As predicted in our yesterday’s recap the Markets are losing steam; the BDI (Baltic Dry Index) lost 15 points and now reads 1,573! Geopolitics worsens, despite the politicians efforts to hide the real situation; shame! John Faraclas’ midweek market recap:
The Capers remained stuck with the BCI at 3,202 points…
The Panamaxes down 34 points and the BPI now reads 1,592…
Minus one point for the Surpas’ BSI now at 1,129…
The Handies’ BHSI was the only survivor gaining three points and now stands at 690… Once again: you don’t have to be big to be beautiful!
The Wets with mixed feelings but generally stagnant too; the last published BDTI (Dirties) and BCTI (Cleans) were at 901 – plus two and 515 down five respectively.
The WTI continues to …upset the poor masses as it gained a bit and now stands at US$ 52.12 CAUTION.
The Geopolitical situation coupled with the enigmatic stock markets performance might become detrimental for all… The main issues remain the same, even a bit worse. Migrants, the mess in Syria and Iraq, the aftermath after Raqqua’s fall with a great number of terrorist fighters returning to the western societies and will cause hell to all making the security services ring the alarm bells… Turkey pestering its own citizens to satisfy its president’s aspirations and also continuing to pester all in the regions and beyond, Greece with its Herculian effort to survive. Spain with the Catalonian issue… BREXIT stirring up everything… The North Koreans playing silence… Chinas’ Xi rise causes concerns in Washington and many other issues sending shocking waves around…
On another tone, we had the opening of the two-day Fleet Transformation – Maritime Strategies conference organised by Fathom at the Millennium Gloucester in West London; a great event, a very timely event with whatever goes on with many shipping issues well organised by Alison Jarabo and her team and moderated by Craig Eason, the editorial director of Fathom Maritime Intelligence with 150 plus specialist delegates and excellent speakers from all over Planet Ocean!
Will revert with a full account.
Later on at the other end of London, in the City, Moore Stephens launched the OpCost 2017 at their Aldersgate headquarters. The event, one of the best of its kind, was introduced by Richard Greiner, partner, Shipping at Moore Stephens attracting 150 delegates.
Speakers included ` Stephen Gordon, managing director, Clarksons Research Services and Phil Parry, chairman at Spinnakers Global.
A vibrant Q&A followed and continued until late.
Have a nice evening and be on guard from any eventuality emanating from Piates and Terrorists wherever you are on Planet Ocean.