John Faraclas
The first day of the Year of the Monkey was marred by the Baltic’s Dry Index new all times record low at 293 points, down four since last Friday the 5th of February! John Faraclas comments:
Five points down for the BCI 2014 at 207; minus three for the Panamaxes and its respective BPI index now standing at 298. Supras down seven clocking 255 and the Handies’ BHSI down four at 190! D I S A S T E R!
The wets too down five for the Dirties’ BDTI now at 795 and down 21! for the Cleans’ BCTI now at 588. Another disaster…
The price of oil fluctuates and now stands at just above US$ 30…
Geopolitics are getting worse and instability is ante portas for many countries. Greece is entering a very dangerous period, so does the entire of Europe with the Migrants and a fully destabilized Middle East and North Africa AND the Morocco to Afghanistan zone on fire… North Korea too will bring more mess. You don’t need more to realise how bad is the situation. Contrary to all these happenings, the time is ripe to go ahead and acquire tonnage! An oxymoron, yes, but on the other hand, a pragmatic position. No dilemmas !
Its greediness stupid, NOT the economy! Greediness in its entirety that brought the Indices down…
Have a nice evening; tomorrow it is another day, the 9th of February 2016!
