The World is on fire and uncertainty the name of the gameBreaking News, Canals, Politics and Government, Ports & Terminals, WISTA - Women in Shipping — By admin on February 28, 2014 at 11:59 PM
The Allaboutshipping.co.uk’s eighth overview of the Shipping Markets and the World’s various situations for 2014 with John Faraclas:
The BDI still down 969 points from the 2, 227 – the last closing of 2013, which is nearly 43, 5 centum down; the percentage speaks of itself in exactly two months of the real state of the markets!
The BDI closed earlier on this afternoon at 1, 258 points, up only 8 points since yesterday and 83 from last week’s 1, 175 points. During the week we have seen fluctuations to even the + – 1 point.
The Capes “did” it again and they closed at 2, 084 points, going well over the 2, 000 barrier, that’s 35 plus from yesterday and 383 sine last week.
The Panamaxes, the most representative size of the market were even further down at 1, 099 points, down 24 since yesterday and 145 since last week’s 1, 244 point mark; caution. Now with the Panama Canal delayed until sometime in 2016, lets call it mid 2016, you know what further can happen. That also applies for the new Post Panama Canal sizes.
The BSI was only up 3 points at 1103 and just 5 points up since last week, the BHSI closed at 669, minus 4 points since yesterday and minus 8 points since last week. Difficult times ahead.
On the wet side the BDTI was 4 points down at 737 and minus 33 since last week. The Cleans and their respective BCTI were 2 points up at 630 and 35 plus since last week.
A Panama Canal deal to end the uncertainty looks likely and there are a few details left over… Caution, both sides must come to their senses. Some people in the market said it might be a conspiracy; we shall see – I never ever liked this situation and I have expressed my views and worries.
Ukraine as predicted slides to uncertainty; we have warned you on this well ahead from all; even in writing.
Venezuela must also come to terms as there can be a bad flash point.
The US debts are worrying. That’s too much. The Americans are paying too must over the last twenty years in order to protect their interest within US and abroad – their strategic ones; don’t forget they said it: “It’s the Economy Stupid”. Having said that, who isn’t in real debt/mess today. Too many freedoms, too much “socialism” – like in Greece and wrong administrations worldwide rocked the markets and the world’s economy.
On better note and tone, WISTA-UK had an excellent event last Wednesday and the 40 years of celebrations, since launching same, started.
In Greece and Cyprus the obstacles are grave, particularly with privatisation and reforms. Big issues at stake.
Italy has a new Government, and well, let’s see what the under-forty Matteo Renzi can produce with his new coalition government replacing Letta.
Piracy is another worry, few can understand what’s happening and what will happen further after this morning’s attack.
China, another worry in its region with EEZ disputes.
Have a nice weekend and watch the video below: