John Faraclas
The BDI closed earlier on today at 851 points; that’s four points down since yesterday and …two points up since last week’s 849 points. The Geops (Geopolitics) are in the worst possible state since the end of World War II! Any objections? If yes, then we are more than pleased to entertain you live in an A1 TV channel/station any time you wish! John Faraclas’ daily and weekly recap:
The Capers were down 64 points since yesterday – standing at 1,213 and 225 points down since last Friday the 9th of June when the BCI 2014 stood at 1,435 points. Volatility and uncertainty coupled with the Chinese syndrome of losing steam, and see what you get…
The Panamaxes once again saved the falling BDI; the BPI managed to gain 26 points since yesterday reaching the 964 mark and that was 151 points up since last week’s 813 points. Remember: the Panamaxes and post Panamaxes are our favourable size, the size that can keep you afloat…
The Supras were up 11 standing at 701; its BSI was also up since last week 47 points (from 654)…
Finally the Handies’ BHSI clinched four points since yesterday reading now 435 and up ten since last week’s 425…
All in all it is evident that the market has lost steam again; good though to see the plus overall symbol, event two points up, counts a lot! CAUTION!
The Wets were still on a falling mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at 704 – minus one, and 517 – minus five respectively. On a weekly basis the Dirties were down one – from 705 and minus 23 from 540 points respectively.
The WTI remained well below the US$ 50 mark and just below the US$ 45 mark at US$ 44,65; excellent news! Wait until the Shale Oil and Gas comes in full swing! Mind me, this and the use of the alternative sources of energy might change the entire energy map and projects worldwide.
We reiterate the view that the Dry market is still very low and as we insist in our reports, unless we see the December 2013 levels in the Dry Markets, that of 2,200 points, then nothing matters much and very little matters at all… The Wets too might suffer…
The Boxships trade still not what should expect as the World’s recession bites; forget the figures in the stock markets! Forget any growth figures too within the 4 to 5 centum this year; the state of the Container companies doesn’t obviously correlates with the Markets. CAUTION. Mind me, I am a staunch supporter of the boxtrade and conversely intermodalism, but too many players and very few worthy stakeholders cannot create a sustainable market. The Containership companies debts are very high!
As said in the preamble the Geops (Geopolitics) are in the worst possible point since the end of World War II.
The Migrants continued all through the week to be the leading issue as it has been for at least three years now; more and more continue to come from the Turkish Anatolian Coast to Greece / Europe via the Greek Aegean Islands and from the North African Coast. Others are involved in all short of violence and deprivation, others are not being accepted by some European Nations despite relevant agreements. Thousands have lost their lives being drown at sea. The more the Middle East and its periphery is on fire and ISIS still there, the more the MIGRANTS issue will grow. SHAME.
The Wars in Syria and Iraq continues and we await to see the complete fall of ISIS. A very strange situation and we advise CAUTION as the issue on both countries are important for World Peace; the same applies for all Middle Eastern and Gulf countries, as an eruption might trigger the worse…
There are is a possibility that ISIS leader was killed by a Russia air strike back in late May during a meeting in Raqqa with 330 fighters – all dead. Abu Bakr al-Baghdadi was previously announced dead by a USA raid. This is the first time the Russian come up with an official announcement; we are awaiting for a final on this, but good job done…
Meantime, the Iraqi Army’s offensive to completely retake Mosul has begun; lets hope for a swift victory as ISIS uses humans there as a protective shield; shame shame shame!
Turkey continues to be a pariah state in all fronts and at any cost wants to play a vital role in the entire region of the Middle East. See for example Turkish latest respond in supporting the Qataris… Turkey continues to pester all its neighbours and particularly Greece and Cyprus. Pleased to read that the Americans are out and think out of the box in trying to prosecute Erdogan’s bodyguards following their interference with the crowd of Kurdish demonstrators suppressing their rights of free expression, particularly in a foreign country, during president Erdogan’s recent visit. The attorney general and all Americans should saw zero tolerance and jail them following arrests. Within Turkey things aren’t rosy and the arrests of all enemies of president Erdogan continues. Hope in the forthcoming meeting on Monday in Athens between the Turkish prime minister Yildirim and Greece’s Tsipras some issues are sorted out as thing might get off hand. CAUTION.
Next door Greece continues in dire straits. The current coalition led by SYRIZA continues suppressing Greeks to please its creditors. The time will come that PM Tripras and all former PM’s end behind the bars for crime against the Greek people. It is despicable how a lefty Greek government plays and dances with the music set up by Greece’s creditors lead by Germany, a nation bankrupt in 1953! Greece at the time voted to save Germany! It is about time Germany not just returns to reality, but comes down to its senses and stops its despicable policy against Greece. Remind you taht recently the Greek Shipowners were attacked by the German finance minister Wolfgang Schäuble who got the appropriate reply by Greece’s UGS president Theodore E. Veniamis! There are as we have numerous times written, skeletons in the German cupboards! Besides all Greece’s troubles, the Greek island of Lesvos was hit by an earthquake leaving a few dead and injured as well as 500 plus house destroyed… Less damages in Chios and opposite in the Anatolian Coast of Turkey were it was also felt.
