Basil M Karatzas
2nd Naftemporiki Shipping Conference
Athens, Greece, January 26th, 2016
A crisis is a terrible thing to waste, it once has been smartly said.
Ever since the collapse of the freight market in 2008, the shipping industry has been struggling to establish a new baseline. It was not only the precipitous decline in the freight market, but also geo-political and macro-economic developments, fiscal and monetary actions and reactions, financial and banking industries’ new enhanced regulations that have been causing stormy waves for the maritime industry.
The recent establishment of all time lows by the Baltic Dry Index has been a chilly reminder that the industry keeps facing an inflection point. The present crisis may be an opportune time for the industry to strategically face and position itself for the new parameters that will set the work-frame for the industry for the next decade, especially for shipping finance, a crucial variable for this capital intense industry.
At the 2nd Naftemporiki Conference, the shipping finance panel will address the latest developments of the industry, and especially:
- Shipping banks are ever more selective with the shipping industry. Is this the end of the ‘ship mortgage’ era? Would corporate finance be a better replacement?
- Who and how the funding gap left by the shipping banks will be covered? Are alternative and credit funds a temporary solution?
- Private equity investors have not fared well so far, on average, with their shipping investment. How they could react to their underwater positions? Will they double-down or exit massively at a loss?
- What happened to the capital markets and the promising wave of Greek shipping IPOs of the last decade? Has the well gone dry?
- Are the capital markets the way of the future?
- Are presently the shipowners properly prepared to navigate today’s financial markets and requirements? How can they position themselves best?
- Would a changing financial and banking market will force some shipowners to leave the industry?
- How a small / medium-size independent shipowners office will be defined in five years and how such an office will be structured?
These and many more relevant question will be addressed and discussed in-depth at the shipping finance panel of the 2nd Naftemporiki Conference.
We are hopeful that the challenging times of the industry will be resourcefully navigated by the descendants of Odysseus, and the present crisis of the industry will be the springboard for ever greater success for our national industry.
We hope to see you at the 2nd Naftemporiki Conference.
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