The BDI (Baltic Dry Index) lost 50 points since yesterday and now stands at 1,895; on a weekly basis the BDI was down 251 points since last week from 2,146 on 22 July 2022. Wets remain enigmatic as we never experienced these ups and downs before. The Geopolitical situation goes from worse to worse and nothing will surprise us vis-à-vis Ukraine, or better say president Putin’s attitude… Energy issues and the supply chain particularly food will bring social upturns breaking / wrecking many nations social cohesion… Covid will bother us for a long time. John Faraclas’ brief daily and weekly recap:
The Capes’ BCI was down 109 points since yesterday at 2, 081 and on a weekly basis 615 losing the 2,100 – 2,600 points threshold – down from 2,696 on 22/07.-
Milder fall for the Panamaxes’ BPI which lost 14 points and now reads 2,051 points. The weekly losses stood at 42 points – down from 2,093 points…
The Supras’ BSI was down 32 points losing the 2,000 points threshold and now standing at 1,971 points; on a weekly basis the BSI was down 29 points – from 2,080 last week.
Finally, the Handies’ BHSI lost 23 points and the 1,200 points threshold and now stands at 1,173; the weekly losses were 38 points – down from 1,211 (22/07).
All in all a falling Dry Market, obviously it is Summer, and there is low demand and the war in Ukraine contributes asymmetrically… Awaiting the export trail from Ukraine and Russia too following the Istanbul Agreement; Crimea had a good harvest… Cross your fingers as next week will be worse for the Dry Market!
The Wets remain peculiar under the current Geopolitical circumstances; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,466 – plus 24 and 1,363 – plus 13 respectively. On a weekly basis the Dirties were down 19 points – from 1,485 and the Cleans up 47 – from 1,316 points respectively.
The WTI was up US$ 2,20 since yesterday and now stands at US$ 98.62. Same was up US4 3.92 since last week’s (22/07) when it stood at US$ 94.70. CAUTION; we don’t want to witness a nick above the US$ 100. The US$ 49.99 is the only acceptable level; end of the story.-
The FTSE was up at 7,423.45 – plus 147.06 points since last week’s 7,276.37…
The Dow Jones gained 945.89 since last week’s 31,899.29 and now reads 32.845.13… and
The Nikkei was down 113,02 points since las week’s 27,914.66 and now reads 27,801.64.
The Euro / USDollar stood at 1,0226 from 1,0187 last Friday 22/07. CAUTION!
On the Geopolitical front, very briefly on the main issues, please note:
UKRAINE: Far worse since last week. Let us hope that the Ports and Sea Lanes in the Ukrainian and Russian Black Sea will remain open and the deal for exporting Grain, Corn and other Foodstuffs will remain in force… Can the UN Secretary-General stop both sides and resume Peace before it is too late for all of us all over Planet Ocean?
TURKIYE: The polemic rhetoric and actions as well as provocations against Greece and Cyprus must end – the Turkiye’s leadership statements are completely damaging peace in the region… There will be no excuse, hence we urge the USA, NATO and the EU to stop Turkiye’s threats. Do we need such a state like Turkiye in NATO? Turkiye’s aspirations to become a member of the EU under the ongoing circumstance over the last 48 years, becomes another midsummer dream… Watch this space!
CHINA: Nancy Pelosi, the US House Speaker tour in South East Asia includes Singapore, Malaysia, South Korea, Japan and we believe also Taiwan which will infuriate the Beijing clan. For nearly 70 years Beijing feels uneasy with TAIWAN. Difficult days ahead, but Mrs. Pelosi remains defiant as ever. We will keep you posted…
UK: Planet Ocean eagerly awaits the new leader of the Conservative Party and PM; are we going to see another woman?
Energy issues, Recession, Inflation and many large scale scandals – including banking ones for tax reasons, will open the Pandoras’ Box of many more revelations and the shit will hit the fan…
Add Covid’s resurge and advancing Moneypox and see what is coming up…
Shipping and Trade will be greatly influenced by all the above Geopolitical and Health issues, so be on guard!
Enjoy the Summer Break in anyway you can; holiday while you can!
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…
