John Faraclas
Markets stranded, explosive Geopolitics and Coronavirus is here to stay…
No change for BDI (Baltic Dry Index) which remains at 1,810 and on a weekly basis down 84 points from las Friday the 3rd of July when it stood at 1,894 points. Geopolitcs more than explosive and Coronavirus (COVID-19) cannot be handled by the Politicians and their cronies; they “have” other designs… John Faraclas’ daily and weekly recaps:
The Capes’ BCI lost 53 points today and now reads 3,333! The weekly losses were colossal: 1,107 points lost, down from 4,440 last week. Oh la la. What a fall!!! Volatility at its ever best!
The Panamaxes’ BPI gained 30 points and now stands at 1,587 points. On a weekly basis the BPI was up 271 poins – up from 1,316 surpassing the 1,400 and 1,500 points threshold. Well done!
26 plus points for the Supras’ BSI now at 835; weekly gains were 134 – from 701 surpassing also the 800 points threshold…
Finally the Handies’ BHSI clinched nine points and now reads 435. On a weekly basis the gains were 23 points – up from 412 points…
Once again, mixed feelings for the Wets; the last published BDTI (Dirties) and BCTI (Cleans) stood at 500 – plus two points and 344 – minus five points respectively. The weekly score was 29 points plus for the Dirties reaching the 500 point threshold and minus 38 for the Cleans from 382… CAUTION…
The WTI as these lines are being written stands at US$ 40.48. This is 24 cents higher since last week when the WTI stood at US$ 40.24… CAUTION…
The Geopolitical situation got worse since yesterday in all fronts:
The Saint Sophia issue will make things worse…
The entire Central and East Med might see a general conflagration… Turkey is about to rock Peace in a 2,000 miles from around its current territory… Will the Suez Canal remain open? What will China do in case same closes?
The EU and the UK are in a mess with BREXIT…. CAUTION for all…
Recession begins to bite…
Coronavirus (COVID-19) as said above, is here to stay and let’s see how we all tackle the second wave. So far we count 12,6 million infected (cases) and nearly 560,000 deaths. We believe that 4,5 billion people on Planet Ocean live is some sort of “social distancing”…
And finally on another one and note, AND in “defiance” of the Coronavirus (COVID-19) anathema, don’t forget this weekend to watch and to participate even these last moments at the Q race / parade in Spetses – the most beautiful and historic island in the Saronic Gulf off Athens, were the Yacht Club of Greece and that of Spetses, the Yacht Club of Spetses, organise a traditional so to speak “race”. From Spetses’ old Port (Palio Limani) to Aghia Marina. “Q” is the flag of the ICC International Signal Code and means “My vessel is ‘healthy’ and I request free pratique.”
Have a nice evening and weekend but continue to 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 (twohundredandsixty) trillion…
