The BDI@ 2,809; hiccups …rule the day. Wets struggling in a mixed mode. Geopolitical anxiety might trigger further uncertainty whilst COVID still …“goes scott-free…”
The BDI (Baltic Dry Index) lost 72 points earlier on today and now stands at 2,809; Wets falling and struggling… Geopolitics of reprisals and surprises. Coronavirus …”escapes” defeat until now, so ultra CAUTION should be observed as spreading, new mutations will create havoc. John Faraclas’ brief Market recap:
The Capes were down 213 points since yesterday losing also the 2,800 and 3,900 points threshold… with the BCI down at 3,745 points… CAUTION although its early days for warnings… We shall see.
The Panamaxes BPI was down 31 points now standing at 2,809 points…
The Supras and Handies “though” were up 22 and seven points respectively, now reading 2,450 and 1,327…
Wets still low and stagnant; the last published BDTI (Dirties) and BCTI (Cleans) stood at 614 – plus one and 526 – minus six points respectively… A worrying situation…
The WTI was unfortunately up US$2.58 since yesterday and now stands at US$68.63… Despicable and dangerous…
Boxhips now make sense; lets hope… they continue so owners can have a return to cover monumental losses.
Geopolitically, the Rynair Belarus incident will deteriorate further the US / European Union vs. Russia and its satellites nations… I guess we are going to see a major escalating counter from the entire West.
Nothing has changed in the faulty line between Gib and Afghanistan and from the Caucuses to the Horn of Africa. All ten hotspots are there and still we all await an improvement of the Israeli – Palestinian messy situation. CAUTION to both sides; humans spared from any side will turn a boomerang for the warring functions and Planet Ocean at large!
The EU still in dissaray… Add BREXIT… and see what you get…
At the other side of the Atlantic, and in particular in the USA, the Biden administration is up to the eyebrows with domestic issues – too much violence, the finances and the environment… Add the coming G7 – in London, and Brussels NATO leaders meeting after which on the 16th of June he meets Russian supremo Vladimir Putin… Brace for the outcome…
In the Far East, watch out happenings in Hong Kong… We eagerly await the passing through of the controversial electoral reform; watch this space!!!!
Still China tests not just the West in South China Sea and Taiwan, but all regional Pacific Basin nations…
More news soon.
The Coronavirus anathema continues and we are all more than concerned as there are not promising signs and projections for halting this pandemic. Ultra CAUTION should be observed. We need to see what happens when 4 (four) billion people are fully vaccinated and how many new mutations appear – this might take two years… So, difficult days ahead for humanity.
Have a nice evening and 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 us work collectively together and NOT opt for a fistful of Dollars to restart the already collapsed global economy… which is in red over US$ 300 (three hundred) trillion…
