The BDI was down at 2,688 since yesterday’s 2,754, losing the 2,700 points threshold, Wets still falling. Geopolitics combined with the worse Recession ever and Coronavirus uncertainty rules the day…
The BDI (Baltic Dry Index) lost 55 points earlier on today and now stands at 2,754; Wets are a disaster. Geopolitics for strong nerves. Coronavirus, the biggest liability on par with the worse Global Recession, knocks our door. John Faraclas brief Market recap:
The Capes were down 173 points with the BCI at 3,572 points losing the 3,600 and 3,700 points threshold… A bit of a milder fall since yesterday’s 213 points…
The Panamaxes BPI was down at 2,767 losing the 2,800 points threshold – minus 42!
Supras in particular as well as Handies doing well… The BSI was up 42 points and now reads 2,492; the BHSI gained eight points, and now stands at 1,335 points.
Wets as said above: a disaster; the last published BDTI (Dirties) and BCTI (Cleans) stood at 610 – minus four and 510 – minus 16 points respectively…. C A U T I O N!
The much improved box trade witness a surge for containership newbuldings; interesting and promising!
The WTI was up 54 cents since yesterday and now stands at US$66.75 CAUTION…
Geopolitically now:
Following the Ryanair incident in Belarus, expect more sanctions… That is state terrorism; end of the story… and as stressed yesterday “I guess we are going to see a major escalating counter from the entire West”.
Still no change in the faulty line between Gib and Afghanistan and from the Caucuses to the Horn of Africa. Add “turbulences” on the way from Armenia and Azerbaijan… All ten hotspots are there and still we all await an improvement on the Israeli – Palestinian messy situation with many condemnations and still more to come from European politicians against Israel… Add the escalating Turkey’s threat to Peace in the entire region which is 1,500 miles around today’s Turkey’s frontiers and see what’s coming up. CAUTION!
More news tomorrow on the weekly recap.
The Coronavirus anathema continues and we must continue, as said yesterday, to be disciplined (citizens) and responsible (politicians). We have a long way to go we must also see an end in the media war with pharmaceuticals… Despicable situation and the journalists involved must seat on the dock. Ultra CAUTION should be observed.
Have a nice evening and continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals and any Business Hooligans whatsoever wherever you are on Planet Ocean. Once again a big THANK YOU to all who really care for all humans – Doctors, Nurses, Seafarers, Dockers, Port Authorities et al during this Coronavirus disaster!! We repeat: Do please invest in Hospitals including Equipment, Doctors, Nurses and any useful means to avoid further disasters! Become more disciplined and care for the Environment too. Lastly: Education and Training for all to be able to tackle these disasters. Let us work collectively together and NOT opt for a fistful of Dollars to restart the already collapsed global economy… which is in red over US$ 300 (three hundred) trillion…
