John N. Faraclas
The shipping markets: be on guard…
After the summer break, Faraclas from London in his live interview to Lilian Margaritis of SBC TV challenges the markets with caution, despite the BDI’s rise to 1, 636 points, up 357 from Thurday 5 September 2013!
The Capers had an excellent rally and closed at 3, 446 points, up nearly 647 points from the previous week’s closing, the panamaxes at 1, 306 point up too by 28 points from the previous day, but all other dry indices where on a downward trend suggesting volatility and uncertainty, leading to an overall unsustainable market. The wets too where stable to downward levels at 585 the BDTI and 566 the BCTI +/- 2 each respectively from the previous day. One has to see that the 12th of September’s closing at 1, 621 suggests a lot about the market’s volatility!
The summer volatility remains and one cannot accept one category’s short term “recovery” to be the preamble of a robust and sustainable market. Mrs. Margaritis questioned the effect of an upward market and also focused on finding the main shipping markets problem. Faraclas mentioned that the main problem is shipfinance with HSH’s Topp being very cautious on the availability of funds to further finance the shipping industry.
Mrs. Margaritis then asked on the London International Shipping Week’s effect and events and Faraclas pointed out the great success of this unique event following the successful one back in the millennium.
Varvitiotis’s vistit in London to capitulate on this event was also discussed in length, as the new shipping minister from Greece, the world’ number one shipping power, had the chance to promote Greece’s shipping cluster as well as European issues, such as illegal immigration and privatisations.
The above and other issues can be heard in the video which follows herebelow and soon with subtitles in English. We look forward to your written comments.
