John Faraclas
Factum: The BDI@1378; Grammenos’ event a sea change…
The BDI (Baltic Dry Index) lost 50 points earlier on today and now stands at 1,378; it also lost 319 points since last week’s 1,697 points; Geopolitics entering a more than perplexed and messy period with incalculable repercussions for all . Grammenos’ event an extraordinary experience, hence the sea change event in our title. John Faraclas’ daily and weekly recap:
The BDI has lost its 1,600, 1,500 and 1,400 points threshold and things might get sour – let’s hope not!
The Capes’ BCI lost 73 points and now read 2,444 points having lost the 2,500 point threshold. The BCI also lost 506 points since last week when it stood at 2,950 points. Note also the loss of the 2,800, 2,700 and 2,600 point thresholds! CAUTION as this was the worse fall for a while shaking the markets!
The Panamaxes’ BPI was down 50 points and now stands at 1,290. The weekly losses stood at 223* – last week the BPI was standing at 1,513 and again some important threshold losses; that of the 1,500, the 1,400 and 1,300 ones!!!
The Supras’ BSI was down 41 points at 824; on a weekly basis the Supras lost 221 points (1,045 on 1 Nov.2019). Notable the loss of 1,000 and 900 point thresholds!!!!
The losses are proportionally considerable given the three-digit numbers for all the above indices…
The Handies’ BHSI was down 11 points at 539 and on a weekly 41 – from 580…
The Wets continue to fall too but at a more contained level; the last published BDTI (Dirties) and BCTI (Cleans) stood at 899 – minus 15 and 617 – minus five points respectively. The weekly losses were comparatively lower than last week and stood at minus 130 from 1,029 for the Dirties with the 1,000 and 900 thresholds lost and 70 for the Cleans from 687 last week (Friday 1 Nov 2019)…
All in all a falling market for both Dry and Wets; all in red and let’s see what is to come 11 to 15 of Nov 2019…
The WTI was up at US$ 57.42; same was also up from last week’s US$ 56.21 by US$ 1.21… CAUTION as we wish to see the WTI going under the US$ 50.00 mark as this helps the over seven billion people on Planet Ocean have a better life!!
The Geopolitics continued to deteriorate and technically Planet Ocean is on fire…
MIGRANTS, Wars, Social upturns, Trade Wars, BREXIT, Climatic Phenomena and the intensified fight to save the Environment makes the world go round and turn same upside down…. Add what we more or less mention at least once a week: the US$ 250 (twohundredand fifty) trillion World debt and see were plant Ocean is heading… more details during the first update.
On another tone and note today was the end of the three-day 35th Anniversary of the Costas Grammenos’ Centre for Shipping, Trade and Finance combined with the 9th City of London Biennial Meeting, 6-8th November at the IMO HQs which was yet again another success but obviously – as mentioned yesterday, we need to see more questions from the audience! Will revert with a full account soon.
Have a 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!
