Paraphrasing the title but not the theme of the classic film “Who’s afraid of Virginia Woolf”, here is the Allaboutshipping.co.uk’s eleventh overview and recap of the Shipping Markets and the World’s various “situations” for 2014 with John Faraclas:
With the BDI down 22 points since yesterday at 1, 599, but up 122 since last week’s 1, 477 points, uncertainty coupled with volatility and many geopolitical issues to the fore, issues of any kind, and the Market is indeed a very big enigma!
Still the main index, the BDI is down 628 points from last December’s (2013) closing at 2, 227 points, something like a 28 centum, and obviously we have to stress that one category doesn’t make up the market; I am referring to the Cape size vessels. More ships are entering the trade and this will continue to destabilize the markets further!
Overall the Cape size index, the BCI closed down 93 points since yesterday at 3, 053 points, but up 376 since last week’s 2, 677 points; so down 303 points the previous week, up 376 now, that’s a total of 73 points plus, but nothing to celebrate… What a volatile market!
The Panamaxes and their respective index, the BPI, closed down 8 points from yesterday at 1, 112 whilst last week it was at 1, 113, so that’s just one point up…
The BSI was at 1, 209 up 4 since yesterday and up 26 since last week’s 1, 183 points.
The BHSI was up 3 points since yesterday at 674, again nothing spectacular…
The wets reversed their downfall and were up 12 points since yesterday at 711 for the BDTI and 32 plus since last week, but the cleans, the BCTI – 1 since yesterday at 612 but also down 64 since last week. Caution here too!
At the beginning of this report I have paraphrased the Virginia Woolf syndrome, where “Who’s Afraid of Virginia Woolf?” is a 1962 play by Edward Albee who examined the breakdown of the marriage of a middle-aged couple, Martha and George. Albee described the inspiration for the title thus, and as we have a bit of a breakdown of the shipping markets too for quite a time, don’t we….?? we should act with caution!:
Obviously, who’s afraid of Virginia Woolf means who’s afraid of the big bad wolf . . . who’s afraid of living life without false illusions. Let’s pretend we don’t have illusions for the Markets as the situ is more than serious!
On the shipping front, the FMC’s attitude with P3 was much discussed issue last week.
The Crimea annexation will give a headache to the West and all about Mr. Putin’s behaviour was well known, sorry guys, no excuses… come on: you dead well knew what he was up to all these years….and what else is still to come… Who hasn’t read the signals. Sanctions and the lot at the end of the day harm only the popolo, end of the story. Creating lists of persona non grata for business et al is at best: too late babe, as there will be more tit-for tat. For Ukraine joining NATO, and the European Union, who can afford to finance debts? I mean strategic or economic ones! See the PIGS issue (again with all due respect), see the latest Budget here in the United Kingdom where it emerges that Austerity goes on for the foreseeable future.
Now, try to interpret this austerity down in Athens… Another scam there with the budgets, the Troika and the Greek debt – which doesn’t really exists, needless to say the Greek people who suffer right now and will further suffer, will revolt in an unprecedented way. Remember this.
We are referring here mostly on the shipping issues, so here we go: the Skaramanga Shipyards scandal saga continues, the biggest scandal the world has ever seen – and will one day see; the coming strike next week on passenger, ro/ro, coastal tonnage in Greece. When will all these mess end? The Touristic season is ante portas, come on! Come on and hold your breath: Still the Greek Administration, yet another one, is trying to create a team to organise the country’s shipping islands policy; shame! The Piraeus Port goes still through the dire straits and now there is more interest from other players, such as the Russian Railways… Very messy situations, and with the Damokles sword hanging upon the Greeks with the European and local elections, things can get sour… The worst of all is that there isn’t a reputable and worth to trust opposition in Greece!!!
The Malaysian airplane saga is a shame for our society and its time that the Press must stop reporting, with all due respect, all these nonsence. Along the lines there is an inconsistency of what really happened at the material time of the event. If one day we know the truth and we hear of vested interests, then we shouldn’t be complaining if one faction harmed out of this accident, retaliates. No one and for no reason has the right or any vested interest excuse to play with 239 families; expand the pyramid and see what you get.
The CMA 2014 was the perfect backdrop for a “Jobs & the future” breakout session for young people lead by Phil Parry, Chairman, Spinnaker Consulting and Roberto Giorgi, Honorary President, V Ships. Taking the stage they hosted a vibrant question and answer session where the next generation of shipping executives could find out as much as possible from these two knowledgeable experts in the maritime sector.
Will soon bring you the results from Capital Links 8th International Shipping Forum which took place yesterday in New York.
GASTECH, the major conference and exhibition event is coming up on the 24-27 March in Korea, the KINTEX 1 an event not to be missed. Do log on us (there is banner on the right hand side of the site’s front page) and see what the excellent programme and the exhibition has to offer.
Intermodal Asia 2014 is coming up 1-3 April at Shanghai’s World Export Centre; again an event not to be missed.
In Singapore too the Singapore Maritime Week 6-11 April is coming up, creating a great new era in the entire Far East.
The WISTA-Athens event was more than a great event and we look forward on Monday for the Greek Shipping Hall of Fame event, The London Event at the Park Lane Hotel.
Wishing you a happy weekend and be on guard for the multiple of developments surrounding our world and conversely our industry, Shipping, the most important industry of all! Do watch the video herebelow and send us your comments: