Greek shipping plays a leading role worldwide and despite the economic crisis Greek shipowners have managed to stay at the top of the list . What’s the secret? The answer was given by the shipowners themselves and industry executives at “Posidonia” event organized by Capital Link which was welcomed by the president of Astir Palace, Nicolas Bornozis.

Market executives and senior bankers of international organizations, who spoke at newmoney.gr, revealed what it is said abroad “behind the backs” of Greek shipowners: international markets recognize Greek shipowners, because, among other things, they know how “to manage their costs” and expand their business “intelligently and carefully”. Also, as it was pointed out, Greeks are known for their vast experience in the industry, but also in trade sector, while they provide high quality services.

Regarding the prospects, the majority of Greek shipowners believe that things will improve at the second half of 2014 and they expect a sustainable recovery in charter rates. Also, it was pointed out that supply and demand begin to balance and that there is an increase in orders, but it will take 2-3 years to fully recover because of overcapacity and companies with measured cost will have better prospects.

These expectations are reinforced by the improvement in the economic field of major economies of the world, like USA, Europe and China, while the international trade seems to be enhanced, too.

The data, which were presented at the forum by Shipping and Aegean Minister Miltidis Varvitsiotis show that Greek shipowners managed to be on list of the most powerful people in the world, despite the crisis. 16.25 % of the world fleet and 46.7 % of the EU as a percentage of capacity dwt belong to Greek owners.