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World shipping markets: still down; Greeks: get your act together!

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John N. Faraclas

John N. Faraclas

The following are the main points – in brief – from the latest John Faraclas live interview to Panos Thomakos on SBC TV last Friday the 26th of April 2013:

1)The hot weather in the UK was Thomakos’ first point given last Thursday’s 23C in London. Faraclas counter that climate change “shows” no mercy…and the Friday Dressed Down Day become a Thursday Dress Down Day!



Thomakos “logged on” the issue of the 30 years old problems of the Greek economy asking Faraclas were all this will end. Faraclas simpy said that without a stricted time table, nothing will be done and the problems will never be solved accumulating more problems! The numbers speak for themselves! The Government of Greece, any Greek Government should have the will to solve these problems!

2)Following Thomakos query on the state of the Markets, Faraclas said, repeating his past predictions and positions that with the BDI at 871 there is no light at the end of the tunnel. It is not just the overcapacity but the economic circumstances. He sighted the six million unemployed in the Euro zone nd beyond in Europe. These six million are not any more consumers, so the result is that trade goes down, conversely the entire economy. Taking on account this factor on unemployment, Faraclas greeted with Nearchos movement down in Greece, a movement/program to attract seafarers as a good movement, but questioned: How come the world’s biggest shipping and seafaring nation to start pilot schemes? It is at best: Unacceptable in 2013 to start all these programs!  The Greek Parliament should name one of the coming years as The Year of the Greek Seafarer. Thomakos went on to say that on the 1st of May, during holy Wednesday as the orthodox people prepare of their Easter, another strike is being called by the Panhellenic Seamen’s Union (PSU).

3)Thomakos continued on the ongoing COSCO issue that he Unionists tackle. Faraclas said that the Unionists “send away” all the Greeks who wanted to invest. The Unionists want to destroy Greece. Indeed COSCO takes advantage by using Piraeus’ time advantage of one and a half day to bring faster its good in Europe!

Moreover Faraclas mentioned the latest conference/workshop in China between Lloyd’s Register and Wartsila to advise the Chines about the LNG, an issue which could well take place in Greece to the advantage of the Greek people and their nation’s economy.  Thomakos mentioned that we turned away the Niarchos’, Onassis’, the Andreadis’ and many others, now we don’t like the Chinese, so where does this situ lead us? Faraclas continued saying that at the end of May the Maria Tsakos Foundaion will stage a major event at the Evgenidion Foundation on the MC 2006. Faraclas wondered whether the Unions have ever understood the importance of shipping and that of the Shipowners and seafarers for Greece! We kill each other in Greece. Thomakos countered that for thirty plus years he tackles the issue of the centre-left and their destructive policies, but also the right has caused catastrophe  in Greece for over thirty years too!

4) Faraclas went further with some good news, the Bonhams double Arts event with The Greek Sale and the Marine Sale in new Bond Street and at Knightsbridge respectively. The Arts and the world of shipping go together. Imagine how many paintings need to be commissioned for a newly built cruise ship! Well informed Greeks run these shows!

5) Faraclas further continued on the issue of lawyers “supporting” clients with wrong positions. These are immoral and unethical issues, yet both layers and clients go Scott free. Faraclas mentioned examples questioning this unprecedented situation. He ended mentioning the importance of the small to  middle sized Greek Shipping companies comprising in the crisis of the early eighties the 75 centum of he Greek Shipping fraternity, and now things will change rapidly with the introduction, not only of the public shipping company, but that of the state owned one! Big changes are on the way with China willing to use the leasing as a financial tool with respect the ownership of tonnage…

The biggest challenge for the Greeks is to start building ships in Greece’s shipyards

6) The above and other issues on Greece and World Politics, can be heard and viewed in the video above; we look forward to our viewers comments. As usual there will be a translation into English.


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