Weak start for the BDI… in June’s mst critical moment!
No change for the BDI – it remained at 612 points creating further uncertainty in the shipping markets with incalculable consequences and a lot to discuss on collateral damage; John Faraclas daily Market briefing:
The Capers and the respective BCI 2014 couldn’t give any push upwards despite the seven points plus earlier on today and now reads 861.
The Panamaxes continued their fall and the BPI lost six points now standing at 568.
Downwards move of the Supras and the BSI lost two points since yesterday clocking a modest 578 points.
The Handies had…their day with plus four points reaching 355!
So all in all: NO strength at all for the dry markets. High and Dry!!!
The Wets though once again proved different with the Dirties continuing a bit of a plus modus gaining 18 points (BCTI@753)! The Cleans though experienced another fall, four points minus (BCTI@496).
The price of WTI struggles to maintain a figure close to US$ 50; tough task though!
The Geopolitical front as we have numerous times mentioned in writing continues a reverse order and caution must be the name of the game. Indeed we believe that developments are ante portas. We have warned you many times!
We eagerly await the Posidonia 2016 debates next week, that of Capital Link, Mare Forum and Tradewinds; we will be pleased to challenge the hoi polloi there and everywhere!
Have a nice evening!