Our fourth weekly recapitulation of the markets and world geopolitics affecting same in 2015, tonight Friday the 23rd of January, with John Faraclas of AllAboutShipping in London we stress the effects of the Greek elections in less than 48 hours, oil prices, the Davos effect a few geopolitical issues and of course terrorism.
• The BDI closed earlier this afternoon at 720 points, down 31 since yesterday and 20 points down since last week’s 740 points. As we stressed: unsustainability!
- The BCI closed down 78 points at 887 which is up 262 points since last week’s 620 after a short lived …rally… As mentioned: one index doesn’t constitute a market!
- The BPI was down 19 points at 685 points which is also 74 points down since last week’s 759 points!
- The BSI was down nine points at 650 points which is 66 points down since last week’s 716 points!
- The BHSI was down 12 points at 380 points which is 38 points down since last week’s 418 points.
So all dry indices where on a downturn…CAUTION!
- On the wets now, things followed the dry markets; the latest BDTI was 934 down 12 which is also 8 points down since last week’s 942 points. The BCTI was also down five points at 712 which is 32 points down since last week’s 744 points.-
- The price of oil at region US$ 45…will for sure test the markets, upwards but downwards too!
- Difficult times for financing ships when lenders do not have proper market assessments! Also they lack of shipping market knowledge! This has been spectacularly proven by the state of the market and the many bankruptcies…
The Geopolitical front continues to be as per our predictions with:
- The UKRAINIAN current situation, as we have predicted ever since the Crimea saga begun worsens every moment…Be on guard for shipping issues too; you never ever know…
- Europe with or without any Davos remains the same and more troubles are ahead. The QE and other issues are at stake…believe you me. The “politicians” have lost touch with the situation.
- The unnecessary Greek Elections this coming Sunday, in less than 48 hours will bring more tremors! The Greek politicians, alike diplomats, have lost reasoning creating an explosive situation. Add the influence from abroad, the same one which brought the hooligans of PASOK in power in 1981 and continued to support them until 2012, are doing the same now trying to have SYRIZA even with an unexpected overwhelming majority! Shame! Whatever the result, Greek political leaders, should immy meet on Monday and arrange for a “caretaking” government until further notice to run the nation, until things are streamlined, ship-shape as we say in our language. The rest is acts of treason! We have even mentioned these views which were aired back in 2012 in live interviews! Its also a time of Nemessis, punishment so to speak, for all those politicians who one way or another destroyed the greek people and some didn’t grasp the chance to reform to the full extent; instead they continue to favour a clientelle state! We wonder why to bother and vote all these lot when no one gave us a clear picture of Greece’s “debt”, I mean how much it was in 2009, 2012 and today and when same can be repaid. Equally we haven’t heard a proper plan for saving the Greek people. Academics et al do write “excellent” reports, but the middle man in the street doesn’t understand an iota. Pity !
- An interesting conference organised by Naftemoriki Newspaper in Athens yesterday might have address the importance of Shipping and let’s hope all party leaders got the message; the ball is in their court!
- The Saudi King Abdullah, the reformer, passed away at 90 and King Salman 78 says he will continue on the same path.
- The cold weather is an issue and hope things will calm down, unless the Met knows better and worsening weather conditions apply.
- The Middle East continues worse than last week and it will be worse this week too and for the foreseeable future unless a just solution takes place. Unless this is done, terrorism will flourish! We are very much concerned in the shipping industry, so, let’s see the value of money we pay to our diplomats, peacemakers et al… before it is too late.
- The Foresight Winter BBQ was great with Dr. Mehrotra and his devoted group making waves.
- Lloyd’s Register annual Vassilopitta event in honour of the Greek shipping fraternity in the UK was more than a success.
- The GSCC Vassilopitta last night was also another success, sending the appropriate message to multiple of recipients.
- Get geared for the Hellenic Engineers Society of Great Britain 20th Anniversary Dinner on the 7th of February at the London Hilton on Park Lane!
- Log on to see our many conferences and events in our UPCOMING Events box!
You can view our live reporting video herebelow ; have a nice weekend!