John Faraclas
BDI hiccups as Capes fall below 300…
The BDI (Baltic Dry Index) lost six points earlier on today given the Capes’ fall below the 300 point threshold and now stands at 663 points; mixed feelings for the Wets and perplexed Geopolitics makes it a bleak picture. John Faraclas’ brief daily recap:
The Capes’ BCI after losing the 300 point-threshold now stand at 299 – minus 56 points, exactly double since yesterday when many though the reverse was about to come… Ultra-caution should be observed…
The Panamaxes’ BPI gained 24 points and maintained a sort of a balance; at 924 and close to the 1,000 points it gives hope…
The Supras’ BSI was up nine points and now stands at 776…
The Handies’ BHSI returned with a double-digit rebound of ten points enable this promising size to go over and above the 400 point mark; at 407 offers a breath… The last time we witnessed a double digit rise was on the 27th of Feb 2019…
The Wets with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 762 – down 12 and 581 – plus six points respectively…
The WTI lost three cents since yesterday and now stands at US$56.56! We are closely watching the price as well as developments in Venezuela as well as in other “hot” regions – not just spots!
The Geopolitics are in a point of no return and be prepared to tackle wherever you are many despicable and adverse issues from the Migrants to major Corruption issues / cases and indeed Wars; Wars of any kind, be it Trade Wars, Civil Wars as well as Wars in the Platoon… We are unfortunately preparing you for the inevitable given that diplomacy has totally failed to contain many issues as the Business Hooligans become more than thirsty for a total War… Any area you analyse smells gunpowder; any objection?
The faulty line from Gib to Afghanistan and from the Caucuses down to the Horn of Africa day by day becomes more than dangerous; the two main focal points the Balkans and East Med might produce tsunamis. In the Balkans the super powers exercise games of influence and thus stir up the region; that’s terrorism and business hooliganism! In the East Med the latest findings in the Cypriot EEZ opens the appetite of the vultures. Erdogan’s Turks called manoeuvres to “promote” their “Blue Motherland”, the Eni lot “lost” from the ExxonMobil glitterati – that’s how we interpret the non-stand-off… there … CAUTION as this latest event – of finding lots of gas and oil in Cyprus might turn the Turks to become bulls…
Turkey continues to violate Greece’s and the European Union airspace and waters… One day the shit will hit the fan! Turkey might opt for hostilities leading to a regional conflagration as bankruptcy can only be delayed through a war… CAUTION!
Greece lives the fever of a triple election with a polarisation environment leading to further mess… Whether the EU can halt the promises from both main parties (ND and SYRIZA) it remains to be seen… Too many open fronts: the foreign policy a major thorn and the internal situation might create unwanted responses and outcome…
The BREXIT saga creates more problems in a very short time frame and let’s hope not so many people are going to be harmed from any type of BREXIT. So what happened and the Mighty Continent is about to lose such a valuable member? A member-state who contributed more than any other for the liberation of Europe from the Nazi yoke… What went wrong and even puts Peace at stake yet again as post-Brexit trade patterns might create havoc to both sides – mainly to continental Europe… I guess it is time to say that politicians from both sides of the Straits of Dover much come down to their senses before its citizens come down to their knees!
Wonder how president Macron of France sees the reforming of Europe with even a European Army…
At the other side of the Atlantic USA’s president is trying to tackle too many issues at the same time… Can he finish his term? Can he strike a deal with China over the Trade War that already is causing a mess for many and its escalation as we foresee will be devastating for China which might opt for other counter nasty responses… even reprisals in the Pacific – Taiwan and the South China Sea… I guess Turkey might become president Trump’s next episode for many reasons – not just for the SS-400… India is upsetting him too…
Wonder how the Huawei saga is going to be tackled… president Trump might get closely involved… Nobody trusts Huawei’s true projections…
India and Pakistan must find a formula for Peace even beyond the aging Kashmir issue as the 1971 war was just a kindergarten game; now we might see worse things coming out as both nations are members of the nuclear cartel so to speak and that might draw in China and the USA!
In South America now; president Maduro can become more than dangerous… His foreign supporters are at best morons totally ignoring the well-being of the Venezuelan people… Can opposition leader Juan Guaidó make the difference so that conditions change? The exodus from Venezuela, unfortunately, continues…
Latin America is in turmoil and let’s hope we don’t see bloodshed… Brazil has to take the lead and ease things down. Can Bolsonaros’ military discipline make the change and the big difference? Let’s hope so…
In Africa Zimbabwe might see USA’s sanctions renewed! Moreover in Nigeria over 300 have been arrested on suspicion of committing electoral fraud for last month’s poll.
In Australia, Cardinal George Pell is faced yet with another alleged abuse… back in a swimming pool in the 70’s… Oh boy!! I guess we had enough from some clerics…
That’s all for tonight, more Geopolitics tomorrow…
On another tone and note we had today two events worth mentioning; Intercargo’s semi-annual meetings in Hong Kong and the launching of Michael Kyprianou & Co LLC London office…
l to r: Dr. Kostas Gkonis, Dimitri J. Fafalios and Jay K. Pillai
The Intercargo two-day event given the environmental, market and other parameters comes at no better time:
Dimitri Fafalios presided over his first Technical and Executive Committee meetings since taking over from John Platsidakis as Chairman in January…
The meetings were well attended with reps from Greece, UK, US, Italy Brazil, Japan, Hong Kong, Singapore and elsewhere, discussing in depth matters affecting global shipping and particularly bulk carriers.
