Home » Capes “sink” the BDI at 1,395…

John Faraclas

The BDI (Baltic Dry Index) lost 33 points earlier on today and now stands at 1,395; Geopolitics still messy and IBIA’s Annual Convention makes waves. John Faraclas’ daily briefing:

The  volatile Capes’ BCI three-digit loss of 101 points bringing down this index at 2,296 points was the talk of the town… surpassing even Aegean Marine Petroleum’s filling for Chapter 11 news… As said in the past, one size cannot determine the markets nor create a market but the harsh reality is that the dry market is sinking…

The Panamaxes’ loss of three points was minimal and the BPI now stands at 1,528!

Still losses for the Supras; the BSI was down eight and now stands at 1,033 points

Mild losses for the Handies’ BHSI, now at 663 – minus two…

The gap widens; same is now 852 points down from end December 2013 when the BDI stood at 2,247  points!

The Wets once again with mixed feelings; last published BDTI (Dirties) and BCTI (Cleans) stood at 1,134 – minus nine and 583 – plus seven respectively… It’s still good to see the Dirties above the 1,000 points threshold!

The WTI continue to drop and as these lines are being written stands at US$ 62.21 with the projection to fall a bit further… We shall see as this is good news for the billions of poor people all over Planet Ocean!

Geopolitics are not on hold as many wish to spread due to the mid-term elections in the USA; we believe although it is …early days that President Trump’s Republicans will hold on the Senate; the House of Representatives though will be a tough cookie and the Democrats might win… as in our view from our local people on the ground, its women look fit for this! We shall see but we are confident for a historic win there be the DDW’s – Determined Democratic Women…  Nearly 40 centum of the Americans disapprove president Trump’s policies; 65 centum had decided long ago whom to vote for!!!

The Migrants though still maintain the number one place; Italy’s deputy PM Matteo Salvini, who is the leader of the right-wing anti-migrant league, will discuss in Ghana the repatriation of Migrants. On other incoming news the German press accuse the Greek authorities for the state of the Migrants in Lesvos and Samos Islands…  They better ask their leader Mrs. Merkel why she doesn’t stop them from coming over from the Anatolian Coast and create a Naval blockade. Is she afraid of the Turks, eh!!!! Enough… The German Press is better to see the skeletons in Germany’s cupboards!

The Wars in Syria and Iraq unfortunately continue; the entire zone, the fault line from Gib to Afghanistan and from the Caucuses to the Horn of Africa is on fire and will soon produce further despicable situations, influencing the shipping industry too. We want to see that all Planet Ocean’s dire straits remain open!

Turkey is pushing its luck by masterly continuing a blackmail policy!  Turkey bullies all its neighbours and stir-up the Balkans; CAUTION! CAUTION as from a  bankrupt state you can expect everything!

Greece next door “maintains” too many problems and it is not a matter of change; it is a matter to allow the Aristos to streamline the country for ten years and then call an election with the UK pattern… I mean electoral system. In its external affairs, Greece and its politicians of all parties MUST be very thoughtful is they are gown up people, otherwise they must leave forthwith… Expect developments in all fronts.

Cyprus too is on the eye of the Cyclone…

Italy and its politicians will become a big blow for Brussels… The Budget, The Italian Budget…

Still many twists and turns on the BREXIT front…

More Geopolitics tomorrow.

The World Travel Market ends tomorrow in London’s ExCel and I guess things look rosy for the United Kingdom and Europe in general with the Greeks gaining ground! Maritime Tourism too for all involved is on the up!

On another tone and note the IBIA events kick-started today in Scandic Kødbyen Hotel’s purpose designed auditoriums with a pre-convention training and workshop double event – the Bunker Training Course 2018 and the Workshop on Ethics.

At the Bunker Training Course four experts in their field – Nigel Draffin, Trevor Harrison, Charlotte Rojgaard and Patrick Holloway delivered, yes they delivered extra knowledge to all participants who actually exceeded the planned number of attendees proving the importance of the issues as well as the practical knowledge of the four mentors above. Timing too of the many coming changes was also another good factor for attending this training course

Practical experience is what counts and same was evident with our first master, Nigel Draffin whom I have known for years was unique once again on all four sessions he spoke and with interesting tests empowered / boosted the event. Technical issues and operational performance from somebody who had a great career on board and ashore

Another friend of the past Trevor Harrison, a Maritime Arbitrator and Mediator known to me from the LSLC (London Shipping Law Centre) was brief and to the point on legalities; excellent.

Charlotte Røjgaard

Then come one of the most powerful women in our industry; Charlotte Røjgaard. She addressed the key challenge facing shipping today in her presentation, ‘Preparing for 2020’. Charlotte is the Global Technical Manager for Verifuel, the Bureau Veritas marine fuel services company, specialized in fuel testing and analysis. Her advice has been much sought after as the industry prepares for the introduction of the global sulphur cap in 2020.

In her presentation  she clearly demonstrated her expertise and mastery of the subject matter. Charlotte regularly represents Bureau Veritas at conferences and key industry committees, including ISO 8217/TC 28/SC 4/WG 6 and CIMAC WG7 Fuels for which she is currently the secretary. Bravo!

Patrick Holloway

The final speaker Patrick Holloway a partner at Webber Wentzel in South Africa had the simplest and very well construed slides, very self-explanatory for the issues he put forward! Well done!

The Ethics Workshop was well presented by the very eloquent J. Stephen Simms principal at Simms Showers LLP  in Baltimore, Maryland in the USA. Ethics maintain the number one place in the Shipping Industry and in particular in Bunkering, in its entirety. I very much admired the way he divided the attendees in groups for discussing the issues.

J. Stephen Simms

On both events the handouts and specialist notes as well exercise papers for test where very informative. I am sure IBIA’s global head of marketing and events, Ms Sofia Konstantopoulou and her team MUST organise more such training events in all shipping capitals on Planet Ocean!

We very much enjoyed the Welcome Reception off Room 6 – IBIA’s powerhouse/room at Scandic! All in jovial mood and indeed it was the best time to unwind over excellent drinks – fantastic wines and interesting multi-national food! All five continents where duly represented and for me it was good to see many good old friends from the past and make new ones!!!!

Trevor Harrison with Nigel Draffin

I have to vote this welcome reception as one of the best ever networking reception of its kind during the last decade. Many Congratulations to IBIA’s Fab Ladies Team present: Shilpa Gondhia, Sofia Konstantopoulou, Tara Morjara, Semina Perperidou, Laura Robinson and Tahra Sergeant – the Tara with an H!  Brief to the point speeches by IBIA’s Chairman Michael Green as well that powerful note from Unni Einemo, IBIA’s Director and IMO Representative.

Uni Einemo and Michael Green

Having witnessed the previous day the finishing touches leading to today’s events I simply say once again: Congratulations Fab Ladies! Congratulations IBIA! We look forward to two more intense days very important for the entire industry; watch this space.

Have a nice evening and be on guard from actions emanating from Pirates, Terrorists and any Criminal whatsoever wherever you are on Planet Ocean!

IBIA’s FAB Ladies

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