Oh well; a minus day after the volatility’s rich …pickings, …the Ides of March and April’s …fools figures – the demons are out and about …”cursing” everything. John Faraclas reports on the day the market …got it wrong!
The BDI closed earlier on down two points at 669, the Capers, the most volatile of all sizes down 43 at 1, 022 points. The Panamaxes gained just one point (BPI @ 747) and the Supras’ BSI a plus nine now standing at 543 points. The Handies’ BHSI at 342, another plus of eight points. Tough times!
The Wets too, given the uncertainty on the oil production levels and warring fronts lost three and one point respectively – BDTI@ 787 and BCTI @ 535!
The price of oil struggles to maintain the WTI @ US$ 40….
The Geopolitics very simply are getting worse. Many now believe that we are going to face the music. Add the technological advancement on Naval architecture and propulsion means and you can soon see that many vessels are obsolete! …conversely shipyards will have a lot to do, particularly those who will survive the current slum; otherwise the social upturn will be inevitable !
Caution, Caution, Caution; have a nice evening!