Approaching summer indeed has its blues particularly as it happens with the shipping markets; John Faraclas’ daily briefing…:
With minus four points the Baltic Dry Index (BDI) stood at 601 points earlier on this afternoon and the situation might become as close to the all times record low of 290 points… with incalculable repercurssions for humanity too, given the worse ever approaching global recession. In my humble view, all figures have been manipulated! We are entering one of the worst ever times in shipping history and the hoi polloi are now in real trouble: shipowners, shipmanagers, shipyards you name it…
The Capers had a contained fall of just six points and the respective index, the BCI 2014 clocked 793 points!
The Panamaxes lost ten and now the respective BPI stand at 586 points.
Handies and Supras were up four and one point respectively – BSI 575 and BHSI 347; c a u t i o n!
So all in all a falling dry market, but only as said for the very very few! We have warned you.
The Wets exceptionally were on the plus side; the last published BDTI and BCTI gained seven and six points respectively – BDTI 723 and BCTI 501!
The price of WTI stood close to the one we were betting! Not bad to read US$ 49…
The Geopolitics: couldn’t be worse. Be on guard as too many issues will soon bother us! Have a nice evening!