Home MarketsChartering Pinch me; the Dry Market “bounces” back…

Pinch me; the Dry Market “bounces” back…

John Faraclas

The BDI (Baltic Dry Index)  was up 61 points since yesterday at 2,481, thanks to all respective indices positive mood… John Faraclas early day recap:

The Capes’ BCI was up nearly 100 points, 95 to be precise, and now reads 2,488 surpassing the 2,400 points threshold.

Our most favourite –  and lately promising size the Panamaxes, surpassed the 3,000 points threshold and now reads 3,065, up 72!

Gains for the Supras’ and the Handies’ too. The BSI was up 29 points at 2,508 – surpassing the 2,500 points threshold and the BHSI was up seven at 1,343 points.

The Wets remain a liability; the last published BDTI (Dirties) and BCTI (Cleans) stood at 581 – plus two and 452 – minus six points respectively. The Dirties… “managed” to go over and above… the 580 point threshold… CAUTION!

Container-shipping is on an upwards mode with many new building orders, but fear this might end in a disaster in two ears time; suicidal greediness once again might spoil a well projected market. CAUTION!

The WTI, as these line are being written, stands at US$ 69.77 – down 28 cents since yesterday when it stood at the despicable level of US$ 70.05! CAUTION as 7.7 billion people MUST breath avoiding high oil price “suffocation”… Any objection?

Geopolitically now:

MIGRANTS remain the top issue, even at the other side of the Atlantic, with USA’s vice president Kamala Harris doing her best with Mexico’s president Andrés Manuel López Obrador to ease yet another despicable situation. We understand that about 178,000 undocumented Migrants arrived in USA’s southern border until last April, being the highest level in two decades. In Europe too, things aren’t that rosy as the EU’s politicians and their spin doctors present us; it goes from worse to worse with Turkey’s president Erdogan being the culprit of all this despicable blackmail policy!

Europe – the EU and the United Kingdom MUS avoid the mess over Northern Ireland following the BREXIT. CAUTION!

The USA will also counter to Chinese competition given the Senates approval for a massive spending plan boosting the technological research and production!

On the Coronavirus Anathema some good news during the landing here in UK from US President’s Administration which will offer 500 mio doses of the Pfizer brand to over 100 nations – about 200 mio this year with the balance by the end of 2022! Otherwise situation remains the same – mainly uncertain with the exception as we recently mentioned that Joe Biden is poised to find out what happened and how the Coronavirus (COVID-19) made its presence; the clock is ticking.

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… 

N.B. More news in the second update

Uploaded 14:55 BST

Updated  22:45 BST

.

You may also like

Leave a Comment