We said that we must be on guard. Despite the BDI rising above the 2, 000 points, due to the adverse shipfinance situation faced by many companies – add shipyards closing down, global recession, and the overcapacity coupled with volatility, the markets are turning sour. Faraclas’ live interview to Lilian Margaritis of SBC TV last Friday the 27th of September was a warning for all to become more disciplined and ethical.
After climbing to 1, 904 points, it reached last Friday the 2, 046 points although it had gone higher in the week at 2, 127 and then begun to drop with the capes – who led the market being the …victims…with 226 points at 4, 018 down to 3, 967, so any objections about the chances we took in asking all to be cautious?
The smaller tonnage was also on a low trend and the wets still…wet.
One issue raised by Faraclas was; Are the banks lending or investing? This is an important issue and we should see where we go from here.
The IMO World Maritime Day was also discussed as well as the Afrimari Forum on the same day and many other matters which can be heard in the video which follows herebelow and soon with subtitles in English. We look forward to your written comments.