Midweek market blues continue with the BDI at 666 and 632…

Breaking News, Chartering, Containers, Dry Bulkcarriers, Fixtures, Markets, Oil Industry, Ship Finance, Shipping Indices — By on January 29, 2015 at 11:47 PM
John Faraclas

John Faraclas

Indeed you read correct; the Baltic Dry Index continues its downwards course hitting a new record low at 632 – the last one being at 647.

With the BDI yesterday at 666 points, knocking on sensitive “areas” –  as we all know the significance of this number, a subject of more comment and speculation than any other number which the ancient greeks firstly introduced as χξς’ or 600, 60, 6. So as things go wrong in the market, remember also that what best expresses this number is the Wrath of God, (οργή θεου in Greek), so here we have indeed the …Wrath of Posidon, given the sea-element …dictating the markets. As the market dropped further to 632 points, things might get sour as we have long predicted.

For the record, the indices closed earlier today with the BCI at 725, BPI 550 (breaking the 600 point barrier), BSI at 599 – another index falling below the 600 points barrier), BHSI at 348 and the wets also in a falling modus with the BDTI at 870 and  the BCTI at 679 points.

Given the changing landscape of shipfinance and the ever detrimental geopolitical issues, be prepared to hear the music…

Caution is a very modest word to use as the going gets tough amids the world’s worst  turmoil in all fronts which we guarantee you it will worsen! Do please read our past reports and market position and see what you can do to save your company…

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