The Markets: still in red; the geopolitics more than explosive
The BDI (Baltic Dry Index) lost 27 points and now stands at 1,779 points losing the 1,800 point-threshold. The Geopolitical situation is not just perplexed, its explosive and except despicable thing to happen in all fronts. John Faraclas’ midweek recap:
The Capes’ fall is still “strong” 71 points with the BCI now standing 2,873 points…
The Panamaxes lost 25 points, a “similar” fall to yesterday’s 24 points and now read 1,770…
Seven points down for the Supras’ BSI now at 1,210…
And minus four points for the Handies’ BHSI now at 642.
The Wets also on a downward mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,282 – minus 30 points and losing the 1,300 point threshold and 814 – minus 42 respectively…
So all in all another Red day for both Dry and Wet Markets. CAUTION.
The WTI as these lines are being written stands at US$ 55.97 – a “bit” of an unexpected surge upwards; bad news… This US$ 1.49 rise is millions of dollars costs to the 7 (seven) billion poor all over Planet Ocean. No excuse for this rise, even if the Hormuz closes, even if the Suez closed, even if Aden closes! Just remember that without closing these straits in spring 2008 the barrel was US$ 147 (usdollarsonehundredandfortyseven).
The Geopolitics, as said in the preamble and keep repeating every day, continue to worsen:
The MIGRANTS still the number one issue. You know what’s going on in the entire Med; what about over here in the United Kingdom, eh! The latest macabre case with 39 dead in a lorry in Essex – 15 miles outside London. Who smuggled them? Where they are from? We will revert as soon as we have appropriate information. These smuggling trafficking dirty business takes place with all types of transport: airplanes, ships, boats, yachts, trains, vans, cars, containers you name it! Tougher controls to smash those despicable traffickers and their accomplices.
In the Med and in particular in the Aegean, the scandalous Turks continue to send MIGRANTS over… In mainland northern Greece villagers are revolting and they don’t want MIGRANTS from Samos Island to be there in the hot-spots and other centres. The people had enough! The social cohesion is being traumatised.
The situ in Syria has more twists and turns with Putin’s Russia and Erdogan Turks striking a deal for ceasefire but atrocities have taken place against the Kurds there… Wonder what’s next as the USA lifts the sanctions against Turkey… following this deal and the Turkish “behaviour” towards the Kurds….
In the meantime Turkish jets and other warplanes continue to violate the Greek and European Union’s airspace; today the Greek military authorities recorded 70 (seventy) violations and intrusions by 21 (twentyone) Turkish fight jets – 18 F-16s, two F-4s, and one CN-235. There were also five dog-fighting cases. Add 17 violation of the Athens FIR rules and see what you get and what might happen any moment! All Turkish planes were intercepted in accordance with the international rules by the Hellenic Airforce. CAUTION!!!
BREXIT seems to be further delayed as an indefinite extension by the 27 in the EU “looms” in the background… After the end of this perplexed situation with or without deal – you never ever know how things can turn yet again, a film must be all over Planet Ocean for the World to see incompetent politicians from both sides of the British Channel contemplating and deliberating without any plan whatsoever. Still as you read these lines NOTHING is ready for any BREXIT whatsoever!
At the other side of the Atlantic whilst Dept of Defence official Laura Cooper was giving testimony on president Trump’s impeachment, Republican Congress members stormed in the behind close doors hearing, demanding to be allowed to see these proceedings….
A “bit” south in Brazil more than 200 beaches still suffer from the mysteriously oil pollution; a disaster with incalculable repercurssions!
Argentina in mess…
In Chile following the violent protests leading to a social upturn, president Piñera has announced reforms; we shall see!
In Hong Kong still nothing much except the fact that its legislature has formally withdrawn a controversial extradition bill that has sparked months of unrest… let’s see what’s next…
North Korea still an issue for all in the Far East. Caution there too!
All other main issues we cover remain, unfortunately, the same. Ultra-caution should be observed as unexpected things might take place. We have warned you a long time ago and from time to time we repeat our fears that we might see some of the dire straits on Planet Ocean being in trouble, closed, blocked or otherwise. The international community must ensure that all straits – Aden, Constantinople, even Dover, Hormuz, Kiel, Malacca, Panama, Suez are free and safe for navigation and will continue to link the shipping sea lanes as otherwise chaos will prevail. A UN mainly Naval force must be at all times in place. We have aired these fears ever since this medium was launched and we made it explicit in LISW2015! We also reiterated our view in LISW2019 on the 12th of Septemer at the main Conference / debate! End of the story! We are living in interesting times!!!!
On another tone and note what a timely event that was tonight at S&P Global Platts offices in Canary Wharf.
The event was in collaboration with “Access for Women in Energy” and was on all counts a great event by GEF – The Greek Energy Forum on “IMO 2020 and beyond: the disruption in the refining industry”.
Will revert with a full account on this. Good to hear that a great number of HESGB – Hellenic Engineers Society of Great Britain members attend the event! Excellent.
Remind you WISTA International AGM and Conference in Cayman Islands. Ensure you are there!
In Yokohama Japan they are half way through the YMF2019 – Yokohama Marine Forum; we will revert as soon as we have more news; first indications is that it’s a great event.
IBIA makes waves in Turkey for its Annual Convention in Istanbul (22-24 October); we will revert with a full account!
Finally another WISTA event just ended in Buenos Aires. WISTA Argentina just had a conference with five of its members talking about different issues: Compliance, IMO 2020, sustainable development, technology in maritime communications, it was excellent!
Have a nice evening and remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean.