Collapsed shipping markets with the BDI at 559 points!

John Faraclas

Our sixth  weekly recapitulation of the markets, their respective main indices and world geopolitics affecting same in 2015, tonight Friday the 6th of February, with John Faraclas of AllAboutShipping in London. 

After the latest Midweek Blues, the BDI closed earlier this afternoon at 559 points, down 5 from yesterday and down 49 points since last week’s 608 points, the second lowest ever recorded since the 6^th of August 1986!  A detrimental market for the 90 centum of shipping entities!

• The BCI closed up 9 points at 689 points which is also 10 points up since last week’s 46 points at 679 points! It was the size which “raised the stakes”…
• The BPI was up 2 points at 430 but 78 points down since last week’s 508 points!  
• The BSI was down 8 points at 530 which is 35 points down since last week’s 585 points!
• The BHSI was down also 8 points at 301 which is 79 points down since last weeks 380 points! 

So, a mixed picture in the dry markets which, as said in the beginning, have reached zero point! More CAUTION! CAUTION!  CAUTION!

• On the wets now, the latest published BDTI was 922 points, up 12 sine its last reported figure and up 54 points since last week’s 868 points. The BCTI though was down 10 points at 643 points which is 38 points down since last week’s 681 points.

• The price of oil “recovered” at region US$ 50 plus… and things are still questionable…

The Liner trade continues to struggle!

The Geopolitical front continues, still, to be as per our predictions with: 

• The UKRAINIAN saga witnesses an escalation as the Russian rebels in Eastern Ukraine will not back off. European leaders are trying to explain to Mr. Putin that this will lead to a wider conflagration! We have warned you from the first stages on this issue!
• Europe continues to struggle in finding a solution for the Greek problem which others have set up to destroy Greece, this is obvious, but it seems the shit will also hit the fan in Germany to begin with… others will follow too. Being under duress, and we all know this in shipping very well how it works and how to feel under duress, is one thing… knowing the end result yet another. For those who wish to victimise Greece, they better see the skeletons in their own cupboard; fairs fair Mrs Merkel, Mr.Schaeuble et al…  The US is stepping in too, as a messy Europe with Greece being victimised, seems to me it is not pleasing the American vested interests in Europe and the Middle East! Having said all the above the newly formed Greek coalition government must get its act together and stop mickey-moussing about and putting its entire 11 million Greeks in danger; equally the previous coalition should speak up as it is them to blame at the first place.. The Greek people have a dignity, and I am sure they strengthen their unity to defend the western civilization values which they have first introduced!
• The Middle East continues to get messier: ISIS creates havoc, the behaviour of its leaders and the inhumane executions will lead one way or another in the entire world to attack them in all fronts with excess force! After this, human rights organisations have to shut up; you dead well know what I mean… Those though who are selling arms to ISIS, must be forthwith punished…Mr. Obama, your services know who they are, smash them! Humiliate them in public!  We need a united front and guts to end this despicable mess. Political will and in particular from the US, Russia and the EU is a must here and now.
• The BCA Afrimari event last Wednesday at Stephenson Howard auditorium was a great success which also included security issues and in particular the issue of Piracy was raised. Coincidentally that same day the Greek owned vessel “Kalamos” was attacked, with the Chief Officer, a Greek national being killed… I guess we had enough…If reprisals happen, then I will tell you what’s going to happen. We need to end this piracy mess!
• The 6^th Annual Capital Link event The Greek Shipping Forum is coming up in Athens on the 24^th of February, still time to book and the 7^th Mare Forum Indonesia 2015 in Jakarta, “Building a Maritime Power – Transformation to a Maritime Nation; Looking ahead on the 10^th of February will also draw the international attention!
• Check the interesting London Shipping Law Centre Events.
• Log on to see our many conferences and events in our UPCOMING Events box!
• Tomorrow this time we will all be at the London Hilton in Park Lane to honour the 20^th Anniversary Dinner and Dance of the Hellenic Engineers Society of Great Britain !
• You can view our live reporting video herebelow; have a nice weekend!