With five points plus the BDI at 354 is obviously at the nadir… John Faraclas writes:
- The BCI down three points at 161 makes waves and the most expensive of dry vessels are rock bottom.
- The BPI gained a double digit, that is 11 points… clocking 397 points
- The BSI up six at 377 points and the BHSI up five at 237 reconfirm the low market.
Some good deals take place both in chartering and sale and purchase, with Diana fixing Myrsini with RWE on period at a very good level given the market parametres and Vafias’ interests obtained 169, 000-dwt the C Winner (built 2008) for just US$11m.
The Dry market will only make sense once we see Capers making US$ 15, 000, Panamaxes US$ 10, 000 on period, otherwise don’t count your eggs before they are thatched.
The Wets with mixed feelings; the last published BDTI and BCTI ended at 720, that’s five points plus, the first plus figure after a long time and 518, that’s one point down…
The price of oil sets its course for the US$ 40 mark, but with volatility, increase production and geopolitics in a bigger mess than last week, you never know what we might encounter.
Mentioning geopolitics it remains to be seen what will come out from the Migrants conferences and all that jazz of deliberations with the EU and Turkey and others in the background. How do you deal with pesters and nations which use even diplomatic blackmail? All things being equal, at best this situation is despicable and wait for the mess to spill over!
- Terrorist suffered losses in Somalia by US led efforts; nice one!
- The MH370 resurfaces with Chinese families seeking answers…
- Messy South American issues need to be shorted out…
- The USA election campaign still goes strong…
- The rest of the world too is in a total mess – political, religious, and economic, so take cover.
Despite all the above this is the best ever market to acquire low priced tonnage and order super ships from all points of view. Expect though soon some mega bankruptcies and scandals.
Have a good evening!