John Faraclas
The BDI (Baltic Dry Index) gained another 29 points since yesterday thanks mainly to the Capers and to a leaser extend to all the other dry indices. Geopolitics still very perplexed. John Faraclas’ market briefing:
The Capers gained another 100 points – to be precise 99 points and now the BCI reads 3,079 surpassing the 3,000-point mark!
The Panamaxes gained just 14 points with the BPI now standing at 1,651 points.
Double-digit plus for the Supras’ BSI – now at 1,094 points – plus 12!
The Handies’ BHSI up seven points at 663 concludes a rising but still enigmatic Dry market; food for thought for the Marine Money Athens forum this morning!
So all in all an improved Dry Market but still 695 points below the 31st of December 2013 level of 2,247 points!
Need to concentrate on the box trade as containerisation has a future, but who will and who has the guts for the mega leap forward…
The Wets once again driving everybody mad with a complete two-way situ; the last published BDTI (Dirties) and BCTI (Cleans) stood at 913 – plus ten and 551 – minus 12 points respectively! These Wets and their oxymoron standings were also discussed at Marine Money’s forum afternoon coffee break …
Shipping, unfortunately for the hoi polloi, is being transformed to become shipping for the very very very few. Wonder how many have got the message… Wonder how many continue to throw good money after bad. Wonder how many shipping financiers understand the impact of Geopolitics and Intermodalism in this new millennium and conversely the changing pattern of ownership and management of shipping. Wonder how many are aware of the impact environment and new regulations has…
The WTI just over US$ 52… CAUTION, this is bad news in a downwards heading world economy!
The Geopolitical situation remains the same with all issues still there; MIGRANTS, The Wars in Syria and Iraq, with the exceptional good news that Raqqa has fallen and the ISIS Islamist Terrorists are now in tatters, are here to stay as Kurds and all their neighbours are at loggerheads…
Turkey continues its messy aggressive policy upsetting all in the region and that can have repercussions! The Kurds once again are being left at the mercy of the wolves, but life has nasty twists and turns…
Greece must change here and now as with the current government and populist parties, development cannot happen overnight. Caution.
BREXIT becomes the issue of the century! Expect messy encounters, as the propaganda war to “remain” becomes scary… The demagogues are out and about…There would be tough times ahead but at the end of the day the United Kingdom with the current political and economic structure in the Continent will be better off to stay away… As things move, it is evident that there will be a Union of the English speaking world!! Meantime the head of MI5 warns of increased terrorism in the UK and that is becoming very serious.
In Germany, Wolfgang Schäuble becomes officially president of the Bundestag! What does this mean for Germany and the European Union?
Clashes in Ukraine with demonstrators; can Poroshenko make it or he will quit? He faces to many issues and his former friends are also attacking him. Corruption will floor him down and his government as reforms remain on the selves… The Russians are the dominant power in the entire region and he fails to understand this…
In Malta, the son of an investigative journalist killed in a car bomb attack, has denounced what he called the country’s “mafia state”. Daphne Caruana Galizia died in an explosion shortly after she left her home. Known for her blog accusing top politicians of corruption she paid the prize of freedom and real democracy… A major issue in a small EU country. How far investigators can go?
In Africa now and former football star George Weah and Vice-President Joseph Boakai are headed for a run-off in Liberia‘s presidential election set for the 7th of November.
In Brazil, a federal court has confirmed that brothers Joesley and Wesley Batista, who are the controlling shareholders in Brazil’s largest meatpacking firm JBS, will face trial for alleged insider trading; an unending story of corruption continues in Brazil…
The Communist Party’s congress has begun in Beijing under tight security with Chinese president Xi Jinping addressing more than 2,000 faithful delegates. What’s the message? Can China continue its development and success story or its economic development becomes a bubble and burst to the detriment of all…
Japan‘s forthcoming elections might bring a major change…
At the other side of the Atlantic, banking giant Goldman Sachs has reported a fall in Q3 profits following a further fall in bond trading revenue. What does this mean for the USA’s economy?
Panel one being introduced by Kevin Oates with moderator George Lazaridis, Kalli Livanos, Stephanos Angelakos , Clinton Webb, Nikolaos Tiantafyllakis and Basil Sakellis. Picture credits Iris Liaskonis
On another tone, down town in Athens’ Hilton Hotel the 19th Marine Money Annual Greek Ship Finance Forum was attended by over 500 delegates. The timing was unique given the major issues the world’s most important industry sector is facing in a recession which entered its 9th consecutive year. The Shipbuilding question remains the most crucial one as does the money-honey pot issue. Where from can you raise money to fund ships? Are we at a total recall point? Who will survive? How many understand that things have changed? What crisis; wither crisis! Iris Liaskonis was there and we will revert shortly with a full write-up. We are sure that the Cocktail Closing Reception and Capital’s Party gave the chance for all to more intense talks. Watch this space!
That’s all for tonight; have a nice evening and be on guard wherever you are from dangers emanating from Pirates and Terrorists!
