The BDI@639; recovery, rebound or reboot? Obviously NOT a correction…
The BDI (Baltic Dry Index) ended up earlier on today with 11 points plus and 38 points also plus(!) since last week’s 601 (08 Feb. 2019). Geopolitics are now on the edge more than your imagination can think of… John Faraclas’ daily and weekly brief recaps:
The Capes’ BCI “still” falling despite a bit of an up yesterday – another mini volatility(?) so to speak. It closed at 727 – down two points since yesterday and minus 65 since last week’s 792 points… Caution, vigilance or what one can do given also the odd circumstances – with Vale for example… But there are other regions too one can use, eh!
The Panamaxes “found” a breakthrough with the BPI at 624 – plus five points; on a weekly basis same was up 50 points – from 574!
Good Lord, the Supras advancing! The BSI was up 34 points to reach 560 and on a weekly basis 155 (from 415)– a good triple-digit uplift!
Improved levels for the Handies’ BHSI now at 315 – plus four points and a hopeful 25 points since last week’s 290…
The Wets with ups and downs; the last published BDTI (Dirties) and BCTI (Cleans) stood at 806 – plus eight and 613 – minus five respectively. On a weekly basis the BDTI was up nine (from 797) and the BCTI was down 116 (from 629).
We are still far apart the level as of the end of December 2013 when the BDI stood at 2,247. The gap is now 1,608 points! Need also to see the Wets over and above the 1,000 points. The rest is brokers, analysts and lenders – including stock markets talk to say in a polite way. Reality bites!
The WTI ended up at US$55.59; that was US$ 2.87 higher from last week’s US$ 52.87 – a dangerous rise! ULTRA CAUTION should be observed! Remember, Planet Ocean’s debt is US$ 250 trillion and any plus Dollar on the price of WTI or Brent creates even worse scenarios for unwanted situations to come.
On the environmental and emissions, pollution saga we are experiencing an unserious behaviour from those who tied to impose a “regulation” similar to a Damocles Sword but same is turning to a boomerang. What a palaver, eh!!! Remember: if you don’t do it excellent, don’t do it at all. Becoming a ridicule in shipping is a suicide. Did I hear you say calling wolf? Even this doesn’t apply here!
Geopolitics, for which we will revert as soon as a technical issue is rectified, are in a total mess. You need to be financially ultra sound to sail in turbulent waters.
Until we revert have a nice evening and weekend – remember to go if you are around in London at the London Cruise Show at Olympia. Remain on guard from actions emanating by Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean!