The Square Mile under pressure
What a multi-crash that was today, if I may say so myself!
The Baltic Dry Index (BDI) was minus five points at 358… The Capers and their BCI 2015 up, YES up ONE point at 186… The Panamaxes (BPI) and Supras (BSI) both down nine at 360 and 372 respectively with the Handies (BHSI) struggling at 238, a minus two points…
The last published BDTi and BCTI stood at 882 (no change) and 693 (down nine)… Tough…
The oil prices crashed with the Brent at US$ 27, 28!!!! AND the WTI at US$ 28, 33; what a crash? Wonder what will the Iranian oil and tankers saga add to all these numbers and levels… I leave it to the historians and the “gurus” to “re-write” business energy economics, pricing and branding, YES branding!
London’s FTSE 100 was also down just over 200 points to 5, 673; compare this with April’s 2014 when it stood at 7, 103 points!!!! Germany’s DAX and Paris’ CAC 40 were also down 2, 82 and 3, 45 centum respectively. Similar falls in Wall Street with the Dow Jones, S&P 500 and NASDAQ falling at a modest 3 centum.
The world was focused on Greece (…and the PIGS), but it’s France’s turn to go under. Can Hollande resurrect the French Economy? Moreover the Rouble become another bubble…. What will be Putin’s reaction?
Let’s see what this DAVOS will bring out…
I wouldn’t refer to the Far East and the Subcontinent nor to the Middle East – Dubai closing to a 28 months low…
Overall, we reiterate the view that this is the most ideal market to build ships; the chance of your life! A buyers’ market, despite the fact that the world economy is sinking… Shipping for the very few, and why not… Recomending you to read and study again our last reports as same are interwoven with today’s…
*William Shakespeare would also have like it…
