John N. Faraclas
The following are the main points from the latest John Faraclas live interview to Panos Thomakos on SBC TV last Friday the 25th of January 2013:
1.Following another Moundreas’ vido on the markets and trade situation, Faraclas reiterated his view on the low market which as yet is not sustainable and the BDI dropped below the 800 point mark to 798 points (from 838), re-affirming his view that the market is in dire straights! The market is week! All indices were down, in red! He compared a fixture of a 180, 000 dwt at US$ 9, 500 per day on a t/c. The same size vessel was getting in May 2008 US$ 155-180, 000 per day!
2.He analysed the Markets and China in particular and moreover he explained that figures are still low. The overcapacity and other issue will continue to affect the markets, as well as the worldwide recession and austerity patterns.
3.He explained what is privatization and how same should work, particularly on the ports issue. Moreover he condemned all greek administrations and that have also been the tool and vise-versa of the Unions. The Public Corporations in Greece where serving voting and voters interests! He praised the good Unionism, particularly the American one. He also went further on to support good unionism. A twenty to thirty years privatization program has failed as the Government, any Greek Government was never ready, willing and able to deliver – the RWA vs. the RWAD issue! He raised the issue of the port of Astakos and why the project there failed. He supported that the best investors to take over the ports are the private Greek interests. He also explained that the public ignores even what’s up for the Port of Piraeus vis-a-vis the position and development of the rail for proper logistics.
We look forward to our viewer comments. As usual there will be a translation into English and viewers can log on here to listen:
