Caution for Greek Shipping, shipbroking issues, greek maritime policy and the freight markets

News, Shipping Indices, Stock Markets — By on December 27, 2012 at 5:31 PM
John Faraclas

John Faraclas

John Faraclas’ live pre-Christmas interview to Panos Thomakos on SBC TV last Friday the 21st of December 2012 tackled the following issues:

1. The further downward trend of the markets – the BDI dropping down to 700 point, reconfirming his short and long term predictions! Asked where the market is heading, he said: it might even drop down to 500.

2. He discussed the conflict of interest issue vis-à-vis some entities that are simultaneously shipbrokers, shipowners and yard representatives (…all in one) and how this conflict of interest “influenced” in his view shipowners and the result which wasn’t the one anticipated by these entities, thus bringing  shipowners  in dire straits. Obviously, the market affects both listed and non listed companies and Faraclas reminded Thomakos for another debate with the participation of Vassilis Tsekouras and analyse the cards of the listed companies in the stock markets, how they entered, at which level, the course up to now so people can make their assumptions and understand the harsh reality.

3.  He explained the functions of shipbrokers and what they should do, leaving open only the “one stop shop”, the Shipmanagement company which can do all these business for its clients. Thomakos countered that once upon a time the late Aristotle Onassis said: The only rules that exist is that there no rules existing”  with respect sales and purchase and rules. Faraclas countered that there are ethics we should be reinstated. Those who do not play by the “rules” will, one day be “victims” of Nemesis” – as it has happened in the past; history repeat itself.

4.Thomakos mentioned the success of the Greeks in Shipping stating that there are 14 Greeks amongst the 100 most influential people in the shipping industry in 2012 according to Lloyd’s List top 100 for 2012, and Faraclas hailed this as positive reality  and step forward stressing ta fact that over the last few days Greek interests successfully concluded some amazing deals in all fronts, categories of ships, mainly newbuildings, explaining that those both with available cash and sustainability through the low markets can afford to run these vessels.

5. Faraclas reminded Thomakos that he owe him his views, an explanation so to say with the new Law proposed and open now in public debate (already in the public domain) with respect the functions of the new Ministry of Shipping, Shipping Affairs and the Aegean stating that there are too many mistakes, it’s a bad proposal all together and that the minister should logically withdraw same as it will will “bother” parliament  and all involved for many months to come. Thomakos requested further explanations and the particular points where this new law proposal fails to meet reality with Faraclas  that at the next interview will state all those points that are not just debatable, but totally out of any context. Faraclas reminded Thomakos that before the latest Greek general election last June, he reiterated that the country should not go for elections and also he demanded in that particular interview to Vassilis Tsekouras (another commentator/journalist at SBC TV) that all parties should declare which persons have in mind to take over the Ministry of Shipping, Shipping Affairs and the Aegean, what are their  plans and not to run and rush the last minute with last minute proposal which are out of any context, explaining that the shipping industry acts otherwise: the industry is ready, with plans made long before for any development with last minute fiasco type proposals.

6. Faraclas continued on the Ports issue condemning the Ministry for the wrong allocation/grouping of ports explaining how wrong the proposal is, without taking on account intermodalism.

7. Faraclas come back on the positive discussions during the various London Christmas parties and said that those in Greece should understand that they must not spoil both the shipowing pattern as well as the seafarers!

8. Faraclas demanded that those in opposition should be serious with their rhetoric and the news emanating from Brazil, where the leader of the Greek oppositions is on an official visit, are purely blah blah blah and, employing irony, silly screamings and manifestations from River Amazon…

9. Lastly he mentioned that all the discussions in the London Christmas and other events shows the dynamics of greek Shipping on the World’s stage and also warned that the Greek in the IMO are now a rare species, particularly after Admiral Mitropoulos’ departure (he was the Secretary General) and last weeks departure also of Dr. Nicos Mikelis one of the most important Greeks in the Shipping Industry, with two-three only there (Mrs. Chysanthi Kollia, Miss Ambatzoglou and Mr.Lucas Kotoyannis)!  Moreover he condemned the system of letting down the importance of a strong presence of Greece in the IMO and the Consular Harbour Masters Offices and Maritime Attaches in London and Brussels. Thomakos agreed that there is no space for mistakes.

Ending this interview, Faraclas thanked the SBC TV Channel and wished all the best for the Festive Season, wished all the best for the shipowners and stressed that the best wishes should go to all the seafarers who are open to all dangers in sailing the world’s seas!

We look forward to our viewer comments. As usual there will be a translation into English and viewers can log on here to listen:

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