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Summary of the 17th International Shipping Conference
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Summary of the 17th International Shipping Conference

The 17th International Shipping Conference, themed "Bridging the Shipping Industry with the Capital Markets," was successfully held in Athens, Greece, with the collaboration of the Maritime Newspaper Maritime Economies and UPoilTankers & Trading Inc.

The event featured 31 speakers, 34 sponsors, and attracted 244 participants. Its primary aim was to address the synergies between the shipping industry and capital markets, emphasizing the potential for raising capital through stock exchanges and understanding public listing procedures.

Sessions and Key Discussions:

Opening Remarks

The conference commenced with welcome addresses from prominent leaders in the maritime and political sectors, emphasizing the vital role of the shipping industry in global and regional economies and its evolving relationship with capital markets.

Speakers:

  • Stefanos Gkikas, Deputy Minister of Maritime Affairs and Insular Policy of Greece: Highlighted the shipping industry’s critical importance to the Greek economy. He called for greater alignment between the shipping sector and capital markets to foster sustainable growth and address emerging challenges such as decarbonization and digital transformation.

 

  • Christos Karintzis, Maritime Counselor of the Cyprus Embassy: Emphasized Cyprus's role as a leading maritime hub and its strategic efforts to strengthen ties between shipping companies and capital markets. She underlined Cyprus's support for innovative financing models to facilitate the industry's growth.

 

  • Vassilis Demetriades, Former Deputy Minister of Shipping for Cyprus and Director of Shipping, Yachting, and Blue Economy at the Cyprus Investment Hub: Delivered a keynote speech titled "Blue Economy - Unlocking the Investment Potential." He emphasized the immense opportunities within the Blue Economy for attracting investments and fostering sustainable development. He outlined strategies to bridge the shipping industry and capital markets while addressing global challenges such as climate change and resource scarcity.

 

Session 1: Raising Capital through Stock Exchanges

Moderator: Theodore Chouliaras, CEO, UPoil Trading & UPoil Tankers Inc.
Speakers:

  • Isabella Schridrich (Nasdaq): Spoke about Nasdaq’s capacity to connect shipping companies with global investors, emphasizing its innovative services and advantages in fostering growth. She underlined how Nasdaq can support companies in transitioning from traditional financing methods to public markets, boosting investor confidence.
  • Lillian Georgopoulou (ATHEX Group): Described ATHEX's tailored services for shipping companies, focusing on regional needs and the incentives it offers to Mediterranean-based enterprises seeking capital.
  • Nikos Trypatsas (CSE): Highlighted initiatives by the Cyprus Stock Exchange to support shipping companies and the competitive edge it provides by focusing on regional collaboration and innovation.

Key Themes Discussed:

  • The advantages of stock exchanges over traditional financing methods.
  • How smaller, regional exchanges innovate to stay competitive in a globalized market.

Session 2: Listed Shipping Companies – Does It Work?

Moderator: Maria Bertzeletou, Market Analyst, The Signal Group.
Speakers:

  • Simos Spyrou (Star Bulk Carriers): Shared Star Bulk’s experience in accessing capital markets for fleet expansion and long-term charters. He emphasized the operational benefits gained through listing.
  • Harris Kosmatos (TEN): Highlighted the importance of transparency and regulatory compliance in gaining investor trust. He also discussed strategies for navigating challenges such as market volatility.
  • George Souravlas (Load Line Marine): Addressed challenges faced by smaller companies in raising capital and the innovative solutions private firms can use to remain competitive.
  • Antonis Lambrou (Centrofin): Stressed the need for greater support for companies listed on regional exchanges to ensure competitiveness against international markets.
  • George Gourdomichalis (Phoenix Shipping): Discussed the significance of establishing long-term partnerships with institutional investors to secure stable funding.

Key Themes Discussed:

  • Benefits and challenges of public listing for shipping companies.
  • Comparative strategies between listed and non-listed firms.
  • The impact of leadership and strategic vision on innovation, regardless of listing status.

Session 3: Shipping Finance in the Age of Sustainability and AI

Moderator: Theodore Chouliaras Speakers:

  • Vassilis Mantzavinos: Introduced green financing options such as green bonds and sustainability-linked loans, emphasizing their role in enabling environmentally responsible investments.
  • Konstantinos Economou: Examined the role of financial institutions in supporting sustainable shipping projects and their ability to manage carbon risks.
  • Petros Iakovou: Spoke about the integration of AI in streamlining financial reporting and assessing ESG compliance.
  • Penelope Kassiani: Highlighted the importance of governance, risk management, and assurance in sustainable financing. She elaborated on how proper governance structures and adherence to ESG standards can enhance investor trust and secure long-term financial stability for shipping companies.

