Despite a minor rebound of the BDI (Baltic Dry Index) earlier on today – “thanks” to the Capes, same was 123 points down since last week’s 1,961 points and now stands at 1,838 losing also the 1,900 points threshold. The Wets mini rise both on a daily as well as weekly basis was more than welcomed in all major shipping centres. Geopolitics are approaching a turning point and we are sending another warning as you haven’t seen anything yet. In the absence of leadership and skill diplomacy everything is possible from the business hooligans and their cronies. Health issues will bother us and coupled with energy mess will turn Planet Ocean upside down. AND, if you add the inflation and recession, this lethal cocktail will destroy everything in its way. John Faraclas’ brief daily and weekly recap:
The Capes’ BCI was up 72 points since yesterday and now reads 2,166; on a weekly basis same was down 230 points – from 2,396 (07/10) losing the 2,200-2,300 points threshold…
The Panamaxes’ BPI was down seven points since yesterday and now stands at 2,081; the weekly losses alike the Capes were a triple digit 154 points – down from 2,235 (07/10)…
The Supras’ BSI lost six points since yesterday and now reads 1,690; 16 points were lost since last week’s 1,706 points as well as the 1,700 points threshold.
Handies’ BHSI was also down since yesterday standing at 1,012 – minis eight points. On a weekly basis same was down 21 points – from 1,033.
So, all in all, another falling Dry Market week proving there is no steam as well as global uncertainty…
Worth noting that last Monday the 10th of October there were nearly 150 ships, mainly bulkers awaiting inspection in Constantinople at the co-ordination centre. These ships are loading cargoes of grain and other foodstuff from mainly Ukraine in a deal between the UN, Russia, Turkey and Ukraine…
On the antipode, the Wets did well both on a daily as well as on a weekly basis; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,554 and 1,226 – up 40 and 11 points respectively. Equally substantial gains on a weekly basis – taking on account the energy issues as a result of the geopolitical chaos, the Dirties were up 93 points and the Cleans 76 – from 1,461 and 1,150 going also over the 1,500 and 1,200 points thresholds respectively.
The WTI was down at US$ 85.61 – minus US$ 3.50 since yesterday’s US$ 89.11 and US$ 7.03 since last week’s (07/10) US$ 92.64. Still beyond any pragmatism and logic given the dirty energy scams, but mainly pathetic decrease of production and settling price cups; not to mention dirty games. Shame! Once again, we reiterate that the WTI should not exceed whether we are at war(s) or other issues, the US$ 50.00 mark.
The FTSE100 ended up 8.52 points since yesterday and now stands at 6,858.79. On a weekly basis, the FTSE was down 133.30 points – from 6,991.09 (07/10). Whatever is below the 7.000 points threshold is a liability so to speak for the UK Market AND beyond; CAUTION as Mrs. Truss can land badly…
The Dow Jones was down 393.89 points since yesterday at 29,634.83 losing the 30,000.00 threshold and reached low levels for a year – on 30/09 it even went down at 28,725.51. Once again: CAUTION as Economy fears grow…
The Nikkei was up 853.28 points since yesterday (26,237.48 13/10) and now reads 27,090.76. On a weekly basis, same was down 25.35 points from 27,116.11 clocked on the 07/10… Cross your fingers as the Nikkei a fortnight ago went down to 25,937.21 (30/09)…
The Euro / US Dollar ended the week at 0,9718, slightly down than a week ago when it stood at 0,9736 (07/10). Tough times ahead on this parity front and also one must see the GBP / US Dollar parity which now stands at 1,1178… on 07/10 same was 1,1088 and on 27/09 stood at 1,0728 as a result of Mrs. Truss’ policy / budget et al… CAUTION…
Not a nice market picture overall and brace for what is yet to come…
The geopolitical mess in all fronts continues and despicable things are happening right now in all fronts and there is more to come; from A to Z we are somewhere between C and D…
The MIGRANTS issue, which takes despicable proportions everywhere, will cause even social upturns as well as confrontations between nations…
Ukraine’s mess is on a turning point and politicians cannot come to a proper Peace Agreement as there are …“vested” interests involved and will hit us all in many ways, not just the Energy ones as we mentioned recently… As we have said, World War III has begun in Syria and the Ukrainian mess boosts same further… Did I hear you sa Sanctions?
Recession and Inflation continue to produce freak waves but there is an invisible hand placing obstacles for societies to suffer for the benefit of the very few…
Difficult days ahead for the GBP – pound, and Mrs. Truss if she doesn’t make it, she will break…
Watch out Turkiye’s continuous provocations against Greece, Cyprus and all its neighbours from Central Med to the Middle East and the Balkans… Erdogan’s affairs with Putin will floor him down one way or another…
Brazil also has issue and wonder the final outcome between Lula and Bolsonaro…
In China we expect to witness another term for Xi Jinping; and remember: It’s not going to be the World China wishes, but Xi’s power unleased. Watch this space although he cannot overcome many obstacles… Mind Taiwan… A more than thorny issue…AND if the West opts for full protectionism… it will certainly be good bye to Globalisation…
Beware of proxy wars in Africa…
Caution on the EU; difficult das ahead, unless… we have Energy for all here and now and NOT being depended on the Kremlin boys…
Covid now surges and wonder what’s the next step of our hype governors…
All eyes focus on Capital Link’s 14th Annual Shipping and Marine Services Forum at 116 Pall Mall in London on 18 October, as many issues will be discussed with Geopolitics being the name of the game…
Finally, did I hear you say anything on The Envirionment..?
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, 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 has surpassed the US$ 400 (four hundred) trillion debt.
