John N. Faraclas
The BDI (Baltic Dry Index) fell 63 points earlier on today thanks to the as ever volatile Capers and to a lesser extent the enigmatic Panamaxes; both Wets fell too. Geopolitics still enigmatic and perplexed. John Faraclas’ daily market briefing:
The Capers triple-digit fall was more than double since yesterday; 293 points were wiped-off… with the BCI reading 2,384… CAUTION!
The Panamaxes’ BPI lost 33 points and now reads 1,371…
The Supras managed as expected to go over and above the 900 point mark now standing at 902 – four points up!
The BHSI Handies lost two points and now stands at 587…
As mentioned above, we are witnessing losses for both Wets; the last published BDTI (Dirties) and BCTI (Cleans) stood at 685 – minus six and 616 – minus 12 respectively. What will happen if both indices go below the 600 point mark?
The WTI was trading at US$ 63.50 and might go a bit higher. I guess we are getting into a crash…
We are closely monitor the Geopolitical developments as things continue to be sour and might affect trade. Expect surprises!
Have a nice evening and be on guard for any eventuality emanating from Pirates and Terrorists wherever you are on Planet Ocean…
