The BDI lost 35 points since yesterday and now stands at 1,355 – same was up 32 points since last Friday the 4th of November (1,323), but down 483 since last month’s (four weeks now) 14 October 2022 when it stood at 1,838 points. We need to see the BDI above the 2,000 points threshold to be on the safe side. Both Wets maintain a plus profile despite the energy crisis and aviation industry’s “come-back”… supported by the recovery of the tourist sector… On the Geopolitical front, these four weeks made major headlines in all five continents. Covid re-surges… CAUTION on all fronts; John Faraclas’ daily, weekly and monthly brief recap:
The Dry Market lucks steam and in order to be on the safe side we need per mare per terra to see same above the 2,000-point threshold. All in all a bad month with the exemption of Capes and Panamaxes’ ups and downs giving the positive or negative overall note of the market. One or two sizes, as we have numerus times mentioned all these years, do not constitute a Market; all sizes must be either up or down… The War in Ukraine, Covid and other issues – Recession and Inflation do damage the Markets – not to mention the US$ 400 (four hundred) trillion debt all over Planet Ocean…
The Capes’ BCI was down 108 points since yesterday at 1,544 losing also the 1,600 points threshold. Same was though 201 points plus since last week’s 1,343 but 622 points down since the 14/10 when it stood above the 2,000 points threshold at 2,166; a significant fall…
The Panamaxes’ BPI gained 18 points since yesterday and now reads 1,637 points; on a weekly basis the BPI was down 63 points – from 1,700 (04/11) and 444 since the 14/10 when same stood 2,081…
The Supras’ BSI lost 14 points since yesterday and now reads 1,213. Losses on a weekly basis – minus 49 points from 1,268 (04/11) and 477 down from 1,690 on the 14/10…
Losses for the Handies’ BHSI, minus 10 since yesterday and standing now at 787; 49 points lost since last week’s 836 and 225 since 14/10 1,012 losing also the psychological level of 1,000 points.
As mentioned above NOT A NICE DRY SITUATION; CAUTION!!!
The Wets continue the slow but steady rise; the last published BDTI (Dirties) and BCTI (Cleans) stood at 1,894 – plus 39 and 1,340 –plus 16 points respectively. On a weekly basis the Dirties were up 58 (from 1,836) and the Cleans up 141 (from 1,199). Rich pickings on a monthly basis with the BDTI up 340 (from 1,554) and the BCTI 114 (from 1,226) on 14/10/2022! Cross your fingers…
The WTI was up U$ 2.49 since yesterday and now reads US$ 88.96; on a weekly basis same was down US$ 3.65 (from US$ 92.61 on 04/11- the highest within a month) and on a monthly basis up US$ 3.35 (from US$ 85.61 on 14/10/2022). Still a complicated situation and despite the energy “crisis” same should not be a nickel above the US$ 49.99 mark; no excuses please.
The FTSE100 was down 57.30 points since yesterday and now reads 7,318.04. On a weekly basis same was down 16.80 (from 7,334.84 (04/11) and 459.25 points higher since the 14/10 when same was below the 7,000 points barrier – at 6,858.79. An interesting correction following the election of Rishi Sunak…
The Dow Jones was marginally up 32.49 points since yesterday and now stands at 33,747.86; on a weekly basis, same was up 1,344.64 points – from 32,403.22 on 04/11. Excellent monthly performance with 4,113.83 points plus – from 29,634.83 on 14 Oct 2022! A plus for President Biden and his Democrats in the midterm elections!
In the Far East, the Nikkei performed well and clocked 28,263.57 which is 817.47 points higher since yesterday. On a weekly basis, the NIKKEI was up 1,063.83 – from 27,199.74 (04/11). Monthly gains of 1,172.81 were received with much relief from all (up from 27,090.76 on 14/10)…
The Euro / USDollar parity stood at 1,037, slightly up from yesterday’s 1,019 and far better than the parity on 14/10 when same stood at 0,9718… We all call it 1=1 and same applies more or less with the GBP!
On the Geopolitical front:
The Migrants, being the most important issue, reached highs in the UK with over 40,000 having crossed the British Channel this year, versus 28,526 in 2021 and 8,404 in 2020; shame! The British Government expects its controversial plan to pay off by sending lots of them in Rwanda.
Increased numbers still cross the Med from mainly Libya creating mess in the Italian – French relationship. Still president Erdogan keeps a blind eye and sends hundreds to the Greek Islands in the East Aegean, threating also and to push them over through Evros River, which divides Greece and Turkiye, to Greece for the trip onwards to other EU nations and thus with his blackmail tactics to destroy the social cohesion. Disturbing; time his compatriots oust him; time for the EU to reprimand him and NATO to consider striking Turkiye off. We all had enough.
