John N. Faraclas
The BDI (Baltic Dry Index) lost 29 points earlier on today and proves our position that there isn’t as yet a sustainable market. We hope that after the Chinese New Year’s celebrations – close to Valentine’s Day, we might possibly see a small surge; we shall see though as things might be unsurprisingly odd… Geopolitics still in a mess with more issues to surface in many of Planet Ocean’s hot/trouble spots. John Faraclas’ midweek recap:
The volatile Capers’ triple-digit loss of 143 points brought the BCI down to 2,677 points; the floor is yours to … “comment”.
The Panamaxes lost 24 points with the BPI now reading 1,404 – caution!
The Supras, “exceptionally” managed to gain nine points with the BSI standing at 898 – very close to the 900 point much needed threshold…
The Handies’ BHSI fell below the 590 point mark by losing three points and now standing at 589…
So all in all a downwards, volatile, unsustainable market not just losing steam, but “capable” in “creating” further mess… coupled with more orders and new regulations – which apply also for the Wets, as well as a bankrupt global economy given that there is luck of consumers market spending as the credit crunch now bites with plastic money debt in all households – 90 centum…
The Wets with mixed feelings in a Market that struggles to survive; the last published BDTI (Dirties) and BCTI (Cleans) stood at 691 – up nine, and 628 – down 18 respectively. On both cases we need to see both indices above the 1,000 point mark…
We reiterate the view that shipping will become shipping for the very very very few…
The WTI as these lines are written, stands at US$ 63.30 and possibly aiming higher. Are we going to see the barrel above the US$70 mark or a drop below even the US$60 level? We maintain the view that any cent above the US$ 50 mark is catastrophic for the poor masses which comprise the 90 centum on Planet Ocean. CAUTION! Caution as some hot spots – Iran, the Gulf in General, the Middles East and Korea might ignite further mess in the market. It is not just the bad winter which so far has caused some troubles over-described in the media on some occasions…there is more…
The Geopolitics still the issue to influence everything these days… Remind you of our 500 year major historical changes – plus/minus 50 years. We are actually in one of those periods…
The MIGRANTS maintaining the lead everywhere on Planet Ocean and many countries have reacted in a not appropriate way causing mess for others, but mainly for the MIGRANTS themselves – the US wants to expel even those from Haiti who came in the USA after the 2010 earthquake… Don’t ask the situ with the classic now MIGRANTS issue crossing over from the notorious Anatolian coast of Turkey to the Greek Islands and from North Africa – mainly from lawless Libya states (yes states) to Italy and to a leaser extent from the Spanish enclaves in North Africa – Ceouta and Melilla causing mess all over Europe. In all three instances there is luck of political and diplomatic skills as the super powers keep on purpose a blind eye… we can guarantee you that it will become a boomerang for all.
The continuation of the Wars in Syria and Iraq and further hostilities as well as destabilisation in the region and in its wider periphery will trigger further mess… The Kurds must have a just deal…
Turkey continues to blackmail but also to bully its neighbours as Erdogan – its sultan-style president, doesn’t give a damn due to his personal issues as well as his aspirations to lead Islam. He’s also the one to trigger, not just behind the curtains,but openly the mess in the Balkans and indeed in the wider Middle East region… CAUTION as his manipulative skills are second to none. The Security Council must intervene and stop his appetite both for …his people as well as his neighbours… There shouldn’t be any excuse from the USA, EU and NATO for whatever they allow him to do when the going will get tough for all… DOUBLE CAUTION!
Next door Greece is the first nation to be bullied by Erdogan and we might see despicable issues taking place. Moreover the FYROM issue vis-a-vis the name continues. No one should accept by others to have the name others want, but also no one can falsify history; end of the story. The citizens of FYROM do understand well the issue and must come down to their senses and together with their backers find a name which doesn’t offend the Greeks. Remember that the British, after the French vigorously insisted, entered the EEC as the United Kingdom and NOT as Great Britain… Indeed there are nations that with some of their neighbours share regions under the same name – in Belgium thee is also a Luxembourg, in Iran an Azerbaijan… Anyway, I am sure you all know what’s in a name… Within Greece now, things are getting sour and the country will need another package to ensure sustainability of the current situation and also to support the previous rescue loans… Tough times still ahead.
