Dry Markets bottom out once again… The wets follow suit too…

Markets, News — By on December 5, 2014 at 10:40 PM
John Faraclas

John Faraclas

Our forty-seventh weekly recapitulation of the markets and world geopolitics affecting same, tonight Friday the 5th of December 2014 with John Faraclas of AllAboutShipping in London, simply confirms verbatim this medium’s prediction all along!

We thank all those who have contacted us appreciating our prediction, which despite being odd, finally was the winner! Verba volant, scripta manent, as always!

  • The BDI closed earlier this afternoon down 37 points since yesterday Thursday the 4th of December at 982 points, that’s a 171 points drop since last week’s 1, 153 points, coincidentally the same drop alike last week! This is also a 1, 265 points drop since last December’s 2, 247 points or 56.53% for those wanting to see accuracy in percentages… This is a serious development as the index falls below the 1, 000 point mark….
  • The BCI closed down 170 points since yesterday at 1, 282 points and 869 points down since last week’s 2, 151 points. No further comments…
  • The BPI was also down just nine points at 1, 088 which is 32  points from last week’s 1, 120 points…a more modest drop in comparison with the capers…
  • The BSI was down nine points at 971 which is also down 15 points since last weeks 986 points.
  • The BHSI was up one point since yesterday at 499 and eight points plus since last weeks 491 points, which is also a 29 points plus since last week’s 462 points.
  • The wets too where on a downward trend; The dirties and its respective index,  the BDTI was down eight points at 818 points  which is 75 points down since last week’s 893 points..
  • The cleans with their respective BCTI down five points at 777 points which is 35 points down since last weeks 812 points!

The price of oil continues to drop and the region US$ 65 is a fact. A point to watch !

On the World stage now:

  • The Ebola saga, Ukraine with its future still uncertain, the Middle East with ISIS still undefeated (we need to see them finished off as soon as possible), Libya continuing as a lawless state, Europe with its economic mess and Greece close to the brink of…, Africa with its own problems and other regions continue to influence the markets. China is not …producing as expected and India is also on focus…The world’s worse economic situation is what will bother us and conversely the markets for the foreseeable future!

The American Club’s CEO Joe Hughes delivered earlier this afternoon an excellent slides presentation on the Club’s progress at the 500 years old Trinity House which was followed by an excellent net working pre-Christmas reception!

The Lloyd’s List Greek Shipping Awards in Athens a couple of hours ago, where the great and famous participated in full force, was a great success and the Shipping Fraternity make its presence felt once again!

For those traditionalists around  globe,  tomorrow is St. Nicholas’s Day,  the seafaring saint’s anniversary for the protector of all involved in the shipping saga!

The twenty-fourth tip for your extended… summer holidays, and thanks to climate change, is the City of  Edinburgh, the Athens of the north!  Yes a nice break for all during the festive season for the alternative!

Enjoy the weekend. You can log on here below to watch the live video:

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