The BDI (Baltic Dry Index) lost six points earlier on today standing at 618 – 19 points before possibly going under the 600 threshold sending alarms to all stakeholders except the very few well -placed and capable ones who will for sure weather the tsunami…; John Faraclas’ daily briefing:
- The Capers lost 22 points and the respective BCI 2014 now stands at 848 points.
- The Panamaxes too lost three points – not a big damage, now clocking 608, very close to the 600 point mark… Alarm Alarm Alarm!
- The Supras…gained three points, …hurray and its respective index, the BSI now stands at 568.
- The Handies’ BHSI gained one point! It now reads 345!
Be on guard as the dry market will cause more upheavals!
- The Wets once again produced mixed …feelings after the Dirties lost 13 points, bringing the BDTI down to 731 points, but the …upcoming Cleans did better gaining seven points, now standing at 487!
- The WTI struggles just below the US$ 48 and that’s still an on-going saga… Midnight approaches… expect sae to go higher…
Addressing some fundamentals now:
- The issue of proportionality should govern …proportionally the entire shipping industry:
- Scrapping should accelerate and the banks should learn to lose as the values have dropped considerably, but this is the harsh reality. A proportional Scrapand Built scheme should come into place – we missed the chance back in 1978, remember…eh! Scrapping should be in the tune of at least 25 centum of the entire ocean going dry and wet shipping fleet, containerships included.
- Talking above about values, values today should determine the situ in the stock markets, the financial obligations and yet, once more: banks and stock markets should be prepared to lose!
- Shipyards should merge and also be fully certified with an equivalent of a respective ISM and ISPS codes, a SHIPYARDISM so to speak. We cannot go on like this, particularly in China!
- Subsidies should end under the “proviso” of some European Nations to support under the cover of Liner Shipping, exportism and all that jazz the public shipping companies, which despite this despicable cover-up and with the support of local governments they rocked the boat…
- Crewing too is another factor. Next time round we will add some more fundamentals, based on technology, the environment, maritime education and training as well as maritime politics. Scarcity of human recourses is the biggest problem facing shipping and we must turn youngesters to become seafarers, particularly in Greece…
- The above is self-explanatory how they affect shipping!
- The Geopolitics continue to produce a more than messy situ. Imagine when Turkey breaks down – just a hint!
Have a nice evening and be on guard for what is yet to come. Every single moment sends shivering messages to the entire human race. We live in interesting times!