Capes: Champions of volatility “strike” back… BREXIT too… The USA too…

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John Faraclas

Capes: Champions of volatility “strike” back… BREXIT too… The USA too…

The BDI (Baltic Dry Index) was up 27 points earlier on today. Geopolitics continue to be perplexed and the Round Table Arbitration Debate of the LSLC event at Quadrant Chambers the best so far event of its kind. John Faraclas’ daily brief recap:

With the BDI  at 699 things “warm” up as the as ever volatile Capes hit back with 106 points plus and the BCI going over and above the 200 points at 210!!! Hooray !  All the other indices, dry or wet fell!!!

The Panamaxes’ BPI was down three points at 1,124…

The Supras’ BSI down  18 points at 757…

The Handies’ BHSI lost 11 points and now stands at 435…

Both the Wets were down; the last published BDTI (Dirties) and BCTI (Cleans) stood at 623 – minus nine and 676 – minus 33(!) points respectively!

All in all CAUTION… This is an enigmatic oxymoron and a challenging provocation for all… Obviously as we have on numerous occasions stressed: one size doesn’t constitute a market nor does it makes one either!

The WTI was down a bit at US$ 62.13 – from US$ 62.46 yesterday…. Still CAUTION until we see same at US$39.99 – the maximum, so that humans can survive!!

The Geopolitics still have as the number one issue still the MIGRANTS!!

BREXIT might produce tsunamis and we all need to use our good office and deliver what the people voted for in the referendum back in 2016; whether we like it or not 52 centum voted BREXIT. Now, whether they knew what they been voting for, this is another story. There is though a question to be answered: Why this “fight” in Parliament and all these resignations?? Still we maintain the view that the “system” called a fast on Britain; end of the system… Deadlines are deadlines; be robust, tough and fair and you will win Mrs. May!

The USA strikes back as Turkey interprets things the way it wants. Mike Pompeo was repeatedly very clear following his meeting with Turkey’s foreign minister Mevlut Tsavousoglou on the S-400, the F-35’s and Syria… Let’s see how far president Erdogan and his Turks can go… President Erdogan cannot accept defeat in Ankara and Istanbul following the municipal elections… CAUTION as Turkey is a bankrupt country and might strike out of the blue in order to make it a mess and “entertain” the bankrupt environment Turkish people will live in the next ten to twenty years…

Greece next door prepares us for a double election possibly a third one… CAUTION!

There are rumours that the USA and China might come to an “amicable” solution with the trade war… as well as other matters; we doubt it though…

More news tomorrow with the Friday double recap…

The Hon. Sir Bernard Eder incing the event

On another tone and note what an excellent event that was earlier tonight at Quadrant Chambers’ magnificent auditorium organised by the LSLC (London Shipping London Centre) on “A Round table Arbitration Debate”… one of the best ever of its kind. Chaired by The Hon. Sir Bernard Eder speakers included: the very eloquent and formidable Julia Dias QC from 7KBW; she masterly delivered the “Resignation in the face of confidentiality?” part! Halliburton v. Chubb: catch 22 for the unwary arbitrator!

A very well construed presentation by Coleen Hanley on “Should any limits be imposed on the scope of Section 67 challenges?”  the MV Pounda [2018]…

The final speaker come from the hosts; Quadrant Chambers’ Robert Thomas QC talked about “Section 68; Time for a change approach?” Excellent delivery!

There were nine questions – three during the presentations “enfolding” to an interesting debate!

At the drinks and dips reception – with excellent delicacies, the debate continued until late 21:00 BST… we will revert with the write up soon.

The panel; (l to r): Robert Thomas QC, Colleen Hanley, Julia Dias QC and the chairman the Hon. Sir Bernard Eder

Have a nice evening and remain on guard from actions emanating from Pirates, Terrorists, Criminals and Business Hooligans whatsoever wherever you are on Planet Ocean.

P.S.: AND remember: “we live in revolutionary times” – guess who said this earlier tonight…

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