More losses today with Panamaxes paying the price; expect incalculable repercurssions from Turkey’s actions against Kurdish factions in Syria; John Faraclas’ daily recap:
With minus four points the BDI at 711 has lost steam and the situation even typically becomes more perplexed. Commodities cannot get off the ground and no credit is available in a sense to kick start the post Xmas 2016 major contracts… The world economy enters the worse part of yet another recession; tough!
The Capers’ BCI 2014 lost eight points now standing at 978 and the Panamaxes’ BPI lost 14 points, down at 660 points and caution is the simplest word to say…
Even the Supras where losing ground with the BSI gaining just two points now reading 721.
Finally the Handies’ BHSI remained the same at 432 points.
No need for further comments as this market, if it doesn’t take off by say beginning to mid-October will create colossal losses to all. Banks and other lenders will have to jump into oblivion…
The Wets too on a falling modus; the last published BDTI (Dirties) and BCTI (Cleans) stood at 510 – minus five and 445 – minus two points respectively.
The WTI at US$ 45,44 lost a dollar and a half during the mid-day trading; another mess here…
The Geopolitical front following the Turkish unethical and unprecedented invasion in Syria – something the Turks where longing ever since the proxy war for the control of the western part of the Middle East begun in Syria, will engulf the entire region and beyond.
BREXIT takes off soon and PM Mrs. May will pursue same to all intents and purposes for the best interest of the British people. One can exercise constructive criticism but to his / hers own court – leave Britain alone. The advantage of 1,6 billion people of the Commonwealth is what Brussels and Germany never got right!
The Greek people are braced for a more messy Autumn than they have imagined; GREXIT is still on the cards, but as said and continue to mention, GREXIT is not a panacea; it will be the best solution for all and Greece will save face. It is the moron politicians who don’t know where is the fore and aft of the ship… For sure the way they proceed will rock the boat!
The MIGRANTS issue go beyond reality and it will become ten-fold worse soon!
Mrs. Merkel MUST resign!
The Clinton – Trump final campaign …ambush for the White House continues. Can she make a good president? Is he fit to run this last part seeking the crown? Time will tell.
Brazilian President Dilma Rousseff lost 60 to 20 so let’s see the morning after there… If she’s on the right side, she has to open the Pandora’s Box of Revelations…
The Nigerian economy contracted 2 (two) centum plus! The recession there will bite! With the price of Oil at US$ 45 versus US$ 112 in 2014 you dead well know what will happen there given that 70 centum of its revenue comes from oil… Caution!
There will be an update later on; until then enjoy the rest of the evening and be prepared for the inevitable in all fronts. Remember: every 500 years (plus/minus fifty) all change on Planet Ocean…