Now add the despicable provocations in Central and East Med and see what we get from Erdogan. Enough, given his treats against all of his neighbours and in particular, Cyprus and Greece.-
The mess in Ukraine continues and the more Ukrainians win back lands, the more asymmetrical president Putin of Russia may become. Kherson could be a decisive turning of the war, although we believe same is too early. Consolidation favours both. The Grain Shipping Agreement continues despite some hiccups… CAUTION…
Rishi Sunak won the Premiership following his single candidacy for the leadership of the Conservative party with Boris Johnson willing unsuccessfully to return and Liz Truss being treated badly. One day we will find out who really called a fast one on her and the British People; watch this space. The entire thing smells… Pity! Every PM must know how to check his/hers Chancellor’s Budget; its like the DRC of ships… Check it…
Lula, made a comeback to Brazil, but only just and let’s see how his presidency will evolve this time as 210 million people simply have a future given Brazil’s natural resources and other plusses!
China’s Xi Jinping retained his position but he must be careful not to confront the USA and its allies over Taiwan and other issues in South China Sea, as the Western World this time might retaliate and give an end to Globalisation, thus leaving China in tatters… Western Nations Protectionism over manufactured goods in China against their own economies might floor down Xi and his likes… You never ever know…
Missiles tests in the Korean peninsula might cause troubles and Japan might be more than concerned this time…
Will Netanyahu form a government? What will this mean for Israel and the entire Middle East Peace Process?
What can we expect from COP27 in Egypt’s Sharm el-Sheikh?
The G20 might be a decisive one given Planet Ocean’s dozens of issues… Leave the experts save the Planet from Climate Crisis…
On another tone and note:
What a successful World Travel Market that was in London’s ExCel Centre. The big splash was Greece, then Italy, Japan, Brazil, Egypt, and others trying their best. Greece had an excellent stand, with a very ergonomic lay out and dozens of visitors all the time; never ever seen this before. Advantage the Islands, supported by Greece’s mainland natural beauties. Congratulations to GNTO’s UK and Ireland director Eleni Skarveli and her team. More than worth attending the Greek Tourist Awards in Six Park Place St James’s street… AND what a surprise meeting Ireni Tzortzoglou after many years, the Master Chef. Bank on her!
The Seatrade Maritime Awards 2022 in London’s Guildhall was the talk of the town with Dorothea Ioannou of the American P&I Club making a big splash!
Diwali at HFW basement with WISTA UK’s president Monica Kohli on a great day, was yet another well attended event down at the Square Mile…
Decorex at Olympia was more than a success; well done Informa Markets.
Capital Link’s 14th Annual Shipping & Marine Services Forum in London’s IOD at 116 Pall Mall was more than a unique conference and oversubscribed; excellent!
The Centennial of the Greek Orthodox Archidiocese of Thyateira and Great Britain was celebrated with a Grand Banquet at London’s Royal Lancaster Hotel in the presence of His All Holiness Ecumenical Patriarch Bartholomew I.
On the 21st of October attended a very special lecture on Company Democracy Model delivered at QMUL by Prof. Dr. Evangelos Markopoulos who did his main research on this issue resulting in more than 50 publications, 10 postgraduate dissertations and 2 doctorate dissertations. It was also on his latest book The Company Democracy Model / Creating Innovative Democratic Work Cultures, co-authored by Hannu Vanharanta. https://www.routledge.com/The-Company-Democracy-Model-Creating-Innovative-Democratic-Work-Cultures/Markopoulos-Vanharanta/p/book/9780367745622
On the above day, as well as on the 24th of October I delivered two speeches on Knowledge Democracy and Leadership at the School of Business and Management in QMUL for its Master students, making an emphasis to Shipping and its Geopolitical impact.
The WISTA International AGM and Conference took place in Geneva, Switzerland from 26 to 28 October at the iconic Hotel President Wilson on the shore of Lake Geneva. Elpi Petraki, WISTA Hellas’ president, was elected President of WISTA International taking over from Despina Panayiotou Theodosiou who held the position since 2017.
Have a nice evening and weekend but continue to remain on guard from actions emanating from Pirates, Terrorists, Criminals and any Business Hooligans whatsoever wherever you are on Planet Ocean. Once again a big THANK YOU to all who really care for all humans – Doctors, Nurses, Seafarers, Dockers, Port Authorities et al during this Coronavirus disaster!! We repeat: Do please invest in Hospitals including Equipment, Doctors, Nurses and any useful means to avoid further disasters! Become more disciplined and care for the Environment too. As for the mess in Ukraine, we repeat: you have not seen anything yet as well as its spread…
Lastly: Education and Training for all to be able to tackle these disasters. Let us work collectively together and NOT opt for a fistful of Dollars to restart the already collapsed global economy… which now has surpassed the US$ 400 (four hundred) trillion debt.
