Home » Midweek’s Midsummer Market Blues…

John Faraclas

Midweek’s Midsummer Market Blues…

The BDI (Baltic Dry Index) lost 121 points since yesterday and now stands at 1,473 – losing also the 1,500 points threshold “thanks” to the volatile Capes’ fall… Geopolitics continue to get sour particularly with yet another sand-off between Greek and Turkish forces, whilst Planet Ocean slides to an enigmatic new era. CAUTION. John Faraclas’ midweek recap:

The Capes lost 303 points with the BCI down to 2,426 points – minus 303, and conversely the loss of  the 2,700 , 2,600 and 2,500 point threshold…

The Panamaxes fell too; the BPI lo 80 points as well as the 1,400 points threshold and now reads 1,335 points…

The Supras’ and the Handies’ rise was minimal but welcomed; the BSI was up three points at 932 and the BHSI up five a 469 points respectively.

All in all a diving Dry Market and wonder what’s next…

The Wets with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood a 539 – minus two  and 355 – plus five points respectively…

The WTI was a bit down since last night’s closure at US$ 41.92 and now reads US$ 41.81… let us hope same falls further to alleviate the 7.7 billion people on Planet Ocean who really suffer!

The Geopolitical front and in particular the stand-off between Turkey and Greece must have honest political leaders to be able to diffuse the situation before we end up in World War Three.

Coronavirus spread continues; I call it the Mega Covid Mayhem…

On another one and note the island of Chios celebrates today Saint Marcellas’ Day; a unique pilgrimage too as hundreds go to the shrine by the rocky coast to observe the rising “geyser”  whilst the priest reads the hymn /psalm to honor her in one of Planet Ocean’s most apocalyptic scenes…

Have a nice evening 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…

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