The Qatari saga will be more than perplexed; too many issues at stake in a very difficult region… Excellent American policy though secured a US$ 12 billion lucrative arms deal… Still we reiterate to have all info if there is any element for a terrorist regime there; it will be very serious and the free world demand the truth, no matter the costs… The Sauids and other Arabian Peninsular States distance themselves fro
BREXIT looks set to begin any time now. Soft or hard it will be a BREXIT! Mrs. May has a lot to deal with plus the unwanted extras on safety and security that have occurred, really out of the blue, but, with all due respect, all expected: Terrorism, Safety of the Construction – Building/Housing Industry… and an election result which in my view is OK, but the losers believe, they are winners… Let’s see how she comes back.
In France the second round of the Parliamentary Election is on this Sunday and let’s see Macron’s overwhelming victory what can bring for ailing, yes ailing France… let’s see the turn out too, a fundamental barometer on elections and what one can expect!
From the other side of the Atlantic we are “receiving” mixed signals with respect president Trump being under investigation and acknowledging same in the inquiry into alleged Russian meddling in the US election last year; shall we expect the unexpected? This is not a way things come out to the media as the international public and in particular the business word – shipping in particular which is part of intermodalism, are concerned… CAUTION as, even all these are nonsense, they are very damaging and people lose faith and uncertainty can cause a melle…with an asymmetrical domino effect.
Another issue is, according to the media, the president’s debts now at US$ 325,6 mio owed to US, German and other banks…It’s all fine and no problem somebody, and in particular a businessman/woman to enter politics, but is a must beforehand to settle his/her debts, even a nickel!
The USS Ship in collision in Japan with a containership raises a lot of issues from both sides of the equation: commercial navigation and naval navigation – remind you the accident off the Greek island of Samos between the patrol boat P25 “Kostakos” and f/b “Samaina” on the 4th of November 1996… We need to know what happened in Japan and let’s see what happens to the missing sailors from the American ship!
Why is president Trump really changing the US-Cuba policy? Cuba says it will fail… I guess over the last two years things where getting better.
South America: In Brazil president Temer’s lawyers are intending to sue multi-millionaire Joesley Batista who accused the president of leading Brazil’s most dangerous criminal organisation… We shall see… In Venezuela things are going from worse to worse… CAUTION
In India’s western city of Mumbai the court has found six men guilty for their roles in the 1993 serial bomb blasts which killed over 250 people. Bombay Stock Exchange, the offices of national carrier Air India and a luxury hotel were targeted. In 2003, 2006, 2008 – the most despicable on which nearly derailed the India – Pakistan Peace process and the 2011 are major terrorists events there; we need to see severe punishment talking place. CAUTION…
Helmut Kohl, German Chancellor for 16 years and architect of the re-unification of Germany in 1990, past away at 87. Despite his occasional differences he forged alliances both with UK’s prime minister Margaret Thatcher and USA’s president Ronald Reagan…
The Grenfell Tower saga continues; going back in recent history, Harold Macmillan (British prime minister 1957-63) is supposed to have said in response to a journalist when asked what is most likely to blow governments off course: “Events, dear boy, events.”
The dreadful tower block blaze in London this week might even prove to be the event that knocks the nascent May government off course. The outrage felt by survivors and neighbours is swiftly making this tragedy a political watershed of major proportion. For those victims, you can forget the pros and cons of Brexit; a calling to account of those who over many years so signally failed in “risk assessment” and “risk management” of the basics of civilised living is the question of the hour.
After the two recent terror attacks in London and the massacre in Manchester, the authorities seem to be floundering, and this is a huge challenge for Mrs May as she attempts to steady the boat following her General Election misfire. She has Mr Corbyn, seeking to become a prime minister-in-waiting snapping at her heels (is he saying too much right now – or even too little?), while the third party, the Liberal Democrats, is out of the picture having had their leader resign seemingly under great personal pressure and by coincidence about the time the awful blaze caught hold.
As we have pointed out in these pages, fire danger is not something for cost-cutting ‘solutions’ and the shipping industry stands in sharp contrast to some players in the civil construction industry for having largely installed safe systems (although the record of some shipyards over the years in fire and explosion precautions has been shameful.)
Protesters have entered the RBKC Town Hall demanding answers; CAUTION!
Meantime Theresa May, who visited victims in hospital earlier on today, has announced a £5 mio fund to pay for emergency supplies, food, clothes and other costs.
Earlier on today The Queen and Prince William met volunteers, residents and community representatives during their visit to the Westway Sports Centre.
The Queen paid tribute to the “bravery” of firefighters and the “incredible generosity” of volunteers now offering support.
Lastly in Athens as you read these lines, the Pireas 2017 gala at the Glyfada Golf Club is in full swing despite the rain. The president of the HSA – Hellenic Shipbrokers Association John N. Cotzias and his team of events managed to do their utmost and delivered an excellent event for their 2,000 guests there; excellent and Congrats once again. You have to be a good broker even with Mr. Weatherman… and his tricks! we will revert with a full report on this.
Have a nice evening and weekend and be on guard for any eventuality deriving from Pirates and terrorists action wherever you are on Planet Ocean!
