Caution as the year of upheavals is ante portas
Live from the studios of SBC TV in Athens last Friday the 20th of December 2013, John Faraclas concluded the year’s recap on a positive but cautious note, insisting that there will be happier days for shipping and in particular Greek Shipping once politicians abandon dirty party politics and shipowners understand the environment the live and operate in 2013 and beyond! Shipping is the only means for global sustainable development, benefiting Greece’s ailing economy too after seven continuous years of recession…but the Greeks too.
Lilian Margaritis asked him on the important issues of 2013 as well as the markets with Faraclas responding that “…overall 2013 was a good market given that same was just below the 700 points (BDI 4th of January 2013) and today ending at 2208, a significant rise, but also that this rise has nothing to do with a healthy market which should stand at 4, 000…”.
In particular the BDI closed at 2208 point up 74 from the previous day but down since the previous closing /interview of Thursday the 12 of December where it stood at 2, 337 points, a drop of 129 points. Faraclas mentioned that one category, such as the volatile Capers and their respective BCI index cannot dictate the markets…being healthy as volatility is more that evident. Admittedly except the BSI and the BSHI which close down 17 and 7 points down respectively at 1, 482 and 811, the other indices (big size) where on the rise (BCI 3, 875 plus 279, BPI 1, 858 plus 75). The wets too were up 27 (the BDTI) and plus 4 the BCTI at 632.
The issue of container shipping and the P3 was also discussed as well as liner trade in general.
Lilian Margaritis raised the issue of shipfinance as well as the status and performance of listed companies with Faraclas expressing positiveness but caution too. Equity has evaporated and other sources are available for the few. The ignorance of investors (punters) is evident as they cannot understand the trade’s huge risks…
Another issue discussed was that of the world’s shipyards and the case of Greece’s shipyards which due to fraudsters’ involvement, according to judicial trials and news, have tainted Greece’s image. If the shipyards worldwide do not produce ships there will be – for sure – a social upturn leading to a revolution, as the social cohesion will break up…
The above and other issues, including WISTA-Hellas annual forum in Athens and the MLC 2006, can be seen in the live video here below and soon with a translation into English: