Home MarketsChartering The BDI@1,085; …Market rebound or what?

The BDI@1,085; …Market rebound or what?

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John Faraclas

The BDI@1,085; …Market rebound or what?

The BDI (Baltic Dry Index) gained 23 points earlier on today, thanks mainly to the volatile Capes. The Geopolitics as we have verbatim predicted got more than perplexed and will end up more than sour in all fronts, repeat in all fronts. John Faraclas’ daily and weekly brief recaps:

The weekly BDI was though down 53 points – from 1,138 last week (7 June). Still the gap between today and that as of the end of December 2013 remains firmly over 1,162 points (2,247 minus 1,085); that’s the harsh reality with the exemption that still we do not have any correlation whatsoever…

The Capes, the most volatile of all sizes, saw its BCI gaining 82 points returning to the lost threshold of 1,800 points. On a weekly basis though the BCI was down 62 – from 1,862 (7 June)… Let’s see the Capes’ game…

The Panamaxes’ BPI lost six point and now reads 1,131; the weekly fall was though substantial: 182 points lost in this numerical “jargon” as last Friday 7 June the BPI clocked  1,313… CAUTION.

The Supras were up six points with the BSI reading 716; on a weekly basis though there was a minor fall of three points (719)…

Th Handies, despite the minimal but steady plus changes was the only size which gained both on a daily as well as on a weekly basis. The BHSI now reads 420 points – up one since yesterday and plus eight since last week’s  412 points.

The Wets, once again, with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 657 – plus four and 494 – minus five points respectively. On a weekly basis the  BDTI was up 22 points – from 635 (7 June) and the BCTI was down 27 from 521 last Friday the 7th of June…

The WTI  despite the events yesterday off the Straits of Hormuz with two tankers being attacked rose slightly to US$ 52.51. On a weekly basis the WTI was down US$ 1.48 (from US$ 53.99). Indeed we must remain on guard as Ian will not tolerate with the current situation with the USA and its allies, unless Tehran is bluffing… we are prepared for everything.-

On the geopolitical front Iran and Turkey lead with the top news; Iran will threaten even with its atomic “ideology” but the USA will not back-off, just wait to see what will happen… Turkey jeopardises, amongst other issues and fronts, with Peace in the East Med and the Aegean bullying the legitimate Republic of Cyprus and violating the airspace and sea borders of Greece, a NATO ally and a European Union member state whilst having “aspirations” for a Customs Union with the EU; its drilling provocation and actions within the Cypriot EEZ as well as its threats against Greece will lead to uncontrollable and despicable situations leading to a flare up in the entire region – Balkans to Iran and from the Black Sea borders of Georgia down to Aqaba… The North Africa region will also get involved. The USA and the EU MUST act swiftly and stop forthwith the Turkish behaviour and blackmail…

More news later on.

Today we got a glimpse of the Port of Rafina, north east of Athens, from were our team embarked for a trip to the Cyclades Island of Tinos gaining advantage of the long weekend / Monday holiday in Greece supporting also Maritime Tourism and Shortsea Shipping.

Wishing you all a nice evening and weekend and continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean!

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