Another day of falling indices, particularly for the dry markets; John Faraclas reports:
The BDI was down eight points today, “thanks” to the Capers’ BCI 2014 which lost another 48 points since yesterday sending shocking waves all over…
The Panamaxes though “saved” the day with a modest plus six points now clocking 617 points! We strongly believe that Panamaxes will save the day!
The Supras “managed” well too with a plus five-points (558). The Handies and its respective BHSI remained unchanged at 342!
So, once again, all in all a downwards dry sector… Add the box trades’ …blues and see what you make it!
The Wets where thank to the …Olympians Gods up; the last BDTI and BCTI gained four and one point respectively – 740 and 470… Still a very questionable market, as if the WTI goes up, then freight rates will, most likely dive… We shall see…
As you read these lines the WTI now stands at just above US$ 47 … Let’s see the final closing…
On the Geopolitical front, I guess, and I am sure you all pray for this, the loss of the Egypt Air’s MS804 flight is not a result of another terrorist’s intrusion, as this will open the Aeolian Winds with incalculable repercussions.
Sixty years old Binali Yildirim is Erdogan’s new confidant. Let’s see his contribution to regional peace and real service to his people. Turkey has been lately escalating provocations on all fronts and we will all welcome Yildirim’s pragmatic policy. Time will run out if he fraternises with Erdogan’s “visions”, as all in the region, will have no option but to appropriately defend their interests.
BREXIT continues to be the main issue not just in the United Kingdom, or Europe, but all over the world. This however is not of importance; the real thing is that the Brits are right: Europe becomes dysfunctional with the governance form Brussels and Germany at the Wheel whilst others (France, Italy…) trying to survive at the expense not only of the UK, but of Greece for Heaven’s; Shake – and others too! Watch it Mrs. Merkel!
GREXIT in reality is on; you might be surprised reading this, but that’s a fact now as over the last seven years the behaviour of Europe, the Brussels presidium and Germany’s despicable manners and ethics, has pushed Greece beyond poverty, whilst Germany’s skeletons have overcrowded its cap-boards; fairs fair! Expect nasty surprises… Inhumane actions against the Greeks, as history witnesses, had counter productive results on those trying to strangulate the Greek people.
As we are referring to Greece, its good news to read today that EBRD has signed a loan agreement with Energean Oil and Gas for the Prinos blocks off Kavalla in Northern Greece, the biggest so far, part of a US$ 200 mio! That’s good news!
South China Sea issues re-surface with Chinese jets intercepting USAF planes. It will be another Vietnam or Korea-style war and beyond with incalculable repercussions for the region’s stability. Twelve Nations can be directly involved putting at risk shipping’s sea lanes! Caution!
Modi’s BJP party is heading for a historic victory in Assam, India, one of five states electing new governments! Interesting, but Kashmir must be solved sooner or later, if peace is given a chance!
In the USA’s Presidential elections rallies, Trumps still makes waves, Hillary Clinton too; it is what policy they have in mind for the American people and the World at large. Business-wise Trump has seen improvements in his empire’s wealth…
Meantime the pre-Posidonia 2016 events are warming up. Greece, Planet Ocean’s Sea-wise Giant Nation flexes its muscles and the world listens! It is something Greeks are proud of!
Have a nice evening and be on guard, particularly form Terrorists and Pesters all around.
P.S. Ensure you capitulate in this great and unique Buyers’ shipping market!