The issue of how shipping and its financing are affected by today’s environment of constant geopolitical challenges and upheavals was discussed in the third panel of the 7th Naftemporiki Shipping Conference, moderated by George Alexandratos, vice-president of the Hellenic Chamber of Shipping and president of the Piraeus Maritime Club.
George Teriakidis, Area Manager East Mediterranean & Black Sea, DNV – Maritime, referred to the crucial bet of carbonization. Teriakidis made it clear that “there is not a single solution for everything”. As he said, “when we talk about reducing emissions, we have to see what kind and size of ship we are talking about. The same practices and technologies are not applied everywhere.” However, he estimated that the war in Ukraine, despite the rise in energy prices it triggered, has not affected the goal of decarbonization.
“The EU and the IMO are very clear in what they want to achieve,” he explained.
“Suddenly life became unpredictable,” noted Kostas Roccos, chairman &CEO, TST International SA. From the collapse of Lehman Brothers in 2008 to the pandemic and the war in Ukraine, everything has brought upheavals.
The biggest fear for shipping, however, he said, is potential US sanctions on China. Both technological and environmental requirements and personnel training pose huge challenges for shipping today, Theofanis Moustakatos, Head of Shipping Division at National Bank, noted.
On his part Nikos Daskalakis, Managing Director of Alpha Shipping Advisors, referred to alternative funding sources. As he said, from 2016 to today, the financing of Asian banks in shipping has reached 105 billion dollars. At the same time, he said there are alternative capital providers, which also support shipping.