More Geopolitical news before midnight.
George Chouliaras, Captain George Xyradakis and the panel of session one – pic by Iris Liaskoni
On another note and note, the 10th Shipping Congress on “Shipping Finance & Capital Markets” meticulously organised by IMES and Maritime Economies at the Athens’ War Museum, bearing the Question: “Shipping as Private or Listed?” – and “The Shipping Finance Alternative in 2018”. This 10th Anniversary coincided with today’s day being the 10th of January and it was the kick off for the many Shipfinance conferences which will take place this session and year.
With a late kick-off/start – as the Greek Minister of Shipping Panagiotis Kouroumplis was once again late to tell us in 22 –twentytwo minutes, despite XRTC’s George Xyradakis humane and friendly advice to be a short one – his party’s and government’s shipping policy and aspirations, other official addresses included: the nine minutes Ioannis Plakiotakis’ speech from the opposition Nea Dimokratia – we shall see as and when they come back in power what they will do; the very eloquent Theodore Kontes’ two and a half minutes harsh and to the point address in his capacity as president of the Union of Cruise Shipowners & Associate Members; the thee minutes address by Konstantinos Achladitis from the Commercial and Industrial Chamber of Piraeus, the three minutes also address by Eleftherios Kechagioglou, chairman of the board of directors of the Hellenic Small Islands network – an excellent and more than to the point address – pity that the minister had left, and indeed the one of Theodore Chouliaras, president of the co-organisers IMES, setting the scene. A good and encouraging point he made was his excitement checking the registration figures just before midnight, being 580 !!!! Indeed who wasn’t there – all the Greek Shipping’s stakeholders and a few hundred students!
A view of the audience during Athex’s Peggy Papastavrou’s question – pic by Iris Liaskoni
The First session which begun 47 minutes later (at 11:47 instead of 11:00) was under the theme: “Shipping & Capital Markets. Does it work?” was successfully moderated by XRTC’s and Propeller Club president Captain George Xyradakis and speakers tried to share their experiences and discuss in a debating mode if the choice of going public a shipping entity was finally a wise decision. The key note speakers included: Jerry Kaligiratos, CEO of Capital product partners; Edie Valentis CEO from Pyxis Tankes Inc.; Spyros Capralos CEO of Ocean Bulk Containers; the eve present in such events Harry Kosmatos, the corporate development officer from Tsakos Energy; the very down to earth Dr. Kostas Rokkos, Chairman and CEO from TST Int’nal Shipping S.A., and George Kofinakos, senior representative of StormHarbour London Finance.
Dräger’s Manolis Sidirourgos delivering his speech – pic by Iris Liaskoni
There wee thee main questions by George Xyradakis with equal responses from the panel members, followed by five questions from the audience in the Q&A time, one included ours. Finally there was an interesting presentation by one of the Platimium Sponsor Dräger’s team headed by Manolis Sidirourgos.
An intense coffee time break and time to see also the small exhibition with nearly ten stands/kiosks and over twenty roll-banners form Many companies, particularly those involved in marine equipment and services.
Will revert with a full report covering all sessions including the after-the-coffee-break one all covered by Iris Liaskoni from our Seascape supporter who on numerous times has covered many events in the UK and Greece and her shots are more than unique depicting the reality evolving in these type of events.
Smiling faces; Anny Papademitriou and Christina Tsimpouklidi at the American Club’s stand
All these conferences must have representatives from the respective ministries that attend so that the public can ask questions and have replies from the designated persons representing the minister, who mostly departs after his speech. We take the opportunity to stress the fact that in a democratic state of affairs those who deliver speeches MUST take at least two to three questions, otherwise monologues are totally unproductive…
Have a nice evening and be on guard for any eventuality emanating from Pirates and Terrorists looming in the background wherever you are on Planet Ocean.
