BDI’s summer blues at 1,199 !!!!

At the end of the day..., Chartering, Dry Bulkcarriers, Markets, News, Reports, Shipping Indices, Statistics, Stock Markets — By on May 22, 2018 at 11:55 PM

John Faraclas

The BDI (Baltic Dry Index) lost another 40 points earlier on today and things might become nasty for the hoi polloi! Geopolitics are already creating chaos and we might see this time the famous point of no return. John Faraclas’ daily recap:

Just below the 1,200 point threshold the BDI might produce a monumental catastrophe for the lot but NOT for the capable shipowners.

The Capes’ BCI lost another triple-digit, 103 points  and the most perplexed and volatile of all dry indices now stands at 1,854 points – below the 1,900 threshold!

The Panamaxes were also down with the BPI at 1,239  – minus four points.

Hooray hooray, the Supras’ BSI gained three points and now reads 1.074!

Minus one point for the Handies’ BHSI now reading 590 points…

What a dry market eh!

The Wets due to the Geopolitical developments and the oil aspect were on an upwards mode; the last published BDTI (Dirties) and BCTI (Cleans) stood at  729 – plus 15 and 526 – plus one point respectively!

We stand-by our long time observation that Shipping is gradually becoming Shipping for the very very very few!  Newbuildings is the last resort but for the very very very few and with the coming unbearable overcapacity things will go crazy!  Wait and see the bankruptcies not only of some listed and non-listed companies, but of the remaining shipping banks… AND those Funds who didn’t do the appropriate homework…

The WTI as these lines are being written stands at US$ 72.29 – dangerous levels and if same goes higher expect messy situations and developments unseen…

The Geopolitical front coupled with economic and political developments gets worse. Never ever forget that we are at War; the Third World War is on! Those you opt not to get the message stand to lose almost everything.

Migrants, the Syrian inferno – soon the Iraqi one will follow, the long standing Israeli-Palestinian feud, the Iranian disagreement and non acceptance of the State of Israel’s existence – a very despicable attitude, the Turkish dreams to lead the Muslim World, the Iran – Saudi Arabia antagonism for control makes the Middle East THE place to witness unimaginable scenes; SHAME. Ah! add the wrong way of solving the issue by the US and see what you get – inclusive the different views of all the other permanent members of UN’s Security Council… The Balkans?  Turkey wishes to make the entire Balkans a place worse than Syria… Starting from pestering Greece and Cyprus in the Aegean and Eastern Mediterranean Sea, the exceptional blackmail to NATO and EU – and Europe at large and see how you will protect your vested shipping interests… A conflagration in the region might see once again the closure of the Suez Canal and let’s see how China responds as its shipping and  other interests will be severely harmed. Putin’s Russia will try to intervene too and then… well you know what is going to happen…

Greece will go though very difficult times….

Another major issue is the EU and its debts…. The Italians  might revolt and rightly so! EU convergence failed in its inception as for nearly four decades the gap between the so called EU north and EU South / basically MED EU, widens… We eagerly await the new Italian prime minister’s address to his nation and Europe… er Brussels…

BREXIT continues with the tour, this time in South America of UK’s Foreign Secretary Boris Johnston; he will explain and promote UK’s vested interests “after” BREXIT, and rightly so!

At the other side of the Atlantic president Trump is fully busy – up to his eyebrows, particularly with the North Korean saga which seems his North Korean counterpart might postpone. Shame as we all know how this meeting will defuse tensions and see shipping flourish, as, yes as, if things go wrong trade in the entire Far East region will, not just, be affected… disrupted… CAUTION! we are also closely watching Japan’s reaction to all these happenings…

The MH370 saga continues and we hope that one day the truth will shine; a despicable act of suicide by its pilot according to the view former Canadian air crash investigator Larry Vance or something we MUST NEVER EVER  find out… Remember: nothing can be hidden under the Sun…

Another saga begins at the most inappropriate time given the GDPR “Rules” coming into ” force” this coming Friday the 25th of May; the Facebook‘s founder Mark Zuckerberg testimony – which didn’t pleased   A T   A L L  MEP’s,  must be thoroughly investigated. Apologising to EU lawmakers for Facebook’s role in the Cambridge Analytica super scandal and above all for allowing fake news to proliferate on its platform. This was a deliberate act, no excuses Mr. Zuckerberg. We love Facebook, but we hate such “incidents”. I bet you that the day the truth will shine you will not have a place to place your conscience! Add the fact that we totally object to the testimony given as same was very different from that given to the USA’s lawmakers last April… By the way we are not quitting Facebook, we have nothing to hide in our private life or that of allaboutshipping’s !!!!!

More news tomorrow…

Danae Bezantakou introducing the event

On another  tone and note at the Port of Piraeus on board the “Hellas Liberty” – the place of reference over the last five years, Danae Bezantakou and her team organised  a pre-Networking Event for the Yes Forum. With nearly 200 attendees the event was more than a success. Panellists  included the very eloquent Manoli Vordonis, Captain Dimitrios Tsakonas with his very touching Liberty ships experiences, George Tsouris, president of the Chios Marine Club with an extended but worth to listen presentation and Capt. George Xyradakis with his encouraging style attracting a great applause from the audience. The XRTC’s and Propeller Club head wasn’t just unique, he was – for those who know him, more than pragmatic!  Good to have also Captain Evangelos Kouzilos,  president of the Masters and Mates union, Radm (HCG) Nikolaos K. Armpouniotis, Achilleas Choursoglou from AMMITEC, Kostis Achladitis and Pantelis K. Sarandis from Golden  Cargo, Ioanna K. Martinou from Thenamaris, Maria Mavroudi from Seascope,  Katerina Fitsiou from XRTC, Dr. Panos Nomikos from Danaos and many many others including members from the shipping media! The message has been passed on and we look forward to the main event of Yes to Shipping at the Posidonia Conference Hall on the 8th of June; I can assure you it will be a great Posidonia finale! Indeed hands up for the Young Executives Shipping Forum, a very big YES!

Have a nice evening and continue to be on guard from any eventuality emanating from Pirates, Terrorists and Criminals looming in the background wherever you are on Planet Ocean!


Uploaded 14:09 BST

Updated  22:10 BST

Second update 23:55 BST

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