The BDI (Baltic Dry Index) lost 23 points since yesterday and now stands at 2,331 points; on a weekly basis same was down 147 points – from 2,578… losing the 2,400 to 2,500 points threshold… Wets trying to remain buoyant… The despicable war in Ukraine continues and diplomacy is losing face… Covid “resurfaces” very strangely. John Faraclas’ daily and weekly recaps:
The Capes’ BCI was down 23 points at 2,396 and on a weekly basis; same was down 591 points from 2,987 – the 2,400 to 2900 thresholds being lost!
The Panamaxes’ BPI lost 37 points and now reads 2,695. The weekly losses were 167 point with the loss of 2,700-2,800 points threshold…
Losses for the Supras and Handies; the BSI was down 17 points to 2,449 and on a weekly basis the losses stood at 18 points – from 2,467… The BHSI lost five points and now stands at 1,334; the weekly loss was just nine points…
All in all the Dry Markets are weak and caution should be observed…
Mixed feelings for the Wets; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,219 – down three and 1,669 down 20 points respectively. On a weekly basis the Dirties were up 14 points – from 1,205 on 17/06 and the Cleans down 17 points at 1,699 – from 1,716 points… Strange days for both categories…
The WTI was up US$ 3.35 since yesterday at US$ 107.62 and on a weekly basis same was down 37 cents – from US$ 107.62 on 17/06. Whatever is above the US$ 49.99 is catastrophic; end of the story. This situation will backfire, remember this!
What is interesting these odd days is the Ship’s Sale and Purchase front; our advice and view remains to go for newbuildings given the environmental and technological improvements and needs of trade. I guess these is the right time.
On the Geopolitical front things are getting worse in all fronts with the Ukrainian mess now entering its fifth month. It is like the song of my late idol Leonard Coen “Everybody knows”. We all knew Putin’s intensions but nobody acted in anyway whatsoever to stop him. Now we have to pay the wrath of war, a war that is about to spill over with incalculable and despicable effects and repercussions for humanity. The UN Secretary-General must openly speak and reprimand both sides; you see, you need two in a tango. That is why we have written in the past the both to blame collision situ in this conflict. We are more powerful in the West with NATO being the spearhead, the projectile of our supremacy, but Putin can make use, at best, even of controlled nuclear weapons. Still we can wipe him out… Time to seat down and let diplomacy solve the issues there or else – which we will all regret it. Add the Recession and Inflation which we have to admit that both spread uncontrollably and the populo might opt for a multi social upturn all over Planet Ocean, which I can assure you, will be devastating. Did I hear you say that the Global debt is over US$ 400 (fourhundred) trillion? Add this on top of the above issues and see what’s coming up…
Turkiye (Turkey) as numerous times have written with its president’s megalomaniac position will rocks Peace in the Central and East Med regions including the Balkans, the Aegean and parts of the Middle East. CAUTION and vigilance are the best remedy for all nations in the region and areas we mentioned.
Covid spreads and it is about time to tackle same before it is too late.
Tomorrow is World’s Seafarers Day.
On Sunday the HESGB summer BBQ will take place in Trailfinders and looks likely the weather will be great!
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 debt…
