The BDI (Baltic Dry Index) close earlier on this afternoon at 699 points – up five since yesterday, thanks to the Panamaxes, which “countered” to the second consecutive major fall of the volatile Capers. John Faraclas’ daily market and Geopolitics briefing:
The Capers lost 11 points and now the BCI 2014 stands just above the 1, 000 points threshold at 1, 008. The Panamaxes were plus 24 points with the BPI reading 779!
The Supras gained five points – now standing at 644 and the Handies’ BHSI at 352 – up three points!
Still a very low market and despite being 509 points above the all times rock bottom of 290 back in February, as have numerous times explicitly stressed: we must see the “glorious” 2, 000 to feel safe, and only that!
The Boxships are improving a bit and it remains to be seen the new consolidation schemes! Consolidation a must!
The Wets were on a slightly downfall. The last published BDTI and BCTI were one and nine points down respectively at 672 and 439; caution!
The price of WTI dropped too and now stands at US$ 45 and bit… That’s for some good for others very bad news…
In the ship finance front, Deutsche bank is in tatters with nearly 1 billion worth of very bad loans! Under which proviso these loans were given and what was the written advise and projections the bank’s officers received from the analysts? Who will pay the damage, eh!
Meantime many listed companies are having troubles; caution.
Demolition should accelerate if we wish to see a bit of a change. 25 centum of the current world fleet must end up beached! Once again we remind you that this is the best ever buyers’ market in known shipping history to acquire ships and build new ones!
The Geopolitics, following the last massacre in Bagdad, are entering now another phase, given the BREXIT effects too. People haven’t realised what is going on! When they land to reality it might be a bit late, particularly for the Continental side… Sadly, , today is also the anniversary of 7/7 which devasted London!
The Conservative party’s second round voting today, involving MP’s had, as expected, a clear winner: Theresa May. It remains to be seen what the Conservative Party members will vote on the 9th of September, just after the summer holidays; no.10 Downing street will have the second woman in its history as prime minister. We are once again living in interesting times.
The BREXIT trimmers have gone and I guess they have to pause before anything further. The best thing to do is abandon politics all together! Putin is calculating everything looking for benefits out of this fall-out!
The MIGRANTS issue continues.
The ISIS must be destroyed as soon as possible. This is what I overheard today on three different occasions!
Mrs. Clinton feels now more relaxed to take on Donald Trump… but THE emails will haunt her!
In Greece, things are about to get sour with incalculable repercussions for all; Europe will follow! In the meantime the shipyards issue gets to the fore. Troubles with Elefsis Shipyards add to those at Skaramanga. Shame, shame, shame!
The Brazilian Congress speaker resigns. This and other effects in Brazil hope they don’t cause trouble in the forthcoming Rio Olympic Games!
A great event organised by Lloyd’s Register on “Autonomous ships – how?” by Luis Benito and a short presentation by Katherine Palmer on the MRV and other important environmental issues at the Screen Room, The Mondrian Hotel (former Sea Containers) on river Thames; see for this event tomorrow!
The Seahorse Club in London held its annual Summer Party; a great event not just for networking, but for a recap of what happened last year and the BREXIT!
Have a good rest and be on guard. The collapse is very near!