Home Markets Dry Market gains, but wets loses ground

Dry Market gains, but wets loses ground

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John Faraclas

John Faraclas


 A few …“rich” peakings… as the BDI gains five points and the wets dive; geopolitics too. John Faraclas daily market briefing:

  • The BDI closed up five points – now reading 585 thanks to all dry indices’ plus points!
  • The BCI 2014 was five points plus at 878; the BPI up eight at 556 points; the Supras and Handies up seven and three points respectively, now standing at 570 and 318 points.
  • The Wets now with the last published BDTI and BCTI losing six and five points respectively, now standing at 705 and 433…

The price of WTI as we write these lines stands just above the US$ 50 mark! Caution!

The Geopolitics are dominated by the Migrants issue and the Brexit – Bremain saga*. All other issue remain more or less the same. We shall see tomorrow evening the effect of the British Referendum!

The Economist’s 20th Roundtable with the Government of Greece Conference begun this morning and continues until late tomorrow afternoon. A very timely event given what is going on as you read these lines. Europe:  shaken and stirred? Greece: A skilful acrobat?  We shall see… We had people on…the ground at Lagonissi Grand Resort and have been continuously briefed as due to a minor hiccup we abstained…

* Whatever the result, many things will change!

N.B.: Once again we believe this is the best ever market to acquire new tonnage, preferably newbuildings! Equally we believe that very few owners will make it as the low rates are here to stay, the debts are high and shipfinancing or re-financing is very difficult! Needless to say the World’s worst ever Economic Crisis is here to stay…


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