The latest John Faraclas live interview to Lilian Margaritis of SBC TV last Friday, the 16th of August 2013, proved once again our prediction of the market’s level as well as the uncertainty, given that only one category cannot create a healthy, conversely good and sustainable market.
With the BDI closing at 1.102 points, up 11 points from the previous day and 101 points from the 9th of August – thanks to the 299 plus points “obtained” from the Capers and with all other indices (BPI, BSI and BHSI) on a downward trend – meaning the markets are still sick, we enter a very dangerous period. Remind you that the BDI “clocked” a 996 points on Tuesday 13th of August… The Wets, are pretty much the same; down too. The old saying that the “Sea gets sick but never dies” is now getting dusty on shipping history’s archives…
Faraclas insisted on Ms. Margaritis’ questions about the markets, that the situation, given the Egyptian upheaval with the Suez Canal being the tip of the iceberg , can be detrimental if it explodes. Faraclas believes that the Egyptian security forces are guarding/protecting the Canal, one of the most vital passages of trade and shipping’s most important issue, as its closure has proven back in 1967 onwards decades its importance and well being of many nations in and outside this geographical periphery! The Gibraltar issue too can become thorny and the Turkish – Istanbul developments and other matters in Turkey can shake the market to its foundations.
This and other issues, including the latest Santorini power-cut saga in Greece, can be seen in the video herebelow and soon with English subtitles.
Enjoy and comment!