Home MarketsChartering Dry Market stagnation continues and Wets rise …to the circumstances

Dry Market stagnation continues and Wets rise …to the circumstances

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John Faraclas

The BDI (Baltic Dry Index) gained just four points earlier on and now reads 1,187 points! Wets get better all the time and Geopolitics are a tinder box ready to go off with incalculable repercussions for all; John Faraclas’ daily report:

The Capers lost 21 points since last Friday the 1st of September 2017  and the BCI now reads 2,243 points…

The Panamaxes were up 29 points to …save the day and the BPI now stands at 1,227 points…

The Supras were up four points with the BSI about to surpass the 860 points…

The Handies’ BHSI was up one and continues to be steady upwards trying to go over and above the 500 point mark…

So, stagnation at its best in the Dry Markets which continue to be 1,000 point below the December 2013 level of 2,270 points, the level we all need to have in our screens ensuring a safer dry market….

The Wets on the rise! The last published BDTI (Dirties) and BCTI (Cleans)  stood at 682 – plus five and 737 – plus 34 respectively!!!!

The WTI stood at US$ 47.38 – was down at US$ 47,15… An interesting level supporting the poor masses!

The Box trade remains low for us and we cannot see a sign denoting rise projecting a better and sustainable market; caution.

Overall a “low” day in all fronts given that the USA was closed due to Labour Day!

The geopolitics are in a critical state following another weekend of mess with North Korea!

All other Geopolitical issues remain the same- Migrants, Wars in Syria and Iraq, Greece, Turkey, BREXIT and other issues.

Be on guard for any eventuality that might happen from actions by Pirates and Terrorists!


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