Mr Fafalios was supported in Hong Kong by Intercargo Vice Chairmen Jay Pillai and Spyros Tarasis, Intercargo Technical Committee Chairman (Tom Keenan) and Vice Chairman (Dimitri Monioudis) as well as Secretary General Dr Kostas Gkonis.
Mr Fafalios stressed repeatedly that the approaching regulatory tsunami due to the 2020 sulphur cap and the 2030 Greenhouse Gas reduction targets must be dealt with via the IMO exclusively and that the clear voice and advice of shipowners and operators should be heard in these demanding times…
Intercargo will continue to voice its concerns re safety, equanimity and sustainable quality management practices in all fora and continue to educate regulators and the public as to the need for all stakeholders within the shipping industry (including charterers, ports, fuel refiners and bunker suppliers) to step up and assume their individual sector responsibilities rather than remaining silent and expecting the shipowner to bare on his own the full weight of applying the impending regulations
John Platsidakis (Intercargo chairman 2013-2018) was declared Honorary Chairman and promised to continue to be vocal in promoting the image of quality bulk carrier ownership and fair commercial practices…
l to r: moderator Savvas Savvides, Lambros Soteriou, Tassos Yiasemides, Gina Panayiotou, Esme Palas and Denise Kay
The Michael Kyprianou event at a full house – the first floor double auditorium at the Grange Tower Bridge Hotel was packed given the “odd” hour (16:00GMT) and that shows the support of its multi clients worldwide!
Esme Palas from the hosts introduced the event which was blessed by the very eloquent Metropolitan Athanassios of Tropeou.
Speakers and topics:
Cyprus Shipping – International Trade beyond BREXIT by the up and coming Gina Panayiotou – Ms Panayiotou heads the shipping division at the Michael Kyprianou practice.
Lambros Soteriou, a partner delivered a speech on Cyprus as a Corporate destination. An equally good speech was delivered by Tassos Yiasemides, board member at KPMG.
The Global Mobility relating to Cyprus was delivered by Denise Kay, a partner at Sold on Cyprus.
Savvas Savides excellently moderated the event as well as the panel discussion on The Effect of Brexit on UK Citizens living in Cyprus. A Q&A period followed and thereafter a more than interesting networking reception with excellent dips – hot and cold, as well as drinks with almost all delegates remaining until late.
Good to see many friends from shipping industry entities and organisations amongst them Rachel Lawton – a WISTA UK member and director at Mazars, George A. Demetriades – Counsellor (Marine Affairs) and Alternate Permanent Representative of the Republic of Cyprus at the IMO, lawyer Stavroula Gavridis and many others including journalists… All in all we counted over twelve different nationalities of participants; that’s a success!
Well done and all the very best; Cyprus returns to further development following a period of crisis. The Shipping and Shipping related business were on top of the agenda and the video shown was exceptional with all stakeholders on the island participating!
Coming up among other events:
a) Wealth Forum Advisors – 25th March 2019 Exclusive Invitation
This is the second in the series of the Wealth Forum Advisors seminars at the famous Caledonian Club from 18:00 to 20;30 hours at 9 Halkin Street, Belgravia,London SW1X. An evening with Lord Peter Goldsmith QC on “Brexit and Beyond” joined by Jimmy Desai speaking about “Dangers in data transfers post-Brexit”. Tickets £ 45 / Wine and canapes. \For more information or to confirm your place please contact rm@richardmoir.com by 20 March.
b) Panama Maritime XIV World Conference and Exhibition 17 to 20 March; get geared and ensure you register on time for this event coinciding with Panama City’s 500th Anniversary! Log on and see the programme and speakers’ themes.
c) YES to Sea Tourism Forum 2019 which will take place during Posidonia Sea Tourism exhibition on Wednesday the 29th of May 2019 at Domotel Kastri in Kifissia, north of Athens between 14:00 to 19:00 hours. and
d) “7th Global Symposium of Maritime Executives” (PIREAS 2019) shall take place in June 2019, as follows:
Day 1: Thursday, 20th June 2019 Global Shipbrokers Forum
Venue: Yacht Club of Greece, Piraeus
Day 2: Friday, 21th June 2019 Shipbrokers Gala Dinner
Venue: Metropolitan Expo, Spata
Maritime Executives and Decision Makers from all over the world will meet once again, as is traditionally done every second year since 1995. The last PIREAS hosted in excess of 3,500 members and guests, and the aim of the HSA is to entertain a similar assembly of participants in the forthcoming event in June 2019.
That’s all for tonight and remain on guard from actions emanating by Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean – in London we had today some nasty parcels / envelops from Ireland (according to the authorities) to Heathrow Airport and Waterloo Station… Caution! Caution also for seeing a rise in knife crime!
