The BDI (Baltic Dry Index) closed earlier on today at 611 – just one point plus, extending uncertainty; John Faraclas’ daily recap:
The Capers, as ever volatile, gained another 22 points ending the day with the BCI 2014 at 995 points. Once again we stress the fact that one sizes’ plus points doesn’t constitute a market!
The Panamaxes BPI gained three points after a long time of diving, bringing the BPI at 543 points!
The Supras down four with the BSI reading 560 points and the BHSI was down six now standing at 332 points.
So all in all back to square one… The question now is: what will happen if the BDI remains below the 1, 000 for the foreseeable future?
The Wets now; the last published BDTI and BCTI were up two and down eight at 741 and 479 respectively.
The WTI stood just above the US$ 50.5 mark and here too uncertainty remains.
On the Geopolitical front, the Migrants issue continues; more drowned as well as rescued heading mainly to Italy… Over the last 48 hours nearly 3, 000 people were rescued and it remains to be seen what’s next! The number of Migrants in Greece has risen; who’s responsible for this?
Obama endorses Hillary Clinton; unless something spectacular happens, she’ the clear and undisputable winner! Donald Trump eat your heart out!
An Ethiopian base was attacked in Somali by Islamist militants; not nice so once again caution!
Japan, which administers the uninhabited Senkaku islands, which China also claims under the name Diaoyu islands, has lodged a protest in Beijing! At all costs, this confrontation must be avoided….
BREXIT continues to be the worlds and Europe’s worry, equally GREXIT is still on the cards, unless…
Despite all the above and other issues mentioned over the last year or so, this is the best time to order new ships, exceptionally three year old ones or resales and or abandon ones or slipping… Overall a buyers’ market, but be cautious on geopolitics…
Posidonia 2016 continues to be the event on all counts with more visitors today! Good to see more and more students and cadets from amritime academies visiting the exhibition; a good sign!
The early morning seminar “Trading in U.S. Waters / Ensuring a Culture of Environmental Compliance” organized under the auspices of the US Embassy, AMCHA, NAMEPA and in co-operation of the Propeller Club of Piraeus, a great event!
The receptions continued too; a great night at the Ithaki Restaurant were over 1, 500 guests attended The Panama reception! The Ambassadress Mrs. Christina de Papadikis was more than pleased with the overwhelming support and turnout!
Mega shipbrokers Allied had theirs at the Coach with the faithfull and staunch supporters en mass…
The Marshall Islands too at the Ble and Aegean at Balux prive receptions and parties bring the celebrations to an end!