John Faraclas
Volatile Capes do it again
The volatile Capes fell 86 points earlier on today bringing the BDI (Baltic Dry Index) down to 1,725 points – down 15. Mitsotakis sworn in as Greece’s PM following a landslide victory. John Faraclas’ daily market brief:
The Capes’ BCI was down 86 points and now reads 3,260… let’s see if the drop was a daily one or shall we expect an avalanche…
The Panamaxes’ BPI was up 30 points at 1,695; not bad…
The Supras’ BSI clinched nine points and now stands at 829…
Six good points for the Handies’ BHSI now at 454 !
The Wets on a slight falling mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 650 – minus two and 542 – minus three points respectively.
The WTI was up 15 cents and now reads US$ 57.66… Still high and dangerous…
The Geopolitics couldn’t have been more messy…
The Migrants rules the day in all four hot spots with the USA/Mexico border in confusion, the entire Med and Black Sea areas, the Middle East and the Far East. CAUTION. Let’s hope in the med and in particular in Greece the newly elected Greek government does the tick and alleviate the pain…
Kyriakos Mitsotakis following his ND (Nea Demokratia) right-wing party’s landslide win– what an overwhelming majority that was given the situation prevailing in Greece following ten years of mess, austerity and governments that couldn’t perform and deliver, was sworn in as Greece’s Prime Minister! Tomorrow Tuesday the 9th his 51 member government will be sworn in. All the very best and try to do it excellently, as if you don’t do it excellent don’t do it at all. Good to hear that Yianni Plakiotakis will take over the Ministry of Shipping and Insular Policy! We will revert tomorrow evening with the full composition of the new government. Meantime mind the heatwave in Greece; the next two days are crucial… Europe continues to boil…. Remember the UK and France a couple of weeks ago..
Turkey continues to violate Cyprus, Greece and conversely the European Union’s airspace as well as territorial waters, EEZ etc etc in the most unprecedented way. The time has come to end this provocative and blackmail attitude but the European Union and NATO MUST have a coherent policy and NOT to look after “strategic” business interests as one day same will back-fie and become a boomerang… Turkey is now in the beginning of a full recession with whatever this entails… CAUTION!
The UK – USA special relationship is going through an itchy path following leaks in the media with “views” on president Trump by the British Ambassador in the USA…
Down south, in north South America, Venezuelas’ Maduro seems pleased with the kick-off of the talks with Juan Guaidó the opposition leader; Guaidó insists that Maduro cedes power… we shall see; CAUTION! You need a total solar eclipse to see things change there…
BREXIT’s twists and turns begin and the double issue: electing the new leader of the Conservative party and conversely PM coupled with the BREXIT mess will create havoc all over Planet Ocean… Let’s see what’s the alternative with the Labour party once the syndicates et al favour another referendum… All in all whatever the new leader has in mind, leaving the EU with no deal will be tough for all, particularly the masses on both sides of the British Channel…
Watch out the Hong Kong issue following the demos and all that mess there; Carrie Lam, the Hong Kong leaders says that the controversial extradition bill is … “dead”
That’s all for tonight, have a nice evening and remain on guard from actions emanating from Pirates, Terrorist, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean!
