The Shipping Markets were on a positive plus just after launch time earlier on today, but the world is on fire given the latest atrocities in France and a messy situation developing as you read these lines in Turkey; John Faraclas’ weekly report:
The BDI (Baltic Dry Index) closed seven point up since yesterday at 745 and 42 points up since last week’s 703; a bit of good news although don’t jump to any conclusion as if you don’t see the BDI at 2, 000 points, nothing has in reality changed. We are still in a very bad market… It is a must to see the BDI at 2, 000 so then we can begin to discuss… (we are stressing this point so thee is no misunderstanding whatsoever).-
The Capers’ BCI 2014 gained only three points since yesterday reading 1, 023 and 17 respectively since last Friday’s 1, 006 points.
On… reflection, the Panamaxes’ BPI gained 21 since yesterday – now at 863 and a good 71 points since last week’s 792 points – the best steady performer so far; we shall see though how things evolve…
The Supras’ BSI was up seven points standing at 693 – up 46 points since last week’s 647 – another good performer given the circumstances.
The Handies’ BHSI gained only two points – now at 363, and nine since last Friday’s 354 points.
A slightly better dry market since the beginning of the month, but these are early days and due to the global recession you never ever know what’s next to expect. Uncertainty is still here and it will remain for at least one to two years… not to mention unsustainabilty1!
The Container shipping is still down and it remains to be seen the extent of the damage, despite boxhip trade is and will definitely be in demand!
The Wets now once again with mixed feelings; the last published BDTI and BCTI clocked 620 (minus eight) and 435 (plus two) points respectively. On a weekly basis though both were down 49 points (from 669) and 437 down two since last week. Caution!
The Price of WTI gained a dollar since last week’s US$ 45.12 now reads US$ 46.28!
In the Geopolitical front now:
Mrs. Theresa May, the United Kingdom’s prime minister continues to build up her team and early in the morning she surprised all with her visit in Scotland. Until now she show ultra-cautious attitude in tackling issues and we hope she will go through successfully for the benefit of the entire United Kingdom! The BREXIT issue and whatever this entails will take considerable time to enfold. The behaviour of many European Union politicians against the British to begin the “divorce” process withthe Europe Union, is despicable… – you dead well know what I mean!
In France, following the despicable atrocities last night, the emergency measures will be extended for another three months and it is about time president Hollande gets his act together and smashes the perpetrators of this inhumane action particular on Frances Independence Day.
In Turkey a military function is attempting to destabilise Turkey by trying to stage a Coup. We will know tomorrow what is happening, but it look to us that same doesn’t have the support of the majority of the Armed Forces and that of the Turkish public. Caution, ultra caution is advised from this side. Turkey has been lately a problematic country and unstable, hence the USA’s notice a few months ago of events – terrorist or otherwise to happen… The big question is what was the role of president Erdogan himself in this coup. Nero burned Rome accusing the Christian so as to enhance his power… A very amateurish coup suggesting other things behind same; history one day will reveal the truth. Tourism will be affected in the region – Turkey, Greece, Bulgaria, and other countries in he region, particularly Maritime Tourism – Cruise ships etc…The USA, Ru ssia, the EU, China and others want a stable Turkey, but… If Turkey is unstable, NATO must short this out; end of the story! Tourism will be affected in the region – Turkey, Greece, Bulgaria, and other countries, particularly Maritime Tourism – Cruise ships etc…
In neighbouring Greece the sitaution remains the same. A GREXIT will be the most ideal things to get rid of the Brussels pathetic policy and German destructive practices… Time wil tell…
Wonder when we are going to smash ISIS!!!!!! We will keep remind the world on this issue.
The Chinese have to accept the result for the South China Sea verdict with the islets there with Philippines and others if they believe in the rule of international law!
On a good tone now, we all had a great time at the IUA’s (International Underwriting Association) Annual Summer Party at the City Flogger in Mark Lane at the heart of the Square Mile!
In the USA the former House Speaker Newt Gingrich suggests testing all US Muslims in an attempt to verify if they believe in Sharia and demands deportation of those who do.
Have a nice weekend and be on guard.