John Faraclas
What Market Mayhem Week that was amid perplexed Geopolitics
The BDI (Baltic Dry Index) gained 40 points and ended up at 1,740 points; on a weekly basis the BDI was up 386 points thanks to the Capes’ surge – last week (28/6) the BDI stood at 1,354 points. The Geopolitical situation in all fronts, repeat in all fronts becomes more than perplexed and we have warned you long ago for the despicable unexpected to be expected any time and in a multiple of forms and means. John Faraclas’ daily and weekly recaps:
The Capes’ BCI was up 48 points at 3,346; on a weekly basis the BCI was up 858 !!! points – from 2,488 last Friday 28/6… Wonder what’s next but I don’t like volatile spikes… Be cautious with the Capes’ “games”…
The Panamaxes’ BPI was up 96 points – nearly double from the Capes above and now read at 1,665 points. On a weekly basis the BPI gained 379 points – from 1,286 as of the 28/6… One thing to notice is that some wise owners fixed their tonnage on period even less to secure profitable and uninterrupted trading and this tells a lot!!!!
The Supras’ BSI was up six points to 820 points; the weekly gained were 33 points – from 787 last week (28/6).-
Minimal gains but gains for the Handies’ BHSI; five points today rising to 448; the weekly gains were six points – up from 442 last week…
The Wets on a downwards mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 652 – minus eight and the BCTI 545 – minus six points respectively. The weekly state was mixed with the Dirties down 15 points from 662 and the Cleans up nine from 536 points.
The WTI stood up a bit – 0.71 cents since yesterday to US$ 57.51. It was though down 96 cents from last week’s US$ 58.47 .-
The Box trade raises too many questions and ultra caution should be observed.
A bit of an unease situ with War Risks given the situation in the Straits of Hormuz… CAUTION
CAUTION also with cases such as the ULCC “Grace 1” which was kicked-off from the Panama registry in May!!!! Make a note to this and let’s see how the Iranian Foreign Secretary responds…
Things are getting more than perplexed… we have longed warned you…
Will revert before midnight with a full run down on Geopolitics; until then have a nice evening and remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean.
See you at the HESGB – Hellenic Engineers Society of Great Britain summer BBQ at Trailfinders in Ealing this Sunday the 7th of July 2019…
