Home MarketsChartering What an odd Dry and Wet market-week that was…

John Faraclas

What an odd Dry and Wet market-week that was…

The BDI (Baltic Dry Index) ended one point down at  1,096 points; on a weekly basis though same was up 30 points – from 1,066 (24/5). Geopolitics already make life uncomfortable all over Planet Ocean; John Faraclas’ daily and weekly recap:

The Capes’ BCI remained as ever volatile and despite its continuous upturn, the last two days witnessed losses; minus three points and down to 1,620 but on the other hand on the weekly count the BCI was up 76 points (up from 1,545 on the 24/5)…

The Panamaxes lost three points and the BPI now stands at 1,355; on a weekly basis the gains were not bad as 51 points (from 1,304) is an encouragement!

The Supras’ BSI continued its losses; down four today bringing it to 752 and down 26 from last week’s 778… Strange but true…

The Handies’ BHSI did better than last week’s “drillings” with just one point pus earlier on today bringing it …up to 398 and plus five since the 24/5 when it stood at 393… Today the BHSI was the only plus index!

All in all an upwards Dry Market but still 1,151 points down since the end of December 2013 when the BDI stood at 2,247 points – it is five and a half years eh; reality bites!

The Wets once again with mixed feelings; on a daily basis the last published BDTI (Dirties) and BCTI (Cleans) stood at 643 – minus eight and 538 – minus three points respectively. On a weekly basis the Dirties lost 23 points (down from 666) and the Cleans gained 14 (up from 524) respectively.

The WTI was down to US$ 53.50 which is US$ 3.09 below yesterday’s closing and US$ 5,13 down since last week’s (24/5) closing of US$ 58,63… That’s good news for Planet Ocean’s poor masses, but also bad news as something strange might happen triggering other unwanted situations; C A U T I O N!

Coincidentally this recap brings us also to the end of the month and its worth to pause, recollect and re-guide our thinking on what’s next to expect as, with the increased mess with the as ever perplexed Geopolitics, everything is possible… Projections are too difficult and risk assessment a must! Remember: The world Debt is now US$ 250 (two-hundred and fifty) trillion and Shipping is being bullied with environmental and other regulations… an anathema so to speak as somebody is trying to end the private ownership of ships, create Shipping for the very very very few… So let’s see who can navigate in turbulent waters…!

The Migrants maintain the top position affecting both sides of the Atlantic. As the weather gets better in the entire Med more and more embark for the crossing over to Freedom but at the same time dozen lives are lost… Our position remains unchanged vis-à-vis “blocking” the MIGRANTS from Europe: A Naval Blockade, with a Mandate with Rules of Engagement. All other measures are at best silly and counter-productive as diplomacy has spectacularly failed and the European Union doesn’t want to a) upset Turkey and b) doesn’t want to get involved with the Northern Africa mess – particularly with Libya… In the meantime the social cohesion in the entire Europe, not just in the European Union, is about to break with incalculable repercussions for all! CAUTION!! At the other side of the Atlantic and in particular between the USA and Mexican borders things are not just getting off-hand; USA’s president  Donald Trump will even use sanctions, tariffs, you name it in ensuring the border is safe. The USA-Trump Wall too and the counter Mexican-ladder will soon figure around… What a palaver!!!!

The faulty line from Gib to Afghanistan and from the Caucuses to the Horn of Africa with the four dangerous regions: Catalonia, The Balkans, The East Med / Black Sea and the entire Middles East continues to create more mess. Let’s see in the civilised Spain how things progress with the Catalonian issue; in the Balkans the Kosovar leader Hashim Thaçi stirs up the situation for either a totally independent Kosovo or a union with Albania hinting also other areas to join in and threatening not just the Peace in North Macedonia but that of the entire Balkans… Encouraged by Russia and Turkey as well as acting on a proxy way for Albania itself– all three nations for their own reasons, Thaçi must come down to his senses and demands for joining the European Union under provocative actions and blackmail will fell to deaf ears in Brussels. Of course when the circumstances are right together with Albania and Serbia, Kosovo in any form would join the European Union. Somebody must tell him to see how Turkish aspirations are being halted due to the situation in Turkey for not conforming yet to the EU Rules!

Turkey’s bankruptcy and behaviour is an anathema for all in the region and both NATO and the European Union MUST intervene before the Fourth World War is on!

Turkey’s involvement in Syria is despicable; same applies with its behaviour towards Cyprus and Greece. CAUTION! Await the outcome of this unique catastrophe in modern history of a nation as the main enemy ISIS is being defeated but others continue to destroy whatever is been left over… Putin’s Russia having the upper hand there must make Peace or risk Peace elsewhere… Ensure also that ISIS is being not just defeated but totally humiliated and saw zero tolerance for those returning back home – mainly to Europe fighters, sympathizers et al, particularly women! We have questioned from the very beginning the stance of the European Nations allowing so many youngsters in particular without checking upon them of the destination… Let’s forget the values of intrusion into peoples personal lives when even cats and dogs knew where they have been heading to!!

