On behalf of Greek shipowners, Giorgos Prokopiou asked for greater access to Chinese cargoes. Prokopiou was addressing an event for the tenth anniversary of the “One Belt One Road” initiative, at the Hellenic Maritime Association.
The event was organized with the cooperation of the Chinese embassy in Greece, the China EXIMBANK and the Association of Banking and Finance Executives of Hellenic Shipping and focused on the importance of Chinese financing for the development of the Greek-owned fleet.
Prokopiou pointed out that the friendship between Greece and China is very important and, although the commercial fleets of the two countries are theoretically competitive, both countries will find cooperation more beneficial than competition.
“We live in times of cooperation,” he noted and added: “The sooner we figure it out the better for the world’s well-being.”
China’s opening up and expanding cooperatiοn with allies from Europe will positively affect global trade, according to analysts.
The role of Chinese finance
The CEO of Danaos Corp., Giannis Koustas, spoke of the support provided by Chinese financial institutions, and specifically EXIMBANK, in difficult times.
“The biggest problem with the banks is their stance in difficult times,” Koustas noted, adding that the Greek shipping sector has suffered from the irresponsible attitude of financial institutions. “The stability of EXIMBANK is an example of cooperation,” he underlined.
The CEO of Diana Shipping and president of HELMEPA, Semiramis Paliou, raised the same issue, also noting that her shipping company was one of the first to agree with the Chinese bank for newly built ships.
Michalis Chandris welcomed the commitment of the Chinese bank to finance new ships with fossil fuels and with alternative ones, until the landscape around the decarbonization strategy of the shipping industry becomes clearer.
According to a presentation made by EXIMBANK executives, the total financing to Greek shipowners is close to 1 billion dollars. Its leading partners include Angelicoussis Group, Chandris (Hellas), Chartworld, Diana Shipping, Dynacom Tankers, Navios Group, Star Bulk Carriers and Thenamaris.
In his greeting, the president of EXIMBANK, Ren Shengjun, stressed the important role of Greek shipowners, who manage one of the largest fleets in the world.
“China and Greece have strong ties. Shipping is the industry with the longest cooperation,” he said, adding that the bank is focusing on improving the efficiency of the services offered, strengthening communication between intergovernmental departments of the two countries and supporting the green transition, to meet the needs of Greek shipowners.
Record investments in Chinese shipyards
More than 1,300 ships, worth more than 60 billion dollars, have been ordered by Greek shipowners to Chinese shipyards, according to data provided by the president of the Union of Banking and Finance Executives of Hellenic Shipping, Giorgos Xiradakis. As he said, half of the Greek new-build ships were built in China over the last ten years.
He also underlined that 50% of energy resources and 20% of other products imported by China are transported by Greek ships.
“Greek shipping is adapting to international requirements and is playing a leading role in the transition to green standards,” Xiradakis emphasized, adding that banks play a critical role in the new regulatory environment, incorporating elements of ESG criteria.
He also made special reference to the opening of branches by two Chinese banks in Greece.
Speaking about the Chinese leasing market, he noted that it has grown spectacularly in the last 15 years, reaching 77 billion dollars in 2021.
