The BDI (Baltic Dry Index), due to the public holidays for HM the Queen’s Platinium Jubilee, wasn’t published on 2 and 3rd of June, hence the figures are those of 01 June and same are compared with those of last Friday’s 27/05 figures. The Geopolitical spectrum gets worse and brace for the inevitable given the economic war – it’s not just Ukraine on the ground, sea and air… Turkey might soon rock Peace!!!! Covid looms in the background and other virus such as Monkepox, which if not contained NOW, will bother us. Posidonia, the biggest Shipping Show on Planet Ocean will surprise you all after four years of absence due to Covid’s mess. John Faraclas daily and weekly recap:
The BDI was up 37 points since 31 May and now stands at 2,633, but same was down 48 points since 27/05 when it stood at 2,681 points… all thanks to Capes’ …”comeback”…
The Capes’ BCI was up 259 point since yesterday and now reads 2,927; on a weekly basis same was up 109 points surpassing the 2,700 to 2,900 points threshold… cross your fingers – from 2,818 (27/05)… Unpredictable and volatile Capes: a liability…
The Panamaxes’ BPI was down 22 points at 2,851 and on a weekly basis down 197 – from 3,048 losing also the 2,900 – 3,000 points thresholds… CAUTION…
Losses for both the Supras and Handies; the BSI was down 40 points and now reads 2,703. The weekly loss was 93 points from 2,793…. The BHSI lost 19 points since yesterday and now reads 1,595 losing the 1,600 points threshold. On a weekly basis the BHSI lost 52 points – down from 1,647.
All in all not a firm Dry Market but still workable / profitable, given that the BDI is above the 2,000. The trouble begins when the BDI losses this vital 2,000-points threshold.
The Wets too on a falling mode both on a daily as well as on a weekly basis; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,104 and 1,407 points respectively. On a weekly basis the Dirties lost 24 points – from 1,128 and the Cleans 52 – from 1,459 points respectively… Still an enigmatic Wet market.
Uncertainty coupled with Volatility remains the name of the game… CAUTION.
On the Ship Sales and Purchase front we maintain the view for newbuildings as with the new “propulsion” eco methods we support the Environment.
The WTI was up US$2.00 at US$118.87 and on a weekly basis US$ 3.80 – up from US$ 115.07 on 27/05. CAUTION CAUTION CAUTION
The Geopolitical spectrum as mentioned in the preamble gets worse every single minute:
The Ukrainian mess will continue and same will spread. We repeat our prediction: you haven’t seen anything yet. Wonder what all those organisations caring for the environment and penalising all those offenders, what have to say given that pollution has completely destroyed Ukraine and an area 300 miles around Ukraine, in land – needless to say the sea, the Black Sea in particular and the Sea of Azov as well as the Ukrainian rivers. We demand that the IMO secretary General intervenes and save the Sea!!!! No excuses please.
Turkey, as mentioned in the preamble will rock Peace in Central – East Med, Aegean, Balkans, Black Sea and Middle East. Again: No excuses. NATO should consider expelling Turkey from the alliance given Turkey’s errating and blackmail attitude.
China flexing its muscles in the Pacific – South China Sea / Taiwan will lead to yet another confrontation.
North Korea might also cause “issues”… proxy yours.
Pre-Posidonia week events have begun; see same in the updates.
Enjoy Posidonia 2022 Exhibition and events! The biggest Shipping Exhibition and Show on Planet Ocean is here!!
Mind the Global Inflation and Recession, which coupled with Energy issues, as might lead to a social upturn…. and still protect ourself from Covid et al….
Have a nice evening and weekend but 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. As for the mess in Ukraine, you have not seen anything yet as well as its spread… 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 now approaching the US$ 400 (four hundred) trillion…