The BDI (Baltic Dry Index) gained 84 points since yesterday and now reads 1,086, which is four points higher since last week’s 1,082 and 121 plus since the 31st of August 2022 – our last recap when same stood at 965 points. Both Wets were down on a daily as well as weekly basis. We use a mild word, that of derailed to express the stigmatise Geopolitics with the Damocles Sword handing above the two combatants and their allies in the Ukrainian – Russian warring mess which will “offer” despicable and incalculable repercussions to all of us all over Planet Ocean. Add Inflation, Recession and Covid AND Monkeypox and see what is coming up! John Faraclas’ Daily and Weekly Recap:
What a week that was in the Dry Market, eh!
The Capes’ BCI, the most volatile size, gained 264 points since yesterday and now stands at 733; on a weekly basis the BCI was up 322 points – from 411 (26/08)… The 500 to 700 points threshold was …conquered!
The Panamaxes’ BPI gained 41 points since yesterday and now stands at 1,271, but lost 101 points since last week’s 1,372… The 1,300 points threshold was lost!
Daily losses for the Supras’ BSI now at 1,514 – down 45; the weekly losses stood at 230 – down from 1,744. The 1,700 and 1,600 points threshold was lost…
The Handies’ BHSI on a falling mode too lost 11 points and now reads 869; 64 points lost since last week’s 933 points with the 900 point threshold lost!
Falling Wets too; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,489 – minus 15 and 1,171 – minus 21 points respectively; the weekly losses stood at 65 for the Dirties – from 1,554 and 113 for the Cleans – from 1,284 points with the 1,500 and 1,200 points threshold respectively lost!
The WTI was up 21 cents since yesterday at US$86.82. The weekly loss was US$ 6.24 – down from US$ 93.06 (26/08)… That’s good news but need to see the US$ 49.99 mark on the board!
On the Second hand vessels market we can see a slightly falling bulker sector and a bit better prices in Tankers…
Newbuildings, which we believe should all go for, had the Bulkers on a minor falling mode, whilst tankers remained the same particularly VLCCs and Suezmaxes. Afras and MR a bit higher….
The Demo Market without major changes; in the SubContinent, Bulkers go for US$570-580 per ldt and in Turkiye US$250. Tankers slightly higher at US$580-590 and US$260-270 respectively..
The FTSE 100 was up 139.69 points since yesterday at 7,281.49 and 146.12 down since last week when same stood at 7,427.31 (26/08)…
The Dow Jones was down 337.98 points since yesterday and now reads 31,318.44; on a weekly basis same was down 964.96 – from 32,283.40 on 26/08…
The Nikkei was down 10.63 points since yesterday and now reads 27,650.47 and on a weekly basis same was down 1,190.54…
We predict stock market volatility…
The Euro /USDollar parity stood at 0,9951 down 0,0001 since yesterday and on a weekly basis same was down 0,0012 from 26/08 when same stood a 0,9963. CAUTION!!
Now the Energy Mismanagement from Brussels due to Germany’s egoism might rock the EU economies and as the war in Ukraine continues expect mess. Moreover with Recession and Inflation about to triple soon and the Sanctions not 100 centum sanctions, expect havoc. I guess before the going gets tough we MUST change leaders. These guys and dolls luck Leadership and Projection and I was verbatim right during my speeches in Universities to blame them all for what is happening . Thank the 12 Gods, everything is on record…
Add Turkiye, China and Taiwan issues and see what’s coming up, even if we don’t have any other problems. Ah!
All eyes are focusing on who will be PM in the UK, something which might have a great effect on British People and the world at large…
Watch Greece’s internal and external politics…
Brazil’s presidential election promises to be an interesting one; Lula or Bolsonaro MUST make or break!
What’s behind the attempt yesterday to assassinate Argentina’s vice-president Cristina Fernández de Kirchner? CAUTION!
USA: Biden and Trump continue to exchange “missiles” particularly after FBI searched his Florida residence for sensitive files… There are skeletons in the cupboard….
We are living in interesting times including a Climate Crisis and Health issues such as Covid… Brace….
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.
