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The shipping markets: Volatility knocks…

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John Faraclas

John Faraclas

We have numerous times in our previous reports over the last three years stressed the fact that volatility is the worse factor on all counts in the shipping markets/indices, as well as the fact when one or two sizes within the Baltic indices move up or down with extreme volatility, as it happened this last week when the Capes in particular got nearly a 1, 000 points plus from the previous week, and Panamaxes had a bit of a good rise, then you know what you can expect if you are a pragmatic person….

The dry markets are still just 50  centum below the December 2013 closing; still a very disappointing market performance. The wets too are not doing well, as you can see and hear in our live report herebelow.

This is our thirty-first overview of the markets and geopolitics, today Friday the 15th of August  2014 the day the Greek Orthodox Church commemorates the Dormition of Virgin Mary and her resurrection before entering Heaven, the www.allaboutshipping.co.uk news with John Faraclas in Athens:

The BDI closed up 73 points since yesterday 14th of August 2014 at 1, 015 points which is plus 238 points since last week’s 777 points, going for the first time in the last months downward trend above the 1, 000 mark! This plus points is thanks to the capers.

  • The BCI close up 269 points since yesterday to 2, 151 points which is plus 985 points since last week’s 1, 166 points, nearly 50 centum up showing the volatility at its best!
  • The BPI was up 64 points since yesterday at  803 which is 179 points up since last week’s 624 points; a more modest upturn…
  • The BSI was also up 16 points since yesterday at 877 which is 73 points up since last week’s 804 points; again another modest plus…
  • The BHSI  was up 6 points since yesterday at 382 points which is 19 points plus since last week’s 363 points, proving that these last two indices pay the burden to the benefit of the BCI and BPI…

So overall, a plus market, a market for hope for the lot, a market of caution still for us!

The wets were both down since their last closing; the BDTI stood at 748 which is 163 points down since last week’s 811 points and the BCTI was also down three points at 549 which is also down three points since last week’s 552 points. A continuous drop… Caution once again for the wets.

The Container trade was also on a downward trend, particularly the Asia – Europe trade….

The World Stage now:

  • Ukraine: the mess as we said last week, continues to be worse and it will get uncontrollable soon! Nobody trusts no one there and reports of violations form both sides fly around…
  • The Middle East,  and in particular the Arab-Israeli conflict continues to be one of humanity’s worse cases and diplomats, as we said last week, must go home. Ceasefire is a very difficult thing now and war is on the cards, thanks to the narrow-minded sides… Silly people from all sides, not just the warring ones! Iraq too is getting from worse to worse, the Islamic State is getting “serious”  there and in Syria and the Iraqi Kurds are in the spotlight again, strangely enough, are going to be armed. How Erdogan and his generals in Ankara can deal with this? Things will change; it was about time…one way or another…
  • Libya continues to be messy… be careful there… 
  • The Far East still is on a make/break situation; again caution for the entire area, as vested interests are at stake. In Japan, two cabinet ministers visited the Yasukuni shrine, angering neighbours South Korea and China. Prime Minister Abe, abstained… but sent his ritual offerings…
  • Africa with the Ebola deadly virus is going to bother us for quite a time…
  • Europe continues to be in a messy too… As we said last week: trying to get its act together…. Too many issues at stake here. Who’s in command? In Greece things might get sour unless those who embezzled the money and their local and international protégés are name and shamed. The scam is now well documented… Time please…
  • The seventh tip for your summer vacation: Portugal’s Porto, for those combining a bit of Med and Atlantic extravaganza with excellent food and spirits….
  • The WISTA event in Cyprus is underway for its 7-10 October AGM and do log on here to see the latest on speakers, panellists and subjects
  • The Athens Exchange 9th Annual Road Show in London at Bloomberg’ s on the 18 and 19th of September will trigger the interest of the masses and the world’s media; a great event! Let us remind you all, that particularly in Greece development will come only via the Athens Exchange; remember this!
  • Talking about Greece, there is a lot to be done in the country’s coastal services with contradictory reports that come out today in the press…
  • Capital Link’s September events in New York and London – 17 September is the 6th Annual Capital Link event on Global Commodities, Energy and Freight Forum at the Metropolitan Club, New York and the 7th Annual  Capital Link Event on 23 September on Shipping, Marine Service and Offshore at the One Moorgate Place, at the City of London; these events are the talk of the markets;  log on here …and see you there.

Wishing you a nice long weekend and continue to enjoy the summer holidays wherever you are!

Finally, after the prospective Nicaraguan Canal and that of Colombia as well as the one Mr. Erdogan thinks for his Kanal Istanbul, President Sisi of Egypt announce a new improvement in the Suez Canal which will also “ jeopardise” the trade as well as the indices…

You can log on  herebelow to see the live video:

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