The BDI (Baltic Dry Index) closed at 1,558 points like last week; nothing is accidental as the public says… Volatility of the Capes, and weakness of the other indices, brought this situation. The Wets, more than enigmatic. The Geopolitical spectrum smell of more gun powder. CAUTION! John Faraclas’ daily and Weekly Market and Geopolitics recap:
The BDI lost 50 points since yesterday equalising its weekly figure of 1,558.
The Capes’ BCI was down 110 since yesterday but 72 points up since last week’s 2,384 points, going over and above the 2,400 points threshold. Once again, we reiterate the view that, one size cannot constitute a market!
The Panamaxes’ BPI, our favourite size, was down 43 points since yesterday at 1,402 and on a weekly basis same was down 99 – from 1,501 last week, losing the 1,500 points threshold… CAUTION!
The Supras and Handies losses were single digit ones; the BSI lost seven and the BHSI three points respectively and now reading 1,105 and 632 points respectively. On a weekly basis the BSI was up nine points – from 1,096 surpassing the 1,100 points and the BHSI was down 31 – from 663…
So all in all still a Dry Market without steam and projection; time will tell though…
The Wets volatile; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,251- plus 34 since yesterday and 633 – minus four respectively. On a weekly basis the Dirties was up 179 points and the Cleans down 59 – from 692 points. One could expect that with the airline industry upcoming given a tenfold increase in travel, the Cleans were going to be higher… Watch this space.
The WTI was down 83 cents since yesterday at US$ 70.04 – from US$ 70.87; on a weekly basis the WTI was down US$ 1.30 from US$ 71.34 on the 5th of May 2023. Hope same comes down to US$ 49.99 as we have numerous times stressed in this medium and reports.
The FTSE100 was up 24.04 points since yesterday (7,730.58) and now reads 7,754.62. On a weekly basis the FTSE100 was down 23.76 points from 7,778.38 a week ago. Not bad given the circumstances and hope same can go over and above the 8,000 points like on 20 February 2023!
The Dow Jones was down 8.89 points since yesterday (33.309.51) and now reads 33,300.62. On a weekly basis the DJ was down 374.26 points since the 5th of May when same stood at 33,674.88. Wonder what’s next given the financial “status” vis-a-vis the federal states’ payment capabilities…
The Nikkei was up 261.58 points since yesterday (29,126.72) and now reads 29,388.30. On a weekly basis same was up 438.42 since the 8th of May -as on the 5th the Nikkei was closed- (28,949.88). Not bad eh!
The Euro vs USDollar …parity stood at US$ 1,0937 from US$ 1,0912 yesterday. On the 5th of May same was 1,1209 Hmmm…
On the Geopolitical front:
The Geopolitical situation continues to be despicable and dangerous for all.
The MIGRANTS unfortunately remained on top of all issues in any longitude and latitude as they say. The hyprocrisy of all politicians is despicable despite the fact that the increase is ten fold!! Such is the situation that the Most Rev Justin Welby, Archbishop of Canterbury, told peers that the Illegal Migration Bill will harm Britain’s interests with the United Kingdom and internationally! At the other side of the Atlantic, all the US States that border with Mexico might face the Migrants surge given that the Title 42, a measure due to the pandemic, will expire and this means difficulties in the swift removal of the MIGRANTS!!! Our position remains unchanged: Naval Blockade, with a Mandate and Rules of Engagement in any vulnerable area/region around Planet Ocean, be it the entire Med/Black Sea or Mexico/ or Florida or Central/ Latin America or any Far Eastern region. All other ideas and thinking on how to curb the MIGRANTS are simply nonsense; end of he story.-
The Ukrainian slaughter continues for both sides; Russians and Ukrainians will fight to the end as things and actions tell us. Nobody cares for Peace and human life… Expect the unexpected and as said on TV and written on numerous times: you haven’t seen anything yet there as well as in the region… the mess continues and soon enters, as said last week, the 15th (fifteenth) month.
The European Union continue to remain in a messy situation with too many issues in its agenda… Brussels and its cronies are a big hype. A couple of events soon though will possible push Brussels for the big change or else!!
Turkiye and Greece are having elections on 14 and 21st of May respectively – that is in less than 48 hours in Turkiye where the uncertainty rules, but nothing will really change soon as: if president Erdogan remains in power, he will be an absolute ruler with extensive powers and will call his army and public for a war in the region as his demands from his neighbours will be turned down; if rival, Kemal Kilicdaroglu, succeeds, can he keep his promise to scrap many of the powers acquired by President Erdogan after the failed coup in 2016? Time will tell. Watch this space… In Greece, the election in nine days becomes an enigma… A very much blur situation. The majority of the predictions say a win by New Democracy – Centre-right wing party, is on the cards but without overwhelming majority hence this inconclusive result will lead to another round, a difficult one for all but mainly for the Greek people. As for the recent six-party leaders debate, what a farce; we wonder if there is a state of mind on behalf of the journalists asking these questions, and for not mentioning Shipping, the number one successful and most powerful pillar of the Greek State and economy for centuries which can offer many jobs and reduce enemployment! Shame!
Elections in Thailand too… Let’s see what happens there with the military and their cronies always on stage…
What a Coronation that was. Modesty above all and a very much needed event given the state of affairs and situation in the United Kingdom as well as in the Commonwealth and Planet Ocean at large. I had an interesting walk-around for three days taking views from locals and international visitors. God Save the King! I am sure King Charles III will look after the environment, a much needed issue and hope he will succeed as for decades he is very much involved!
The Balkans on watch not only for Kosovo, but for Albania as the arrest of a Greek candidate in Himara, candidate for mayor, will create mess in the Greek-Albanian relationship… CAUTION
France, after the pension mess has to tackle regional drought!!!
Still Italy hasn’t find yet the US$ 250 billion to feel safe…
Sudan’s civil-military mess remains an enigma and the ceasefire agreed doesn’t work . CAUTION!
China might try to show its teeth but… Firstly as we said last week, the Chinese MUST mend their relationship with USA. Meantime the Chinese are eying Afghanistan and its mineral resources…
North Korea remains a liability in the region… I am afraid there might be an accident…
The Middle East once again in a mess and there is more to come; Watch this space… Israelis and Palestinians clash again…
Syria’s president Assad is back into the limelight…. as the Arab League reinstated Syria as a member…
Iraq and Iran remain in difficult circumstances both within and internationally! CAUTION as changes are in the cards…
Libya still in tatters…
Central and Latin America remain as per last week…
Did I hear you say : protecting the Environment? Let’s see what happens within the next six months…
Have a nice evening and weekend, enjoy Eurovision in Liverpool and on TV given the mess in Ukraine and lets see the winner… Meantime continue to remain on guard from actions emanating from Pirates – still around, Terrorists – again still around, Criminals and any Business Hooligans whatsoever wherever you are on Planet Ocean. A big THANKS to all still fighting the Coronavirus anathema – still with us, despite what politicians and their cronies say. Let us work collectively and restart Planet Ocean, now in debt over US$ 405 (four-hundredandfive) trillion!!! We are in Recession and together with Inflation the situation will hurt all of us!!!
-updated 23:45 BST 12 MAY 2023
