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Home HRAnniversaries What a nice Dry weekending; Wets low and plentiful on enigmatic Geopolitics amid Covid’s coming mess…

What a nice Dry weekending; Wets low and plentiful on enigmatic Geopolitics amid Covid’s coming mess…

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What a nice Dry weekending; Wets low and plentiful on enigmatic Geopolitics amid Covid’s coming mess…

John Faraclas

The Dry Market’s surge was something much needed and hope there will be a good balance as the Global Economy is in tatters. The billion dollar question is the Wets… Still enigmatic – AND perplexed Geopolitics with the Coronavirus Anathema still causing mess. John Faraclas’ daily and weekly recap:

The BDI was up 80 points over and above the 3,200 points threshold at 3,255! On a weekly basis the BDI was up 37 points from 3,218 since the 18h of June 2021.

The Capes’ BCI surge was a triple digit one – 126 points uplifting same at 3,987 points, surpassing the 3,900 points threshold. On a weekly though basis the BCI was down 42 points – from 4,029 losing the 4,000 points threshold. A very volatile situation…

Rich pickings for the Panamaxes BPI; up 127 points surpassing the 3,600 points threshold; the weekly result: plus 98 points – up from 3,544 points!

Well done for the Supras’ BSI now at 2,877 – up 13 points and a good weekly performance: 75 points plus since last week’s 2,802 points…

The best performance was witnessed by the Handies’ BHSI. On a daily basis the BHSI was up 27 points standing at 1,503 – a milestone. On a weekly basis a triple digit point, 105 was added (from 1,398 last week surpassing the 1,400 and 1,500 points threshold!)

So all in all a firm but volatile Dry Market; a market for strong nerves…

Containers’ t/c rates are in the region of US$100,000 daily…. Watch this space…

A very enigmatic Wet Market; the last published BDTI (Dirties) and BCTI (Cleans) stood at 624 – no change and 449 – minus one point respectively. On a weekly basis the Dirties were up 32 points – from 592 and the Cleans down three from 452… This is the biggest worry…

The WTI seems is going to bring a crash as same surpassed the US$ 74 mark and now reads US$ 74.05 – up 75 cents since yesterday… On a weekly basis the WTI was up US$ 2.41 and that’s catastrophic… Remember this on day when things will turn source. We reiterate the view that anything above the US$ 39.99 will one day cause chaotic scenes in the streets… 7.7 people suffer because of these pathetic prices… CAUTION!

In the Demolition front and just before the Monsoon season, scrap markets are doing well; very firm with Tankers doing more than well. Four nations (in alphabetical order) have the lion share – Bangladesh, India, Pakistan and Turkey. Pakistan leads followed by Bangladesh, India, and at the tail is Turkey… In the first three we witnessed improving prices whilst in Turkey things remained steady – levels between 550 to 570 for the first three depending type of vessels and 280 to 300 for Turkey…

Reverting on the turbulent Geopolitics as well as on the Coronavirus Anathema which advances further.

On another tone and note today we celebrate all over Planet Ocean the Day of Seafarer. Very simply: R E S P E C T to all Seafarers!

Have a nice evening, weekend  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… 

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