Home Banking World Shipping: Divefall? – Greek Shipping and Politics: Still in a mess!
John Faraclas

John Faraclas

World Shipping: Divefall? – Greek Shipping and Politics: Still in a mess!

The following are the main points from the latest John Faraclas live interview to Panos Thomakos on SBC TV last Friday the 22nd of February 2013:

1. On the Markets, Faraclas, following Moundreas’ weekly video on the state of the market (chartering, S & P, as well as the shipbuilding industry), once again reiterated that with the  BDI at 740, despite the rally of +2 and +3 over the last two days, closed down 13 point from 753(15 Feb 2013), and that’s a fact. Thomakos  said that there are contradictory views although it seems there is also a short of stabilization for the second half of 2013.  Faraclas said that all these analysts will never tell you what will actually happen. At best, Faraclas stressed that  he cannot trust them. It is the business intuition of the shipowner as well as the policy: keep your cards close to your chest! Let’s read what all those analysts wrote over the last ten years and what happened! We are in a divefall!

Thomakos on an  optimistic view “insisted” that something might good come out, but Faraclas was categorical that nothing good will happen… He mentioning that during the last IMIF business launch on 18th of February in the City, a meeting for 45 participants, Alan McArthy of Eurofin Consulting  was categorical on shipfinance: “If Banks are gone for good, what next?” and Shreyas Chipalkatty from Citi Group said: “What needs to change to make the sector bankable/financeable?”

There are no money. All the banks are more or less under. The German Banks have skeletons in their cupboards worth fivehundred billion dollars. Mrs. Merkel must act and see what’s happening, and the Europe should see their sins and not accuse Greece and its shipowners, whilst they are deep down full of debts, in other words bankrupt! We must talk on even basis!

2.Faraclas cautioned the unions and the rest saying that the greek shipowners achieved the impossible for others, in other words: success! The  Unions must stop unethical tacklings; they will lose bread and butter soon if they continue like this. He also agreed on Thomakos’ point that there is financial ticking bomb affecting the freight markets!

3. On the Greek Coastal Service’s problem for the coming long summer period and the current inability for the coastal shipping companies to confirm the bookings from international tourists demands, exposing Greece at a time when valuable currency earnings is of paramount importance, Faraclas said that unfortunately there are still discussions going on between the Ministry and the Coastal shipowners, and that’s pathetic, urging the current Minister who shows that he is there to produce, that he must make a law explicitly mentioning that all itineraries must be ready by Christmas each year!  The rest of excuses are pure nonsense! These are issues that must change, enough! For years Greece suffers…its about time to start the change here and now.

4. Faraclas continued with some positive international successes of Greece, notably the annual IBIA dinner in London on the 18th of February where over 1000 members and guests participated representing major conglomerates of this particular field amongst them many Greek backed companies! At this point he said that is about time Greece starts the production and export of its oil fields in its EEZ, as well as that the Turks are intruding by giving licenses to companies, foreign too, in block which belong to Greece’s territory and EEZ.  Thomakos agreed adding that: …” here within Greece we have tee Unions obstructing Greece’s gold mines… with whatever this entails against the country’s and its peoples vested interest”. Greece is loosing US$ 25 billion per annum, ten centum of its GDP,   from non exporting gold! Faraclas ended in saying that Greece is the promised land, which has everything to succeed. Lest name and shame those betraying Greece, its people, young and elder once!

5. Faraclas took the chance in saying that enough is enough with respect the damages, chaos, deaths and havoc due to this morning’s rainfall. Is this post Olympic Games Greece tht Simitis and Karamanlis left behind? Let’s say the home truths! Enough! Imagine if this happened in the Port of Piraeus and Perama n broad daylight, with people loosing their lives and being carried away in the port and drown? The cars, the lot, just imagine; enough!

6. As Germans in particular condemn the state of the Greek Economy and the colossal debts, Faraclas said: “let them see their own situation, in their own country, and then try to try or condemn Greece imposing austerity and other inhumane means!

7. On the new Law with respect the Ministry of Mercantile Marine and the Aegean he said let’s wait the Minister to produce a proper Law and ten we can talk. I hope he will do it. Lest see the Coastal Shipping Services issues and to give and end here and now: “There is no further excuses Mr. Moussouroulis, make or break”. He reminded Thomakos that the Government is being manipulated by the coalition partners, an issue that was raised from Thomakos too in previous interviews

8.Ending the interview, Faraclas said “ lets see the positive issues, one being that of Maritime Tourism, to develop it better the other being the Athens Stock Exchange which can greatly assist amongst others the Greek Coastal Service, Ports and terminals, Shipbulding abd Shipreair/Conversions and many more other positive issues for successful investments! The development of the Greek nation can start from Athens’ Stock Exchange. Thomakos agreed on this issue that the Athens Stock Exchangeit can become the leaver for Grece’s further development!

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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