No change today for the BDI following nearly a week of dropping; John Faraclas’ market briefing.
The BCI 2014 was up 11 points standing at 724, proving once again the Capers’ volatility; the Panamaxes too saw a rise of six points with the BPI at 589.
Supras and Handies though were down five and two points respectively at 555 and 347!
Overall an awful dry market with many feeling uncomfortable…
The price of oil climbing up at US$ 46 plus sending alarms; imagine if the WTI was US$80 or even 100 today…
The Geopolitical situation goes from worse to worse in all fronts. There will be “wild fires” everywhere and wonder if there is enough means to put it off… The world is on fire; more tomorrow when the week ends. Be on guard.
Despite all the above, market levels and geopolitics, we reiterate the view that this is the most favourable market to acquire newbuildings and good five-year old second hand vessels in both the Dry and Wet sectors; 10, 000 TEU vessels too!