HSBC Shipping Conference

With the aim to share views on global shipping markets and economic developments, in particular those in Asia which are of particular importance to the maritime industry, HSBC organised its biannual shipping conference in Athens.

Mr. Richard Grove, CEO of HSBC Hellas, opened the conference pointing out that “our Group’s expertise is directly brought to our customers”.
Nickolas Karellis, head of Shipping in Greece, was the coordinator of the conference. Ms. Madhur Jha, Economist, HSBC Research-Economics, London “Global Economic Outlook in 2011”, told that oil prices are high but heading high long time now. Emerging markets play much larger roles in driving commodity market.

Parts of the Eurozone that are in trouble are still small.
In the short term political risks and restructuring concerns will continue to cause volatility. In the long term there are no quick fixes and  the pressure will be on to deliver austerity. The crisis will force greater convergence and possibly closer fiscal integration.
Ms. Madhur Jha said that Japan is the 3rd biggest economy in the world in semi-finished and capital goods form a predominant share of Japan’s total exports.

Full article, ELNAVI magazine, Issue 450, Page. 50

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