With ten points plus the BDI (Baltic Dry Index) reached 681 points; Geopolitics though bring bad news world-wide. John Faraclas’ daily market report:
- The Capers’ BCI 2014 continued to rise by 29 points reaching 920!
- The Panamaxe’s BPI gained ten points and now reads 713.
- The Supras’ BSI closed at 646 – up three; up three was also the BHSI reading 399 points.
- All in all a plus dry market but still far beyond the 2,000 points mark from December 2013!
- The Wets last published BDTI and BCTI stood at 496 (minus one) and 450 (also minus one) respectively.
- The price of WTI reached an all-four-month high at US$ 45.79 as these lines are written.
The Container-shipping remains in tatters and it remains to be seen how many companies and charterers will survive – don’t ask what might happen to owners – tramp ones in particular.
At the geopolitical front, the MIGRANTS issue continues to be the number one problem.
The Syrian saga continues with despicable effects for all and it remains to be seen what the US-Russia “coalition” will produce particularly in Allepo! Shame!
The traffickers continue to carry MIGRANTS from the Turkish Anatolian Coast to the Greek Islands destroying its economy! The authorities in post-coup Turkey continue as per custom and send them over to Greece and Bulgaria. Equally from Libya there are more attempts and more deaths. Cyprus was also targeted! Turkey threatens the entire EU on the MIGRANTS agreement using the demand for a free visa to its subjects as a counter measure; sheer blackmail, the Turkish way… The European Union must show zero tolerance to Ankara’s dirty politics and stop forthwith any further discussions with Turkey and its aspiration to become an EU member!
Russia accuses Ukraine for intrusions in Crimea; caution!
BREXIT might take more time to happen despite European Union members initial reaction!
GREXIT looks more likely now as the Greek people had enough!
The entire Middle East is in a mess so does the Far East! Caution for both regions as unexpected things might happen!
The Clinton Trump race to the White House produces many hiccups for both… Trump looks concerned for the MIGRANTS and proposes extreme vetting…
The Olympics in Rio continue with the USA leading the way in medals – reached 1,000 since the modern Olympics begun. The United Kingdom fights for the second place with China’s might athletes, but there is challenge for and from all others too – Russia, Germany, Italy and Japan too. A few hiccups in Rio but I guess things wouldn’t go overall wrong.
Too many wildfires in many spots around the Globe – arson, the weather, terrorists or what is the real cause.
An update might follow later on.