This live telephone reporting of the state of the markets and other interesting shipping events took place yesterday at the Baltic where Faraclas was attending the IMIF’s event on “Alternate sources of debt finance for shipping”, an excellent presentation by Simon Lew of Norton Rose Fulbright LLP, hosted by the Baltic’s CEO Jeremy Penn.
With the BDI at 2, 337 points, up 38 from the previous day and a plus of 161 points from the previous week (Friday the 6th of December), things might look good, but are dangerous as the world’s economy is not sustainable and China’s double digit of growth evaporates, add the overcapacity and bankruptcies and see what is yet to come.
With the ups and downs of the capers and the BCI going above the 4, 000 point barrier a market cannot depend on one size… Lilian Margaritis insisted on explanations about Faraclas’ view about the markets and he explained in detail the state of the two…different shipping worlds: that of tramp shipping and that of liner trade, and what really takes place.
The Shipfinance matters were also discussed as well as the forthcoming London International Boat Show at ExCel’s Exhibition and conference centre in January an issue important for all and in particular for the Greeks caring for improving their maritime tourism.
The above and other issues can be heard in the tape here below and soon with a translation into English.