John Faraclas’ live interview last Friday the 29th of November to Lilian Margaritis of SBC TV was a warning of what is yet to come in the shipping markets despite a positive week, given the world’s worst ever economic situation and major problems in all fronts. With the Festive Season approaching and 2014 being a year of Upheavals, expect the unexpected; he bets!
The BDI had a positive end reaching 1, 821 points up 338 from the previous week’s 1, 483. Capers lifted the BCI to 3, 089 points and Panamaxes reached the 1, 665 on the BPI. The other sizes where also on a plus, with the BSI and BHSI closing at 1, 475 and 764 respectively, a 17 and 7 points up.
Wets too closed up with the BDTI at 673 up 3 and the BCTI at 563 up 19 from the previous day. Mrs. Margaritis insisted on why this happened amids the slow dive of the previous week and period and Faraclas mentioned the import deals that China had already confirmed with the iron ore being the name for stocking and piling, warning that this is sorted lived.
He elaborated on the situation and competition processes given the merge-to be of various container mega players and spoke of strange and difficult times ahead particularly with the relationship between liner and tramp container traders.
The 28th General Assembly of the IMO was also discussed as well as the various events taking place in the British Capital.
The above and other matters can be heard in the video above and soon with subtitles in English. We look forward to your written comments.
* The ancient Greek Maxim, if properly interpreted, always and on every matter gives the correct solution. Lets see our viewers’ interpretation vis-a-vis the shipping markets and the world economy…