Capes’ fall: a tempo hiccup or a summer lasting situ? Wets still in limbo. Worsening Geopolitics and Covid will cause Chaos and Catastrophe.
Thanks to the Panamaxes’ triple digit rise that “saved” the overall picture and the BDI (Baltic Dry Index) lost just 45 points and now stands at 3,338 – as the Capes’ loss of 241 points was for many “unexpected”. Wets still a liability. Geopolitics and the Coronavirus Anathema will lead our society to a despicable mess – Chaos and Catastrophe. John Faraclas’ brief Market recap:
So the month begun with losses and until now, close to midnight BST many analysts and gurus contemplate on what is next, reassuring even that this might be a tempo situ – I do hope so…
The BCI lost 24 points and now stands at 3,690 points losing also the 3,900 down to 3,700 points threshold…
Our favourite size, the Panamaxes did well and now stands at 4,237 points surpassing also the 4,200 points threshold…
Still single digit plus points for the Supras’ and Handies; the BSI was up nine points at 2,939 and the BHSI eight at 1,549 respectively.
All in all a buoyant Dry Market… It’s only worrying when same falls below the 2,000 points mark…
Falling Wets yet again; the last published BDTI (Dirties) and BCTI (Cleans) stood at 592 – minus six and 445 – minus two points respectively. Once again, watch this space…
The WTI is now above the US$ 75 having “gained” since yesterday (US$ 73.47) US$ 1,76 and now stands at US$ 75.23!!! Simply terrible. CAUTION; somebody plays with fire…
In the Geopolitical arena things go from worse to worse…
The Faulty Line from Gib to Afghanistan and from the Caucuses to the Horn of Africa continues to give tremors and tsunamis. The incident on the 22nd of June 2021 with HMS Defender is beyond the “norm” and part of modern warfare, better say Cyberwarfare… The Dutch were there too with the Netherlands Navy’s HNLMS Evertsen… Vessels Tracking readings looks to have been faked… As we know for over two-three decades now, in our Merchant Navy industry, we have the AIS (Automatic Identification System) which does the trick… GPS “co-ops” with AIS and might fool the lot… At the time of the alledged incident, both shops were moored in Odessa… It remains to be seen what “really” happened and what would be the response as well as the counter response… Some years ago we had an incident close to Novorossiysk involving, if my memory doesn’t fails me, a near run aground issue, involving a Greek interests bulker… Thanks to her master and crew she was saved! Spoofing is the name of the game and might lead to uncontrollable encounters…
All other issue remain unchanged; more in our weekend main recap… Watch this space!
On the Coronavirus Anathema, Delta, the surging variant goes amok… Lambda variant from Peru enters the arena… Greek letters and words are very powerful in mathematics, hence the naming of the strains… Await to see what the Sigma ΣΥΓΜΑ one might be…
More on these issues in our tomorrows main weekly recap…
Meantime, enjoy Euro 2020..
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…
