The BDI …“hits” back @596…

Comment, Insight, Markets, Oil Industry, Oil Platforms and Rigs, Shipping Indices, Stock Markets — By on June 23, 2016 at 10:43 PM
John N. Faraclas

John N. Faraclas

With the world stuck in front of TV sets awaiting for the important UK Referendum’s  outcome  – whose result will re-shape Planet Ocean’s Economy, the BDI entertains us all today with its plus splash; John Faraclas daily market commentary:

With a double plus figure the BDI close earlier today at 596 points – plus 11 since yesterday, thanks to all the dry …and wet indices!

The Capers and the respective BCI 2014 close 19 points up at 897!

The Panamaxes’ BPI  was also another double plus figure (13), standing at 569 points!

The Supras and Handies’ BSI and BHSI plus seven and four points respectively at 577 and 322…

The Wets too on a plus modus; the last published BDTI and BCTI ended at 710 (plus five) and 437 (plus four) respectively!

The WTI trying to maintain its US$ 50 mark… trying!

The Economist Conference in Athens ended; a great chance for many to listen to people NOT talking straight! Time will tell as this was a great rehearsal by Greek and European MP’s and many others.

The BREXIT vs. BREMAIN result will be known in the early hours of tomorrow; just hold your breath. Either way it will be music to the losers’ ears, with the most appropriate song being that of the Beatles “Don’t let me down”!

The Migrants continue to be the number one issue worldwide, this time it was Oppppppppppppps for president Obama…

Agony in Egypt and elsewhere as the EgyptAir recorders head to Paris…

In Libya the situ gets messy despite some gains for the government back forces against ISIS… For this wider Middle East, Med, Black Sea region and its periphery conflict will address some issues tomorrow together with a full scale Geopolitical recap!

At the other side of the world, the masters of the seven seas, politicians and others await the opening of the new expanded Panama Canal which will significantly change trade and conversely shipping… doubt it though if under the circumstances will improve freight rates – I mean seeing the BDI close to 4, 000 (four thousand points)…

We repeat our position that this is the best ever ‘ market particularly for newbuildings of any kind, amid a world economic recession…

Have a nice evening…

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