Home Markets Caution for all aspects in Shipping, with discipline to all intents and purposes being the name of the game!

Caution for all aspects in Shipping, with discipline to all intents and purposes being the name of the game!

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John Faraclas

John Faraclas

John Faraclas’ live interview to Panos Thomakos at SBC TV studios last Friday the 4th of January 2013, tackled the following issues:

1. The low market levels with the BDI reaching even below the 700 points mark (698). The 4 points rise to 702 was though a welcome sign in an otherwise turbulent year ahead!

2. He explained which companies, listed or not will go through the dire straits of the markets, explained in his view the case of an oval and not a cyclical market. Moreover he insisted that all fixtures should b via the Baltic.

3.  He also gave the reasons why we might see even state or national shipping companies due to the high Daily Running Cost of ships as well as the high cost of fuel and diesel. One issue fully analysed was the Far East/China related trade which dominates the markets but also make the western economies go close to bust!

4. He commented on both videos shown, one on the freight market and one on the Maritime Tourism/Cruise Industry with Piraeus expected to receive 710 cruise vessels! He had a few disagreements on both; on the freight markets thing could go worse and also that the most capable shipowners listed or otherwise ill survive given that the winners have A1 class shipbrokers and charterers!

5. He then gave his views  -a continuation from the  last interview on the new law to be proposed in Greece’s Parliament  with respect Shipping matters and policy, Ports etc., disagreeing with its content and asking that same should be withdrawn! ! Time will tell he said!

We look forward to our viewer comments. As usual there will be a translation into English and viewers can log on here to listen:

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1 comment

Yannis Voudouris January 8, 2013 - 7:32 PM

Always precise and descriptive Mr Faraclas.

three issues:
1. You raise the issue of industrial production in Europe. How can we calculate the benefit of the intra-european production in relation to the freight costs we save? Moreover, what are the environmental burden if the globalization?

2. unfortunately, we have to insist on the maritime education; not only for the seafarers but for the lawyers and the brokers as well.

3. What would be the ideal social and political responsibility of the Shipowners’ Union towards the Greek society? The dilemma of an ethical man, living in an unethical society is: a) to stand and fight or b) to depart and become a hermit.

So, Greek shipowners continue to be an unorganised profession working in a globalized world, and they avoid addressing their fundamental duty towards the society: to become a real and influencing guild that will assist the country with their liquidity and investments.


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