BDI@1,668: spectacular fall or …pre-Xmas correction..?

Anniversaries, Chartering, Dry Bulkcarriers, Holidays, Markets, Music, News, Shipping Indices — By on December 14, 2017 at 10:45 PM

John Faraclas

We always maintain the view that in a certain global uncertainty and volatile market one has to be cautious as things can turn upside down and even one index’s fall can cause havoc for the hoi polloi… To the detriment also of the polloi from the shipbroking, analysts and guru fraternity this medium has been proven verbatim right. Today’s major fall in the Capers and the minor one in the Panamaxes is self-explanatory and expected. So with minus 62 points the BDI@1,668 points is on a …hogging position; waiting now for the sagging momentum… Meantime the Geopolitical spectrum becomes more than worse, the coming projections on all ten hot spots will create deadly tsunamis; we are living in interesting times. Despite all the above the pre-festive season sparks some hope for the very very very few who can foresee what’s coming up. John Faraclas’ daily recap:

The Capes lost 275 points bringing the BCI down to 3,936 points and unfortunately below the 4,000 threshold. Our warning goes beyond CAUTION…

The Panamaxes on a contained four points fall brings the BPI down to 1,714 points…

The Supras’ BSI gained just a point and  now reads 944 and the Handies with a two points plus brings the BHSI to 635 points.

A Dry …Dry Market …”widening” the gap to 569 points (2,247 on the 31st December 2013 – minus 1,668 points today).- There was a ray of hope that we could possibly witness the BDI above 2,000 points, but…

The Wets once again with mixed results, steady with respect the levels of change, but enigmatic… The last published BDTI (Dirties) and BCTI (Cleans) stood at 812 points – no change and 694 – up eight respectively.

The WTI approaches the US$ 57 level with a projection, in our view to go over and …above but that will be a minimal rise.

Anyway we still maintain that there is a major change in the pattern of shipping industry  and same coupled with technological developments – the latest HIMT in Athens’ Evgenidis Foundation by KEFI, fully proves our prognosis:  Shipping for the very very very few! What you don’t know, you cannot control; end of the story…

On another note, the pre-festive season is on and we witnessed the jovial mood prevailing despite the Market and Geopolitical conditions, in four events down-town Piraeus; the Piraeus Marine Club spectacular, the Bureau Veritas, DNV GL and RINA parties.

With Irene S. Daifas the president of the Piraeus Marine Club

The Piraeus Marine Club’s spectacular Christmas open house celebration attracted a few hundred members, friends and media …faithful, with guests arriving even earlier than announced in the invitation. The PMC remains, since May 1967 when its idea was conceived, the temple of Greek Shipping epitomising what is missing from other shipping centres, and that’s a fact. This is Planet Ocean’s real shipping cluster in its own right!

For us residing abroad is always good to pay …our respects whenever we are down town Akti Miaouli, attend symposia, meet with old friends and relatives – bankers, brokers, bunker consultants, lawyers, shipowners, technical consultants you name it and also, as always make new friends!

Internationally acclaimed saxophonist Dimitris N. Vassilakis

What a great festive buffet and drinks – our congrats to the chef and his team, unique live music by the exceptional Dimitri Vassilakis, the internationally acclaimed award winning Saxophonist and close friend who’s events we never miss in London over the last 15 years, nor in Greece whenever we are here!

Good to see amongst others Denis Venardos, Elias Tsakiris, George Xyradakis, John A.  Xylas, Natalia Margioli-Komninou, John Beloussis, George Alexandratos, John Sahinis, Sofia Falida, Pantelis Monogioudis, Anna-Maria Monogioudis, John Monogioudis, Michael Psomas, George Dalacouras, Dr. Jean-Pie Gauci-Maistre, Despina Xynou,  John Trifilis,  Epaminondas Logothetis, John Kokkinis, Manos Papakonstantinou, Michael D. Kokkinis, Fotis Theodosakis, George and Stathes Gourdomichalis, Andreas Callitsis, Michael Christodoulakis, Greta Christofilopoulou, Antonis Tsimplakis, Dimitis Kapranos, Markos Kantzios…

Joanna Liaskonis, Dimitris Liaskonis, Anny Zade, Stavroula Gavrids, Iris Liaskonis, Nicholas Faraclas and John Faraclas

Lastly we have to honour the entire personnel of the PMC and raise our glass to its president and friend Irene S. Daifas for the way she runs the PMC, Vasso Sella and Evripidis Salapasides and their teams for meticulously organising this annual special event!

Cheers!

Off now to a three-fold Classy-fication Society Christmas extravaganza parties all at Aetolikou Steet, just off the Piraeus Port’s waterfront!!!! 

DNV GL’s Ioannis Chiotopoulos and George Teriakidis

Starting at DNV GL just after 14:45 were over two hundred guests were enjoying the exceptional buffet delicacies, drinks and discussion including networking inside and outside at the large veranda with the magnificent view overlooking the port, given also the exceptional warm and sunny weather despite the fact that we are in mid-November…

DNV GL’s Dr. Marina Papaioannou with Katerina Stathopoulou

Many familiar faces from past Christmas events, including many from the Piraeus Marine Club’s open house event, were in full jovial mood!

Our hosts and their team from one of the World’s biggest Classification societies did their best to entertain us – we later learned that over 400 guests passed-by, and no wonder as Greece becomes after Norway and Germany the third home market !

DNV GL’s Konstantina Aravantinou, Anny Zade, Ioanna Gavriil and Angeliki Kalagia

We got some very practical gifts which besides their use depict the progress and success of DNV GL in ships and offshore business!

Excellemous!

Will revert with an update later on before midnight with pictures too as well as with a brief Geopolitical roundup. Until then be on guard from Pirates and Terrorists looming in the background wherever you are on Planet Ocean!

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