Greek shipowners demonstrate continued resilience and innovation

Decarbonization and the energy transition present a global challenge and the maritime sector is no different. Shipowners must achieve a once-in-a-generation change with two core elements – reduce their own carbon emissions and embrace the emergence of new value chains.

The former element remains a work in progress albeit one with a strengthened regulatory timeline. The agreement in July 2023 to set net zero as the goal for shipping’s carbon emissions by the International Maritime Organization (IMO) is a clear ambition level.

This regulatory framework is probably the greatest challenge for Greek owners in the short term. The industry is working with regulations like CII that have recently come into force, timelines that have recently been agreed and new instruments that are arriving in the near future.

For our clients, understanding the evolving regulatory framework and the actions they need to take in response is a continuing challenge. ABS is committed to making available resources close to centres of demand and has positioned the global lead for Regulatory Affairs in Athens to provide updates and analysis.

In parallel, new opportunities are emerging as the industry responds to the shift towards a new carbon reduction-focussed economy. Greek shipowners have been some of the first to explore opportunities in the transport of new cargoes such as carbon dioxide and hydrogen as well as the new fuels for consumption at sea and onshore.

In this way, Greek shipowners continue to demonstrate their endlessly innovative approach of responding to the prevailing environment and capturing the commercial opportunity. This ability to adapt and keep moving forward has enabled Greek shipowners to maintain leading market shares in global shipping markets.

Check the full article in our Hellas Maritime Report 2023

Add Seatrade Maritime News to your Google News feed.