Early Dry and Wet Market blues…

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John Faraclas

Did I hear you say shipping business intuition, eh??? The BDI (Baltic Dry Index) despite a steady upwards …“spree” ended the day with four points down at 1,578, which on the other hand is 91 points plus since last week’s closing (1,487). The wets were both down. The Geopolitics are not just enigmatic, they have become more explosive than ever in all fronts all over Planet Ocean! John Faraclas’ daily and weekly market recap:

The Capers were down 41 points since yesterday and the BCI now reads 3,145  points; on a weekly basis though the mega-size was up 274 – from 2,871 points.

The Panamaxes, our most favourable and promising size saw it’s BPI down five points at 1,643 and on a weekly basis same was up 37 points – from 1,606…

The Supras’ BSI on a very steady month stood on a daily basis at 1,126 – that’s ten points up; on a weekly basis 57 points plus made the good difference (from 1,069)!

The Handies too on an upwards trend with its respective BHSI gaining six points at 679 points on a daily basis and 30 points plus on a weekly basis – from 649…

So all in all an uncertain, volatile and enigmatic Dry market; end of the story. Be cautious and remember we are still 669 points down from the 31st of December 2013  2,247-points level! From the beginning of the credit crunch and the collapse of the shipping markets – 2009 and 2016, until today many companies have gone under, many shipyards vanished so to speak and US$ 50 billion (fifty billion) were actually lost (we give you here the minimum equilibrium lost).- Have this in mind and be prepared in case the up and coming stock markets collapse too. You see the consumer power is being lost as the plastic money debts run possibly to a… few trillion dollars… You all know our position that shipping, slowly but steadily becomes shipping for the very very very few! Did I hear you say NPLs?

The Wets ended falling; the last published BDTI (Dirties) and BCTI (Cleans) lost five and nine points respectively at 902 and 531. On a weekly basis the Dirties were up 32 points up (from 870) and the Cleans down 42 (from 573)…

The WTI at US$ 51.41 – a day that the fluctuations varied from US$50.71 to US$ 51.57… As we have always mentioned, we need to see the WTI not a nickel over the US$ 50 mark; otherwise expect the poor masses to be in financial difficulties affecting us all!

In the Geopolitical front things are turning nasty… more news later on tonight on the Migrants, The Wars in Syria and Iraq with the remnants of ISIS continues, the only good news from there is that Raqqa – the so called capital of the ISIS (Islamic State) is about to fall to the American led coalition;  The Kurdish saga developing and despite the negative views of international bodies vis-a-vis the Referendum and the declaration of a Kurdish Sate in Northern Iraq – to begin with, the Kurds are determined and look forward to one mega state with its parts in Iran, Iraq, Syria and Turkey…; Turkey’s megalomania and deceit to all, Greece’s …”salvation” so to speak continues and the Geeks day by day become poorer, the BREXIT mega issue dominates the news as it will billions of people and many nations economies, the Catalonian saga in Spain and many more other issue which continue to twist and turn our lives. In the USA president Trump has a Herculian task to look at… You see there are hundreds of domestic and international issues he has to tackle… In the Pacific, the North Korean issue still remains a threat for all…

Burcin Bedford with Dave Matcham

On another note we were privileged to attended briefly the launching of the latest edition of IUA’s London Company Market Statistics Report 2017 and have a very interesting discussion with Dave Matcham – the IUA’s CEO and his colleagues Burcin Bedford  – statistics and data co-ordinator and Scott Farley – director of communications. See respective news report here.

These briefings are very important as the reports these institutions produce greatly support us in our risk assessment for business of any kind. With the BREXIT talks in progress it is worth mentioning an interesting paragraph from the CEO’s report: ” Our statistics have also been extensively used in wider London Market conversations with the UK government ahead of Brexit negotiations. With an up to date and comprehensive picture of our sector we have been able to illustrate clearly the economic necessity to both sides in the discussions of establishing an effective new trading relationship “.

l to r: Joanna D’ Este Clarke, The Greek Ambassador Dimitris Caramitsos-Tziras, Thalia Petridis the GPA ‘s director (standing), John Kyriakides, Dr. Liana Giannakopoulou, Tom Holland and Vyron Karydis

Social life in London combined with a bit of business is always a must to follow and participate, particularly when it comes to the press, media and its people. We were more than privileged to participate in a dinner to honour the arrival of the new Press Counsellor at the Greek Embassy, Mrs Elena Soupiana. The well known from the Hellenic Engineers Society of Great Britain (HESGB) Greek Larder restaurant / taverna  was the venue with its excellent dips, drinks and main plates too, add on top the very Greek atmosphere and you can imagine what happened on the left side section of the restaurant with many international faithful…

A view of the main two tables

It was also nice to meet the new team in Ms. Soupiana’s team, her colleagues Petty Syriopoulou, Nancy Andriopoulou and Alkis Delantonis; welcome to all!

Except the many Greek journalists present we had academics, authors, financial consultants and high level government advisers, diplomats,  former politicians, medical doctors and others from other professions forming a lively group.

 

Anny Zade, Nancy Andriopoulou, Vicky Pryce and Elena Soupiana

Good to meet Joanna D’ Este Clark,  the author of the book “Plunder and Intent” about the Parthenon Marbles for which we are soon going to have the book launching preview!

Remind you, and do please ink your diary for another event coming up in London, that with Tonia Vasilopoulou – Tsaoussis, the Marketing Director at St George’s Lycabettus in Athens, at a special touristic evening which, will travel you around the world, through the launching of her book ‘Suite Home Escape’.  Log on in  https://www.suitehome.gr/travel-articles … To be held at the prestigious private club The Century on the 7th November, with an exclusive guest,  Mrs. Olga Kefalogiannis, PM, former Minister of Tourism, who will open the presentation, promises to be a great event.

Suite Home’s book cover

All the book proceeds will go to towards the cause of  Elpida Youth    http://www.elpidayouth.gr/?lang=en   . Although entrance is free, there are limited places available, so book your place by RSVP to Sofia Konstantopoulou, email: sofiabutterfly@hotmail.com by the 5th November to avoid any disapointment.

Have a nice weekend and  be on guard for any eventuality emanating from Pirates and Terrorists wherever you are on Planet Ocean – as you have unfortunately witnessed over the last two years, nearly everyday there is a deadly incident everywhere. Add that there are thousands of terrorists ready to strike; a major headache for the Police and Security Forces all over Planet Ocean, so be on guard!

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