At the crossroads: Greek shipping embraces a new era of constant change

Marking its 50th anniversary, the Hellenic Shipbrokers Association (HSA), in collaboration with the Baltic Exchange, hosted the 9th Global Shipbrokers Forum. The event featured high-profile panel discussions focused on the forces currently reshaping global shipping – geopolitics, decarbonisation, investment trends and shifting trade patterns – all under the forum’s theme WAVES of CHANGE: Shipping at the Crossroads of Dynamics, Decarbonisation & Direction.

One of the forum’s key takeaways was that the shipping industry has grown increasingly resilient. Disruption is no longer shocking – it’s expected. In this new reality, shipowners are becoming more proactive, with scenario-planning and adaptability now central to their strategy.

“Information flow is so fast,” noted Heidmar chief executive Pankaj Khanna.

“Traders in Europe either stay up late or wake up early, because a single social media post can influence market dynamics. We have to learn to operate in this world of instant communication.”

Shifting trade trends

In a panel focused on geopolitics, participants highlighted a key distinction: military conflicts tend to increase tonne-miles, while trade wars reduce them.

Intermodal head of research Yiannis Parganas noted the world has entered a new phase shaped by tariffs and protectionism. “Major economies are turning inward, reducing their reliance on global trade and thus lowering the demand for transport,” he said.

China serves as a case in point. Over the past five to six years, it has ramped up domestic production of key commodities such as coal, iron ore, and corn – dampening its import needs.

“If a country has the capital and the labour force, it will move toward self-sufficiency, which directly impacts shipping,” Mr Parganas explained. The United States, he added, is following a similar path by encouraging domestic manufacturing.

Alassia NewShips Management chief executive Basil Sakellis observed China is transitioning from an infrastructure-led economy to one driven by consumption – a shift that will further alter global trade flows.

Demographic trends also came into focus. Aca Shipping Corp chief executive Alex Angelopoulos pointed out Western populations – particularly in the United States – are ageing, while Eastern regions, especially India, are growing and becoming more economically active.

“The economy is moving East,” he said. “India has the potential to emerge as a global economic leader in the years ahead.”

The decarbonisation equation

On the decarbonisation front, Mr Khanna stressed the importance of technological choice rather than invention.

“Shipowners don’t need to invent something new – but they do need to choose the right technology. Otherwise, their vessels risk becoming obsolete, or their operating costs will rise significantly,” he warned.

Mr Angelopoulos pointed to hybrid engines as an immediate and viable solution.

“They’re already common in smaller ships, and some Japanese owners are exploring them for larger tonnage as well,” he said. “We have the technology to reduce fuel consumption by more than 50%.”

The forum was opened by HSA president John N Cotzias, with additional remarks delivered by Greek Minister of Maritime Affairs and Insular Policy Vasilis Kikilias and Baltic Exchange chief executive Mark Jackson.