The BDI (Baltic Dry Index) gained 66 points earlier on and now reads 1,156; on a weekly basis same was up 79 points – from 1,077. That’s good news but… Geopolitics continue to be perplexed and we advise CAUTION as the economics are totally in a mess. John Faraclas’ daily and weekly recap:
The Capes, the most vulnerable and volatile size did it again; it is always “thanks” to the Capes that the Market moves up or down; today there was another triple-digit plus, 201 points with the BCI standing at 1,602 – up 207 points from last week’s 1,395 points…
The Panamaxes were up 32 points with the BPI reading 1,192 points – up five from last Friday’s 1,187 points!
The Supras’ BSI was down two points at 1,061 and on a weekly basis down ten from 1,071…
The Handies’ BHSI remained grounded at 583 points and down four points on a weekly basis – from 587 points…
All in all the BDI is minus 1,091 !!!! points from the December 2013 closing of 2,247 points – end of the story, add the fact that many raise their voices with respect the rise of the indices at the end of the month following a relentless downfall and some even express views of “manipulation” following FFA settlements… Time will tell and reality will shine, rest assured for this…
The Wets on a downward mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 754 – minus 14 points and 555 – same per yesterday points. On a weekly basis the Dirties lost 22 points – from 776 and the Cleans minus three from 558 points.
The WTI stood at US$ 67 with tendencies for a further drop…
The Geopolitical situation is slowly but steadily getting off-hand… To begin with, let’s see – following the BREXIT’s saga, others – such as the Italians opting too and possible others… to make it a bit difficult for Mrs. Merkel and a few of Germany’s supporters… All other issues that we cover – MIGRANTS, Middle East in its entirety, the Balkans, the EU mess, the financial global crisis, the Korean peninsula mess, Africa mess and South/Latin America economic chaos, remain the same – sliding even to anarchy style
On another tone and note the 2018 Posidonia receptions and parties continue and from Monday the 4th of May when the exhibition opens everything will be in full swing! The biggest show of Shipping on Planet Ocean for nearly 50 years is here and we all await its results given also the many conferences that take place!
After ABS’s event at Lagonissi Resort it was the turn of Lloyd’s Register with one of the most crowded events there surpassing any previous of its gatherings!
Theodossis Stamatellos and his Greek team staged one of the best ever Lloyd’s Register Posidonia Receptions we have ever witnessed. Over two brigades of guests gathered on this Friday evening honouring Lloyd’s Register and its people.
Besides the Greek guests from mainly Attica’s offices – Piraeus and Athens as well as from Thessaloniki and a few other Greek shipping centres, the London Greek Shipping Fraternity was there in full force – a real show of force and support! Alastair Marsh, Lloyd’s Register CEO, Nick Brown the director of Marine and Offshore as well as all at Lloyd’s Register have never seen such a support and turn-out ever before; this is our verdict!
Appropriate dips, drinks and excellent spirits – Greek wine in particular …raised the …spirits supported by the sea-breeze and once again by the Fortissimo quartet’s live performance. The two Marias, Kelly and Sylvia yet on another great day!
The London Greek Shipping Fraternity headed by HESGB president Dimitris Monioudis – accompanied by his ever present wife Camilla, Chandris’ Alex Xenakis, Andreas Papadakis and family, Costas Amarantides, director-general of the GSCC and his wife Tenia Koroneou as well as the Committees’ secretary Maria Sylignaki, Lyras’ Takis Markatos, shipbroker Nicholas Skinitis and his wife Pighi, Yianni Iakovides, members from the Tsakos’ London office, Dr. Aleka Mandaraka – Sheppard founding director of the LSLC (London Shipping Law Centre), George J. Margaronis from Helikon Shipping, Antonis Virgiotis – now at Cass Business School, Lilian Evgenides from Teekay – escorted by her brothers Dimitris, now based in Dubai and George now in Greece with Optima, and many many others… including some Brexitiers… were as said in full force!
Good to see also some of the former EMEA heads, Apo Poulovassilis, Vassilis Papageorgiou – now vice-chairman at Tsakos Group, retired John Demetracopoulos and others including also long serving Kika Lazaridi!
Will revert with more on this on the first update just before midnight; in the meantime be on guard from every eventuality emanating from Pirates, Terrorists and Criminals of any kind looming in the background wherever you are on Planet Ocean!