Home » The BDI @ 337…and the Market completely bottoms-out
John Faraclas

John Faraclas

Hurray, amids the one-in-a-life-time Marine Money London conference at The Dorchester on Park Lane  during lunch when the indices were available, at last we are seeing the bottom so soon many troubles would seem far away* John Faraclas comments:

The BDI was down eight points at 337, the Capers’ BDI down seven at 235, the BPI down nine, the Supras’ BSI down 11 at 327, the Handies and the respective NHSI down four points at 225; wooooow what a dry market!

The wets too suffered some losses too with the last bublished BDTI and BCTI standing at 820 and 674 respectively, that’s minus 18 and six points.

Bunkrapties in all fronts is the name of the game. I strongly believe that this time banks et al have learned their lesson well. Good luck to all these, very very very  few shipowners, private or listed with good balance sheets and a plan that will go ahead amid a geopolitical turmoil, which for sure will deteriorate, in the next phase…

Now then, isn’t great to see all these happenings and see blood in the water as appropriately Leon Patitsas mentioned in his excellent speech earlier on – in fact he mentioned “blood in the street”, but alas, it’s blood in the water!

The final countdown has begun!

I guess today’s super event will remain as the one which witnessed the rocking of the markets and the 300 plus delegates had four major networking sessions, the last one until very late.

Back to the drawing board; excellent. Starting over again with new players too.

* to paraphrase the famous Beatles song: “Yesterday”

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