Key Themes Discussed:

  • The growing importance of ESG criteria in attracting investors.
  • How AI technologies are reshaping financial risk assessment and sustainability initiatives.
  • The critical role of governance and compliance in fostering trust and ensuring the success of green financing initiatives.

Session 4: AI Transformation in Seaborne Trade

Moderator: Adonis Violaris CEO of Cyprus Shipping News

Speakers:

  • Mike Konstantinidis (ZeroNorth): Presented case studies demonstrating AI’s impact on vessel operations. He discussed predictive maintenance and logistics optimization, emphasizing how data-driven insights can significantly improve operational efficiency and reduce costs.
  • Ioannis Patiniotis (Carras Hellas): Highlighted the use of AI in financial operations within shipping companies, particularly for forecasting market conditions and optimizing investment decisions. He stressed the role of AI in enhancing decision-making in volatile market environments.
  • Spyros Goumas (SQLEARN): Focused on AI’s integration into crew training. He detailed how simulation-based learning and predictive tools can prepare crews for advanced operational scenarios, including the use of autonomous and semi-autonomous systems.
  • Nikitas Nikitakos (University of the Aegean): Discussed the broader implications of AI in the shipping industry, from logistics optimization to the development of autonomous vessels. He examined the technical, ethical, and regulatory challenges that need addressing for widespread adoption of AI technologies.

Key Themes Discussed:

  • AI-Driven Innovations: From predictive maintenance to logistics optimization, the speakers shared how AI is revolutionizing seaborne trade and improving supply chain efficiency.
  • Financial Operations: The role of AI in market forecasting and investment strategies, especially in mitigating risks in fluctuating markets.
  • Crew Training: Emphasis on simulation tools and predictive analytics to upskill crews, ensuring readiness for future AI-integrated systems.
  • Autonomous Shipping: Prospects and challenges in developing fully autonomous vessels, with discussions on safety, ethics, and regulatory frameworks.

Session 5: Decarbonization and Sustainable Shipping

Moderator: Elena Athoussaki, Chief Sustainability Officer, Motor Oil Group.
Speakers:

  • John Kokarakis (Bureau Veritas): Focused on cutting-edge technologies to reduce carbon emissions in the shipping sector. He highlighted the role of advanced engineering solutions and the importance of adopting international standards to achieve decarbonization goals.
  • Antonis Trakakis (RINA): Discussed the integration of zero-emission fuels, such as hydrogen and ammonia, into shipping operations. He emphasized the technological and infrastructural challenges involved in the transition to alternative fuels, stressing the need for industry-wide collaboration.
  • Nikolaos Liapis (ActaNonVerba): Addressed the financial and strategic aspects of decarbonization. He explored how shipping companies can manage the economic risks associated with transitioning to sustainable operations, including the adoption of innovative financing models to support green initiatives.
  • Panos Xenokostas (ONEX Shipyards): Spoke about the role of shipyards in achieving decarbonization, highlighting ONEX’s efforts in developing eco-friendly ship designs. He shared insights on ONEX's collaboration with Israeli shipyards on the "Themistocles" program, which focuses on creating environmentally sustainable vessels.

Key Themes Discussed:

  • Carbon Reduction Technologies: Cutting-edge solutions for emission reduction, including fuel optimization and energy-efficient designs.
  • Alternative Fuels: The potential of ammonia, hydrogen, and other zero-emission fuels to transform the shipping industry, along with the technical and safety considerations.
  • Sustainable Financing: Innovative financing models, including green bonds and ESG-linked investments, to support companies in their decarbonization journey.
  • Role of Shipyards: Shipyards as pivotal players in developing sustainable shipping technologies, with a focus on collaborative projects like "Themistocles."

Closing Insights:
The speakers agreed that achieving decarbonization requires a combination of innovative technology, regulatory alignment, and strategic investments. Collaboration across all sectors of the shipping industry will be crucial in meeting international sustainability targets by 2030.

Conclusion:

The conference showcased the importance of innovation, collaboration, and sustainability in the maritime industry’s future. By bridging gaps between shipping and capital markets, it offered actionable insights and strategies to navigate challenges, from decarbonization to AI-driven advancements.