The following are the main points from the latest John Faraclas live interview to Nike Lymperakis of SBC TV last Friday the 12th of July 2013; please log below, listen and comment:
Faraclas explained that there is an oxymoron with the unexpected small rise of the Baltic Dry Index to 1, 149 points, up 50 from the previous week’s closure (5 July) with the Capers being the strongest players followed by the Panamaxes. Nike Lymperakis asked which level should be set next, with Faraclas settling same at the 2, 000 point barrier.
The discussion on the markets due to the overcapacity issue led to the shipbuilding industry, both international – with the Chinese about to have one third of their shipyards in total disarray and closure and the Greek saga, where the discussion was nicely “heated” with a special discussion soon to be followed.
It is worth mentioning that the issue of Greece’s shipyards is an ongoing epidemic of the Greek State and the workforce, but as mention above we expect a full debate in a coming presentation with Ms Lymperaki and John Faraclas.
The Piracy issue with the ”Environment and Security in the Gulf of Guinea today” event at the House of Commons was discussed, as it greatly affects primarily the seafarers and their families disrupting also the world trade.
Faraclas expressed also an uncertainty about Greece with a “hot” summer on the economic/political front; junk bonds and other burning issues might create havoc, unless…
The above and other matters you can see on the video above and soon with subtitles in English; enjoy it!
