The BDI (Baltic Dry Index) was down 13 points since yesterday and now stands at 1,090 points. Same was though up 81 points since last week’s 1,009 (07/07). Both Wets, below 1,000 points. On the Geopolitical front, Chaos rules and soon things we go offhand. Climate Crisis continues with south of Europe on fire… John Faraclas’ daily and weekly recap:
The Capes’ BCI lost 36 points since yesterday and now reads 1,655; on a weekly basis the BCI was up 133 points surpassing the 1,600 threshold – from 1,522 last week (07/0723). Still the main Dry Market’s driver… for good and bad news…
The Panamaxes BPI lost six points and now reads 1,095, losing the 1,100 points threshold. On a weekly basis though the BPI was up 111 points – from 984 on 07/07/23…
Stagnation for the Supras’ BSI at 743, same since yesterday; on a weekly basis the BSI was up 19 points – from 724 last week…
Falling Handies with the BHSI down two points at 409 and minus 15 since last week’s 424; strange situation…
These figures fully confirm our title of this report; caution!
More worrying is the Grains deal that Russia might cancel if some terms and conditions the Russians set are not met. Wonder the UN response and secondary the Ukrainian, NATO, EU… Watch this space!
The Wets behaving strange and still below the 1,000 points threshold; the last published BDTI (Dirties) and BCTI (Cleans) stood at 959 – plus 30 and 570 – minus eight points respectively. On a weekly basis the Dirties were up 25 points and the Cleans down 35 from 934 and 605 respectively on 07/07/23; the Cleans lost the 600 points threshold!!!
On the ships Sale and Purchase front, once again we reiterate the view that owners should proceed with advanced eco / alternative sources of energy propulsion driven/equipped newbuildings, newbuildings of any kind!
The WTI fell US$ 1.47 since yesterday and now reads US$ 75.42. On a weekly basis the WTI was up US$ 1.56 – from US$ 73.86 on 07/07/23…
The FTSE 100 was down 1.47 points and now stands at 7,434.52; on a weekly basis same was up 177.58 since last week’s 7,256.94…
The Dow Jones was up 113.89 points and now reads 34,509.03; on a weekly basis the DJ was up 774.88 points – from 33,734.88 on 07/07/23. ..
The NIKKEI lost 28.07 points since yesterday and now reads 32,391.26. On a weekly basis the NIKKEI was up 2.84 points…
The Euro vs. US$ parity stood at 1,1246 – up 0,0023 and on a weekly basis same was up 0,1271 – from 1,0975 on 07/07/23… Strange but true…
On the Geopolitical front now:
The MIGRANTS issue, the most important from all other issues, continues to be a despicable case. Following the off Pylos disaster – which we covered like no other medium, we are witnessing an unprecedented attitude against the Greek Authorities, Hellenic Coast Guard in particular. These are all coming from supposed to be first class media, proving to us that these people belong to the under the stairs lot. They better see the skeletons in their cupboard and shut-up! Some also chose the time to attack Greek Tourism and its facilities etc etc. Shame! For both issues we invite them to a live debate, if they dare!
The War in Ukraine, this messy War continues with thousands dead, injured, displaced and escapers. Not to mention the catastrophe of buildings – residential, public – hospitals, schools, you name it. Did I hear you say infrastructure? Humanity, if any left, pathetically watches the tragedy, the slaughtering and will only intervene when this war enters their neighbourhoods. We have numerous times in writing and on TV said that the Third World War begun in Syria. We mentioned above that the Grains deal seems to be over; Russia will ask for an arm and a leg… Did I hear you say Wagner? What’s up there…?
Turkiye, following the devastating earthquakes, despite abstaining a little while from pestering Greece and Cyprus and demanding revision of the Treaty of Lausanne, returns with demands as well as with intrusion and violation of Greece’s and Cyprus’ airspace. CAUTION as things might get sour. In NATO’s Summit in Vilnius, Lithuania, earlier on this week, president Erdogan played again another game… Nobody is a foul… Watch this space, as how one can accept somebody who occupies European Union land and yet has aspirations in becoming a member… What a palaver… Hope Sweden will officially join NATO!
The Balkans might ignite.
Elsewhere in Europe and in particular in the south, the heatwave makes waves, freak waves so to speak… Spain, Italy and Greece as well as western Turkiye suffer…
Hope things in France calm down; enough!
Brussels must get its act together; it is about time as the European Dream might come to an end…
The Middle East is about to explode and it is about time for an Eternal Peace, or face the Wrath of War and both sides will suffer, no matter the weapons… Iran MUST come to terms or we fear atrocities…
Libya still in tatters as well as Syria…
BRICS; an “issue” to close monitor on how this group reacts and how will react in the future…
Inflation and Recession will bring us down to our knees; a social upturn is possible and we hope Posidon, the God of the Seven Seas, reason’s with us and save the day, as otherwise…
On another tone and note we had:
a) On Monday, the 10th of July, the launching of the Second Medieval Festival of Chios (26/08 to 22/09/2023) at the Marriott Hotel where Tomorrow’s Civilisation meets the Aura of Yesterday. A great launching!
b) On the 11th of July The First Hellenic American Shipping Gala at Faros’ deck in Stavros Niarchos Foundation Cultural Centre organised by the International Propeller Club, Port of Piraeus and supported by the USA Embassy in Athens Awarding all 27 shipping companies being present in the US Capital Markets.
and c) the Efkranti Awards on 12 July at the Naval Cadets Academy of Greece, organised by Naftika Chronika, where amongst others, Antonis Faraklas became the best manager in shipping for 2022, an exceptional award for a Chian, the Chios Marine Club, family and friends!
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!!!
