After two and a half years of inactivity in the shipping sector due to the breaking up of the Ministry of Mercantile Marine the two political parties are planning to change the investment climate and create a fund to underwrite investment in ports, marinas and other facilities backed from the shipping community. A bond issue [...]
By Stefanos Papandreou
It is well known to everyone that Greek shipping is the greatest maritime power in the world but it is incredible that the Greek state can not exploit the advantages of this achievement. The former Greek government reached to an unexplained decision to split and abolish the Ministry of Mercantile Marine, which was facilitating the [...]
It is a matter of time the Marine Ministry to be restored and the Hellenic Coast Guard to join the new scheme. On this occasion we feel that it is necessary the new Ministry of Mercantile Marine to serve the real & actual needs of Greek shipping in order to exploit the potential of shipping [...]
Bank lending is still the main source of raising capital in shipping industry despite the huge problems of liquidity faed by the banks involved in the ship finance. However, a certain number of banks proceed to anticyclical financing securing remarkable profits due to higher interest rates and margins. Another positive development is that Greek owners [...]
Adonis Georgiadis, deputy minister of Development, Competitiveness and Shipping said that he is opposed to every measure that reduces the competitiveness of shipping. In view of this philosophy he prepares a concrete piracy legislation. Georgiadis said the legislation will be in line with respective IMO decisions. It provides for upto six armed private guards on [...]
With traditional sources of capital unavailable we are currently seeing more interest than ever before from alternative capital providers. The options for a shipping company include debt restructuring less severe strategies (amend debt terms, waivers, refinance debt and more severe strategies file for bankruptcy protection and sell assets). Analysts suggest that shipping companies need to [...]
The Greek shipping community is waiting for government’s proposal regarding the creation of an environment in Greece which will enable them to invest more proceeds from the shipping industry to the country, by opening new horizons for the shipping industry. Shipping is Greece’s biggest industry. Its direct contribution to the country runs to to €140bn [...]
By Stefanos Papandreou
Governmental un-decisiveness continues regarding adapting a firm shipping policy and after two reshapes the Greek shipping sector was integrated to a newly named ministry, Development, Competitiveness & Shipping under Michalis Chrysochoidis (minister) and Charis Pamboukis (deputy minister). As it was expected the Greek shipping community did not welcome this development which will not be an [...]
