The BDI (Baltic Dry Index) ended down 31 points since yesterday, but same was up 201 since last week’s 1,760 (30/09) and 145 points up since our last encounter on 23/09 when it stood at 1,816.
The main driver of these ups and downs, primarily remains the Capes and to a lesser extent the Panamaxes. The Wets struggle and it remains to be seen what this energy and climate crisis will bring coupled with dirty geopolitical games. The Ukrainian – Russian conflict continues and we await to see president Putin’s reaction, particularly when things don’t happen as planned. You haven’t seen anything yet… Turkiye, as we have continuously emphasised – and not just its president, but the entire political spectrum wishes to reinstate the “grandeur” of the Ottoman Empire, who ended as the Sick Man of Europe. Covid looms in the background; caution. John Faraclas’ fortnight Market and Geopolitical recap soon on your screens.
