John Faraclas
A Capes dominated Dry Market with Wets diving further amid explosive Geopolitics
The BDI (Baltic Dry Index) gained 84 points since yesterday (839) and now stands at 923 points; on a weekly basis the BDI was up 224 points – from 679 on 5 June and 329 since 29 May when it stood at 504 points. What a surge, thanks mainly to the Capes… On the …antipode the falling Wets… CAUTION ! Geopolitics on a turning point. John Faraclas’ daily and weekly recap:
The Capes’ BCI was up 223 points surpassing both the 1,400 and 1,500 points threshold and now stand at 1,523 which is 787 points higher since last week’s 736 points and 1,490 points higher sine the 29 May when the BCI stood at 46 ((yes fortysix) points! What a positive but ultra-volatile surge. Until now, the Capes rule the Dry Markets in both a positive and negative way.
The Panamaxes’ BPI on a mild upward trend; today it stood at 852 points – up 31 since yesterday and 38 since last week 5 June when same stood at 814 points… 98 points gained since the 29 May when the BPI stood at 754 points.
The Supras also on a mild upward trend; 22 points plus since yesterday and now standing at 597, which is 90 points plus since last week’s 507 and 97 points plus since the 500 points flat on 29 May 2020.
With single digit numbers the Handies’ BHSI continued to rise; today, six plus points brought the BHSI at 321 which is 27 points better from las Friday the 5th of June when same stood a 294 points. 50 points plus are the gains since the 29th of May when the Handies stood at 271 points.
So all in all an improved Dry Market, all thanks goes to Capes, but sill early days to celebrate; we need to see the BDI over and above the 2,500 points mark, then we can have a sip of masticha… the best soothing shot…
Where does the falling Wets lead us? The last published BDTI (Dirties) and BCTI (Cleans) stood at 551 – minus eight and 418 – minus four points respectively. The weekly loss was 41 points (592 on 5th June) and 162 respectively since 29 May when it stood at 713… The Cleans lost 57 since the 5th of June (475) and 169 since the 29 May 2020 respectively (from 713). Ultra caution should be observed as no one knows what’s next as this is a political issue and many believe it’s a dirty tactical trick…
The WTI stood at US$ 36.26, down US$ 3.29 since last week’s (05 June 2020) US$ 39.55 and up 77 cents since 29 May 2020 when it stood at US$ 35.49… Still an enigmatic game causing many problems in chartering and sales & purchase of ships, not to mention day-to-day life ashore… CAUTION…
On the geopolitical front the MIGRANTS remain the number one issue. On all counts the scam by the politicians and their cronies is despicable and beyond imagination. A “cult” is calling a fast one on all of us with Greece, Italy, Malta, Spain being the main victims, all countries being members of the European Union… with Turkish president Erdogan and his backers about to even destroy Peace in Central and East Med, the Balkans, EU and Middle East. What shameful blackmail!
The Turkish leader and his likes completely ignoring treaties and international law continues to pester Greece and Cyprus with provocations beyond imagination. Obviously the first we blame is German run Brussels; hypocrisy at its best! NATO too the USA and Russia for their own reason… Nemesis though hasn’t lost a single battle in the course of mankind; never ever forget this…
The Middle East is about to become once again a hot spot of multiple confrontations.
Europe in total mess…
BREXIT as per our prognosis will cause mess all over Planet Ocean… The EU and the UK MUST find a mutually accepted pattern for the day after… as and when same comes.
In the USA the mess, following the death of George Floyd continues; besides in other countries too such as France and the United Kingdom the demos cause big troubles, insecurity and arrests… CAUTION ! Wonder how president Trump and other leaders will peacefully contain this mess… Wonder also what will happen with the USA’s presidential elections.
China must provide full support and compensation to all those affected from Coronavirus (COVID-19); no excuses please.
The current Recession gets deeper and coupled with the Coronavirus anathema creates slowly and steadily a very dull environment. Given that it is early days to see the Global Economy restart ensure you have a Plan B and C for survival and adaptation in the new norm. Nothing will be the same and those leaders who relaxed the measures will get into serious trouble if the pandemic gets worse. Patience is a virtue and competent leadership a MUST. For a fistful of Dollars you don’t spare human lives! There are ways to continue safely and we must all confer to adapt in this new reality.
Maritime Tourism, part of Tourism is already suffering, but as said above you don’t spare lives for a fistful of dollars; wake up. Try and create a coherent global policy to tackle Coronavirus (COVID-19), end of the story.
As we are a shipping medium we stress the issue of crew changes and we condemn all those who treat Seafarers as third class citizens… SHAME!!!!
Have a nice evening and weekend and remain on guard from actions emanating from Pirates, Terrorists, Criminals and any Business Hooligans whatsoever wherever you are on Planet Ocean. Once again a big THANK YOU to all who really care for all humans – Doctors, Nurses, Seafarers, Dockers, Port Authorities et al during this Coronavirus disaster!! We repeat: Do please invest in Hospitals including Equipment, Doctors, Nurses and any useful means to avoid further disasters! Become more disciplined and care for the Environment too. Lastly: Education and Training for all to be able to tackle these disasters. Let’s work collectively together and NOT opt for a fistful of Dollars to restart the already collapsed global economy… which is in red US$ 260 trillion!!!!
