The BDI surpasses the 700 point mark with fourteen points plus thanks to the Capers; geopolitics continue to be messy. John Faraclas market briefing:
At 706 points the BDI, the BPI and the BSI make …waves! What a coincidence!
The Capers, the Baltic’s most volatile index with 49 points plus since yesterday lifted the otherwise contradictory markets. At 910 looks good but…be careful!
The Panamaxes’ BPI was down eight points since yesterday at 706…
The Supras’ BSI also 706 gained four points and the Handies’ BHSI still making waves with a five plus now standing at 425 points!
Both Wets – the BDTI and BCTI where down one and six points respectively at 505 and 456 points. Touch times for the wet sector with owners in disarray!
Geopolitically the Middle East and its wider periphery gets more and more messy!
All shipping’s stakeholders must be prepared for the inevitable. A war, a wider war doesn’t necessarily means under the prevailing circumstances and parameters that freight rates will improve and change completely the markets. Religions can play a crucial role in this war!
This morning’s devastating earthquake in Italy can teach a lot of lessons for the effects of other earthquakes on the shipping business front.
Have a nice evening and mind the heat – today on average Europe recorded a 35C… One of the hottest ever days in the mighty continent..