With smaller sizes making “gains” and many willing sellers ready to avoid the Armageddon the shipping markets enter into its most interesting phase of events… John Faraclas reports:
Up seven points for the BDI now standing at 342, given the double digit upwards trend of the BPI (Panamaxes) and BSI (Supras) at 374 (+10) and 363 (+13) respectively . The Handies too were up seven points clocking 227!
Perfect levels to weather the storm; sounds cynical, but very very true. The best ever, as numerous times reported over the last month buyers’ market – need though a good balance sheet and ample cash! If you belong to those affluent shipping tycoon’s, please proceed. The distressed ships are your oystersssss!
On the wet, mixed feelings. The last published BDTI and BCTI were 717 – down five and 517 – up two!
Geopolitics continue to build up another world order so to speak, on all fronts and levels. Society is at the brink of asymmetrical changes. We keep it brief so you can comment and ask; we will respond!