John Faraclas by Niki Paterakis
Panamaxes keep the BDI buoyant amid worsening Geopolitics and spreading Coronavirus
The BDI (Baltic Dry Index) was up earlier on today four points and now stands at 1,510. If the Turkish aggression continues, Shipping will be in total mess… Coronavirus continues its “advances”… John Faraclas’ daily brief recap:
The Capes’ BCI fell 59 points and now stands at 2,316 points – let’s see where this fall ends… as volatility might return, we might see, hopeful, plus points soon…
The Panamaxes continued to improve keeping buoyant the entire Dry Market…
Minor but continuous improvement for the Supras and Handies; the BSI was up 12 points at 879 and the BHSI plus two points at 475…
All in all a buoyant Dry Market thanks to the Panamaxes.
Containerships still down given also the Coronavirus aspect… Expect mess in this sector…
The Wets remain low and expect problems soon; the last published BDTI (Dirties) and BCTI (Cleans) stood at 497 – minus six and losing the 500-points threshold and 353 – plus two points respectively.
The WTI fell 31 cents to US$ 41.63… Whatever is above the US$40 mark is dangerous for the 7.7 billion people on Planet Ocean. CAUTION.
Tourism and in particular Maritime Tourism in jeopardy given the Coronavirus effect… What’s on for the day “after” eh? The Cruise Industry is back on the drawing board!
On the Geopolitical front, MIGRANTS continue to be the number one issue.
If in the faulty line from Gib to Afghanistan we have hostilities or a bad deal for Greece, Cyprus and Turkey this will confirm sooner or later the shifting of frontiers and WWIII will be a wild reality. CAUTION!!! If the international community accepts this continuous Turkish aggression one day will pay a hefty penalty. Wake up!!! What an infamous attitude the European Union has: allowing a non European Union state, Turkey, to intrude in the EU’s territorial waters and EEZ. Shame!
Beirut will also give more tremors in the region; watch it.
Europe continues to be in a mess.
The UK economy in tatters yet again… The worse year for 11 years. CAUTION. Did I hear you say more job losses? Let’s see what Boris Johnson does next to alleviate the pain of the British Economy and the well being of the British people!
Kamala Harris, Biden’s choice for VP more than excellent. She might be the reason the Democrats win and topple Trump – the 3rd of November is here!!
China on the sidelines…
Coronavirus (COVID-19) anathema will soon cause more harm and wonder were the politicians will find a shelter to hide as they let loose almost everything and the second wave will demolish the global society… Another big SHAME!!
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…
