The BDI (Baltic Dry Index) lost the 1,000 points threshold and now reads 978 – plus one since yesterday but down 112 points since last week’s 1,090 (14/07). Be it the Ukrainian mess, be it the summer, whatever the issue is, the Dry market becomes a liability. Whatever is below the 2,000 points, I mean the BDI, is dangerous. CAUTION. The Geopolitical front gets worse in all fronts. John Faraclas’ daily and weekly recap:
The Capes’ BCI was up 21 points since yesterday at 1,442, but down 213 since last week’s 1,665 points, losing the 1,500-1,600 points threshold.
The Panamaxes’ BDI was down 21 points – coincidentally in contrast with the Capes, since yesterday and now reads 924 which, is 171 points down since last week’s 1,095 points.
One point plus for the Supras’ BSI now at 758, which is also 15 points plus since last week’s 743 points.
The Handies’ BHSI lost three points and now reads 400; same was down two point since last week’s 402 points.
So all in all a weak Dry Market; expect surprises though…
The Wets still an odd issue; the last published BDTI (Dirties) and BCTI (Cleans) stood at 940 and 610 – minus seven and plus eight points respectively. On a weekly basis the Dirties lost 19 pints – from 959 and the Cleans gained 40 points – from 570 respectively. The Cleans managed to surpass the 600 points threshold… Still we reiterate the view that both Wets indices should go over and above the 1,000 point mark if we wish to witness a healthy Wet Market…
The Cruise Industry recovers and hope 2023 will be on par with 2019!
The WTI was up 36 cents since yesterday and now reads US$ 75.65; on a weekly basis same was up 23 cents – up from last week’s US$ 75.42…
The FTSE100 was up 17.68 points since yesterday and now reads 7,663.73; on a weekly basis the FTSE100 was up 229.16 points since last week’s 7,434.57 points…
The Dow Jones now reads 35,322.5 which is 97.37 points higher since yesterday and 813.52 points since last week’s 34,509.03…
The NIKKEI was down 186.27 points since yesterday and now stands at 32,304.25; on a weekly basis the NIKKEI was down 97.01 points since last weeks 32,’391.26 last week (14/07).
The Euro vs. USDollar parity stood at 1,1127 from 1,1134 yesterday. On a weekly basis same was down 0.0019 since last week’s 1,1246… A strong Euro with whatever this entails; watch this space…
On the Geopolitical front:
The Ukrainian mess will spill over; watch this space… Russia will use every means to destabilise a few countries making it inevitable for the West to respond… Obviously sanctions DO NOT WORK! Lets be serious… Russia focuses in creating a landlock Ukraine and then president Putin might seat to negotiate, but at what prize and price? The war in now on a turning point and we MUST all ensure for a Peace here and now as otherwise things will go off hand.
The Turkiye’s revisionism and blackmail has no limits, but… begin with Sweden and Turkiye’s objections, even want to have a vote in their country… just to gain more time and other favours from the West, Europe (EU) and NATO in particular… In other fronts like The Balkans, The Aegean, Central and East Med as well as in the Middle East, Turkiye’s demands and involvement will trigger a general conflagration…
Wonder the result of the snap Spanish election as I feel it will be difficult for any of two main parties to gain majority and a coalition might look a temporarily “solution”..
The Middle East will go up in flames for a multiple of reasons. It’s not just the Israeli – Palestinian conflict.
Somebody MUST put Iran down to its senses before the Iranians come down to the knees…
Same applies for North Korea… China cannot mickey-mouse with a proxy method there… Add the Taiwanese “affair” and South China Sea upcoming mess. North Korea’s ballistic tests might cause a swift USA response…
The Sudanese fighting mess is about to surpass 100 days and no sign for peace; the military opponents will continue until the end, unless the UN intervenes… CAUTION!
Terrible consequences with fires from Canada – a month ago, USA – recently, South Europe – as you read these news… Spain, Italy, Greece and few of their islands witness extremely high temperatures and wild fires cause havoc. Climate Crisis is known, but nobody bothered to use the RWAD plan… Shame! Human lives, Animals, property are being spared. No excuses, Shame!
Rumours that Libya will be divided/partitioned, fly around. We shall see. A very complicated case which will affect the entire Central/East Med and beyond…
Local by-elections in three constituencies in UK (England) a warning for the Torries…
Ah! AND add the MIGRANTS issue – one latest is that there is a barge in Dorset to house the Asylum seekers… and … and… We remind you of our latest TV appearances.
On another tone and note, the IMO Council has voted to appoint Mr. Arsenio Antonio Dominguez Velasco of the Republic of Panama, for an initial four-year term, as next Secretary-General, as of 1 January 2024…
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, remind you that we are in a Recession and together with Inflation the situation will hurt all of us!!!
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Uploaded 21 July 2023 at 07:52 p.m BST
Updated 21 July 2023 at 11:50 p.m BST
