Falling BDI, WTI, Euro, Stock markets; rising Wets and international debt…

Associations, Chartering, Conferences, Seminars, Forums, Dry Bulkcarriers, Events, Marine Insurance, Markets, Reports, Shipping Indices, Statistics, Stock Markets, Tankers — By on May 29, 2018 at 11:04 PM

John Faraclas – picture credits by Georgina Lazaridis

The BDI (Baltic Dry Index) fell twenty points and now stands at 1,057; the Wets continued to rise but marginal; Europe with a possible Italexit ante portas and a weak Euro creating havoc amid Geopolitical chaos. Posidonia social and business events turn the tide to normality. John Faraclas’ brief recap:

The BDI now reads 1,057 points; any objection from the gurus and others – particularly financiers et al…? This is the fall – even for the time being!

The Capes well below the 1,400 point threshold; now at 1,324 the BCI with minus 71 points feels the adverse current…

The Panamaxes were also down; the BPI lost 24 points and now reads 1,163 points…

Minor, but loss for the Supras and the Handies; the BSI and BHSI were both down three and one point at 1,068 and 586 respectively!

The Wets continued their rise which …returned for both to a single-digit figure; the BDTI (Dirties) and BCTI (Cleans) now stand at 781 and 563 – that’s five points plus respectively!

The WTI dropped down to US$ 66.86, a good sign… Let’s hope for further …cuts!

The Stock Markets fell given the Italian crisis, a very serious one for all all over Planet Ocean – not just for the Eurozone or Europe and its periphery. If the Greek crisis was the explosive mechanism, the Italian one might be close to a nuclear detonation so to speak with 2.9 trillion euro debt… Just imagine… Add that no government is in place yet and see what you get!

All other Geopolitical events remain the same and we can guarantee you a Geopolitical upheaval this summer…

On another tone and note, the Posidonia 2018 events – conferences and receptions are on with excellent attendance and results!

George Xyradakis at the podium introducing the event; to his right Petros Kokkalis and Stavros Meidanis

The “Sustainable Shipping and BlueGrowth” event at the Vammos Bar Restaurant of “G. Karaiskakis” Stadium of the internationally known Greek soccer team Olympiakos, was more than a success with George Xyradakis, XRTC’s founder and Propeller Club Port of Piraeus president on a great day; his moderating skills and discussions on the theme greatly contributed towards the project’s goals. Visionary Petros Kokkalis  and very eloquent Stavros  Meidanis’ slides presentations were very informative. In the Q&A time that ensued three questions were …aired and a statement by us; very honoured to be given the chance by George Xyradakis. All of shipping’s stakeholders were duly represented including academics, bankers, brokers, journalists, port specialists, shipmanagers, you name it were there in full force!

Top of the range cuisine at the Vammos restaurant gratis Capital Ship Management Corp., with the exceptional viewing of the football pitch of Olympiakos. The discussions continued for another hour enjoying food, drinks and excellent sweets in an international atmosphere, hence the event was in English! We are sure that the end result will be equal to Piraeus Port three-millennia glorious past!

l to r: George Xyradakis, Theodore El. Veniamis with the United States Ambassador in Greece Geoffrey R. Pyatt

The second event of the day at the Yacht Club of Greece with George Xyradakis yet again on the wheel!

This very special Propeller Club, International Port of Piraeus ceremony event was the Award of Excellence to the Union of Greek Shipowners.

Costis Dam. Constantinou, general secretary of the Propeller Club introduced the event followed by George Xyradakis, president of the propeller Club who delivered an excellent and brief update of the Club’s activities and initiatives.

Then come the first vice-president Dimitri Patrikios with a short introduction on the UGS – Union of Greek Shipowners.

The ever present, iconic and ultra-eloquent fellow journalist, Mister Posidonia …err Themis Vokos delivered a special award justification speech/statement!

Pity that Prof. Costas Grammenos, due to an accident couldn’t be present but Propeller Club’s governor Katerina Andr. Potamianos delivered his special award’s justification statement on his behalf .

The Award presentation  to the UGS was delivered by H.E. the United States of America Ambassador in Greece Mr. Geoffrey R. Pyatt, Honorary President of the Propeller Club. It was a great and to the point but above all a very timely speech!

Then come the Thanking speech by Theodore El. Veniamis, UGS ten-year president; a very touching speech honouring Greece and its masters of the Seven Seas as well as his Motherland, that is Vrontados, Chios! Knowing him, his family and course in Shipping, I felt more than honoured for my compatriot friend and his achievements, particularly those for the Union of Greek Shipowners!

A few statements followed with the most brief and important one coming from Radm (HCG) Secretary-general Emeritus of the IMO Thimio El. Mitropoulos!

Afterwards a great cocktail reception took place at the veranda-deck of the Yacht Club of Greece overlooking the plain of Athens with over 400 guests; who wasn’t there! Live music too added to the tranquil views and enhanced the discussions, and as usual the pre-Posidonia networking! Add the Full Moon and you can understand the feelings too… Excellent!

from the concert; les Dragons d’ Alcala…

….AND the night, as they say, was still young and just managed to attend the third event on  Posidonia 2018 ! At the Benaki Museum, Pireos Street, a place of reference now, the HCLBA – Hellenic Committee of Lloyd’s Brokers’ Associates staged their event with a Classical Music Concert – something we never ever experienced before! The HCLBA’s head Maria Couliga-Pavlou and her team produced one of the most memorable  double Posidonia events and this one in particular for the 80th Anniversary of HCLBA! What a speech she delivered*  The Concert  with the Athens Academica Symphony Orchestra conducted  by Emmanuel Lorentzos left us all ecstatic and the guests applauded him like never before.

The Cocktail Reception at the atrium of the Benaki Museum bursting at the seams

The cocktail reception at the Atrium  with nearly 500 guests was great with  excellent catering by Deipnosophistirio! Who wasn’t there!

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

P.S: Despite being a dreadful day for Hellenism due to the fall of Constantinople to the Ottomans in 1453 –  565 year ago, the day was a celebration for the achievements of the Hellenes in the Shipping industry proving the grandeur of the Greek Nation and its shipping supremacy: Greece Rules the Waves!

* HCBLA MC 29052018

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