The BDI@1,031: between Scylla and Charybdis…

Chartering, Dry Bulkcarriers, Fixtures, Markets, News, Reports, Sanctions, Shipping Indices, Stock Markets, Tankers, Trade and Commerce — By on November 16, 2018 at 11:57 PM

John Faraclas

The BDI (Baltic Dry Index) clinched another 11 points (same as  yesterday…) but remains down once again on a weekly basis. Geopolitics: between the devil and the deep blue sea… John Faraclas’ daily and weekly recap:

The weekly loss of the BDI was 116 points – down from 1,147 recorded last Friday the 9th of November. Only the Capes “bounced” back on Thursday and today, all others indices were down…

The …“enigmatic” Capes’ BCI stood at 1,057 – plus 50 points but the BCI was down on a weekly basis: a triple-digit 304 points – from 1,461 points… Caution as events do not excuse these extra 117 points over the last two days… Time will tell…

The Panamaxes’ BPI lost 13 points and now stands at 1,453 – the … “fall of Constantinople…” on a weekly basis the index lost 42 points – down from 1,495…

Surprisingly the Supras’ BSI was down just a point following yesterday’s 12 points drop and now stands at 969 points; the weekly loss was 34 points..

The Handies’ BHSI stood at 646 – minus three and minus ten from last week’s 656 points…
Mixed daily results for the Wets with the last published BDTI (Dirties) and BCTI (Cleans) standing at 1,099 plus eight and 649 – minus two respectively. The weekly figures were “promising”: plus two (from 1,097) and 15 (from 634) respectively

The vexed question remains with the WTI: up a bit today at US$56.80 but down – thank Posidon from last week’s US$ 60.18! There’s a lot to bother us with the oil prices… Caution.

VesselsValue head of Offshore Charlie Hockless send us the following interesting report on  Tidewater & GulfMark’s consolidation creating the largest OSV fleet:

The consolidation between GulfMark and Tidewater is a positive for the market. With Tidewater’s steadfast and unyielding attitude towards the scrapping of non-performing vessels, this is a good chance for the market to reduce some of its oversupply. Hopefully with this new entity taking the lead, other market players might follow suit.


It is also important to note that consolidation in today’s market only works if lenders are willing to take haircuts and provide an opportunity for these companies to start afresh with a clean balance sheet. In the case of Solstad Offshore, they undertook restructuring and consolidation as well. However, without a clean balance sheet, problems are only going to resurface further down the road. Bourbon is another major player who have struggled to service their debt and are actively looking for financiers. Kicking the can down the road is not a viable option in this market.

See below for the spread of Tidewater and GulfMarks live OSV fleet

On the Geopolitical front expect the despicable MIGRANTS issue, the Wars – both on the platoon and trade wars to continue and we suggest you are on alert… Expect spill overs…

The Syrian and Iraqi mess doesn’t appear much in the news but things are getting worse there as you might well understand. West vs. the East. Playing the …tape fast forward wonder when the rebuilding of Syria in particular begins and by whom… The Greek dogma and maxim remains unaltered: “War Father of all”; if you don’t destroy you cannot rebuilt. This is the pitiful message from history!!!

Israel’s defence minister’s resignation doesn’t look right; pity… Too many issues and more problems are added in  the Arab / Israeli conflict… Pity!

BREXIT proved to be the issue which will affect us for the years to come on many issues whatever happens. Despite the cabinet’s agreement last Wednesday we had resignations and threats to topple Mrs. May; shame. – We also saw a supportive attitude from other ministers trying to save the day and above all the United Kingdom… It will be very difficult; it will be a blow by blow situ so to speak…

Italy is also on the brink of nasty developments as Brussels disagree with the Italian Budget; caution… as the Italian won’t back-off! They know best how they can “bully” the Brussels …”fraternity”…

Greece still in a mess both internally as well as on its foreign affairs  destiny “chart”; the populists strangulate the public and with elections looming in the  background lies on par with those of Baron Munchausen fly here and there. We urge the Greek politicians to remember that promises make debts and debts make promises… We reiterate the view that only an Aristos team can govern for ten years whilst streamlining the entire system is beyond a necessity with a UK electoral law to apply – we have explained this in full (writing) and live on TV! The foreign affairs of Greece are still muddy… all around – you dead well know what I mean! On both issues expect developments and with the coming anniversary of the Athens Polytechnic we might all witness “unexplained” mess…

Turkey continues to bully not just Syria, Iraq but still in a very nasty and unprecedented way Greece – a NATO member too as well as Cyprus, the second EU nation being bullied by Erdogan’s menace… Let’s see what happens with the Exxon Mobil at block number 10 as Ankara raises the stakes… Let’s see how the USA reacts… CAUTION!  Meantime Turkey continues to stir up the Balkans  in any way you can imagine… Expect the worse unless the USA here and now reprimands the Turks… Add the Albanian and fYroM issues in the region and see what you get.

We live in a very warring climate, worse than that of the Cold War… Add Planet Ocean’s financial bankruptcy and see what you get!

Transparency is another issue and some new-comers  in the European Union  – emanating from the former iron curtain countries,  must get their act together…

At the other side of the Atlantic, the wildfires in California in the west coast of USA are more than a concern!  Too many missing – over 1,200… President Trump has also many external issues to deal with: Iran, Saudi Arabia, China to name but a few… Ah! AND Turkey too… Awaiting the end “result” from the Honduras’ caravan saga…

In South America now and in Brazil where Cuban medical doctors are pulling away after some remarks by president-elect Jair Bolsonaro…

In Africa a very strange explosion  in a bus leaves 42 dead in  Zimbabwe; arson, terrorists or what?

In Asia the Khmer Rouge trial verdicts are very important despite decades lost… The genocide in Cambodia was, is and remains unique… The two Pol Pot leaders have been finally convicted!

China ties to re-assert itself and the clash with the USA will be inevitable… China raises the stakes with all its seawise-based neighbours… CAUTION! Japan closely watches…. India has other grave issues … Massive problems there in the mighty subcontinent!

Lets wait and see and read about the derailed train in Western Australia…

Dr. Panayotis N. Soucacos

On another note and tone we had an excellent presentation tonight at the Hellenic Centre’s Main Hall organised by the Hellenic Medical Society on “Unravelling Anomalies the Mysteries of Congenital Anomalies of the Extremities: from ancient mythologies to modern medicine” by Dr. Panayotis N. Soucacos. food for thought in font of an international audience

Afterwards a Greek feast took place at the nearby Real Greek were over twenty guests honoured Dr. Soucacos. That was the finale of an intense day with a conference on Paleo-oncology and particularly with cancer issues.

Congratulations to HMS’s president Dr Miltiadis E. Krokidis and his team for organising such a timely event given that cancer  strikes everywhere and we have to eliminate its advance!

From the Greek feast at the Real Greek

More news later on; until then have a nice evening,  weekend and remain on guard from actions emanating from Pirates, Terrorists and any Criminal whatsoever wherever you are on Planet Ocean.

_Uploaded 23:31 GMT

_Updated 23:57 GMT

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