The BDI (Baltic Dry Index) lost both the 1,400 and 1,300 points threshold and now stands at 1,279 points – minus 41 since yesterday and 198 since last week’s (12/08) 1,477 points. Firming Dirties in contrast with falling Cleans makes the Wets course …”interesting”. The Geopolitical developments is a disgrace for the human race; no excuses… as the Ukrainian issue will continue with incalculable repercussions for all involved in any way…Energy issues per our title will not only derail the Global Economy will send same deep down in the Ocean’s Abyss… Covid not only is mucking about, will cause mess in September / October…John Faraclas’ daily and weekly recap:
The main driver of this week’s fall in the Dry Markets remains the Capes whose volatility goes beyond shipping business imagination. The BCI lost 111points since yesterday and now stands at 756 points; on a weekly basis the BCI lost 558 points – down from 1,314 from the 12/08, losing the 800 o 1,300 points threshold. C A U T I O N!
A …better situ for the Panamaxes’ BPI now at 1,688 – down 61 points since yesterday. The weekly losses stood at 219 points – from 1,907 since 12/08 with the loss of the 1,700 – 1,900 points threshold…
Supras did well, being also the exemption; the BSI was up 37 points since yesterday and now reads 1,735. The weekly change was a 156 points – up from 1,593 surpassing the 1,600 – 1,700 points threshold…
The Handies’ BHSI was down eight points since yesterday at 960; the weekly loss stood at 18 points – down from 978 on 12/08.
All in all a falling Dry Market and if we witness the BDI below the 1,000 points, then everything is possible…
The Wets still with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,554 – up one point and 1,314 down 12 points – respectively. On a weekly basis the BDTI was up 79 points – from 1,475 and the BCTI was down 109 – from 1,423 points respectively.
The WTI was up 33 cents since yesterday and now reads US$ 90.44; on a weekly basis same was down US$ 1.65 – from US$ 92.09… Once again we stress the urgency of going below the viable US$ 49.99 to ensure the international public is being treated well and humane…
The FTSE100 was up 14.53 since yesterday and now reads 7,550.32. the weekly difference was a 49.43 points plus since 12/08 when same stood at 7,500.89…
The Dow Jones was down 292.30 since yesterday and now stands at 33,706.74. On a weekly basis same was down 54.31 – from 33,761.05 on 12/08…
The NIKKEI was down 11.81 since yesterday and now reads 28,930.33; on a weekly basis same was 383.35 – up from 28,546.98 on 12/08…
The EURO / USDollar parity stood at 1,0038 down from last week’s (12/08) 1,0262; this begins to cause concerns and next week will be decisive; watch this space…
The Geopolitical situation continuous to worsen particularly in the Ukrainian, Far East – China, Taiwan, East Med and the USA…
UKRAINE: The coming fortnight will be more than decisive on the ground – that of course includes naval and air multi combat operations et al…. Both sides rely on alliances, even those with devils and this will widen the war and casualties. This is not just the norm of warring issues; dozens of issues on a global scale are at stake… Once again we reiterate our view: you haven’t seen anything et from both sides!
EU: The European Union continues to be in disarray and now with the developments in Ukraine things get worse and we hope, together with other non-EU states in Europe, Unity and Solidarity will remain. We have though concerns, as in past crisis, the Brussels mandarins, wrongly managed by Berlin’s political glitterati guys and dolls – what an “elite” headed by Frau Angela Merkel and Herr Wolfgang Schäuble…What we mean here is: When we say Sanctions, we mean Sanctions, end of the story.-
FAR EAST: China continues to flex its muscles so does the USA and its allies; expect mess over Trade and Taiwan… Mind North Korea too.-
TURKEY: Once again: Ultra Caution as you never ever know when president Erdogan will strike against few nations in the Eastern Med / Balkans / Black Sea / Middle East region… Erdogan and his cronies is the number one factor for destabilising Peace… Try to get the message. Turkey MUST be expelled from NATO given its relations in all fronts with NATO’s enemies! Too much hype from NATO will backfire one day.-
UK: Looks likely Liz Truss to be the winner in the United Kingdom unless we see a last minute come back, like in a soccer game, and rival Rishi Sunak gets the leadership and Premiership!
At the other side of the Atlantic:
USA: President Joe Biden is doing well, but what’s up with former president Donald Trump and documents seized earlier this month in his house at Mar-a-Lago?
Recession is already on in many countries and at the doorstep of others… Inflation bites too… Ultra Caution should be observed!!!
MIGRANTS: The Migrants drama goes not only from worse to worse, it has stigmatise our society all over Planet Ocean. It is the number one issue. It is a major hypocrisy which under the circumstances and the incompetent politicians, will never end. 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. Of course 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 which had over 21,000 Migrants so far this year crossing over from France. Wonder what will happen with the Migrants and displaced people from Ukraine due to the atrocities there if they decide to move on too for the UK… Meantime never forget Nemesis as many inhumane issues will spark mess!
Mind the ENERGY issues which already create a mess; mind RECESSION and INFLATION… Strikes will paralyse all and people will make it to the streets… Ports, Seafarers, Solicitors, even bankers will demonstrate. Many governments will fall… or face troubles… Scandals now is the norm… Take cover and get ready for an awful Autumn and Winter.
The Air Industry / Travel too are in a mess. Expect many cancellations… Despicable prices though; shame!
Touristic-wise it has been a good summer and recovery. Greece for example had an excellent come back compensating its Tourism product due to Covid… The Med region is still doing well. The Cruise Industry still does well too; an excellent recovery.
Covid continues to make waves and October is fast approaching…
Wonder how the public will behave with all the above issues…
On another tone and note we had yesterday the very successful Chios Marine Club’s Annual August Event in Chios at the Grecian Castle Hotel for which we will revert with a full write up, as well as tonight’s one as you read these lines, EVAT’s Annual Summer gathering taking place at the Mouria Restaurant in Velonas, Vrontados, Chios, Greece.
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…
*EVAT: Union of Vrontadoussians in Attica
