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Greek shipowners demonstrate continued resilience and innovation

A combination of deep experience and an embrace of the energy transition is positioning local players for continued growth, writes Elias Kariambas, Vice President, Regional Business Development, ABS Greece.

Nick Savvides, Europe correspondent

December 15, 2023

1 Min Read
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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

About the Author

Nick Savvides

Europe correspondent

Experienced journalist working online, in monthly magazines and daily news coverage. Nick Savvides began his journalistic career working as a freelance from his flat in central London, and has since worked in Athens, while also writing for some major publications including The Observer, The European, Daily Express and Thomson Reuters. 

Most recently Nick joined The Loadstar as the publication’s news editor to develop the profile of the publication, increase its readership and to build a team that will market, sell and report on supply chain issues and container shipping news. 

This was a similar brief to his time at ci-online, the online publication for Containerisation International and Container News. During his time at ci-online Nich developed a team of freelancers and full-time employees increasing its readership substantially. He then moved to International Freighting Weekly, a sister publication, IFW also focused on container shipping, rail and trucking and ports. Both publications were published by Informa. 

Following his spell at Informa Nick joined Reed’s chemical reporting team, ICIS, as the chemical tanker reporter. While at ICIS he also reported on the chemical industry and spent some time on the oil & gas desk. 

Nick has also worked for a time at Lloyd’s Register, which has an energy division, and his role was writing their technical magazine, before again becoming a journalist at The Naval Architect for the Royal Institution of Naval Architects. After eight successful years at RINA, he joined Fairplay, which published a fortnightly magazine and daily news on the website.

Nick's time at Fairplay saw him win the Seahorse Club Journalist of the Year and Feature Writer of the Year 2018 awards.

After Fairplay closed, Nick joined an online US start-up called FreightWaves. 

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