The BDI (Baltic Dry Index) was up just eight points since yesterday and now reads 1,136; same was up 26 points since last week’s 1,110; the Wets on a falling and odd mode. The Geopolitical scene gets worse and we might see despicable escalations and spreading of the Ukrainian mess with incalculable repercussions to humanity. The brief daily and weekly recap by John Faraclas:
The Capes’ BCI gained 15 points since yesterday and now reads 1,818, but on a weekly basis same was down 12 points (from 1,830 points on 28/07).
The Panamaxes’ BPI was up 21 points since yesterday and now reads 1,133; the weekly score was a good, alas 158 points plus from last week’s 975 points surpassing both the 1,000 and 1,100 points threshold!!
Single digit losses for both the Supras and Handies; the BSI was down seven points since yesterday and now reads 688 points. The weekly losses “reached” 38 points – from 726 points on 28/07, losing also the 700 points threshold.
The BHSI lost just a point and now reads 390; on a weekly basis the Handies lost six points from 396…
All in all a struggling Dry Market and CAUTION is recommended…
The Wets very odd and on a falling mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 800 and 706 points – down ten points respectively. The weekly scene was: minus 73 points for the Dirties and plus nine for the Cleans – 873 and 697 respectively. The Cleans surpassed the 700 points threshold… CAUTION too is recommended…
On the Ships Sale & Purchase front, we hear of billion dollar orders and that’s more than encouraging!
The WTI was up US$ 1.27 since yesterday and now reads US$82.82 – a nasty figure… On a weekly basis the WTI was up US$ 2.23 from US$ 80.59 on 28/07…
Once again we reiterate the view that the WTI shouldn’t be a nickel above the US$ 49.99; end of the story, a real mess for humanity… a despicable exploitation for the 90 centum of Planet Ocean’s population! Wake up before we witness uncontrollable situations!
In brief as we are travelling, the Geopolitical scene is getting worse:
The mess in Ukraine now looks likely will continue for the foreseeable future; the more the Ukrainians counter back and respond to the Russian advances as well as trying to regain lost land, the more the Russian continue with a ferocity never witnessed before. The War will spread to other countries and obviously we hope not, but as things tell us, it is more than a possible “option”… Ah! By the way, did I hear you say Sanctions? Nothing works!
The despicable Migrants mess, the number one issue all over Planet Ocean, continues with more people losing their lives including young children and babies. Expect more incidents. We have been absolutely clear from day one: A Naval blockade, with a Mandate and Rules of Engagement can only deter this inhumane situation; end of the story.-
Wildfires continue and there will more; you can’t beat nature, only arsonists.
Watch out Africa and in particular Niger, Libya, South Africa…
The Middle East, Iran are also on a turning point once again…
China begins to play on high stakes and wonder what’s next…
Will BRICS survive…?
Watch-out Ethiopia…
More news next week with a full recap, particularly on Geopolitics.
As we are travelling, we insist to more thorough checks and meticulous cleaning of airports and air-crafts… particularly as have now officially one more Covid variant, the EG.5 “Eris”. Each time we end this reports we insist and remind that Covid is still here!!! No excuses and don’t try to hide same. In Autumn I guess we are going to see en mass vaccinations. Wake up!! It is NOT over!
Some good news: Good to see so many mega Cruise ships at Katakolon, Peloponnese, Greece!!! (see picture below)
FIFA’s Women’s World Cup continues and we wouldn’t be surprise to see an odd pair at the finals; watch this space!
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 (now with “Eris” read above), 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!!!
P.S. We landed safely in Copenhagen and tomorrow will attend the Blue MBA Graduation at the famous Copenhagen Business School. Watch this space!
