The BDI (Baltic Dry Index) closed down at 1,082 points – minus 41 since yesterday and 197 since last Friday the 19th of August 2022, “thanks” to the triple digit weekly losses of both the Capes and Panamaxes – 300+ each… The Wets still at odds with reality; the Dirties on an upward mode whilst the Cleans slip… Geopolitics will bother us for the foreseeable future, Ukraine mess, China in the Pacific and Turkey – from Central / East Med to the Middle East, Balkans… Recession and Inflation bites all over Planet Ocean and Energy will cause social upturns – already we are witnessing same in Europe… Pharmaceuticals might fight long legal battles on Covid issues… Summer in the Northern Hemisphere quiet an excitement including heatwaves and wildfires. John Faraclas’ Daily and Weekly recaps:
With the loss of the 1,100 and 1,200 point threshold the BDI might enter unchartered waters if same goes below the psychological barrier of 1,000 points; CAUTION!
The Capes’ BCI lost 63 points since yesterday and now reads 411; on a weekly basis the BCI lost 345 points, down from 756 losing the 500-700 points threshold…
The Panamaxes BPI lost 52 points since yesterday and now stands at 1,372 points; weekly losses topped 316 points. The 1,400 – 1,600 points threshold lost!
Minor losses for the Supras’ BSI now at 1,744 – minus 19 points since yesterday, but surprise surprise nine points plus since last week’s 1,735 points!
Minimal daily losses for the Handies’ BHSI now at 933 – minus five; 27 points down since last week’s 960 points…
So, all in all, and dangerously falling Dry Market… CAUTION.
Mixed feelings for the odd performing Wets; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,554 – plus four and 1,284 – minus five points respectively. On a weekly basis the Dirties where up ten points – from 1,544 and the Cleans down 30 – from 1,314 points respectively, losing the 1,300 points threshold!
LNG’s are now doing extremely well as well as Boxships despite ports/terminals delays.
The Cruise Industry too recovers making Maritime Tourism’s investors smile…
On the Ships Sale & Puchase front, Bulker prices are falling whilst Tanker ones are on an upward mode…
Newbuildings have still room for favourable deals; it’s after all, in our view, an owners market
Demo prices are more or less steady with the subcontinent ranging beween USDollars 570 to 590 and Turkey 250 to 260 for Bulkers and Tankers respectively…
The WTI remains at US$ 93.74 – up US$ 3.30 from US$ 90.44 on 19 Aug 2022. Once again, we need to see the WTI down to US$ 49.99 to make it viable… We will continue to maintain this pragmatic view.
The main Stock Markets, still buoyant… stay cool so long the FTSE100 remains above the 7,000.00 points, today was slighly down at 7,427.31, versus last week’s 7,550.37 (19/08), the Dow Jones above the 30,000.00 – today ended at 32,283.40 against 33,706.74 last week and the NIKKEI above the 25,000.00 – was also down today at 28,641.38 whilst on 19/08 same stood a 28,930.33… CAUTION!
The Euro / USDollar parity ended down to 0,9963 from 1,0038 on 19/08… Watch this parity as same might shake the global economy as we witnessed in the aftermath of WWII with the USDollar and the GBP sterling…
The Geopolitical mess in all fronts continues…
First and foremost the MIGRANTS issue which takes despicable proportions everywhere, even in the UK according to this week’s figures…
- In the entire Med we had records yet again this year (eight months). Thousands attempt to cross over to European soil – mainland and islands, mainly Greece, Italy and secondary to Malta and Spain. Criminal gangs, traffickers, even political systems are “involved” – see the Turkish methods and you can get the message…
- In the UK we have another messy situation with those Migrants “emanating” from the north French Coast – mainly Calais reaching, recently, up to over a thousand in one day…
- Add, as we have mentioned, all those from war-broken nations, such as Ukraine and see the harsh reality!
- Migrants from as far as Afghanistan and the sub-Saharan region are coming over to Europe. Wonder what the border-guards of all those countries in between are doing; wonder also what the UN Secretary-General is doing about it…
- Still issues in Central and South Latin America with human caravans heading up to Mexico for the crossing over to the USA… Did I hear you say tunnels…
- Whatever the incompetent politicians have tried, as you can see until now, has spectacularly failed. The only way to stop the MIGRANTS cancerous issue is: “A Naval Blockade with a Mandate and Rules of Engagement”. This is the Heritage I have received by the late RAdm (HN) John (‘Dany’) Theofanides, for many years leading Greece’s frogmen, and mention same in almost all artcles and put same forward as a question to all relevant and other fora, conferences and meetings as well as when lecturing. If we had acted swiftly ten years ago, we wouldn’t be faced now with the breakage of the social cohesion, particularly in Europe. Erdogan is testing Europe, not just the EU with MIGRANTS as an additional weaponry, using blackmail too. NATO and the EU MUST act NOW under the “Naval Blockade with a Mandate and Rules of Engagement” way! Anything else is pure nonsence! End of the story. Enough of the humanitarian hype on Migrants!
The Ukraine’s mess:
- Same will hit us all in many ways, not just the Energy ones. As we have mentioned, you haven’t seen anything yet, particularly as we have entered the seventh month of this despicable conflict by both sides and mainly their backers as well as by the propaganda.
