The 17th International Shipping Conference took place in Athens this week, with the central theme being the bridging of the shipping industry with capital markets.
Co-hosted by Maritime Economies and UPoilTankers and Trading Inc., the event attracted 244 industry professionals and featured 31 speakers alongside 34 sponsors, enriched by significant insights from Cyprus’ maritime sector leaders.
It explored the essential synergy between the shipping sector and capital markets, emphasising the evolving role of stock exchanges in capital raising and the intricacies of public listing.
The conference commenced with addresses from distinguished figures in the maritime and political sectors, who emphasised the shipping industry’s essential role in both global and regional economies and its dynamic relationship with capital markets.
Stefanos Gkikas, Deputy Minister of Maritime Affairs and Insular Policy of Greece, underscored the shipping industry’s crucial importance to the Greek economy.
He advocated for greater alignment between the shipping sector and capital markets to foster sustainable growth and tackle emerging challenges such as decarbonisation and digital transformation.
Similarly, Christos Karintzis, Maritime Counsellor of the Cyprus Embassy, detailed Cyprus’ role as a premier maritime hub.
He outlined the strategic efforts to enhance ties between shipping companies and capital markets and emphasised Cyprus’ commitment to innovative financing models that support the industry’s expansion.
Additionally, Vassilios 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 spoke about the vast opportunities within the Blue Economy for attracting investments and promoting sustainable development.
Moreover, Demetriades shared strategies to connect the shipping industry and capital markets while addressing global challenges like climate change and resource scarcity.
In a focused session on raising capital through stock exchanges, moderated by Theodore Chouliaras, CEO of UPoil Trading & UPoil Tankers Inc., the discussion centred on the benefits of stock exchanges over traditional financing methods and how smaller, regional exchanges remain competitive in a globalised market.
Isabella Schridrich from Nasdaq discussed the exchange’s role in linking shipping companies with global investors, stressed its innovative services and advantages in fostering growth.
She also emphasised how Nasdaq assists companies in transitioning from traditional financing methods to public markets, enhancing investor confidence.
Concurrently, Lillian Georgopoulou from the ATHEX Group talked about ATHEX’s customised services for shipping companies, focusing on regional needs and the incentives offered to Mediterranean-based enterprises seeking capital.
Nikos Trypatsas from the Cyprus Stock Exchange (CSE) drew attention to initiatives that support shipping companies and the competitive advantage provided by focusing on regional collaboration and innovation.
Another session, led by Maria Bertzeletou, Market Analyst at The Signal Group, centred on the effectiveness of listed shipping companies.
Speakers shared their experiences of accessing capital markets for fleet expansion and long-term charters, discussing the operational benefits gained through listing.
They talked about the importance of transparency and regulatory compliance in securing investor trust and strategies for navigating market volatility.
Simos Spyrou from Star Bulk Carriers, Harris Kosmatos from TEN, George Souravlas from Load Line Marine, Antonis Lambrou from Centrofin, and George Gourdomichalis from Phoenix Shipping debated the advantages and challenges of public listing for shipping companies, the strategies employed by both listed and non-listed firms, and the impact of leadership and strategic vision on innovation, irrespective of listing status.
The session on shipping finance in the age of sustainability and AI, again moderated by Theodore Chouliaras, delved into the increasing relevance of ESG criteria in attracting investors.
This discussion highlighted how environmental, social, and governance factors are becoming pivotal considerations for investment decisions in the maritime industry.
Furthermore, the session explored how AI technologies are transforming financial risk assessment and sustainability initiatives.
Participants discussed the transformative impact of AI on improving the accuracy and efficiency of financial operations, particularly in assessing and managing risks related to sustainability.
Additionally, the vital role of governance and compliance in building trust among stakeholders was examined.
The discussions pointed out that strong governance structures and strict compliance with environmental regulations are crucial for the success of green financing initiatives, ensuring long-term stability and trust in the shipping sector’s financial dealings.
Vassilis Mantzavinos introduced green financing options such as green bonds and sustainability-linked loans, emphasising their role in enabling environmentally responsible investments.
Konstantinos Economou reviewed the role of financial institutions in supporting sustainable shipping projects and their capability to manage carbon risks.
Petros Iakovou discussed the integration of AI in streamlining financial reporting and assessing ESG compliance.
Penelope Kassiani stressed the importance of governance, risk management, and assurance in sustainable financing.
She elaborated on how effective governance structures and adherence to ESG standards can enhance investor trust and secure long-term financial stability for shipping companies.
The session on AI transformation in seaborne trade, moderated by Adonis Violaris, CEO of Cyprus Shipping News, featured discussions on AI-driven innovations from predictive maintenance to logistics optimisation, the role of AI in market forecasting and investment strategies, particularly in mitigating risks in fluctuating markets, and the emphasis on simulation tools and predictive analytics to upskill crews, ensuring readiness for future AI-integrated systems.
Mike Konstantinidis from ZeroNorth presented case studies demonstrating AI’s impact on vessel operations, discussing predictive maintenance and logistics optimisation, and stressing how data-driven insights can significantly improve operational efficiency and reduce costs.
Ioannis Patiniotis from Carras Hellas accentuated the use of AI in financial operations within shipping companies, particularly for forecasting market conditions and optimising investment decisions, stressing the role of AI in enhancing decision-making in volatile market environments.
Spyros Goumas from SQLEARN focused on AI’s integration into crew training, detailing 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 from the University of the Aegean discussed the broader implications of AI in the shipping industry, from logistics optimisation to the development of autonomous vessels. He examined the technical, ethical, and regulatory challenges that need addressing for widespread adoption of AI technologies.
The session on decarbonisation and sustainable shipping, moderated by Elena Athoussaki, Chief Sustainability Officer at Motor Oil Group, delved into cutting-edge solutions for emission reduction.
The discussions underlined fuel optimisation and energy-efficient designs as pivotal methods for reducing the industry’s carbon footprint.
Furthermore, the potential of zero-emission fuels such as ammonia and hydrogen were explored, examining their capability to transform the shipping industry. Technical and safety considerations were also addressed, underlining the importance of careful integration of these new technologies.
Additionally, the session covered innovative financing models, including green bonds and ESG-linked investments, which are essential in supporting companies on their decarbonisation journey.
The role of shipyards in developing sustainable shipping technologies was discussed, with a particular focus on collaborative projects like ‘Themistocles’, which exemplify the sector’s commitment to environmental sustainability.
Speakers included John Kokarakis from Bureau Veritas, Antonis Trakakis from RINA, Nikolaos Liapis from ActaNonVerba, and Panos Xenokostas from ONEX Shipyards.
John Kokarakis focused on cutting-edge technologies to reduce carbon emissions in the shipping sector.
Kokarakis underlined the role of advanced engineering solutions and the importance of adopting international standards to achieve decarbonisation goals.
Antonis Trakakis discussed the integration of zero-emission fuels, such as hydrogen and ammonia, into shipping operations.
Trakakis emphasised the technological and infrastructural challenges involved in the transition to alternative fuels, stressing the need for industry-wide collaboration.
Nikolaos Liapis addressed the financial and strategic aspects of decarbonisation. 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 spoke about the role of shipyards in achieving decarbonisation, stressing ONEX’s efforts in developing eco-friendly ship designs.
He shared insights on ONEX’s collaboration with Israeli shipyards on the ‘Themistocles’ programme, which focuses on creating environmentally sustainable vessels.
The conference concluded with a consensus that achieving decarbonisation 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.
