Home NewsDialogs and Debates Worldwide: Dry and wet markets still on a downward pace… Greece: still a lot to be done but oil will be the name of the game

Worldwide: Dry and wet markets still on a downward pace… Greece: still a lot to be done but oil will be the name of the game

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John N. Faraclas

John N. Faraclas

The following are the main points from the latest John Faraclas live interview to Niki Karathanou at the SBC TV’s studios last Friday the 10th   of May 2013:

1)The markets was the opening with Niki Karathanou asking whether Faraclas agrees with BIMCO’s Peter Sands prediction that the markets might have an upturn during the second half of this year and receiving a negative reply backed by Faraclas’ arguments. It not just the BDI or overcapacity, but also geopolitical events which influence the Markets. With the BDI below the 900 points and the wets too, things get sour!

2)The oil and exploration of oil in Greece with the promising Ionian Sea and other areas to come soon, things can change the energy chart of Greece and that of Europe not to mention the world. The Greek EEZ is a must to come into force! Caracas and Montego Bay are justifying the Greek side.

Moreover Faralas stressed the existance and importance of the Hellenic Institute of Hydrocarbons which can work wonders provided same is properly funded and supported!

3) Faraclas turned the questioning back to Miss Karathanou asking her if “something else happens” and there is not the appropriate emphasis on drilling oil  in Greece as it should be; he said that those who transport oil to Greece might be the “obstacle” for this issue too… Karathanou asked when one can expect promising developments to happen. Faraclas said it will take some time but stressed the importance as new jobs will be offered and that’s a further plus!

4) Karathanou returned to the first question as to when the markets will turn upwards. Faraclas said that there should be a proportional rise in newbuildings, more ships should be broken up, and eco ships  should  come in the game, and that in 2020 the earliest the Markets will go up!

5) On the positive side the new, the second Piraeus Passenger Port Terminal – to be inaugurated at the end of this month, which together with the new one (the third) in December, will enable Piraeus to have 25, 000 passengers per day making the Piraeus passenger Port number one in the Eastern Mediterranean area and beyond! These are positive projects but the entire infrastructure must match up (cleaning the street, high ways and enabling fast passage on the highways is a must, otherwise nothing will happen…

6) The trip to China of the Greek Prime Minister on the 15th of May, if appropriately organized might bring not just foreign investment but millions of Chinese tourists!


7)Another issues raised by Miss Karathanou was that of PENETIS, (the Panehellenic Union of  Professional Tourist Ships Association) who own 500-600 small ships for the daily tours between the mainland and the Island, or form island to island or from the mainland to the mainland. This union is actually the third major pylon of maritime tourism and if not appropriately looked after by the state, millions of Euros are at stake and many job. Millions of passenger tourists use these boats. Millions are lost!

8)Another positive happening Karathanou mentioned is the WISTA Med event in Hydra Greece 0n the 7-9th of June where many important issues will be discussed. Faraclas praised WISTA and in particular the members of the Greek WISTA who slowly but steadily continue their successful course and progress within the entire shipping industry.

9)Ending, Karathanou asked what’s s going on with shipfinance and in particular with the German Banks.  Faraclas explained that the major German Banks tried to compete with the British and other international lenders to the industry and a lot of money has been lost and will be lost! Many issues are at stake!

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 (hopefully subtitles).




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