The Shipping Markets still in turmoil and the World is on fire….Breaking News, Chartering, Dry Bulkcarriers, Markets, Oil Industry, Piracy and Terrorism, Sales and Purchases, Shipping Indices, Stock Markets — By admin on February 21, 2014 at 9:15 PM
The shipping markets continue in turmoil and the BDI still down 1, 052 points – nearly 48 centum in nearly two months…
The Allaboutshipping.co.uk’s seventh overview of the Shipping Markets and the World’s various sitautions for 2014 with John Faraclas
The BDI closed earlier on at 1, 175 points up 11 from yesterday and up 69 from last week’s 1, 106 points; during the week was just a few points up, sometimes even 1 and, successfully resists to fall below the 1, 000 points mark…
The Capes who are the driving and sometimes the non driving force of the index with their respective BCI index, were up 21 points to 1, 701 and overall 147 up since last week. The main issue, which personally bothers me, is that of the Panamaxes, as I consider same the pulse of the industry, The BPI closed at 1244 points, down 7 from yesterday but 67 down from last week’s 1, 311 points. Now the BSI and the BHSI where at 1, 098 and 677 points respectively, up 11 and 1 since yesterday and 100 plus and 6 from last week.
The wets continue their down fall, I don’t believe there is a curse due to the worst historically wet weather over here, but the reality is that the BDTI went down to 770 – 2 since yesterday and – 48 from last week and the BCTI was the same from yesterday’s closure and -1 since last weeks at 595.
The above and other issues such as the Ukrainian saga, the developments in Venezuela, the Royal Bank of Scotland’s successful shipping division, the two deaths on board the Maersk Alabama, the London Shipping Law Centre’s 20th Anniversary and other points/events can be heard live in the video herebelow; enjoy the weekend: