John Faraclas
The BDI (Baltic Dry Index) was on a falling mode – down 12 points since yesterday and now stands at 968 points; the Geopolitics continue to build up a warring atmosphere despite what the mass media and its cronies say. John Faraclas’ midweek recap:
The Capers were down 15 points with the BCI now standing at 1,206 points – it might take quite a time for this size to get to its feet…
The Panamaxes were also on a falling mode – down 33 with the BPI now reading 1,192 points.
A single digit fall for the Supras’ BSI – down six standing now at 807 points.
Still stuck since last Friday at 500 points, the Handies’s BHSI looks “safe” for the time being…
So we are witnessing a falling Dry Market, high and dry as we have said numerous times… CAUTION!
The Wets once again with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 646 – minus three, and 556 – plus seven, the only …green colour in the respective report…
The Containerships whether they are liner ones, or trump or fixed to liner companies or whatever all need a brave cash injection and indeed a super consolidation – if the world economy was good and buoyant per our shipping terminology, then no problem. You see, this is the type of ship that gets affected as mainly transports consumer goods and right now 90 centum of consumers’ accounts (credit cards, simple accounts) are in red all over Planet Ocean! We have explicit mentioned this despicable financial situation yesterday; the debts run in trillions dollars…a pan-global pandemic so to speak. Wonder the Economists and all these Budget makers what sort of Uni degree they hold, or have they become servants and accomplices of the sinners – I mean the politicians. In Italy, one out of five – twenty centum of the population is beyond the poverty level; Italy is a G7 nation! You can imagine others…
The Shipbuilding Industry as we said yesterday, continues to be in a mess…
Whatever happened to the Demo…?
The Banking industry in unprecedented mess – I am talking about high street banks, consumer banks. You don’t need to have the names here, just go through the news and see them there… so you get the message directly. Don’t turn a blind eye… Stress tests and all that Jazz, Basel I, II, III..
Don’t ask about Shipfinance – we have exhausted the subject yesterday and nearly once a week…
The WTI went up quite …a bit today and as you read these lines it stands at US$ 48,76. CAUTION….
On the Geopolitical front, as we have as always stressed, things are getting sour with the MIGRANTS still on the very top of all issues put together all over the place – from Europe down to Australia as you verify reading further down this report…
More specifically we learn that the European Union’s top court has ruled that a new law applies even in exceptional circumstances which requires the MIGRANTS to seek asylum in the first country they reach! The way Germany changed the Dublin regulation is the one causing the problems with nearly two million MIGRANTS being affected; mess mess mess!
In Syria and Iraq the Wars with ISIS and others continue in a terrible and perplexed way, a terrible melle and wonder what next. In the meantime an ECJ ruling still maintains that Hamas remains in the 28 states’ terror blacklist! Expect further destabilization of the entire region and beyond. Too many religious vested interests, too many geopolitical energy vested interests – be ultra-cautious in your trading and commercial patterns and commitments!
Turkey’s relentless pestering and interference in the region and beyond will backfire and even its supporters will slash the Turks one way or another, particularly if president Erdogan continues his stick and carrot blackmail politics. It seems Turkey will follow former Yugoslavia’s fate…
Russia’s role in the region must not be under-estimated and its “support” to Turkey is not a new thing; Soviets supported for example the Turks under Kemal Ataturk against the Greeks for the pure reason of who will control the Straits of the Dardanelles! This is the entire reason of yet another twist of the famous Eastern Problem; end of the story! Lenin was afraid of the Greeks!
