Markets

Turkey headed for debt default, In Conversation with Richard Berner

Turkey headed for debt default, In Conversation with Richard Berner

Commentary: Turkey headed for debt default

By Desmond Lachman in Washington

Behind Argentina, Turkey has the dubious distinction of having the world’s second worst performing currency. President Recep Tayyip Erdoğan’s mishandling of his country’s currency crisis heightens substantially the probability that Turkey will soon default on its external debt. At the heart of the swooning Turkish lira has been the loss of domestic and...

http://www.allaboutshipping.co.uk/2019/05/14/turkey-headed-for-debt-default-in-conversation-with-richard-berner/

US electoral politics, Darrell Delamaide on possible Fed rate cuts, and more

US electoral politics, Darrell Delamaide on possible Fed rate cuts, and more

6 -10 May 2019 Vol. 10 Ed. 19

COMMENTARY 

Fed should focus on winning over public

The Federal Reserve’s review of its ‘monetary policy strategy, tools and communication practices’ offers an opportunity to examine questions surrounding ‘independence’, writes Mark Sobel. One its goals should be to win over the public, rather than fascinate markets and high priests of monetary policy.

Read more.

PODCAST

In conversation: Richard...

http://www.allaboutshipping.co.uk/2019/05/11/us-electoral-politics-darrell-delamaide-on-possible-fed-rate-cuts-and-more/

Baltic’s Dry and Wet Markets …“remain” buoyant

John Faraclas

Baltic’s day and weekly Dry and Wet Markets …“remain” buoyant

The BDI (Baltic Dry Index) “managed” to capitulate on its volatile nature and succeed in going over and above the 1,000 points mark; at 1,013 looks better… plus 39 isn’t bad at all. The weekly gains were 28 points – from 985 since last Friday the 3rd of May. Geopolitics continue to get messy… John Faraclas’ daily and weekly recap:

The Capes’ BCI was once again dominating the dry market with rich pickings; 101 points plus...

http://www.allaboutshipping.co.uk/2019/05/10/baltics-day-and-weekly-dry-and-wet-markets-remain-buoyant/

Daily Overview of Global Markets & the SEE Region (Friday, 10 May, 2019)

Daily Overview of Global Markets & the SEE Region (Friday, 10 May, 2019)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS:   Market worries over further escalation in the US/China trade war are on the rise after the US administration decided to raise tariffs to 25% from 10% currently on more than $200bn Chinese imports. The tariff increase came into effect today at 04:01 GMT and China vowed to retaliate with “necessary countermeasures”. The good news is that China has not left the...

http://www.allaboutshipping.co.uk/2019/05/10/daily-overview-of-global-markets-the-see-region-friday-10-may-2019/

Performance Shipping Inc reports results for Q1 ended 31 March 2019

PERFORMANCE SHIPPING INC. REPORTS FINANCIAL RESULTS  FOR THE FIRST QUARTER ENDED MARCH 31, 2019

ATHENS, GREECE, May 10, 2019 – Performance Shipping Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today reported a net loss of $0.2 million for the first quarter of 2019, compared to a net loss of $3.9 million for the same period of 2018.

Time charter revenues were $5.5 million for the first quarter of 2019, compared to $8.0 million for...

http://www.allaboutshipping.co.uk/2019/05/10/performance-shipping-inc-reports-results-for-q1-ended-31-march-2019/

Market’s volatility continues…

John Faraclas

Market’s volatility continues…

The BDI (Baltic Dry Index) gained 34 points – now standing at 974, and looks likely that same might go over and above the 1,000 point threshold – the psychological four-digit barrier. Geopolitics continue to be messy and as we have warned: expect imminent warring developments. John Faraclas’ daily recap:

The Capes’ BCI “returned” to its three digit euphoria gaining 111 points and going over the 1,200 points threshold at 1,270! Caution though as we are...

http://www.allaboutshipping.co.uk/2019/05/09/markets-volatility-continues/

The BDI @940: volatility knocks …yet again!

The BDI @940: volatility knocks …yet again!

Strange “developments” with ups and downs for both the Dry and Wet Markets. Geopolitics hotting-up. John Faraclas brief recap:

The BDI (Baltic Dry Index) gained four points thanks mainly to the volatile Capes’ BCI which clinched forty points and now reads 1,159.

The Panamaxes BPI was down one at 1,188 points.

A copy-paste for the Supras’ BSI like yesterday gaining another nine points and now reads 770!

The Handies’ BHSI remains stranded at 382 since last...

http://www.allaboutshipping.co.uk/2019/05/08/the-bdi-940-volatility-knocks-yet-again/

Daily Overview of Global Markets & the SEE Region (Wednesday, 8 May, 2019)

Daily Overview of Global Markets & the SEE Region (Wednesday, 8 May, 2019)

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS:   Taking their cue from Wall Street’s losses overnight, Asian bourses lost ground in today’s session and European equity markets opened lower, amid increased uncertainty over the outcome of the US/China trade talks. The Chinese delegation is still set to visit Washington for a new round of talks on Thursday and Friday, in an attempt to avoid a tariff increase...

http://www.allaboutshipping.co.uk/2019/05/08/daily-overview-of-global-markets-the-see-region-wednesday-8-may-2019/

The Markets: Dirty Capes have it; Geopolitics more than perplexed and Seatrade Awards spectacular change the mood!

John Faraclas

The Markets: Dirty Capes have it; Geopolitics more than perplexed and Seatrade Awards spectacular change the mood!

The BDI (Baltic Dry Index) fell 49 points – same more or less fall with last Friday’s the 3rd of May when it fall 47 points, and now stands at 936… The geopolitical uncertainty and imminent threats all over Planet Ocean MUST be watched and followed by all before it is too late! The Seatrade Awards spectacular at London’s Guildhall indeed changed the mood. John Faraclas’...

http://www.allaboutshipping.co.uk/2019/05/07/the-markets-dirty-capes-have-it-geopolitics-more-than-perplexed-and-seatrade-awards-spectacular-change-the-mood/

Failure to check charterparty wording catches ship manager off guard

Failure to check charterparty wording catches ship manager off guard

International Transport Intermediaries Club (ITIC) has urged ship brokers and managers to check the terms of their charterparty agreements closely before signing, in order to avoid costly mistakes further down the line. 

By way of illustration, ITIC cites the case of the manager of a tanker entering West African waters who believed that the terms of a charterparty provided that armed guards were to be appointed at the...

http://www.allaboutshipping.co.uk/2019/05/07/failure-to-check-charterparty-wording-catches-ship-manager-off-guard/

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