John Faraclas
The BDI (Baltic Dry Index) couldn’t continue its yesterday’s rise and today’s gains were almost halved. The Geopolitics remain messy and only Ares (Mars) can sort all this mess in his usual way; so should we say: let it be? John Faraclas’ daily recap:
The BDI gained 17 points – below than half from what it gained yesterday (43) and still is 1,030 points below the end of December 2013 level (2,247 minus 1,217) – four years…
The Capers’ BCI which led the rise yesterday today managed to gain half of the 151 points – 76 was today’s gains and now stands at 1,752 points…
The Panamaxes’ BPI also had the same luck – gained 53 points yesterday, same was 25 today and now reads 1,481 points.
The fall, a small though, continued for the Supras and the Handies; the BSI lost four and the BHSI lost three respectively – 904 and 581!
The “pattern” we experience is that when either the Capers rise alone or the Capes and the Panamaxes rise together, the Supras and Handies fall… We have also mentioned numerous times that one or two size do not constitute a market…
Boxships are slightly better off but still a long way to go…
Demolitions still in low pace… need to see at least 1,000 vessels scrapped…
We strongly recommend for those capable to afford it to opt here and now for newbuildings; go for the ultra advanced ergonomical green-ships! This is the best market ever, a buyers market to all intents and purposes!
The Wets still with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 691 – minus three and 571 – plus two respectively…
The WTI, as these lines are being written stands at US$ 65.51 – a very worrying figure… CAUTION as we have explained yesterday as well as numerous times in the past the reasons why a high price could become detrimental not just for the consumers but for the producing nations and the major oil companies… Pricing and discipline in pricing of this commodity is paramount…Ultra Caution should be observed…
The Dow Jones hits 26,392!!!!!
The World Economic Forum in Davos is a Theatre of the Absurd revisited… Shame…
l to r: Capt. Hans Fillipson (The Swedish Club), Ian Clark (West of England), Joe Hughes (The American Club) , Lou Kollakis (Chartworld Shipping Corp), Maria Prevezanou (Evmar Marine Services), Dinos Caroussis (Chios Navigation), Mark Jackson (UK P&I Club), Francis Vrettos (Steamship Insurance), and Kjell-Ake Augustsson (Skuld) – picture credits Iris Liaskoni
On another tone, down town Akti Miaouli’s Piraeus Marine Club the 17th annual international P&I Conference – a full house at the Miltiadis A. Marinakis’ Hall, took place. Chaired by Lou Kollakis of Chartworld Shipping Corpotaion the event had five …issues to resolved in a very …British Parliamentary so to say way; the one was: “This House believes that there is no justification in either theory or practice for clubs to levy release calls on departing members”, the second: “This House believes that loss prevention is the most important function of the P&I clubs”; the third: “ This House believes that the IG should perform a greater role in the international representation of shipowners and the shipping industry”, the fourth one: “ This House believes that it is time for group clubs to revisit the issue of coverage for fines arising from the alleged deliberate discharge of only water”; the fifth: “ This House believes that some P&I Clubs are taking compliance and KYC procedures too far” and the last one: “This House believes that the implications of BREXIT on global shipping and sea trade may be positive/beneficial in the long term”.
Most of Planet Ocean’s P&I heavyweights were there as well as many other important stakeholders representing other sectors of the international shipping cluster… well done. We will revert with a full account on this very important debate in which we were duly represented by Iris Liaskoni…
Anny Zade, Dr. Evelyn Stefanaki and John Faraclas
Time to end the many festive celebrations and begin the New Year with something …outside the box with Nordic Drinks – another celebratory tone in the heart of London’s West End in the Icy Heddon Street’s ..ICEBAR LONDON! A very well though and meticulous organised joint event by the Norwegian, Finnish and Danish Chambers of Commerce. Excellent dips and drinks and a unique time in the Icy Bar!!! It was indeed on all counts a great evening out far from the madding crowd in Davos… were the snow was mild… Excellent!
Have a nice evening and be on guard for every eventuality emanating from Pirates and Terrorists looming in the background wherever you are on Planet Ocean!
