John Faraclas – picture by ecopack77
The BDI (Baltic Dry Index) gained 48 points earlier on today, thanks to the Capers triple-digit rise amid an uncertain Geopolitical environment, which amongst other issues, we have the tentative TTs (Trumps Tariffs) which stir-up the Markets… Posidonia 2018 swings make the big difference. John Faraclas brief markets recap:
“Good” news as the month comes to an end; a mensis horribilis otherwise as this March was detrimental particularly for the Dry Markets and Oil prices! We have hinted the change yesterday with the phrase “contained loss”…
The Capes BCI was up 125 points surpassing both the 1,300 and 1,400 points threshold standing at 1,401; something of a jubilation and a Posidon’s gift for Posidonia!! Posidonia has been “associated” with some market controversies before, during and after – just to remind you the 2008 BDI’s events that developed. The Annus Horribilis for the shipping industry from the 11,700 plus points (around the 2008 Posidonia) to down the 662 collapse in December 2008. On a very personal but NOT ironic note, I had something to “celebrate” given my written prediction…Anyway…
The Panamaxes’ BPI was also up following a …long period of negative performance; 11 points plus reaching 1,160 was good enough.
Supras and Handies …fell a point; the BSI and BHSI now read 1,063 and 583 points respectively.
Despite all the above the harsh reality is that we are 1,157 points below the end of December 2013 level of 2,247 points… Reality bites!
The Wets on a falling mode; the last published BDTI and BCTI (Cleans) stood at 768 and 555 – minus 11 and 14 points respectively – an expected fall, even temporarily… as the continuous rise was enigmatic…
The WTI stood at US$ 67 flat – might go slightly up but ultra-minimal. Time to see the appropriate adjustment on a lower basis to help humanity and trade AND consumers market – think of this…
On the Geopolitical front Italy is in the process to form a government which has colossal tasks given the country’s colossal debts – national and private… At Euros 2,283.87 trillion as of the 31st of Dec 2017, a G7 county is in disarray. Will debts be paid, even in one hundred years from now, or written-off??? Can Conte deliver? Eh! Spain has tremors too; Rajoy in trouble!
Trumps Tariffs create havoc in Europe and beyond and this, to a certain extend will affect shipping and freight rates…
MIGRANTS of course remain on top of all issues as the entire Middle East centuries old schism continues; elsewhere too!
Turkey and Greece still in a mess as well as the entire Balkans…
The UK continues the BREXIT process… The EU still in tatters…
North Korea and the USA will need more meetings; nothing is yet settled; only when the fat lady sings!
Posidonia’s official kick-off, the practical so to speak side begun yesterday at HORC and numerous evening events, receptions and parties took place all over Atticas’ sea-resorts. From the Niarchos Foundation down to Lagossisi Resort.
Christopher J. Wiernicki, ABS Chairman, President and CEO, his wife and Vassilis Kroustallis greeting guests
The ABS spectacular event at Lagonisi Resort was yet another international congregation.
Over two brigades, others say even more all in a jovial mood honoured one of the world’s top Classification Societies interwoven with Greek Shipping… Pleased to see that 35 to 40 centum of the guests come from abroad, London in particular.
A great success for Vassilis Kroustallis and his team; excellent!
Robert Somerville, ABS’s Dr. Kirsi Tikka, Anny Zade, Nicholas Faraclas and Oceanking’s Costis Hassiotis
Good to see so many friends from the past and in particular Robert Somerville who was with ABS for 43 years retiring in April 2013 as Chairman; he was at the helm for nearly 20 years, the longest ever in ABS’s 156 years history!
Good food – dips and buffet specialities, drinks and great entertainment.
HESGB president Dimitri Monioudis, Leo Noulas from ABS, Kitsa Levantis and Dinos Levantis from Levmar Engineering
Pleased to hear/listen and applaud once again the Fortissimo, the classics, this four talented all female musicians which we met at the HESGB Annual Dinner and Dance event in London’s Grosvenor House last February. The two Marias – Mitriazaki and Eklektou, Sylvia the Scottish Queen and Kelly were once again unique, and dressed accordingly as sea-maidens; every detail a plus for ABS’ organisation skills! The weather? One of the best with the Saronic breeze complimenting everything!!! Many Congratulations!
Fortissimo in action
Allied Shipbokers also staged their spectacular, as always party and Athina Veziri the SRH Marine SAIT leader one at the Niarchos Foundation grounds.
We will revert with updates on all three. What a great Corpus Christi Day that was! Bless us all!
Have a nice evening and be on guard for every eventuality emanating from Pirates, Terrorists and Criminals of any kind wherever you are on Planet Ocean!
