John Faraclas
Indeed at these low levels the BDI calls the shots. Many are filling for “bankruptcy”, others are laying tonnage, quite a big number are pouring money-in to keep their tonnage afloat; as said last time round a minimum of US$ 2, 500.00 is the per diem cost at best. Only few might be successful having more than ample funds to spare; all others are pouring money in the rat hole! John Faraclas writes:
When you see first class owners and managers fixing their tonnage for 12 to 18 months that seems to be the critical period, so it’s up to the charterers to perform…
Anyway, with just one point up the BDI at 316 really calls the shots; must repeat that.
The BCI 2014 was down 10 points and below the 200 points threshold…
The Panamaxes and their respective BPI was five points down at 350…
The BSI was up 12 points at 298 as did with just two the BHSI clocking 200… and making the balance for all in the dry market.
Down for both wets. The last published BDTI and BCTI were seven and two points down at 799 and 524 respectively.
The price of WTI stood just above the US$ 33…. Volatility and uncertainty at its best!
Geopolitically, let’s see how the Syrian proxy world war three will conclude phase one, as all nation’s destiny in the region is interwoven and we don’t want even to think for a major domino effect…
BREXIT and GREXIT still on the cards.
Those who believe BREXIT is good they can see how the United Kingdom and conversely the Empire contracted following the two world wars… This time the problem will be far worse. Remaining in the European Union with a total revamp of the entire European Union will be the best direction. All European Union Nations must “revolt” given what is going on and rectify the initial scope of the union. Only this way Russia will stay put, the Islamist will get the message, Chine will follow suit and the US will understand who really and why must call the shots.
As we have numerous times said, the EUU cannot tie its bow tie so to speak, I mean to solve the despicable Migrants issue foe which relentlessly we have urged all to use a Naval Blockade all over the Turkish coastline before it is too late. All other measures are either naïve or on purpose falling sort of the Turkish blackmail.
Wonder what will dictate the banks to allow tonnage to be scrapped.
Equally wonder for how long slipping with he shipyards can continue…
