John Faraclas
The entire Market – both Dry and Wet was down today and I guess you must be very affluent this time to avoid even more losses… Let’s see how many can sail through… Geopolitics in total mess affecting the entire shipping industy. John Faraclas’ midweek note:
The BDI (Baltic Dry Index) lost 76 points earlier on today with the Capes’ losses nearly double since yesterday…
The Capes’ BCI was down 213 points and now stand at 1,295. It might be the Brazilian dam damn saga but that’s a reality; you can’t help it! Obviously it comes at a very bad time as already the Dry markets were in an downwards mode…
The Panamaxes’ fall was less than yesterday; today the BPI lost 32 points (on Tuesday 29/1 the loss was 43 points) – everything counts as you dead well know… and now at 612 points it makes waves…
The Supras’ fall was 28 points with the BSI now standing at 498 points and the 500 points threshold is lost!
21 points was the loss for the Handies’ BHSI now reading 347 points.
A very bad day for all the Dry Market and wonder how valuations work these days, eh!!! The gap widens with that of the end of December 2013 and now stands at 1,526 points (2,247 – 721). Any objections?? That’s the harsh reality. Healthy, Sustainable and Safe BDI means 2,000 points plus one… then any of you can have his say!
The Wets “follow” suit; the last published BDTI (Dirties) and BCTI (Cleans) stood at 872 and 667 – minus two respectively – very much following both yesterday’s similar losses of three points….
So all in all the Markets are diving and they were in any event about to dive given the Geopolitical Chaos which only an Armageddon will sort out; and that’s definite! Shipping gradually as we have predicted and numerous times referred herein becomes Shipping for the very very very few; end of the story!
The WTI as of 23:00 GMT stood at US$54.23 CAUTION!!!!
The Geopolitics with too many twists and turns, turn Planet Ocean upside down…
Migrants – six die everyday trying to cross over. Come on make a Naval Blockade… Brexit – too many new issues surface and old scores, yes and old scores re-surface; we wish courage to Mrs. May and we warn the EU at the other side of the Channel not just to be flexible as in the absence of Rules on how one leaves the EU are NOT existing. They all got things for granted… Venezuela – sanctions, seizures and ships arrests and 20 (twenty) tons of Gold leave the country but not Maduro); Brazil with VELA in the spotlight following the dam’s damn accidents, Mexico with the victims following the explosion at oil pipeline in Tlahuelilpan ten days ago, , the entire EU – were the situ is at best chaotic, the Balkans, East Med and all that jazz with Turkey bullying everybody around… Greece trying to find its tempo – forget the momentum, forget to get its act together… Putin’s Russia with an aggressive agenda, Chinese wants in the Pacific including Taiwan… but also a slow down of the Chinese locomotive and president Trump trying to look as the best tamer…Africa in silent disarray… and in Australia police finds “jiggers” in stables… Oh well…
The late Achilleas Stergiou
On another note we regret to advise you that one of our alumni from AKSS, the internationally acclaimed college in Spetses, a fellow co-basket ball player and colleague in the shipping industry, the towering Achilleas Stergiou a world acclaimed shipping man begun his journey to eternity in the early hours of this morning…
Achilleas was the most down to earth shipping leader of his era! A very keen sailor circumventing his own seven seas, a great and talented musician, an artist and photography enthusiast, a humorous and lovely character… He will be greatly missed.
Have a nice evening and be on guard from actions emanating by Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean!
