ECONOMY

Greek shipping mulls going public

The TradeWinds Shipowners Forum, a part of the Posidonia 2014 shipping exhibition, on Tuesday heard Athanasios Martinos speaking on behalf of private shipping companies and saying that “there is an apparent trend for Greek shipping going public in the future. The sector will be less private and more public, which is better for everyone as the Greeks can offer the world shipping expertise and knowledge.”

The panel discussed the funding sources of the Greek shipbuilding program order book, which last year alone committed upward of $13 billion for 275 vessels of more than 24.5 million dwt, increasing the dwt total on order for Greeks by 364 percent.

Regarding the potential tonnage oversupply that growth funding may create, Martinos said that investors could be directed to the secondhand market to avoid oversupply of tonnage.