Why are Greek shipowners optimistic?

By Anastasia Vamvaka

Leading Greek shipowners in all areas of their activity – and for tankers – sent a message of optimism for the prospects of the shipping markets from the conference podium of Tradewinds magazine.

Regarding the risks that lie ahead with the ongoing crises that he has managed and continues to manage, the CEO of Danaos, Giannis Koustas stated that “all these bottlenecks on land will really continue this disruption in the supply chain” and continued that “In real estate, they say location, location, location. In shipping, it’s upset, upset, upset.” Vangelis Marinakis “took” the pass and in his own speech noted that “the triptych of shipping is’ Greece, Greece, London, Oslo”, with Angeliki Frangou interrupting and correcting him, joking that he is “Chios, Chios “Chios”, receiving the applause of the audience.

Regarding the container sector, Giannis Koustas stated that “container vessels benefit from this (including the supply chain crisis) because they stay longer in ports. Overall, the companies, precisely because of the lack of available capacity, they are able to return incredible amounts of money “, while he noted that even in the short term, the industry is profitable. “We have this dramatic increase in the cost of fuel oil. It would be better for everyone to slow down the ships, but no one does because there are not enough ships. So as soon as there are more ships, we should first try to minimize the companies’ fuel bill.” lines “, he added.

The director of Capital Maritime & Trading, Evangelos Marinakis in relation to the multiple crises said that “what we have seen in recent years with Covid, big lockdowns in the west and even bigger lockdowns in the Far East. I think we have seen the worst. I am quite optimistic that China by the end of the year will open up and consumption will return and we will enjoy a much better tanker market for the big ones as well as for the small ones, we are already seeing better markets.I think after two years of crisis, especially at the beginning “We are very optimistic that by the end of the year we will have a much better course, because consumption will return.” Regarding LNG, he stressed that it will be established as a marine fuel for the next 10 – 15 years.

StealthGas CEO Haris Vafias said: “We are at a point where all the different factors indicate a better market that will last for some time. Regulations will require ships to slow down.

This is the first time since 2007 that all shipping segments are doing well or very well, with the possible exception of the VLCC, which I believe will also improve significantly. I have been waiting for it for a long time. We are at the point where all the various factors indicate that the market will be better and will remain for a long time. How long; Obviously I can not say. “Ship bookings are at an all-time low, so there is less capacity available than demand for freight,” he said, adding that “LPG and LNG shipping markets are good because not many such ships are being built.”

Navios Maritime CEO Angeliki Frangou said: “We are at the crossroads of history. In the dry bulk and the tankers, we are optimistic for different reasons. The tragic war in Ukraine is very positive for tons” but the market of containers.

“So we see that oil consumption due to travel is coming back. This is a very positive event and we will see all the products and later crude oil in recovery. Now, as far as the containers are concerned, there is some frost there, because we have to say that The pandemic is upside down in the West. Then the substitution of goods for services is changing. We are all here. We will all go out. We are spending, we are traveling. We have great entertainment. “Supply chain disruption contains an area of ​​greater concern about the frost we have.” However, he estimated that fares for cargo tankers and containers would increase.