The BDI (Baltic Dry Index) “thanks” to the Capes remained “afloat”. At 1,385 points remains in good levels taking on to account what is going on lately and in particular the last three years, as well as the Geopolitical aspects. The 56 plus points today promises a good weekend… On a weekly basis the BDI gained 44 points – up from 1,341 from last Friday 22 June… John Faraclas daily and weekly recap:
Now, we might applaud this “good fortune” but one size as we numerous times have stressed doesn’t constitute a market.
The Capes’ BCI gained earlier on today 145 points and now stands at 2,170… On a weekly basis same was up 159 points – from 2,011!
The Panamaxes’ BPI gained five points and now reads 1,336 – on a weekly basis though same was down 19 – from 1,355, tough!
The Supras lost 13 points with the BSI now reading 1,042; on a weekly basis the fall was considerable: minus 50 points – from 1,092!
The Handies’ BHSI down just two points and now reads 581; on a weekly basis same was down 12 points – from 593 points….
So all in all a weak Dry Market with the exceptions of Capes. We observe CAUTION!
The Wets were on all counts and periods of time down; the last published BDTI (Dirties) and BCTI (Cleans) stood at 724 and 493 – down three points respectively. On a weekly basis the Dirties lost 18 points – from 742 and the Cleans 14 – from 507…
The WTI stood at US$ 74.25 – a very dangerous level and the super powers behind all these unpresented rises must convene otherwise you better say good bye to Jane… err to the World Economy… AND Welcome to Hell = War! Last week the WTI stood at U$ 69.50 and the week before at US$ 64.90. This is plus US$ 10 in a fortnight!!! Any excuses? It can backlash!
The Trade Wars which begun last month will twist and turn the Markets upside down…
The Geopolitics continue to deteriorate and might soon produce tsunamis as we have recently mentioned.
The Politicians cannot see beyond the end of their nose! The MIGRANTS for example being the most crucial issue from all put together took until 05:50 BST with the EU’s 28 to find a point of agreement and it remains to be seen if same can be performed. What took them so long to have such a comprehensive meeting? Why they haven’t done this five years ago? Who is subjecting them into an under duress position? I am pretty sure that despite this agreement NOTHING real will happen. Time will tell. AND as you read these lines, each country party to the agreement now interprets same differently… What a mess! What a palaver! SHAME!
The new flare up in Syria and in Iraq creates more MIGRANTS, yet another continuous SHAME!
The 30th Seatrade Awards are under way at The Landmark in London’s Marylebone and will revert with the winners in a separate post when we have the results and the winners!
More news later on; until then be on guard for any eventuality emanating from Pirates, Terrorists and Criminals of any kind looming in the background wherever you are on Planet Ocean!.