Home MarketsChartering A Bottomless Market???

John Faraclas. Picture credits George Christakis

A Bottomless Market???

A bottomless Market yet again with the BDI about to go under the 500 point threshold and the Wets to shake up Planet Ocean needs, “interwoven” with uncertain oil prices amid an unprecedented worsening Recession on Planet Ocean. John Faraclas’ daily recap:

The BDI (Baltic Dry Index) lost 20 points since yesterday and now stands at 514!!!

The Capes’ BCI was down 58 at 461 losing once again the 500-point threshold…

“Minor” losses for the Panamaxes’ BPI now at 667 – minus 11…

Supras continue to rise, even with minimal gains; the BSI clinched three points and now stands at 423!!

Handies losses continue with the BHSI down three at 228… C A U T I O N !!!

We are now DOWN 1,733 points from the BDI’s 2,247 points as of the end of Dec 2013!!! During this period we even witnessed the BDI down to 290 (10 Feb 2016) and “lately” an attempt in surpassing the 2,500 points (4h of September 2019 when it scored 2,518 points, thanks to the Capes’ 5,043 points), then a collapse given BCI’s minus levels… Mind me if we take the 4th of September 2019 figure the gap today is 2,004 points; any prophets or gurus of what’s next??

The Wets falling too but a bit softly today; the last published BDTI (Dirties) and BCTI (Cleans) stood at 863 – minus 18 and 1,163 – minus 53 points respectively… C A U T I O N!

On the Ships Sales and Purchase front, in both main sectors, Newbuildings and Second Hand, things are getting sour. Can you temporise and for how long???

The WTI lost 44 cents since yesterday and now stands at US$23.55. Keep an eye for ups and downs as situ is enigmatically perplexed… We might see 1967 developments…

Geopolitical mess loom in Coronavirus’ (COVID-19) background; what an excuse to hide very important developments all over Planet Ocean. Nothing in reality has changed:

MIGRANTS, still at the forefront – just see what happens with the Turkish aggression pestering Greece and its Eastern Aegean islands Lesvos, Chios, Samos and most of the Dodecanese Islands following the despicable events recently orchestrated by the Turkish government in Evros River, which divides the two NATO members, supported with the apathy of German led European Union!

The BREXIT developments still uncertain on how things will be – this has nothing to do with the Coronavirus (COVID-19) current issue…

The EU in total disarray…

The situation within the faulty line from Gib to Afghanistan and from the Caucuses to the Horn of Africa gets worse – see Central and East Med / Middle East sector… (Libya, Cyprus, Syria, Israel, Greece, Turkey still at loggerheads with all in the Middle East, Saudi Arabia an upcoming liability to name but a few).

At the other side of the Atlantic, the coming presidential elections in the USA will be a big surprise for all to all intents and purposes…

Central and South America: all issues we have been covering remain the same… Watch out Venezuela…

Australia as always in a very different mode… the Subcontinent too although tensions still exist…

Africa very different to all subjected to Chinese investments and loans… but now alarming the “West” and Putin’s Russia…

The Chinese have their own agenda and timing; they have to be told off, as soon there will be an economic and trade backlash…

Japan as always watches the situation… never ever underestimate Japan…

North Korea has to play with the rules as well as its backers or else…

The debt on Planet Ocean is now well over US$ 260 (twohundredandsixy) trillion…

The IMO2020 where does it stands… as well as the entire Environmental issue to save Planet Ocean???

Coronavirus (COVID-19) and its myths, all short of fake news et al continue to make waves…  SHAME!! CAUTION though as it is NOT over and the greedy hoi polloi MUST shut up now.  Tourism and Travel with its US$ 9 (nine) trillion dollar revenue / contribution in 2019 to the global economy is understandable as well as this year’s losses; loss of lives though is more important; end of the story as greediness must end forthwith. Maritime Tourism – Cruises, Yachting including the Marinas, suffers too!!!We understand the issues, don’t worry, but human life stands above everything!

We are never ever going to return to any norm. A new life, a new World Business Order will rule Planet Ocean, conversely Shipping, our business, which will turn to be Shipping for the very very very few!

More news tomorrow, VE-DAY!!! Have a nice evening, enjoy the full moon tomorrow and continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean.

P.S.: Remember to pray for all medical personnel all over who look after all of us  getting despicably low wages, whilst endagering their own lives, as well as all Seafarers who ensure continuity and all involved in the Intermodal chain!!!

You may also like

Leave a Comment