Dry Markets …dry out whilst the Wets skyrock amid COVID-19 mess and oil prices collapse…

John Faraclas

Dry Markets …dry out whilst the Wets skyrock amid COVID-19 mess and oil prices collapse…

The BDI (Baltic Dry Index) lost 29 points and now stands at 728 as all other dry indices fell. The Wets and conversely tankers are in great demand as the WTI fells abruptly to records low. Geopolitics in total mess. Coronavirus, a major enigma, is here to stay despite extraordinary efforts to contain same, unless the perfect super vaccine does the trick. John Faraclas’ brief post Orthodox Easter recap:

The Capes’ BCI was down 53 points at 1,004 –  same stood at 1,057, plus 64 yesterday…

The Panamaxes’ BPI down 18 at 804 – 822, minus three yesterday…

The Supras’ BSI down eight at 390 – 398, minus six yesterday, and the Handies’ BHSI down six at 263 – 269, minus six yesterday…

The Cruise Industry, part of the Maritime trillion dollar industry, which includes a great percentage of Air Travel, eagerly awaits the green light but… we need to ensure everything will be even safer than before… Tourism currently is in tatters… Patience is a virtue and Discipline a MUST; don’ be greedy!!!!

The Wets, due to the collapse of WTI, skyrocks; the last published figures for the Dirties’ BDTI were up 195 points at 1,377 and the Cleans’ BCTI was up 322 at 1,367 points!!!! An unprecedented surge given the collapse of the WTI! Yesterday  the BDTI stood at 1,182 – up 28 points and the BCTI was up 96 at 1,045 points surpassing the 1,000 point threshold!!!! You can see the difference!!!!

The WTI went down under the ZERO USDollar mark,  even down to minus US$ 37 overnight to trade during the day at region US$5 (five) and a bit plus…!!!! As you read these lines same stands at US$ 11.57!!!! Brent follows suit! CAUTION. This is Shock and Awe at its best with billion, possibly trillion of dollars losses and incalculable repercussions for all in the oil business and beyond… except for some tanker owners either for trip or mainly for storage charter… Tomorrow will be another day… Stock Markets fear the tsunami too but nothing “spectacular” is happenning. CAUTION as, if we see the Dow Jones below the 18,000 points, the FTSE 100 below the 4,800 points and the Nikkei 225 below 15,000, then be ready to pronounce the Greek words Catastrophe, Chaos and Cyclone – the triple C as we call it. Has the time for the Alternative Sources of Energy arrived??? If so, as we have always mentioned, one thing will happen: BIG MONEY WILL CHANGE HANDS!

On the Geopolitical front things get worse everywhere particularly in Central and East Med with Turkey violating everything and everybody, pestering mainly Greece, Cyprus and  “conversely” …the European Union in trying to establish a foot in Libya. There is NOT any excuse anymore to stand from either the EU and NATO for keeping a blind eye if the shit hits the fan. SHAME!!!!!

More news on Geopolitics tomorrow in our mid-week recap…

Coronavirus, the big enigma mentioned above in our preamble, is here to stay but we need to know the real culprits who did this mess, this inhumane mess. This is a stigma for our society… our supposed free and democratic Planet Ocean…  Expect even a social upturn if things get worse with this “Stay at Home” status/policy – remedy… This Recession will be ten times worse from the one experienced in 2008 (beginning) , when exactly 12 years ago the oil price was US$ 147 per barrel… and far worse from the 1929 one in the USA with the Stock Market Crash which lead to the Great Recession!!

Have a nice evening and remain on guard from actions emanating from Pirates, Terrorists, Criminals and any Business Hooligan whatsoever wherever you are on Planet Ocean.