The BDI gained just another three points today closing at 335, but the Capers made the headlines! Very low levels for expensive tonnage with hopes dashed…
The Panamaxes gained seven, now standing at 364 and the Supras clinched another five clocking 350. The BHSI was also three points up at 220 points.
The last published BDTI and BCTI stood at 722 (that’s minus eight) and 515 (same as last one) respectively.
The overall dry market is a very big question, there are more lay-ups, delistings and other sad phenomena, yet in our view the market is perfect for acquiring tonnage; the best ever market vis-à-vis prices. It is more than evident now that the 90 centum of companies never ever had an appropriate risk assessment plan in place to weather the storm. We are proud of having long ago predicted the current state of the markets as well as that of geopolitics.
The price of WTI stood at US$ 34… let’s see what happens next…
The Mare Forum Maritime Transportation of Energy 2016 International Conference in Athens Hilton earlier on today addressed some very important issues on energy and conversely geopolitics. On all counts the best ever event of its kind. Great presentations from the top enhelon of the industry’s stakeholders, as well as heated mini debates took place and continued over an excellent Grecian dinner sponsored by The Marshall Islands.
Greece, the European Union and its odd regulatory regime, The Migrants Shame for all issue, Exploration synergies, Safety and Security, The Russian agenda, The Syrian Saga, Iran, Saudi Arabia, Eastern Med the price of oil, Pipelines, Pipelines versus ships, Ukraine, Human Resourses, the eventual birth of Kurdistan, The US elections and the dry markets were issues thoroughly discussed. Conclusion: be on guard! An event that must be repeated. Watch this space.