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Home Marine InsuranceCorruption The BDI below 1,500; Wets “rebound”, Ukraine gets worse and Covid looms in the background

The BDI below 1,500; Wets “rebound”, Ukraine gets worse and Covid looms in the background

by admin
John Faraclas

The BDI (Baltic Dry Index) lost the 1,500 point threshold and now stands at 1,477; Wets rebound seems odd, but… Dig in for a long war in Ukraine and expect even a tactical nuclear presence… China will raise the stakes in the Far East but Biden and his allies will show zero tolerance. Covid looms in the background and September / October will be a crucial months. Climate Crisis will contribute to nowadays happenings… John Faraclas’ daily and weekly recaps:

The BDI lost 79 points since yesterday and now reads 1,477 points; same was down 83 points since last week’s 1,560 points raising eyebrows.

The Capes’ BCI was down 224 at 1,314 points losing the 1,400 points since last week’s 1,4411 – minus 99!

The Panamaxes’ BPI was also down 20 points at 1,907 and 60 points from last Friday the 5th of August when it stood at 1,967…

Supras’ BSI was up two points since yesterday at 1,593, but suffered the biggest weekly loss of 107 points since last week when it stood at 1,700 points losing also the 1,600 points threshold…

The Handies’ BHSI  was down seven points at 978 and on a weekly basis down 80 points losing the vital 1,000 points threshold…- from 1,058 last week…

All in all a downwards Dry Market and seems we are going to witness a very volatile and uncertain Dry market…

The Wets re-assert …”themselves”; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,475 – plus six and 1,423 – minus 12 points respectively. On a weekly basis the Dirties  were up 27 points – from 1,448 and the Cleans up 19 – from 1,404 points respectively.

On the Ships Sales and Purchase front Diana Shipping Inc’s acquisition of nine Ultramax Bulkers was the talk in the town; well done!

The WTI was down US$ 2.23 since yesterday and now reads US$ 92.09; on a weekly basis the WTI was up US$ 3.08 – up from US$ 89.01 (05/08). Still CAUTION as we need the mana from heaven at US$ 49.99… Expect turbulences which will bother us until next March (2023)…

The FTSE was up 61.15 at 7,500.89 since last week’s 7,439.74…

The Dow Jones was up 957.58 at 33,761.05; last week same stood at 32,803.47…, and the

NIKKEI was up 371.11 at 28.546.98 since last week’s 28,175.87…

The Euro / Dollar parity stood at 1,0262 from 1,0175 on 05 August 2022. Caution.

On the Geopolitical front:

UKRAINE: as said in the past, “You haven’t seen anything yet”. The War will continue and catastrophe will spread…

TAIWAN: China continues to flex its muscles over the issue of Taiwan with its military drills but the USA will also continue to support the Taiwanese and see what’s coming up within the next 48 hours… Watch this space!

TURKEY: Caution as you never ever know when president Erdogan will strike against a few nations in the Eastern Med / Balkans / Black Sea / Middle East region… Erdogan is the number one factor for destabilising Peace… CAUTION!

UK’s next PM looks likely to be Liz Truss as cabinet ministers switch in her favour; still though the contest continues…

AFGHANISTAN: Taliban celebrate this coming weekend a ear back in power, but what about its people
USA: who ordered Salman Rushdie’s failed execution in Chautauqua Institution, New York State? A despicable attempt boosting further his Satanic Verses.

Recession is already on in many countries and at the doorstep of others… Inflation bites too… Ultra Caution should be observed!!!

MIGRANTS: still the number one issue all over Planet Ocean. It’s about this hypocrisy ends. To this effect, only, repeat only this should apply: “Naval blockade, with a Mandate and Rules of Engagement” all over the Med and in Particular: Morocco, Libya, Syria and Turkey; end of the story. Ofcourse we have the Latin American and Far East messy Migrants trail as well as in North West Europe, France in particular from where Migrants cross over to the United Kingdom. Wonder what will happen with the Migrants and displaced people from Ukraine due to the atrocities there… Meantime never forget Nemesis as many inhumane issues will spark mess, as in the case of the unburied youngster in a Turkish islet in Evros river who divides Greece and Turkey. Shame to all, repeat: Shame to All!!!

This long weekend is the Assumption Day one and Christianity worships/ celebrates the Dormition of the All Holy Mother of God. Many Happy Returns to all for their Nameday; Marias, Panos’ et al!

Covid continues to spread and will cause havoc very soon… CAUTION…

Climate Crisis with strange weather, particularly in Europe continues… Expect messy situations by the public…

AND when we say Sanctions, we mean Sanctions and we should show zero tolerance against those who break it…

Have a nice evening and long 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…

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