Unsustainable BDI or what?

Chartering, Conferences, Seminars, Forums, Dry Bulkcarriers, London Shipping Law Centre, Markets, Military, News, Piracy and Terrorism, Reports, Shipping Indices, Statistics, Stock Markets, Tankers, Trade and Commerce — By on January 29, 2018 at 10:49 PM

John Faraclas

The BDI (Baltic Dry Index) ended the day by losing five points and now stands at 1,214; not a good start for the week. Geopolitics are getting all over Planet Ocean more perplexed than ever. John Faraclas’ daily briefing:

The Capers’ BCI “reduced” its rise to a dozen point and now reads 1,784 – the …only dry size with a rise…

The Panamaxes’ BPI was down seven points and now stands at 1,485.

Losses for both the Supras and the Handies; the BSI lost five points and went below the 900 mark threshold to 895 points. The BHSI was down four at 573…

Caution for all dry indices…

The Wets once again with mixed feelings; the last published BDTI (Dirties) and BCTI (Cleans) stood at 682 – minus one and 623 – plus 34 respectively!

The WTI as these lines are written stands at US$ 65.45 and might go a bit higher although a drop might happen – hopefully. Regret but this level is unacceptable for the masses, that is to say 95 centum of Planet Ocean’s population!!!

Geopolitics as said in the preamble are more than perplexed and expect a total mess in all fronts, be it the MIGRANTS or the entire Middle East and its wider periphery from Gibraltar to Afghanistan and from the Caucuses to the Horn of Africa, or BREXIT, the Turkish aggression, the Greek saga – internal and external, or the rise of Nationalism in the entire Balkans, the USA, China and Russia antagonisms, or the Pacific Rim counties mess, o Ian or the entire African continent and all Latin American world. Terrorism still, unfortunately though thrives! Did I hear you say Fraud??

The panel on a l to r: Stephen Kenny QC, Martin Hall, The Honourable Mr. Justice Teare, Les Chapman and Jason Bennett

On another tone and note, the long awaited event of the London Shipping Law Centre on “Current issues in General Average and Salvage” took place at the Clyde & Co’s auditorium. A full house as always listened to an excellent experts on both issues very detailed and interesting accounts: The Longchamp – the lettered Rules in the York Antwerp Rules by Stephen Kenny QC  at 7KBW; York Antwerp Rules 2016 – key points by Martin Hall  from the hosts Clyde & Co; The Role of SOSREP by the newly appointed director Les Chapman and Current Issues – Salvage by Ardent Global’s Jason Bennett. There were eight questions discussed and appropriately replied and a good debate between the panel chaired by The Honourable Mr. Justice Tear. The event was introduced by Nick Austin of Clyde & Co. A lovely dips and drinks reception followed until late with more questions …flying around and intense networking. We will revert with the full account, as always, soon…

Have a nice evening and continue to be on guard from any eventuality emanating from Pirates and Terrorists wherever you ae on Planet Ocean…

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