The prospects of the Maritime Industry for 2023

This year which is coming to its end was a very challenging year for the world and the shipping industry. The War in Ukraine with its consequences and the “Zero Covid “policy consistently imposed by the Chinese Government has created a lot of problems and new barriers on the shipping community.

Nevertheless, new opportunities also come up and the Greek Shipping companies have managed to overcome the obstacles and sustain their leading position and growth in the world market.

Even though the many challenges for the running year seemed to be in many cases catastrophic, we witnessed in the shipping markets an unpredictable “well-being” situation, where the tankers’ sector reached a record high after almost 2 years being on the very low; container freights remained on the high side while the dry sector is generating good returns as well. In addition, the LNG carriers’ rates are at the highest level, as all countries, especially in Europe, are looking for alternative ways of purchasing/transporting/storing Gas to cover their citizens’ and industries’ energy needs.

The New Year is coming with a lot of uncertainties still in place for the global economy; the Ukraine-Russia War being still active and seems without a close ending, global energy crisis which results in high inflation rates and subsequently on high fuel/commodities costs are a few of them.

The Shipping industry in such conditions has also to cope with new reduced emissions’ regulations, new trade patterns and the necessity of adopting new technologies on board vessels like digitalization, and artificial intelligence platforms in a way to achieve better environmental footprint for vessels.

As a result of the aforementioned the training of the seafarers to the new technologies is a “must do” action as well. However, as happened in the past, the Greek Shipping Community will find ways to overcome all the difficulties and maintain its leading position on the Global Shipping Industry.

Dimitris Vranopoulos, President & CEO at Marine Plus SA