The BDI (Baltic Dry Index) ended the day at 1,147 points – down seven since yesterday and 58 since last week’s closing of 1,201 points! Geopolitics in the coming hours, days and months might cause irreversible situations to the detriment of all, all over Planet Ocean. John Faraclas’ daily and weekly recap:
The Capes accounted heavy losses particularly on a weekly basis. The BCI lost today 35 points and now stands at 1,203; on a weekly basis the loss reached 276 points!! More than caution!
The Panamaxes lost just a point in today’s trading with the BPI reading 1,618 points; surprisingly though on a weekly basis our most favourite size gained three points – from 1,615.-
The Supras and the Handies had a good day and week; the BSI today was up 14 points reaching 1,091 points – on a weekly 59 points were very well received… The BHSI gained a point, now reading 627 points and 16 plus since last week’s 611 points. That’s good news but expected when Capers and Panamaxes fall…
The Wets still on a downfall mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 631 – minus two and 564 – plus one point respectively. On a weekly basis both wet indices fell; the Dirties down 20 – from 651 and the Cleans 21 – from 585 respectively…
Caution for both Dry and Wet indices as despite the optimistic views before the Chinese New Year, both are down. Remind you that the BDI is today 1,104 points below the end of December 2013 closing of 2,247! The Wets haven’t been so low, particularly below the 1,000 point mark… Ultra caution!
The Container trade continues to be down and if same continues expect the unexpected.-
The WTI as these lines ae being written stands at US$ 62.34; a dangerous figure. Last week it stood at US$ 62.04…
The Markets due to the credit crunch and plastic money’s colossal debts will remain low. Avoiding a social upturn and opening the tubs to all, created this mess… Sorry but this is the truth.-
The Geopolitical situation under these economic parameters and the wars looming in the background will remain unchanged and even a major conflagration is on the cards!
On another note WISTA-Hellas has its annual dinner and dance in Athens’s Athenaeum InterContinental hotel! Will revert with a full write-up!
Have a nice weekend and be on guard from any eventuality emanating from Pirates and Terrorists looming in the background wherever you are on Planet Ocean!