Despite the Ukrainian upheaval, Dry and Wet Markets doing well
The BDI (Baltic Dry Index) ended up 81 points since last Friday the 18th of February 2022, surpassing also the 2,000 points threshold and now reads 2,045. Both Wets surpassed the 700 points threshold. Ukraine will turn Planet Ocean upside down, but there is a lot of hype there and too many lies…AND Covid-19 still around… John Faraclas’ brief daily market and Geopolitics recap:
The Capes’ BCI was up 174 surpassing both thresholds 1,700 and 1,800 points and now read 1,849 points…
A modest plus 66 points for the Panamaxes’ BPI now at 2,441… not bad…
Supras’ BSI clinched 17 points and now read 2,342…
21 good points for the Handies’ BHSI surpassing also the 1,300 points threshold and now standing at 1,306 !!!
All in all a good surge and let’s see how the Dry market evolves this current week…
The Wets on an upturn; the last published BDTI (Dirties) and BCTI (Cleans) stood at 706 and 702 – up seven and 15 points respectively… Again we shall see the state of the wets being also a big test given the Ukrainian situ.
The WTI was up US$ 1.38 since last Friday (US$ 90.21) and now reads US$ 91.59. CAUTION. We do not deviate from our pragmatic beliefs and maintain the view that same should go down to US$ 49.99; end of the story, despite the Ukrainian mess…
In the Geopolitical front the focal point is Ukraine and secondary the Baltic States…
The situation is more than critical as if hostilities begin same might end in a full scale war dragging many nations in. CAUTION.
A few minutes ago we have expressed our view on Ukraine. Once again sanctions is not the reply but a counter response from the West.-
Turkey is also deviating from International Law and might cause another mess in the region.
Europe MUST get its act together; NATO too!
Covid-19 is here to stay until we have the mana from Heaven, the traditional vaccine but until then we need to see discipline and responsibility from the public and politicians respectively.
Have a nice evening and continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals and any Business Hooligans whatsoever wherever you are on Planet Ocean. Once again a big THANK YOU to all who really care for all humans – Doctors, Nurses, Seafarers, Dockers, Port Authorities et al during this Coronavirus disaster!! We repeat: Do please invest in Hospitals including Equipment, Doctors, Nurses and any useful means to avoid further disasters! Become more disciplined and care for the Environment too. Lastly: Education and Training for all to be able to tackle these disasters. Let us work collectively together and NOT opt for a fistful of Dollars to restart the already collapsed global economy… which is in red over US$ 350 (three hundredandfifty) trillion…
