora mutantur, et nos mutamur in illis…
