The BDI (Baltic Dry Index) lost 18 points since yesterday and now stands at 919 points, losing the 1,000 points threshold as last week (26/05) same stood at 1,172 – minus 253 points! The Wets stagnant facing downward. Geopolitics of Mess – try to interpret why we use the word “mess”… and see what you get. John Faraclas’ daily and weekly recap:
All in red falling with the exception of the Panamaxes which remained unchanged at 1,030 points since yesterday but with a weekly loss of 89 points losing also the 1,100 points threshold since last week when same stood at 1,119 points…
The Capes’ BCI was down at 1,116 – minus 28 since yesterday and 567 since last week’s 1,683 points losing the 1,200 to 1,600 points threshold – proportionally the biggest loss; CAUTION!
The Supras were down 28 points since yesterday and now read 819, losing also the 900 points threshold from last week’s 946 – minus 127!
The Handies’ BHSI lost 14 points and now reads 545; on a weekly basis the BHSI was down 43 points – from 588.
The Wets too on a falling mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,068 and 676 points – down 23 and no change respectively. The weekly loss for the dirties was 88 points and the loss of the 1,100 points threshold, the Cleans though gained(!) six points – up from 670 last Friday the 26th of May 2023,
The WTI was up at US$ 71.24 from US$70.01 (01/06) and on a weekly basis down 93 cents from US$ 72.67 on 26/05!! Again, lets see same at US$ 49.99 maximum to save the 90 centum of the 7.8 billion people on Planet Ocean!
The FTSE 100 was up at 7,602 – which is 112 points plus since yesterday’s 7,490. On a weekly basis the FTSE 100 was down 25 points – from 7,627 last week…
The Dow Jones was up at 33,762.76 – thanks to the deal between president Biden and the Republicans… That’s up 701.23 since yesterday. The weekly score was 669.42 plus since last week’s 33,093.34 – Well done and cross your fingers… You dead well know what I mean!
The NIKKEI was up at 31.524.22 from 31,148.01 yesterday; not bad. The weekly gains were 607.91 – from 30,916.31 last week (26/05).
The Euro / USDollar parity stood at 1,07264 from 1,076 yesterday. Last week the score was 1,0729!!! Who holds on and why, remains to be explained…
Sales and Purchase dominate the field of newbuildings of any kind; watch this space as with the propulsion issue et al, many issues will surface. CAUTION but grasp the OPPORTUNITIES too!
As said in the preamble, we live and have Geopolitics of the Mess. In hernia operations we use the mess, correct; so metaphorically we need one to contain this despicable situation all over Planet Ocean. Thank Poseidon our Planet is mainly Water, otherwise everything was gone be on uncontrollable fires.
See the ongoing MIGRANTS Mess; the stance of the politicians is pathetic and hypocrisy rules the day… The social cohesion is in danger… MIGRANTS move uncontrollable… Bribing is the name of the game, and one day, possible very soon this will backfire…
The Ukranian Mess… begins now. From now on every single day and then hour will become crucial for all. Propaganda thrives but lets see the end result, which will be in our humble view, devastating for all. There will be a conflagration and wonder who is capable to stop it. Soon, we shall reach the point “when an oak has fallen, every man becomes a woodcutter” (δρυὸς πεσούσης πᾶς ἀνὴρ ξυλεύεται- in Greek)…
The Balkans Mess – NATO authorized Turkiye to send a commando group few hours ago. We have numerous times in writing as always warned you on Kosovo et al..
The Central East Med, The Aegean mess… ditto. So what one can expect in the short and long term? Libya in tatters, the Middle East too, Caucuses region the same…
President Erdogan of Turkiye won another five year term as president following a second round, an achievement no one else has done so far… It remains to be seen though, what will he do: will he opt for Peace in the region and simultaneously save his country from a total economic catastrophe, or arrogantly and with full nepotism will begin to axe his enemies. Being a staunch supporter of NATO is one thing, blackmailing same yet another – see his attitude with say the Swedish membership, the relationship with Greece, the Cyprus issue and see how he maneuvers with the Ukranian – Russian war AND the grains deal . Watch this space…
In neighbouring Greece, a second poll on the 25th of June will determine Greece’s next steps. Mitsotakis’ centre/right party Nea Dimokratia was short only five MPs in the first round for an overwhelming majority with 41 centum of the vote, a triumph so to speak given the parameters and socialist Tsipras trailed 20 centum behind; a catastrophe… Drama, Tragedy or Comedy; we shall see.
In the USA, Baiden’s nego skills and Republicans understanding saved the superpower from bankruptcy; the signing tomorrow. The announcement was his first one to the Nation from the oval office. This gives him the space and time to tackle China, Russia, North Korea and others who bother America. He must also strengthen the USDollar so that the American Hegemony continues – same started in 1945… For us in Shipping this is the real issue!
Mind Sudan; we might see the civil war there – it’s a civil war in our view, and will spill over… Will the Darfur region be assisted and fight poverty, as well as other issues – ethnic, religious et al?
AND what do you make BRICS’ foreign ministers meeting in Cape Town. South Africa to begin with is in a state that never ever before we have witnessed…
Lastly, a terrible train crash in India’s state of Odisha kills over 250 and leave at least 800 injured; could be the worse ever train crash. More soon.
Have a nice evening and long weekend – given the Holy Spirit Religious Holiday on Monday in Greece, but 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!!!
Uploaded 10:45 p.m 02 June 2023
Updated 11:50 p.m 02 June 2023