We are sure you all read Wolfgang Schäuble’s statement that with the current behaviour Turks is going to spoil centuries old friendship with the Germans obviously siting both nations animosity against the Greeks…
The time to saw zero tolerance for both the Germans and the Turks has come and it is about time president Trump steps in as America’s and NATO’s interests might be harmed with Turkey’s policy of blackmail and deceit…
Greece next door is also in trouble with third level populist politicians who have sold their soul to Greece’s crook lenders. PM Tsipras said that high taxation is pushed and imposed by Greece’s lenders… He has all the powers to stop this, but obviously he will lose his appointment… Expect a messy outcome in Greece. The bonds issuance come to us here at the wrong time… Testing sovereign debt markets after three years is one thing, increasing Greece’s obligations and making Greeks poorer yet another… There is lately also a lot of accusations and contra-accusations between the PM and his entire government cronies against Yiani (with one “n”) Varoufakis, former Greek Finance minister until his resignation two years ago… for the handling of the economy; PM Tsipras admitted picking up the wrong people…Resign Mr. Tsipras here and now… Both sides are to blame; a both to blame collision as we say in Marine Insurance. I wonder one day when all these conspirators seat in the dock… for harming the Greek and European taxpayer!!!! The opposition continues also a populist policy and all these promises are just for the voters; can they deliver? Eh! Fancy a live TV debate Mr. Kyriakos Mitsotakis?
In France the devastating wildfires continue in an area where during the summer its population triples with holidaymakers; the fires near Bormes-les-Mimosas, in the country’s Provence-Alpes-Côte d’Azur region has never ever been witnessed before. An area, a more than a beautiful region we covered in late March and we are so sorry to see this happening. France has asked the support of the EU!
BREXIT continues and everybody worldwide is concerned what will be the end result of a process taking place in uncharted waters. Who’s to blame? The Lawmakers of Brussels. If you don’t like a situation you simply get out and there must be rules and provisions and not just a time set for creating more mess. Both sides have to protect the workforce in both sides of the British Channel. There has been a slowdown in the British economy and Chancellor Philip Hammond must focus and restore productivity. The Construction industry is one thing that will boost the internal economy and create more jobs… Externally things are different and the forthcoming USA-UK trade deal will be a success!
It will be difficult for Europe and equally for the United Kingdom; the EU with Mario Draghi’s promised during the London Olympics to do whatever it takes to save the Euro and Britain needs per mare per terra a long term economic development and export plan or else. – Only hard work can guarantee Britain’s success! For the Shipping industry were our mere interest stands, London will continue to call the shots.-
At the other side of the Atlantic president Trump finds it difficult to stop Obamacare and the Republicans suffered their second loss…
Meantime the president says that transgender people cannot serve in the USA’s forces; that will bring more trouble… and the costs the president says will be offseted!
All other issues – The Russian presidential election saga continues coupled with more sanctions against Russia which upset Europeans particularly the Germans…
Sanctions continuation in South America were the USA has sanctioned 13 Venezuelans… President Maduro’s days will soon be over one way or another…
In Africa, according to media sources, an outspoken member of South Africa’s ANC party, MP Makhosi Khoza, has been charged with ill-discipline for speaking out against President Jacob Zuma. She’s one of those hard liner critics… let’s see how she succeeds in the future…
In the Far East now; in Hong Kong there will be a mainland China Law applying for the new Guangzhou-Shenzhen-Hong Kong Express Rail Link… Opss…
In Australia now were according to the UNHCR Australia backtracked on refugee ‘understanding’, and let’s see how this will be rectified! Men from Iran, Afghanistan and Iraq are being held in centres on the Pacific nations of Nauru and Papua New Guinea… The Australian government defends its position by saying that this policy disrupts people smuggling and prevents deaths at sea…. Can this has a leg to stand?
Among other issues we urge Unionists to come down to their senses and not destroy with the populist politicians the private enterprises and respect the pensioners worldwide…
That’s all for tonight and be on guard for any eventuality from Pirates and Terrorists looming in the background all over Planet Ocean…
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*To ..paraphrase the Jose Feliciano song : “Listen to the falling rain” and see how its lyrics correlates with the falling Market… Cynical view, but true…
Uploaded 17:22 BST
Updated 22:18 BST
