The BDI (Baltic Dry Index) fell substantially earlier on this afternoon at 1,243 points – minus 35… The geopolitics might cause, as said yesterday, tsunamis with incalculable repercurssions. John Faraclas’ daily briefing:
The Capers suffered another major loss – 139 points less since yesterday and the BCI 2014 now reads 1,991 points…
The Panamaxes too lost ground and the BPI now reads 1,553 points – minus 59 points… CAUTION,
The Supras lost just one point and the BSI now stands at 899 points.
The Handies gained four points with the BHSI reading 572 – plus four.
So, all in all a falling dry market; take care and be extra vigilant…
The current market levels encourage owners to go ahead with new acquisitions… Diana Shipping proceeds in strengthening its position given the favourable market conditions. We have long time now taken the position that this is the best ever buyers’ market subject you have funds available!
On the liner trade we had an interesting report from VesselsValue; let’s see your comments.
The Wets on a plus mode; the last published BDTI (Dirties) and BCTI (Cleans) both gained five points and now read 819 and 643 respectively…
The price of WTI remained at just above the US$ 50 mark; let’s see the after-shocks of this week’s falling.
The Geopolitics remain the same in all fronts and I guess we need extra nerves to tackle some major issues; MIGRANTS, Wars in Syria, BREXIT and the 8th of June snap election, Election fever in Europe – France and Germany in particular, the Greek saga, The Italian financial ticking bomb, the post Referendum Turkey and many other issues might lead to a very messy global scene. Add the Pacific mess with North Korea over the nukes, China’s thinking on world affairs and trade and see what you get!
Another terrorist attack in Paris earlier on tonight where one policeman was shot dead and two more were wounded. Hope things don’t get worse.
Have a nice evening and be on guard for every eventuality.