Home MarketsChartering Panamaxes couldn’t save the BDI; BREXIT melodrama continues and Planet Ocean is on fire

Panamaxes couldn’t save the BDI; BREXIT melodrama continues and Planet Ocean is on fire

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John Faraclas at HULT International Business School, London

Panamaxes couldn’t save the BDI; BREXIT melodrama continues and Planet Ocean is on fire… 

The BDI (Baltic Dry Index) lost three points earlier on today and now stands at 689. On a weekly basis same was down one point – from 690 on 22 March… Geopolitics turning sour for all and BREXIT’s melodrama continues. John Faraclas’ daily and weekly recap:

The Capes reached new lows with the BCI now standing at 150 – minus 17 points since yesterday and minus 101 since last week’s 251. Who knows what next; ultra-CAUTION should be observed!

The Panamaxes continued to surge and the 15 plus points was well received in the market. At 1,102 the BPI makes waves! On a weekly basis 75 points plus was manna from heaven – up from 1,027…

The Supras  on a falling mode since yesterday saw its BSI losing ten points and now reading 813. On a weekly basis the fall was 13 points – down from 826

The Handies’ BHSI lost three points and now stand at 464. On a weekly basis thought the BHSI was up nine points – from 455…

Once again the Wets with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 651 – minus 12 and 744 – plus 21 points respectively. On a weekly basis the Dirties were down 49 and the Cleans were up 94… What a strange market eh!

All in all the Dry Market is 1,558 points below from that in December 2013 when the BDI stood at 2,247 points. There is a long way to go; first step the 1,000 points, then the 1,500 and finally the 2,000 – but how!!! Even Lady Luck is “dead” against the Dry Market – see the Aussie and Brazilian saga; the train and the dam… Deep down my conscience none of these two count as all the indices are considerably down. Here, the maxim: “it’s the economy stupid”, plays a fundamental role…

We are as we have stressed in numerous reports/recaps and reminders – my ERR’s in a Recession – my fourth 4R’s with Planet Ocean debt at US$ 250 trillion so you can imagine that credit, credit crunch, I mean loans/finance are not available… Tough times ahead!! Shipping unfortunately becomes Shipping for the very very very few..

The WTI stood at US$ 60.13 (23:00GMT) up US$ 0.84 and US$ 1.24 since last week. CAUTION CAUTION CAUTION. It’s too high and my trigger unwanted situations…

The Geopolitics are getting more than sour. For the moment the MIGRANTS still remains the number one issue and then BREXIT –  that tonight brought traffic to a standstill from the Leavers outside Parliament demonstrating about the delay on leaving the EU! Mrs. Mays EU’s withdrawal agreement on the day the United Kingdom “leaves” the EU has been rejected by MPs by 344 votes to 286. 58 is a powerful margin, but…

Too many issues will surface, one even going for European Elections as UK has missed the 22nd of May date, a deadline set to leave with a deal! Can there be an alternative to satisfy those within the UK and those in the EU…

As we have also stressed there are expensive and cheap decisions and this one is an expensive decision leaving the EU… even to remain as things are turning to a deadlock… Those behind the “curtains” know of course why all this melee takes place: simply, someone is calling a fast one against the United Kingdom… We are certain in declaring this view!

Italy becomes the first G7 country to sign an agreement with China in the famous infamous Belt and Road Initiative which we vigorously oppose ! We have expressed our opposition from the initial announcement. For a start going through the STAN countries and others could prove more than dangerous and risky in the future. The Sea-lanes are the best! Italy is “projected” to zero growth for 2019!

Elsewhere all eyes are focused on Ukraine’s presidential elections to be held this Sunday the 31st of March.

Caution for the entire Middle East as Israelis are again fighting – with respective retaliations, the Hezbollah, Hamas and others following rockets being fired against Israeli cities, towns and villages. CAUTION for avoiding another conflagration… President Trump  has signed a proclamation recognising Israel’s control of the Golan Heights which Syria lost in the six-day 1967 war. It seems that this looks likely to be a gift to PM Netanyahu for the forthcoming parliamentary  elections. The Arab World are very upset; wether they reject or not the move it remains to be seen in practice. CAUTION”!

The East Med remains on alert as does the Aegean sea following despicable Turkish provocations… Turkish people go to vote in municipal elections this coming Monday– a test for president Erdogan and his ultra populist/nationalist and religious rule… His country is bankrupt; the Turkish Lira fell 5 (five) centum in a day as did the stock market losing 10 (ten) centum in a week…

Greece and Cyprus continue to be bullied by Turkey and it was good recently to see Israel, Cyprus and Greece in a tripartite  with USA’s Secretary of State Mike Pompeo present! An energy alliance at its best to counter to the Turkish threats!

Greece is having a double election this May; European Elections and Municipal ones. Wonder if a sharp election takes place too… You never ever know…

The Balkans’ sort and medium term future remain uncertain… CAUTION!

In the USA the Muller report might be published in mid April… In the meantime president Trump and his supporters claim vindication… Let’s see what comes up then… The North Korean saga continues…  Sanctions against China continue… Meantime the Obamacare might be scrapped very soon…

In Africa now. Caution as in Algeria things are getting sour with president Bouteflika not stepping down. One million people were marching in Algiers…

What a mess with Cyclone Idai that affected not only Mozambique but also neighbouring Malawi and Zimbabwe. In Mozambique confirmed cholera cases have gone up to 139; all of them in the Port of Beira!

And what do you make on Gambia’s ex president who stole US$ 362 mio during his 22 years in power? There is a report by Organised Crime and Corruption Reporting Project that he stole nearly US$ 1 billion! Don’t tell me “no one” new from the super powers and others about Yahia Jammeh wrong doings…

Did I hear you say Venezuela… Expect another mess there which will affect the region too.

In Asia now. India is having a General Election in April to May – a long period of voting… PM Norendra Modi looks certain to win…

Finally in Melbourne, Australia a man made salt lake at Westgate Park turned pink… Interesting!

On another tone and note we accepted an invitation  by Prof. Dr. Evangelos Markopoulos,  Professor of Management and Entrepreneurship  and Global Discipline Lead of Science and Technology,  to deliver a guest lecture on Management at HULT International Business School, London UG Campus, within the Square Mile. 

We delivered a speech in a very warm and family multi-national audience so to speak atmosphere emphasising Shipmanagement – Planet Ocean’s most important Management sector.

We bring you herebelow  a part of the speech and some live parts later on on the updates but we were more than pleased with the students interest and questions. We could have stayed there all night!!


Have a nice evening, enjoy the weekend  with Mother’s Day on Sunday, but continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean.


BCI   = Baltic Capesize Index
BPI   = Baltic Panamax Index
BSI   = Baltic Supramax Index
BHSI= Baltic Handysize Index
BDTI= Baltic Dirty Tanker Index
BCTI= Baltic Clean Tanker Index


Uploaded:  23:15 GMT

Updated:   23:58 GMT


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1 comment

Yannis Voudouris March 30, 2019 - 4:20 PM

Congratulations Mr Faraclas


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