Panamaxes “join” Capes in pulling down the BDI@657

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John Faraclas

The BDI@657; Capes and Panamaxes fall…

Panamaxes “join” Capes in pulling down the BDI@657

The BDI (Baltic Dry Index) was down seven points; Geopolitics remain dodgy and perplexed. John Faraclas’ brief daily recap:

The Capes lost 34 points and the BCI now stands at 236 points… Believably unbelievable but true!

The Panamaxes’ BPI “joined-in” with the BPI losing a dozen points and now stands at 926… Correction?

The Supras and the Handies managed even with a single digit to remain “afloat”; the BSI was up seven points at 790 and the BHSI was up five points at 418…

Both Wets fell; the last published BDTI (Dirties) and BCTI (Cleans) stood at 753 and 584 – minus one point respectively…

The WTI was up 44 cents at US$ 56.66… Caution!

All in all a weak market and let’s hope things will change – that’s the wishful thinking as with a new global recession approaching things can get even worse given not just the debt of US$ 250 trillion bringing down Planet Ocean to pieces… but also the geopolitical mess and political stubbornness all over…

Migrants maintain the top position with many still drown whilst attempting the crossing from Africa, Asia – Anatolian coast to Europe… The EU has spectacular failed to halt all north African nations in “allowing” floating objects to leave… Same applies for Turkey as Turks supposed to be law obedient nation…

Turkey stirs up not just the Balkans and East Med as well as a periphery of 1,500 miles but also makes it a mess within NATO and the EU! Any objection! Who’s  Turkey’s patrons eh!

Greece lives difficult times with its people expecting better days but with these current regimes and the possible new one, NOTHING will change. Greece needs a total face-lift! A country to watch as well as its periphery… With a double election process – Municipal and European as well as a third looming in the background everything is possible! Nothing can be ruled out!

The Balkans will always be the tinder-box of Europe, never ever forget this… No matter the NATO and European perspective for those nations that are still aspiring same things are not going to be rosy!

Italy in a financial mess; too much needed to cover US$ 2.7 trillion debt … France very close at US$ 2.5 trillion… Germany now at US$ 2.2 trillion and the United Kingdom with 1.97 trillion… you can get the message…

BREXIT already shakes up the entire Planet Ocean, whatever the end game… You all now the RWA and the RWAD, eh! Nothing is in place for a mutual RWA/RWAD and we in this column blame both sides…at the dire Straits of Dover… Shame! Wonder who’s gone to pay the damage… there isn’t any excuse whatsoever… we would like to see the perpetrators of this mess to seat in the International Court of Justice! As the time approaches for the Day of Reckoning everybody gets geared to protect its interest. Remember: some people feel the rain, others get wet; and this is precisely what is going to happen… Gaining time with delays only burdens the tax payers all over Europe and the collateral damage will affect all 7.7 billion people all over Planet Ocean…

Catalan separatism in Spain is still on and you need delicate mediation to have all sides happy and avoid the big change as same will trigger many of the kind others dream in other European enclaves…

Watch out the Russian – Turkish approach…

Be careful for developments in the Middle East and its periphery… What a dodgy situ…

At the other side of the Atlantic things have gone beyond imagination; financially the USA’s trade deficit hits 10 year high despite president Trumps attempts to contain and reduce same… Have the Tariffs paid off and his approach to key trading partners helped even an iota?  As you read these lines we stand for a worse record in a decade – from 2008 with the largest deficit… With the USA-China trade doing well and reaching record levels close to US$660 billion despite tensions what can the middle-man in the street has to say… Still though these two have to divide a different Pacific basin policy at least on four fronts…. Caution as this will affect the Shipping trade… Did I hear you say North Korea? Well sometime you either go for the balcony tactic or you nicely walk out but you must ensure the other side and its patrons get the message o else… Whose behind Mr. Kim in North Korea? Add the issues the president is facing in his own court with many more to come… Will he survive the term? What’s his counter? Wonder also whose having sympathy for Cohen…

Putin’s Russia continues on another agenda which could turn dangerous for all… Only shipbrokers can counter to both Putin and Trump; end of the story – you dead well know what I mean!

In the Subcontinent things are getting sour; Narendra Modi has to keep his cards close to his chest as Hindu nationalism might go beyond and he has to counter to  Imran Khan’s innings so to speak… Kashmir so long China is also involved will remain a thorny issue and as said above you need first class shipbrokers to sort out this mess. On  any S&P deal everything rests on how you construe the recap  – insertions and deletions must make sense and correlate with the exchanges in reaching agreement – a square deal having both sides happy! End of the story; nukes can play also a significant role…

In South America the Venezuelan saga continues; poor people… Caution as dictators of any ideological colour can turn nasty… Maduro is one of them… Can the army desert him? That’s the key for the fall of any dictator of Maduro’s calibre… Let’s hope he is a patriot and steps back – the wise thing to do!

Japan: a nation to watch as in this melee the Japanese have a say and will do so…

As the Carnival is on and the Bauta being the name of the game I guess it is about time you all read The Venetian Mask, the “Bauta” as a political asset – the unique book of our friend Marie Ghisi…Ah! The Bauta is for men , for women …err ladies the Moretta”… The “funny” thing is – and it remains an enigma to most that they were not just worn just for the Carnival, but year round..!

More Geopolitics tomorrow in our weekly recap… with more from Africa and Australia..

The panel; l to r: The Hon. Sir Bernard Eder, John Kimbell QC and Robert Bight QC

On another tone and note we had an interesting debate tonight organised by the LSLC – London Shipping Law Centre; The Admiralty Bar Group – ABG at the IDRC premises debated the Alkyon“Ship Arrest after the Alkyon: is counter-security just over the horizon?”  In the Alkyon, the Court of Appeal recently recommended that the views of the maritime community be obtained on the question whether counter-security should be posted upon ship arrest. In order  that the opposing views can be heard the ABG made it possible for the debate to be a memorable and humorous one. For counter-security: The Hon. Sir Bernard Eder  – Essex Court Chambers; Against counter-security: Robert Bright QC. The event was chaired by John Kimbell QC from ABG.

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Indeed it was an important chance for market sentiment to be gauged before any rule changes are recommended by the Admiralty Court Users’ Committee so it was good we had a full house there with seven questions and many afterwards at the drinks and dips reception. An interesting paint by Timothy Denton QC was auctioned; a lovely partridge. The proceeds go to the Brain Tumour Charity he set up. Unfortunately he couldn’t attend the event as he has the tumour himself. We wish him best! Our thoughts with him and his wife Annabel. A very touching moment for all!

From the auction procedure; well done by the Hon. Sir Bernard Eder

That’s all for tonight; have a nice evening and remain on guard from actions emanating by Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean!  Tomorrow is the International Women’s Day!

 

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