The BDI (Baltic Dry Index) closed earlier on today at 939 points leaving a happy note for the weekend; Geopolitics though continue to get sour. John Faraclas weekly recap:
The BDI gained 35 points today and 64 since last week (875), bringing some air of euphoria, but we still insist caution. Caution as unless we see the 2,200 points, nothing much has been achieved; this is the harsh reality!
The volatile Capers saw the BCI 2014 at 1, 227 – up 130 points and 62 points plus since last Friday’s 1,165 points.
The Panamaxes’ BPI clinched a good plus of 34 points – always a modest plus, and at 1,118 keeps the market’s pulse alive and kicking; it is more or less the most steady size both on the upturn and …downturn – read and study the statistics… On a weekly basis, 171 points plus prove our preference isn’t wrong from last week’s 947. Going over and above the 1,000 points is a good sign.
The Supras’ BSI gained six points since yesterday, now reading 846 and 37 since last week’s 809, and the Handies were also up; five points since yesterday at 462 and 34 since last week’s 428!
Now all in all, a plus, an upwards leaning Dry Market, but still needs these extra 1,300 to 1,400 points to go close to 2,300 and make sense. That doesn’t mean though that the crisis is over… The crisis begins now…
The Wets on a different modus; the last published BDTI (Dirties) and BCTI (Cleans) stood at 837 – plus six, and 603 – plus two respectively. On a weekly basis though there was a loss of 19 and 11 points respectively from the 856 and 614 level-points.
The price of WTI stood at US$ 53.05 – will know later the final closing; on a weekly basis it was down nearly a dollar from US$ 54.02 of last Friday’s… that’s good news!
As the title of this recap implies, too messy Geopolitics and Peace is at stake.
Too many warring issues and tensions in all fronts; more on Geopolitics later on…
Have a nice weekend and be on guard for every eventuality…