The markets: still going down

Conferences, Seminars, Forums, News, People and Places, Underwater Shipping — By on November 18, 2013 at 4:48 PM
John N. Faraclas

John N. Faraclas

John Faraclas’ live interview last Friday the 15th  of November to Lucas Georgiades of SBC TV opens big questions on where are the shipping markets  heading, given the BDI’s further fall…

The BDI  down to 1,507 points – down 18 points since the 1st of November, a continued overall drop with the bigger sizes still showing uncertainty and the smaller “gaining” temporary points, the markets seem uncertain.

The Wets are more or less stable and given the luck of funds for shipping in the traditional way we all knew, makes things more than uncertain. The Container/box trade is where the attention is focussed and everything is open for consolidating the market but also creating a difficult environment for many in the field. We live in a free economy and people should thrive via competition and co-operation; an oxymoron but true fact and reality!

Amongst other questions, Lucas Georgiades asked how could at best the Greek Shipowners support Greece’s ailing economy at a time where things are gloomy and invest/support in the Greece’s economy and development with Faraclas stressing the fact that had the Greek state and all its administrations for the last 40 years listened to the masters of the Seven Seas, Greece could have been in an enviable, in a very good state in all respects.

The 7th City Biennial Conference at the IMO with Professor Grammenos’ Brigade in full force last week was the talk of the town and it remains to be seen what will come out of this, given the openness of the speakers’ presentations.

IMarEST’s Stanley Gray lecture with Professor Cindy Lee Van Dover*,on  “Deep-Ocean Industrialization and Responsible Stewardship: Extraction of Ore from Deep-Sea Hot Springs” at Trinity House in the City of London was also one of the most important events of this last decade!

The above and other matters included that of Greece’s ailing shipyards can be heard in the video above and soon with subtitles in English. We look forward to your written comments.

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