John Faraclas
This is the twenty-first overview of the shipping markets and world events by John Faraclas from www.allaboutshipping.co.uk in Athens, the 6th of June 2014, the last day of the successful 2014 Posidonia:
The BDI closed up 12 points since yesterday the 5th of June at 989 points, which is 55 points up since last week’s 934 points – still below the 1, 000 point mark! Overall this is 1, 269 points down from December’s 2013 last closing, a 56.8 centum drop! We have to remind you these figures and percentages so you can see where really the market stands! There has been a lot of talk on the markets at the many Posidonia receptions… All interested parties are looking for funds from the …funds…et al! Great conferences took place about the state and future of all sectors of the shipping markets and it remains to be seen what will happen; who is right and who is wrong and its time to tell, but we warn all to be on guard and the analysts and gurus of shipping to stay put and stop destroying the market further. On the antipode of all these happenings, this is a good market to buy second hand tonnage and or built new ships! New methods of propulsion too are on the cards and new fuels too; interesting times!
It was the Panamaxes the previous weeks keeping the “pace” but that evaporated and the Cape size tonnage continued this week too with a further rise.
- The BCI, closed up 104 points since yesterday at 1, 793 points which is up another 398 points since last week’s 1, 395…
- The BPI was down 31 points since yesterday at 727 points which is 145 points down since last weeks 872 points – still under the 1, 000 barrier…
- The BSI down nine points at 802 points which is 28 points down since last week’s 836 points… down 30 points since last again still under the 1, 000 points mark/barrier…
- The BHSI at 485 points just 5 up since last week’s 485 points…far below the 1, 000 points mark…
- As for the wet? Same more or less situation alike last week….
Petro Poroshenko met Vladimir Putin in France. Let’s see if they can make peace… Russia and Ukraine have a lot to be united for, but a lot to be divided too!
D-Day celebrations for the 70th anniversary makes President Hollande call for vision and courage. We suggest above all a constitution to really united Europe and safely go ahead. Otherwise expect a mess here too. The austerity et al bites…
The Far East still in turmoil and caution too is suggested for the subcontinent. China and all the countries in the South China Sea are at loggerheads; caution! What will the USA do given also the US$ 145 billion on defence spending by China?
Retired Admiral John Theophanides passed away at 67, very suddenly; our sincere condolences for a great man, friend, supporter and contributor of this site…
Posidonia 2014 was more than a great event and you can read a lot about it in the site. Above all, the presence of so many international exhibitors, as well as visitors, shows the respect, support and superior position of Greece’s number one industry: shipping!
For the above and other events, you can also listen to the video herebelow; have a nice long weekend:
