The BDI (Baltic Dry Index), thanks to the volatile – as ever, Capes, ended up 140 points since yesterday and now stands at 2,150. On a weekly basis same was up 83 – from 2.067, when all odds were pointing to a drop below the 2,000 point threshold. The Wets remain enigmatic and with the energy crisis escalating, expect a messy outcome. The way politicians tackle COVID et al, will lead to yet another fiasco. Luck of leadership brings international holiday travel to a standstill. John Faraclas’ daily and weekly recaps:
The Capes’ BCI was up 462 points since yesterday and now reads 2,919; on a weekly basis same was up 640 points – up from 2,270 last week surpassing the 2,300 to 2,900 points thresholds!!!!!
The Panamaxes’ BPI continued to fall and 35 points were lost since yesterday bring same down to 1,885; the weekly losses were 338 – from 2,223 last week, losing the 1,900 o 2,200 points thresholds.
The Supras’ BSI was down 11 points at 2,039 and on a weekly basis 124 points were lost since last week’s 2,163 with the loss of the 2,100 points threshold…
Finally, the Handies’ BHSI was up nine points at 1,181, but on a weekly basis same was down four points – from 1,185; a stable situation…
All in all a Capes Market and as we have numerous times stressed, one size doesn’t dictate or make a good and buoyant market; Dry or Wet!
The Wets still enigmatic; the last published BDTI (Dirties) and BCTI (Cleans) remained unchanged since yesterday at 1,369 and 1,382 points respectively; on a weekly basis though, the Dirties were up 36 points since last week – from 1,333 and the Cleans 24 points down – from 1,406 points, losing also the 1,400 points threshold, respectively. Watch this space!
The WTI was up US$ 2.81 since yesterday and now reads US$ 97.59. On a weekly basis same was down US$ 7.20 – from US$ 104.79. Once again we stress the fact that not a nickel above the US4 49.99 should exist!
The FTSE100 closed up at 7,159.01 – up 119.20 since yesterday and minus 37.23 since last week’s 7,106.24 (08/07).
The Dow Jones was up 658.09 since yesterday and now reads 31,288.26 and down 49.89 since last week’s 31,338.15 (08/07)… Still above the 30,000 point threshold…
Finally, the Nikkei was up 145.12 since yesterday at 26,788.47 and on a weekly basis 271.28 – from 25,517.10 points on 08/07/2022.
CAUTION on all Stock Markets as with the Recession and Inflation “complemented” with the energy, fiasco due to the Ukrainian war and Russian blackmail – it is a fiasco not to mention a big con!! You dead well know what I mean!!! No excuses to the international public who suffers and will soon suffer to the worse extent…
The despicable developments in Ukraine continue with the loss primarily of human lives – pure citizens and it seems there is not any interest for the time being to end same… A new war is also waging, that of rebuilding Ukraine and how the cake will be divided among the big construction groups… AND if the war spreads, well… Marshall plans like measures will be taken…
Mind Turkiye’s behaviour as president Erdogan is predictably unpredictable and he might strike against Greece, Cyprus, Syria, Iraq and the Balkans… Libya too remains at stake for neo-Ottomans…
The USA, EU and NATO despite Turkey being a member, MUST intervene before it’s too late and no one will allow or accept the usual excuses…
Elsehwere, situation remains prety much the same as per last week with Italy once again in tatters as PM Mario Draghi “resigns” and bringing almost the number of goverments post WWII to 70. Super Mario has to ensure that he will do and deliver whatever it takes to save Italy and Europe, particularly under the current prevailing circumstances. CAUTION!
In UK Boris Johnson’s resignation sparked a strange race for his successor at a very crucial time; the Ukrainian factor didn’t saved him. The message: Don’t overstay your welocome; watch this space!
China continues to built up tensions in the Pacific basin and a clash over south china Sea and Taiwan looks likely to happen…
Watch out everything that happens in Africa; the Kenyan election builds up… What’s up with Rwanda and all that jazz with the controversial asylum deal with the UK?
Did I hear you say Migrants – the number one issue on Planet Ocean? Well, Mexico will spend US$ 1.5 billion to impove and modernise its border with the USA!
Mind the Wildfires ranging in Europe as well as the Heatwave in Europe where record temperatures are expected soon… Climate Crisis eh!!
Covid spreads again and we warn you of nasty surprises; its the politicians to blame, entirely, for their irresponsible behaviour. Travelling by all means of transport this week – rail, tube, bus, airplane and roro-ferry, “wonder” why only on ships it is mandatory to wear masks. Grow up! Also, something must be done on airtransport as the W.C.s are only for flies and not for humans AND why on some airlines with two or three toillets, the one is now used oly by the crew? Add the fact that hygene maintainance is observed as in the past!
The cost of airtravel is beyond any logic and the situation in airports despicable; have witnessed same in T2 at Heathrow. Airlines must ensure passengers are offered the best services reflecting the cost of their airtickets.
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…
