Home » The BDI@724; it’s not the end of the world yet!

The BDI@724; it’s not the end of the world yet!

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John Faraclas

John Faraclas

Dry and Wet Markets tumble once again. Ignore the BCI and the, as ever, volatile Capers and see the reality in correlation with turbulent geopolitics; John Faraclas’ daily recap:

The BDI (Baltic Dry Index) “gained” just four points “thanks to the Capers which ended the day with a 25 points plus since last Friday the 2nd of September and now read 1,079 points! Hold your breath though as same was 50 centum less of last Friday’s rise – remember the 52 plus points…eh? Yes up but not that strong upwards many expected. CAUTION!

The Panamaxes down four points with the BPI standing at 640, another caution!

The Supras’ BSI also down – three points now reading 718 points.

The BHSI, the modest survivors Handies were also down three points standing at 429.

All in all a falling dry market and this deteriorates the scenery and market prospects. You have to be pragmatic and see the big gap between today and Dec 2013 closing (just above the 2,000 point mark).

The box trade builds its own fate.

Hanjin’s saga, an expected one on all counts – like many more looming in the background and for which we have long ago warned on canvas, brings forward the question for those complaining: “Where was the risk assessment?”  and “What sort of undertaking were there – not silly guarantees were in place safeguarding owners and others? Now as there were also many ships on charter again don’t blame Hanjin, blame yourself who failed to ensure all is fine on a rainy day. The rest is petty excuses… Grow up. We need though to see all those who were involved in yet another scam pay the damage – you dead well know what I mean!

The Wets too, with mixed feelings– the Dirties’ BDTI was just two points up at 516 and the Cleans’ BCTI just four down at 437 respectively. Another big caution…

The price of oil based on Geopolitical fluctuations as you read these lines is up, above the US$ 45 mark… interestingly!

The Geopolitics are going even worse today on all fronts:

MIGRANTS, G20, Syria, and The BREXIT issue, the Greek Saga, Mrs. Merkel’s losses, you name it, including the Philippines president verbal abuse against Barack Obama.

Stay tuned for the full update latter on!

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