John Faraclas
Once again we were verbatim right and the Market’s fall come at no surprise to us and our supporters; add the uncertainty deriving from the Geopolitical chaos and see what’s up next. John Faraclas’ daily recap:
The BDI closed down five points since last Friday at 715 points and following the long Bank Holiday break, thanks to both major sizes – the Capers and Panamaxes which begun another dive, we are entering another difficult market period with an uncertain outcome… There is no steam in the market!
The BCI 2014 closed down 15 points at 986 – down from the 1,000 point safety mark…
The Panamaxes’ BPI was down too 13 points at 674.
Supras’ BSI gained four points and now stands at 719…
The Handies up one and the BHSI now reads 432 points…
A dropping dry market – no further comments!
The Wets and the last published BDTI (Dirties) remained the same at 515 points and the Cleans’ BCTI gained just two, now standing at 457. Caution on all fronts! Tankers are in a mess and will continue unless we see a change in control of the oil stocks…
The box trade too is on a difficult path; expect many changes and sell offs…
In the LNG markets fleet utilization and charter rates will remain low…at least for another year… be on guard here too…
The price of WTI as these lines are written stands at US$ 46.50. Caution yet again…
Many bankruptcies continue and together with shipfinance disputes will make the shipping business more than an exciting adventure! An end game for the hoi polloi…
We are 1,285 points below from the 2,000 points of the BDI – this is when, as we have written in the past, business will make sense – until then you are a big liability – save the very very few….
Once again we reiterate our view that despite the above figures and results, as well as the as ever turbulent Geopolitics, this is the best ever buyers’ market; don’t miss the chance! Opportunity knocks only once!
On the Geopolitical front we have warned you of imminent developments and they all happened:
The MIGRANTS issue, the most important of all, now takes another twist and turn in all regions: In the Aegean Greek Islands there is another influx from the Anatolian coast of Turkey– shame! Local Authorities, Greek Government and the European Union have spectacularly failed to pursue a zero tolerance policy against Turkish provocative stance and in our view despicable blackmail. Rumours that Mrs. Merkel accepts mistakes on the MIGRANTS issue… suggest to me that she must resign! In the North Africa to Italy front just over 6,500 MIGRANTS – mainly from Eritrea and Somalis, last night where rescued in a combined effort by the Italian and Spanish Navies and Coast Guard; another shame there. War of words between the British and the French vis-à-vis Calais asylum seekers, Migrants etc., via the media. Let’s see what the respective ministers of these two countries – at odds on many issues, will agree on. In any case we need per mare per terra to give an end to the Migrants travelling here and there. E N O U G H. Let the countries of the same culture and religion in their close proximity absorb them. Dangerous days lay ahead. It is not just spoiling the social cohesion of all Europe’s nations, it is beyond that! We remind you two important issues: Among the MIGRANTS are terrorists and many deceases are transferred too due to lack of health control and attendance; needless to say the inhumane exploitation and prostitution as well as other issues emanating from the MIGRANTS and many Governments apathy to tackle all issues concerning the MEGA-MIGRANT saga!
The Syrian saga, as expected takes yet another – expected/foreseen from our side, despicable turn with the weekend intrusion / expected invasion of Syria by Turkish Forces with over 50 tanks and 1,000 soldiers, receiving only today a warning to stop and return back from the US. Turks though will continue until they blow up the entire area there. The Turkish administration must accept that sooner or later the break-up of Turkey will be a fact and not a fiction! The Turks are supposed to “fight” ISIS, yet their ultimate goal is to damage anything to do with the Kurdish Cause. Too late Mr. Erdogan… We invite you to read our last Friday’s report. In an A to Z line of events we are still in the letter I… Meantime Israel is closely watching all developments and rightly so…
In South America and particularly in Brazil, everybody wants to see the end of Dilma Rousseff; the main issue though remains who else is involved with this catastrophic for the country embezzlement – what will be the end result? The San Marco dam collapse points at the drawing board… Another messy issue. Brazil post the Rio Olympics will produce many tsunamis…
In South Africa another “racist” issues or what is boiling there with the Pretoria’s Girls High… on hair…
In the Kyrgyk capital Bishkek a suicide bomber explodes his car at the Chinese embassy’s gates… Caution…
Abe’s Japan shows a 21 years low in unemployment – below three centum; excellent!
The USA is upset for Apple’s unfair tax ruling in Ireland… Hmmm Not everybody is perfect, but don’t play with your luck; nobody is a moron… Enough! Let’s hope the new president will short out all this mess…
BREXIT continues to dominate World economic and trading news – we stand by our projections and our latest news and video says it all. Pleased to have some comments; indeed the Latin World will also side with Britain, although it is early days – let’s wait a bit… as you never ever know the Latinos appetite…
The Notting Hill Carnival completed half a century over the weekend but it must become a bit more contained and avoid this year’s 450 or so arrests and five to ten stabbings. Did I hear you say drugs and excess drinking…? All in all it was OKish!
In Greece the economic mess will create social explosions on all fronts. Being in power or in opposition is one thing, delivering yet another!
That’s all for today; be on guard and ensure you tell your MP where ever you are to make things good before the shit hits the fun…
The Global Recession has begun back in 2008 and now we have the first signs of the mess spilling over and we must avoid War at all costs. Shipping will be the first sector to be affected with incalculable damages… The first victims are the shipyards…
Have a nice evening!
