The BDI (Baltic Dry Index) despite losing 59 points since yesterday, same was up 340 at 1,553, since last week’s 1,213. Wets still remain an enigma, but weekly improvement counts a lot! The pathetic Geopolitical environment with the Ukrainian issue at a turning point and Turkiye’s behaviour, versus its neighbours, on the brink to become worse than what is happening in Ukraine, will cause havoc for all. Mind Covid looming in the background. John Faraclas’ daily and weekly recap:
The Capes’ BCI lost 118 points since yesterday and now reads 1,510; on a weekly basis same was up 847 points since last week’s (09 Sept 2022) 672 bringing hope… as conquering the700 to 1,500 points threshold was mana from heaven…
The Panamaxes’ BPI was down 100 points losing the 2,000 points threshold and now stands at 1,990; on a weekly basis the BPI was up 125 points going over the 1,900 points threshold…
22 plus points for the Supras’ BSI now at 1,551; on a weekly basis the BSI was up 176 points from 1,475 (09 Sept 2022) surpassing the 1,500 points threshold.
Minimal gains for the Handies’ BHSI now at 905 – plus five; on a weekly basis same was up 32 points – from 873 last week surpassing the 900 points threshold.
Still not the Dry market we wish to have and unless the 2,000 points threshold is won by the BDI, nothing else will be making us feel safe and content.
The Wets on a more positive overall note; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,492 – up 28 and 1,255 – down ten points respectively. On a weekly basis the Dirties were up 60 – from 1,492 and the Cleans up 44 – from 1,211 points respectively.
The WTI stood at US$ 85.11 from US$ 85.10 but on a weekly basis same was down US$ 1,68 – from US$ 86.79 last Friday the 9h of September. We need to see a major fall in the tune of US$ 36 and have same under the US$ 50 or face the music…
The Euro USDollar parity was 1,0005 – slightly worse than the one a week ago when it stood at 1,015 (09/09/2022). Mind me, we witnessed on the 14 and 15th of September a below the one dollar level…. CAUTION for the Euro area and beyond…
The FTSE 100 fell 45.14 since yesterday and now stands at 7,236.88. On a weekly basis the FTSE lost 114.19 – from 7,351.07…
The Dow Jones was down to 30,822.42 losing 139.40 since yesterday and on a weekly basis same was down 1,329.59 since last week’s 32,151.71 (09/09/2022)…
The Nikkei was also down 308.20 since yesterday and now reads 27,567.65. The weekly losses amounts to 647.10 – down from 28,214.75 on 09/09/2022…
CAUTION as if we go under the 7,000, 30,000 and 25,000 respectively nextweek the going will get tough…
Mind the interest rates too…
All in all the entire Energy issue smells fire; watch the ignition, it can happen with detrimental consequences for all… Who is to blame? Simply the politicians; end of the story as they left our European mainly entity totally unfortified… Obviously, the public will pay the hefty energy “penalty”…
The war in Ukraine is about to enter its eighth month and instead of reaching any Peace agreement whatsoever, same expands in all fronts, regions and daily life all over Planet Ocean. Sanctions as we have warned never worked, on the contrary they brought billions of USDollars of gains for the Kremlin… “Wonder” what if president Putin doesn’t meet his objectives of this military special operation, what will he do…, given the counter offensive of the Ukrainians supported from the West… What the international public is now asking is: who called a fast one, the West or president Putin? You haven’t seen anything yet…
Turkiye is about to begin a revision to Peace Agreements around its frontiers with almost all its neighbours and bring back the Ottoman Empire making the Ukrainian issue look like a kindergarten … The UN, NATO and the EU have to intervene before it’s too late and no one will ever accept any excuses… The entire Turkiye political spectrum is raising the stakes and want back the “Ottoman grandeur”, yes you are reading correct: The sick man of Europe is bouncing back after 100 plus years. Caution: the danger of a spill over is more than real, particularly from a bankrupt state using ultra blackmail techniques in the 21st century…
Once again Armenian and Azeris at loggerheads as well as in Tajikistan and Kyrgyzstan we learn of coming border conflict…
Mind the presidential election result in Brazil; Bolsonaro or Lula, Brazil needs to be streamlined once and for all. This coming October’s election in Brazil is vital for all in Latin America!!!
Not so good news for VP Cristina de Kirchner of Argentina as she was attacked but the gun jammed and she wasn’t hurt in Buenos Aires outside her home meeting supporters last week… The couple behind this attempt deny everything but a judge in Buenos Aires maintains this was planned and co-ordinated…
World leaders and dignitaries are gathering to pay their tributes and respects to Her Majesty Queen Elizabeth whose funeral is this coming Monday the 19th of September at Westminster Abbey; she unites 7,7 billion plus people all over Planet Ocean! The Queen of all; blessed!
Meantime, Liz Truss, the new British PM has a Herculean task ahead to save the United Kingdom and its economy; watch this space.
Recession and Inflation rule the day but no one wishes to accept the harsh reality. This time the new big bang will be far worse than the 2008 one given that the world debt exceeds the US$ 400 trillion mark.
Economists and analysts trying their long and sort to save us but politicians on all sides are at best deaf… The danger of a social upturn amid the war in Ukraine, the forthcoming one in the Central / East Med, Balkans and Middle East, Energy mess and Covid is more than real.
Climate Crisis makes things far worse and I guess we are witnessing one of the worse droughts all over Planet Ocean, from Europe to China, from Europe down to many parts of Africa. Add the USA and see what you get. Famine looms in the background… Fashion is in jeopardy due to this Climate Crisis.
On another note, having missed four consecutive events due to travelling and Covid’s restrictions, we manage to make it to Hydra with one top of the range catamarans, the Speed Cat I of Alpha Lines – she successfully completes over a year now the sea-route from Piraeus down to Spetses and beyond, and will attend tomorrow the 13th Hydra Shipping Conference.
A few hours ago we were invited by the president of The Fraternity of the Athenian Hydriots, John Sahinis, to the pre-conference reception drinks and dips at his family’s historic mansion; excellemous! Will revert with a full account on the conference soon.
Coming up:
The International Propeller Club of the United States 96th Annual Convention and Conference in Grand Hyatt Hotel in Athens 20 to 23 September 2022,
The 21st ΝΑVIGATOR 2022 – THE SHIPPING DECISION MAKERS FORUM / WEEKEND, Chios and Inousses Islands, 23-25 SEPTEMBER 2022
and,
The 12th Annual Capital Link Sustainability Forum will take place as an in-person event on Tuesday, September 27, 2022, under the Auspices of Attica Region, at the Grand Hyatt Athens Hotel.
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 over the US$ 400 (four hundred) trillion debt mark…