John Faraclas
Uncertainty and volatility rule the Markets
The BDI (Baltic Dry Index) lost 17 points and now stands at 1,558 – on a weekly tough basis same was up 30 points from 1,528 (29/11). Geopolitics still sour. John Faraclas’ daily and weekly recaps:
The Capes’ BCI was down 52 points at 3,273 but up 142 points since last Friday’s 3,131…
The Panamaxes’ BPI was up 11 points at 1,347 and 120 points since last week’s 1,225 points…
Four points plus for the Supras’ BSI now at 835 and 19 points plus since last week’s 816!
Minimal gains for the Handies’ BHSI now at 507 – up two and three points up since last Friday’s 504 points!
All in all an uncertain Dry Market and really wonder what’s next to come given the Festive Season, the 2020 as well as the deteriorating Geopolitical issues in all fronts all over Planet Ocean!
The Wets, once again, still with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,315 – up 29 and 804 – minus five points respectively. On a weekly basis the Dirties were up 48 points from 1,267 and the Cleans down 119 respectively. CAUTION!
The WTI was up at US$ 59.20 and on a weekly basis also up – US$ 4.03 is a bad figure given that same was down to US$ 55.17 on the 29 of November. Ultra-CAUTION should be observed!
The Geopolitical situation and following NATO’s summit in London, things are becoming more than perplexed. Add the infamous Global debt of US$ 255 trillion and see what you get; not to mention that now more and more voices write about the fact that we have entered another Recession yet again!
Migrants, The British Elections with BREXIT, The Turkish aggression in all fronts, the apathy of the UN, NATO and the EU over these despicable Turkish provocations will lead us in a total mess… Strikes in France … and in general the EU being in mess… The faulty line from Gib to Afghanistan and from the Caucuses to the Horn of Africa with over ten focal/flush points will make life really difficult for all…
At the other side of the Atlantic, both North and South things remain pretty much the same… The Democrats ready to attack yet again president Trump and president Trump trying to defend himself and also win the 2020 presidential elections, the Central and South American mess and bankruptcy disasters… The African pandemonium – yes pandemonium at best… The Trade Wars with the USA and China at loggerheads more than ever…with the open situ in the Korean Peninsula and Japan watching… CAUTION CAUTION CAUTION
The panel
On another tone and note we had two very interesting events in Greece:
At the Piraeus Marine Club the IRI/ Marshall Islands organised this morning an exceptional event on “Seafloor investigations, Port state Control and the 2020 low Sulphur Fuel”; a very special seminar which surpassed the organisers’ expectations as two floors – the 9th and 7th ones were used given the great number of attendees! A very helpful three by two meter screen did the trick to please this overwhelming attendance !
l to r: Lycy Mylonaki, Winton Porter, Stavros Meidanis, Laura Sherman and Theo Xenakoudis
I am sure Theofilos Xenakoudis and his team in Piraeus as well as colleagues from London and the other side of the Atlantic must feel more than content. A warm welcome by Rear Admiral (Rt) Kevin Cook from the USCG then a history of Seafloor Casualty Investigations with Captain Morgan J. Turrell.
Afterwards four Seafloor focused presentations with the Derbyshire, the El Faro, the Stellar Daisy and Voyage Data Recorders.
After a Q&A session an interesting network coffer break before the Port State Control, the IMO 2020 Low Sulphur Fuel Update and a brief Q&A with just two questions – I guess attendees preferred the cocktail reception which indeed was beneficial!
Very honoured to be present with Anny Zade in this exceptional event
In the evening the 16th Annual Lloyd’s List Greek Shipping Awards and Gala Dinner at the Athenaeum InterContinental Hotel at the entry gates of Athens City! Who wasn’t there!
With 18 awards covering all sectors of the Shipping Industry and some very personal ones – some being very touching too, all left pleased with this exceptional night! Good to see some changes and replacements given the ever changing shipping environment and technological improvements; well thought! The timing of this event coincides with the famous infamous 2020 – regret for the regulators, but this is our view, which begins in 25 day’s time, the technological challenges but above all in a bankrupt world economy and let’s see how the Greek masters of Challenges will face these new ones…
Bureau Veritas’ Pailette Palaiologou flanked by LATSCO’s George Is. Margaronis and Paris Kassidokostas -Latsis – who won the Tanker Company of the Year award
Good food and drinks not only in the pre-diner reception but during the main meal with exceptional service by the hotel’s catering department and absolutely that was the event for networking, meeting old friends and making new ones.
For us also a great evening as relatives and friends were awarded from the Greek and International society this honour!
Many Congrats to the organisers and presenters! We will revert with the full report!
Now we all get geared for the Festive Season’s receptions and parties all over Planet Ocean; the Greek ones are simply the exception!
That’s all for tonight – we are lucky on time as we are on GMT basis and manage to include the latest news, have a nice evening and weekend but continue to remain on guard from actions emanating by Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean.
