The Union of Greek Shipowners (UGS) on Wednesday announced that the sector organization has been accepted as a member in the Arctic Economic Council (AEC), naftemporiki.gr reports.

The latter describes itself as an independent body that facilitates Arctic business-to-business activities and responsible economic development through the sharing of best practices, technological solutions, standards, and other useful information.

In a press statement, UGS president Theodore Veniamis welcomed the development, reminding that Greek shipping controls 20 percent of the global transport capacity and a spectacular 50 percent of the EU’s fleet. He also noted that Greek-controlled shipping constitutes an important element in cross-trading and has been a pioneer in trans-Arctic maritime shipping.

Source: tornosnews