Greece next door is in a different crisis and let’s see how the parliamentary elections on the 7th of July end up. The preamble of a possible SYRIZA (current government) fall was well demonstrated to all during the European Union elections as well for the local ones. The “lefty looney” of Greece spectacularly failed to capitulate on the 2015 win as within a year the SYRIZA party begun to disintegrate and now its fall might be spectacular… “Pity”! The announcement for the elections on the 7th of July proves the panic… end of the story. If the New Democracy forms a government on its own, its leaders must ensure proper management of Greece as despicable things might happen this time if they don’t govern appropriately.-

Many Greeks from the shipping fraternity stood both for the Local  (Municipal) as well as European elections but only a minimal portion managed to go through. In the European Elections next time round, we hope that George Xiradakis will comfortably enters the EU parliament; he deserves it and Greece too to have a knowledgeable MEP for Shipping which matters both for Greece as well as for the EU to all intents and purposes!

Italy already goes through a very difficult phase and let’s see how its leaders perform…

All in all the results of the EU elections were shocking for almost all parties and governments and a test for forthcoming parliamentary elections within not just the EU but Europe at large! Within the EU parliament the centre-right People’s Party and the Centre-left socialists+democrats had significant losses but managed to remain the largest groups but …good bye to their traditional majority… Greens, Liberals and the right wing nationalists made gains… A new chapter begins for Europe and beyond…

BREXIT becomes painful for all involved and the situation goes beyond the Shakespearean plot. Once can also see how president Trump “intervenes” by taking sides and supporting Boris Johnson… O tempora o mores !

What a disaster that was in the Danube river in Budapest with at least seven dead and more than twenty missing following a collision. Most of the passengers as well as victims were South Koreans tourists…Pity!

At the other side of the Atlantic more despicable news following the shooting a few hours ago at the Virginia Beach Municipal Centre, a government building with  at least 12 people dead and several injured including a police officer. The gunman was killed immy by the police during exchange of gunfire. Dreadful! What’s on then with the Gun Laws there? CAUTION as lately we see an increased escalation… Enough!

Meantime president Trump has to deal with China and other nations such as North Korea, Venezuela, and let’s see how his visit to the United Kingdom gets on…

The Oslo talks between the Venezuelans ended in yet another deadlock but both sides wish to continue… President Maduro is at least for the moment backed by the Army and his cronies whilst Juan Guaidó by the majority of the Venezuelan people. Too many outsiders wish to get involved but I guess the Fidel Castro-style days of involvement are nearly over. Russia though AND …Turkey get involved in a multiple of ways…

In Peru, following the 8 of the Richter scale earthquake in the Amazon rainforest, they are trying to get their act together as cracks open up…

In Brazil the economy contracts for the first time since 2016; CAUTION!

In India PM Narendra Modi was sworn in yesterday and announced a new cabinet to run the world’s biggest democracy; ministers have let’s see what he and the 58 strong cabinet does and how he rules this time given the American (USA) protectionism rumours for a different relationship… Add the Pakistan affair over Kashmir and see what you get…

The Chinese are now worried with the US president actions on all fronts and the latest incident on the Huawei affair so to speak… In the meantime they built tension in the South China Sea… CAUTION as there is an accident waiting to happen…

The entire African continent slides in more mess… Everywhere you search you see despicable things happening as well as an intense proxy business war between the major powers.

Japan is closely watching all happenings everywhere in order to safeguard its position on all fronts…

In Australia the first ever Aboriginal person, Ken Wyatt has been appointed by PM Scott Morrison as Australia’s Minister for the Indigenous Australians!

On another tone and note we had the two Days PSTF at Domotel and the HAMF at the Megaron of Athens respectively; two super conferences; excellent.  An excellent workshop also by DNV GL on Tankers down town Piraeus!

Coming up in the north of Europe Nor-Shipping 2019 in Oslo – a great as always international event! A day before the first ever Mare Forum Oslo 2019 “Restoring Trust – the way ahead” will take place at the Grand Hotel” in Oslo Centre!

Finally we observed the 1,566th Anniversary of the fall of Constantinople, the capital of Byzantium and modern Hellenism,  to the Ottomans; let’s think how we can create a long lasting Peace not just the Greeks with the Turks, but all the Europeans, many African and Asian Nations with the Neo-Ottoman’s of Recep Tayyip Erdoğan who threatens Peace and Stability in a radius of 3,000 KM around his country. CAUTION!

That’s all for tonight, have a nice weekend and remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean!

You may also like

Leave a Comment