The prospects of the Maritime Industry for 2023

The shipping industry is at a crossroads. No other point in time can be compared with the current state of affairs, except perhaps the change from sail to steam. This is due to both the complexity and the magnitude but also the speed at which change takes place.

Geopolitical crises, a continuous pandemic, economic and political turmoil and supply chain disruptions have all weighed upon the shipping industry in 2022, despite the positive results for some segments experiencing record high rates. Difficulties are here to stay and 2023 is expected to be a particularly demanding year for our industry.

The greatest perhaps challenges facing our sector is the need to tackle climate change, regulatory developments and the pace at which technology and people will adapt to these developments. We are entering a new era of energy propulsion of ships but we are still in unchartered waters.

The shipping industry cannot decarbonise on its own. Its full decarbonisation is dependent upon the vital contribution of out-of-sector stakeholders. Energy producers and suppliers, marine engine manufacuters, yards, among others, must provide the required alterative fuels and technologies.

Greek shipowners have always been and will continue to be among the first to embrace new technological advancements. However, we will always have safety as our underlying principle.

Shipping continues to be the most efficient and environmentally friendly mode of transport. This is an additional asset to its crucial role in sustaining the global transport and economic system.

In this critical era, our industry provides reliability, security and stability, carrying 90% of the international trade as a consistent, trusted and strategic partner of major economies serving effectively the whole world.

Over the decades, Greek shipping, as a major pillar of the international shipping industry, has proven that it possesses both the will and the expertise to successfully respond to rapid changes and to deal with complex challenges. I am confident that this will be the case for 2023, too.

The historic adaptability of Greek shipping to new circumstances is firmly based on the human factor; it is based on the people of shipping, who have a vast shipping know-how and experience and a remarkable passion and dedication to their mission. We will spare no effort to safeguard and enhance the well-known Greek seamanship. The Greek shipping community will continue to be proactively engaged in the efforts to fight climate change by taking leading initiatives for an even greener shipping. We will not overlook, though, our aim to maintain our competitiveness at global and European level, enhancing the leadership of Greek shipping. This is our strong commitment.

The Hellenic maritime tradition and legacy is our first and foremost guiding principle. As a maritime nation, we will pursue to honor and safeguard our history, our seamanship – our national pride.

Melina Travlos, President of the Union of Greek Shipowners

“To cope effectively with the environmental sustainability challenges the shipping sector will require unprecedented levels of collaboration. Regulators and industry should work together in this decarbonization journey in order ensure that the regulatory framework is fit for purpose and to explore effectively the potential of short-term action to reduce emissions”.