- When we say Sanctions we mean Sanctions here and now 100 centum. And as we have also mentioned in writting, the Russian people were used in limited life and internal as well as external sanctions for 72 years during the Soviet era, so nothing really bothers them with these sanctions we in the West impose. Russians will also sanction us with Energy, “thanks” to the wrong German policies. The Berlin and conversley the Brussels glitterati instead of using Russian Energy they should have encourage the development of Greek, Cypriot, Greek, Israeli, Lebenese and Turkish energy – Oil, Gas, LNG, you name it, thus bringing Peace in the East Med / Aegean Sea region…
- I do speak up on all these issues as I have travelled during the Cold War in the Soviet Union and other Warsaw Pact countries, not as a tourist – to be taken where the regime wished, but as a Seafarer and Shipping Man... I have also travelled among other regions, in the Balkans and Middle East / Persian Gulf, so I know first hand what is really going on… In a nutshell, I have visited all five Continents and the Seven Seas.-
- Add the fact that my ancestors from my late Mother’s side were 376 years based in Ukraine and Russia – in the Sea of Azof, so we know well what was happening there until 1917 when they were ousted by the Soviets… Greeks were continuously there since the 9th (ninth) century BC and uninterupted!
- From the very beginning of this mess in Ukraine, particularly just after the 24th of February 2022 , we mentioned that as we say in Marine Insurance, the both to blame collision applies…
- What will happen with Arctic Shipping and the NSR – Northern Sea Route?
Recession and Inflation make freak waves… add the consequences from the Euro / USDollar parity.
- Fortunes are already wiped out… No one wishes from our rulers today to admit we are in Recession – some even use the term “Technical Recession” and many more …”excuses”… Wonder what may happen to the USA’s Economy and the repercurssions not only for the American people, but for the world at large…
- As for the Inflationary despicable situation which is uncontrollably rising, the effects might lead to social upturns, some even unstoppable and uncontrollable with the projections being more than frightening… AND its not due to the events in Ukraine, or for the issues surrounding Taiwan, or for the mess in almost all Latin America, not to mention Africa… but due political mismanagement, scandals, all deriving from the Business Hooligans and the cover-up by their political masters…
- Now you can realise why we end all our daily and or weekly Recaps with the same phrase on the level of the debt on Planet Ocean which now exceeds the US$400 (fourhundred) trillion Dollars! Still, Planet Ocean suffers to a great extent, from Colonialism, particularly the wrong one…
- Add the proxy colonial economic wars taking place now in Africa involving also the Chinese and partly the Russians and you will see what you get…
- There isn’t a viable agenda so to say from none, say the G7 and… conversly the G20 groups… The only agenda we need is the one to rebuild trust and serve the public by making knowledge available to everyone rather than a select few, who don’t know how to use same. Remember what we have numerous times stressed on knowledge: “Knowledge is not just Power, it’s Execution”. Try to interpret our last two sentences with today’s happenings…
Too many scandals…
- Too many financial scandals…
- Too many political scandals…
- Too many health issue scandals, and
- Too many environmental scandals
All these scandals will be analysed soon so you can all see in what world we live in despite all that Democracy jazz we hear… Did I hear you say Tapping of Phones – mobiles or Landlines or the internet… Grow up, everybody knows…
In ten days we shall see who takes over The Empire: Liz Truss or Rishi Sunak? Ms Truss looks she’s ahead; will she make it as the United Kingdom’s third female PM?
The 27 member states of the EU MUST get its act together; we don’t like at all some policies outside the spirit of the Union, especially by former Eastern Block nations… It is a very crucial moment. Same applies for NATO where Turkey and its backers might rock the South East Flank of the Alliance!
In the Far East and in particular the Straits of Taiwan many things might happen with both super powers at loggerheads. China flexes its muscles, but so does the USA and its Allies…
North Korea’s leader must come down to reality before he faces a supreme alliance who will teach him The lesson… His backers too have to stop forthwith all provocative actions…
Iran too MUST also try to make Peace with Israel, and the USA. We had enough all these years, ever since the fall of the Shah and the Pahlevi Dynasti just over 44 years ago… CAUTION!
In Libya too trouble might errupt; CAUTION!!!
As the situation is turbulent, wonder what’s going to happen with Planet Ocean’s dire straits if the going gets tough… Aden, The Bosphorus, the Dardanelles, Gibraltar, Hormuz, Kiel, Skagerrak and Kattegak, Malacca Straits, Panama Canal, Taiwan Straits, Suez Canal… With the current Energy issues, things might get sour!!!!
Covid always looms in the background…
As mentioned in the preamble, Pharmaceuticals might fight long legal battles over Covid issues…
Mind how we tackle Climate Crisis, a real non-political threat which aims to destroy us in many ways. We must adapt to Nature’s events and tackle them approprately. Protecting the Environment in words and Conferences is one thing, doing the right thing in practice yet another…
In order to confront all the above issues, particularly Health (Covid et al) Energy (Emissions and Pollution) and conversly the protection of the Environment, Migrants, etc, we need a disciplined society / public and responsible politicians; end of the story!
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, some Charities, 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, we repeat: 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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Uploaded : 26 August 2022 11:30 P.M.
Updated: 26 August 2022 11:45 P.M.
