The BDI (Baltic Dry Index) ended down earlier on today at 1,091 points – minus 21 since yesterday, but up 172 since nearly a month ago on 02/06 when same stood at 919 points, surpassing also the 1,000 physiological point threshold. The Wets with ups and downs. The Geopolitical mess continues and our top issue all these years, the Migrants, as you have witnessed were on top of the news once again following the off-Pylos sinking Migrants shameful disaster. John Faraclas’ daily and monthly recaps:
The Capes – mainly and to a leaser extent the Panamaxes, managed to keep the market buoyant, but that’s not enough…
The Capes’ BCI was down 55 points since yesterday and now stands at 1,704; on a monthly basis same was up 588 points since the 02/06 when it clocked 1,116 points. The 1,200 to 1,700 points threshold were, thanks to… Posidon, conquered!
The Panamaxes’ BPI lost 11 points since yesterday and now reads 1,030; on a monthly basis the BPI remained the same (1,030) – since 02/06.
The Supras’ BSI was down one point at 749 since yesterday and on a monthly basis the BSI was down 70 – from 819 losing the 800 points threshold…
The Handies’ BHSI lost two points since yesterday and now read 446; on a monthly basis the Handies were down 99 points – from 545 on 02/06 losing the 500 points threshold.
Uncertainty rules the Dry Markets; patience…
The Wets still with ups and downs; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,014 -minus three and 620 – plus 17 points respectively. On a monthly basis the Dirties were down 54 points – from 1,068 on 02/06 and the Cleans down 56 – from 676 on 02/06 respectively… Difficult predictions here…
The WTI was up US$ 0.78 since yesterday and now reads US$ 70.64; on a monthly basis the WTI was down US$ 1.10 – from US$ 71.74 on 02/06/23… Strange situation here. Once again we reiterate the view that the maximum affordable by the international public level shouldn’t exceed US$ 49.99; end of the story…
The FTSE 100 was up 59.84 since yesterday and now stands at 7,531.53; on a monthly basis the FTSE100 was down 75.78 – from 7,607.28 on 02/06…
The Dow Jones was up 485.18 since yesterday and now reads 34,407.60; on a monthly basis the DJ was up 644.84 – from 33,762.76 points on 02/06…
The NIKKEI lost 45.10 points since yesterday and now reads 33,189.04; On a monthly basis the NIKKEI was up 1,664.82 from 31,524 on 02/06…
The Euro – Dollar exchange rate stood at 1,0920 – up .53 cents since yesterday’s 1,0867; on a monthly basis the difference was 0.196, from 02/06 when it stood at 1,0724… The currency war might start but we are confident the USDollar we retain its strength… despite rumours of another currency, say the Yuan making it…
On the Geopolitical front things continue to deteriorate all over Planet Ocean AND will continue in this modus creating a very difficult World to live…
The Migrants issue per our preamble above remains the top issue, far more serious than the Ukranian mess. The off-Pylos disaster proves how unable is the UN and conversely the EU and all the Mediterranean countries. Enough is enough!
The Ukranian mess continues and soon there will be a total distraction of Ukraine. Both sides will suffer; no winner in the terms we knew in similar conflicts. Wagner group’s Yevgeny Prigozhin behaviour is more than enigmatic. Indeed he was complaining over a month being in need for ammunition – without a response from the Russian Army, and “suddenly” a supposed to be more than a close ally to president Putin goes beyond “expectations” over the top and ends up in Belarus… the entire region around Russia are prepared for clashes leading to destabilasation – Baltic States, Poland, Moldova and others; Caution! Moreover in the Shipping field we need to see the Grains and other food products in the UN, Ukraine, Russia and Turkiye brokeraged deal being maintained. We also understand that the West might do concessions with Russia in the banking sphere to facilitate them with payments etc etc… Did I hear you say blackmail???? Shameful situations… Wonder if any embargo is in place. Stop mickey-mouse about… We had enough… AND: what if president Putin opts for a controlled nuclear behaviour… eh???
The Greek elections ended with an overwhelming majority / triumph of Nea Demokratia (Centre Right) and the collapse of Syriza – Progressive Alliance in an eight-party strong Parliament. Watch this space!
Turkiye’s president Erdogan, following his success in the second round of the presidential elections, begun another round of demands from Greece and Cyprus and we need to see the UN, firstly, reprimanding these Turkiye’s demands and actions. The USA, NATO and the EU MUST act swiftly before is too late and another conflagration in the South East of Europe takes place.
France in flames yet again; this must stop as it might trigger worse social upturns in other European countries. Going beyond demonstrations and burning properties – public or private, might create a worse situation for today’s protesters…
The USA and China are trying to communicate as too many issues surface which might lead to unwanted situations… CAUTION!
Pakistan will soon need a bailout in its worse since 1948 economic crisis…
The Middle East too with Israel and Palestinians as well as with Hamas and others at loggerheads might trigger another mess.
Kosovo still remains a thorny issue in the Balkans tinderbox and the Serbs might react… CAUTION!
Watch up with ex Brazilian president Bolsonaro???
British Politics become of interest to all; watch this space. Ah! And what a great Ascot Races that was!
On another tone and note we had Naftemporiki’s Forum in Piraeus, The Hellenic Shipbrokers Association / Baltic Exchange Forum and Gala at the Peace and Friendship sports complex in Neo Faliron – off Piraeus, as well as the Hellenic Shipping Bankers and Shipfinance Executives meeting at the iconic Marine Club in Piraeus and also a unique event in Constitution Square’s Metro Station in Athens on Sense of Chios. Chios not only Rules the Waves, but excels in …land products of all kinds boosted by its famous Masticha!
Have a nice evening and weekend 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!!! Let us save the Environment without any further excuses…Meantime, we are in a Recession and together with Inflation the situation will hurt all of us!!!
