John Faraclas
Markets? Which Markets… Coronavirus the buzz word for Geopolitics!!!
The BDI (Baltic Dry Index) close down six points since yesterday at 625; Coronavirus makes waves with thousand been infected and a new World order is ante portas. John Faraclas’ brief daily and weekly recaps:
The BDI was also down six points since lastt week’s 631…
The Capes’ BCI was up 45 points and now same reads minus 121; on a weekly basis, the BCI was up 190 points – from minus 311! Until the BCI goes on the plus it will remain in the Guinness World of Records as the most odd situation in the Dry Market for a multiple of reasons…
The Panamaxes – our most favourable size, lost its 1,000-point threshold from last week’s 1,007 and continued a free fall unusual for the current circumstances. The BCI was down 43 points since yesterday at 807 and 200 since last Friday the 13th of March 2020 (1,007); CAUTION !!!!
Losses for the Supras both on daily as well as on a weekly basis. The BSI was down seven points since yesterday at 741 and nine since last week’s closing when it stood at 750 points.
Strangely enough, the Handies managed to clinch two points since yesterday and now the BHSI stands at 423; on a weekly basis it was exceptional to see same at a good 28 plus points – up from 395, surpassing also the 400 point threshold…
All in all still a very low dry market and in combination with the new and deeper credit crunch of yet another recession and the box trade in tatters things can turn sour…
The Wets with mixed feelings; the last published BDTI (Dirties) and BCI (Cleans) stood at 1,166 – minus 76 and 848 – minus six points respectively; on a weekly basis the Dirties were down 268 points – from 1,434 whilst the Cleans were up 32 points from 816 points respectively from the 13th of March… Rich pickings for tankers, particularly the Dirties!!!!
The WTI had a …lovely disastrous fall which will greatly support the 7.7 billion poor people on Planet Ocean – something we were praying for as you have seen dozens of times in our reports, and given the Coronavirus mess… you can guess… At US$ 22.63 the WTI make waves – not to say midweek’s US$ 20.37 (18/3) reading… On a weekly basis the WTI was down US$ 9.10 – from US$31.73 (13/3)… Watch this space as the Saudis and the Russians are there for a possible stand-off… The Camels and Horses versus the Russian Bears… Wonder if any meditation can do the trick from the Western powers…
On the Coronavirus we have to be bold; we have to be Disciplined and World leaders MUST have a coherent policy. Coronavirus is the same for all of us no matter how same arrived – see our yesterday’s report. Despite being an optimistic person, I am also a pragmatist and there is a long way to go until this mess settles down. There is no truth these days, but only lies, damn lies and statistics as Benjamin Disraeli once said! Moreover as Will Rogers pointed out there are three kinds of liars: Liars, Damn Liars and Politicians. Now try to interpret these last two sayings with what we live today with the COVID-19 as well as with Planet Ocean’s most important issue, that of the MIGRANTS particularly in the Med and more specifically in the Aegean Sea and land borders between Greece and Turkey at Evros River… You might think and or believe that Turkish president Erdogan is understanding what is going on following the high, the highest level of visit there at the border by the EU top brass last week and that he will reason with the situation… He is not (reasoning) and wait to see the continuation of his blackmail tactics raising the stakes against the Europeans and the EU Secretariat in Brussels who play the most disgusting and despicable game against their own people and in particular the Greeks…
The World is NOT the same anymore and brace for despicable developments which coupled with the new Recession will turn things upside down. Once again we remind you of the World debt, now in the tune of US$ 257 (twohundredandfiftyseven) trillion… The Shipping Industry begins to suffer and goods, food in particular will create issues… The Box Trade, already in a mess… maritime tourism with the Cruise Industry screaming for help too… AND the airlines??? Imagine a global social upturn, eh??? Albert Einstein was absolutely right: Imagination is more important than knowledge… The War is on; brace!!!
Have a nice evening as well as weekend and continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals, Scientists and Business Hooligans whatsoever wherever you are on Planet Ocean. We live in interesting times!!!
