With plus four points the BDI ended its day at 610, thanks once again to the volatile Capers; John Faraclas’ daily market recap:
- The BCI 2014 gained 53 points and now stands at 973 extending the punters’ impulse! As we have many times written down: one size doesn’t constitute a market; end of the story.
- All other indices were down, both dry and wet:
- The BPI – Panamaxes, was down two points now standing at 540; the Supras’ BSI down three at 564 and the Handies’ BHSI down six at 338; A very bad market!
- The Wets too in similar mood; the last published BDTI and BCTI lost 15 and two points respectively.
- The WTI as you read these lines stands at just above US$ 51 and we advise CAUTION!
In Geopolitics now:
The bad news continue to be the Migrants whose numbers have risen in Greece despite all that flashy events during the last two months. Unfortunately many Migrants have list their lives, not only approaching Greece, but Italy too… It is a must to pass by from the old Athens side Airport (ex Olympic Airways terminal and see how this regime’s current government and Europe have been defeated. What a shame to see these despicable views! S H A M E !!!!
The good news now: as we have predicted long ago in writing, Hillary Clinton won the Nomination of the Democrats to run against Donald Trump for the race to enter the White House! I was saying this last night at the WISTA-Hellas Posidonia event, and here you go! Hillary all the way!
Turkey continues to hassle its neighbours, Greece and Cyprus in particular, as has always done and it remains to be seen how tactical is NOT to play with fire.
Putin would love to see a BREXIT, not to say a GREXIT too!
Despite what you read above, despite what you heard or listened during four Conferences during Posidonia – and one before (that of EEDE’s), be tough, and nicley aggressive: Go on and order news ships, state of the art ships and become a “monster”. A monster if it doesn’t eat a monster, never becomes a monster (In Greek: Θεριό αν δεν φάει θεριό, θεριό ΔΕΝ γίνεται)! So, what about overcapacity, so what about companies going bust, so what if banks go under, so what if the stock markets collapse, exercise the options that suit you best!
Posidonia continue their success and more and more visitors, as well as business people visit the World’s Premier Shipping event off the Athens Airport. Let us hope we see the event back in Piraeus as the Mayor of Piraeus stressed in the pre-Posidonia Conference kick-start!
An update will follow latter on tonight. Enjoy your stay in Greece, capitulate the Posidonia effect and have a great evening!