BUSINESS

International interest shown in ship investment forum

ILIAS BELLOS

TAGS: Shipping, Conference

Officials from more than 300 foreign investment funds, banks, Greek shipping companies and legal consultancies are meeting in Athens on Tuesday to discuss the prospects of investment cooperation in oceangoing shipping in the context of the 19th Marine Money Greek Forum at the Athens Hilton Hotel.

As freight markets continue to recover and ship values rise – but remain below historic averages – with analysts optimistic about the medium-term prospects of the sector, the effort to find partners for cooperation is gaining momentum.

Financial groups from Greece, Europe, the US and China, among others, are participating in the Marine Money Greek Forum. Given that 20 percent of the global merchant fleet and half of the European fleet is in Greek hands, it comes as no surprise that the international investment community has descended on Athens for the event.

Shipbroker firm Clarksons Platou Securities says this period is the best in the last 30 years for investing in shipping. It bases its estimate on the historically low prices of used vessels, limited orders at shipyards and the improvement in demand for maritime transport.

Online