Slide2Open - Shipping Finance 2026

9th Slide2Open Shipping Finance 2026 Conference

Welcome and Introductory Remarks

Mrs Despina Travlou

Organizing Board Chair; IEEE Standards Association Maritime Ambassador; Concept Founder & SG, AI IA NPO; Managing Director, Slide2Open Communications

Mrs Travlou opened the 9th Slide2Open Shipping Finance Conference by characterizing the current era as “perhaps the most complex landscape in modern maritime history,” defined by unpolar friction and geoeconomic shifts. She highlighted a critical paradox: while shipowners are ready to invest in green transitions, the broader ecosystem—regulators and energy producers—is pausing due to implementation difficulties.

Key Quote: “Our goal is not just to discuss what shipping must do next, but how the entire Nexus can urgently converge to provide the clarity required for global trade to thrive.”

Mr Leonidas Dimitriadis-Eugenides

Advisory Board Chair; IMO Ambassador in Greece; President, Eugenides Foundation

Mr Eugenides delivered a passionate keynote on the danger of fragmentation, which he labeled a “systemic risk” to the industry. He argued that shipping is no longer just a logistical backbone but a central pillar of the global geoeconomic energy system. To navigate these “asymmetrical times,” he proposed three guiding principles: technical realism, compatibility between regional and global frameworks, and treating technical standards as strategic infrastructure.

Key Quote: “Ambition must be matched by technical realism… Ambition without operational ability is not leadership; it is aspiration.”

Mr Angelos Roupas Pantaleon

Conference Co-Chair; Greek Representative of Euromar; Founder, Second Wind & Partners

Mr Roupas Pantaleon emphasized that the industry is currently undergoing a necessary “recalibration.” He noted that the volatility of the last few days proves that the conference’s timing is more relevant than ever. He challenged the audience to move past traditional long-term cycles and adapt to a new, faster reality of strategic planning.

Key Quote: “Successful shipowners have historically been the ones who can plan and strategize for the next cycle. However, current events are proving that, now, you need to focus on the next quarter or so if you want to be successful.”

Mr Yuri Bender

Conference Co-Chair; Editor-in-Chief, PWM at Financial Times

Mr Bender reflected on the deep historical and cultural ties between Greece and the global shipping community. He framed the conference’s primary mission as solving the puzzle of maritime finance and infrastructure. He noted that the sea lanes his father once bargained over are now at the heart of the world’s most complex financial and geopolitical discussions.

Key Quote: “How to finance the building of these vessels and the businesses associated with them is the key topic of today’s Summit.”

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Official Addresses

Hon. Vasilis Kikilias, Minister of Maritime Affairs and Insular Policy, Hellenic Republic

Minister Kikilias opened his address by acknowledging the gravity of the current geopolitical crisis, noting that the conference takes place amidst a conflict where “lives are lost.” He emphasized that the immediate concern for the Greek administration is the safety of tourists, citizens in the Middle East, and specifically, Greek seafarers. He warned that the second phase of this conflict will inevitably trigger an economic crisis defined by energy volatility and inflation affecting families globally.

The Strategic Importance of Shipping: The Minister underscored the central role of shipping, which moves 90% of global commerce. He provided stark data on the current risks:

Hormuz & Persian Gulf: Hundreds of ships are currently in these “choke points,” which handle 20% of the world’s petrol and 25% of its natural gas.
Supply Chain Fragility: Any interruption to these lanes causes “difficult crosswords” for every nation, leading to war and economic instability.

Technical Realism vs. Regulatory Idealism: Minister Kikilias addressed the “paradox” of current international regulations. While supporting the green transition, he strongly criticized the proposed IMO taxation framework (potentially €130 billion by 2027).

The Biofuel Gap: He noted that biofuels currently represent only 0.5% of global needs. Taxing the industry for fuels that “do not actually exist yet” would simply pass costs to the real economy, hurting everyday families.
Global Coherence: He argued that any framework must be global to be effective. Greece, as the strongest shipping power in Europe, is working to ensure that Brussels and the IMO adopt realistic, implementable deals rather than “patchworks of frameworks.”

Future Growth and the Next Generation: The Minister expressed optimism regarding the United States’ re-engagement in shipyards and energy, calling for big trusts and banks to provide favourable financing to help the industry push forward. He concluded with a call to the next generation of Greeks, stating that the maritime sector, including ports, shipyards, and logistics, offers the most competitive wages and prosperous future for young professionals.

Key Quote: “Ambition without technical realism is not leadership; it is aspiration. We must first help and save our societies and the people struggling today to then be able to push forward.”

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Fireside Chat – Greece as an Energy Hub

Hon. Stavros Papastavrou, Minister of Environment and Energy of the Hellenic Republic

in conversation with Mr Yuri Bender, Editor-in-Chief, PWM @ Financial Times

Minister Papastavrou participated in a high-level fireside chat focusing on Greece’s rapid evolution from a mere energy consumer to a dominant regional exporter and “gateway” for global energy security.

Strategic Diversification and Resilience: The Minister echoed the concerns regarding the Strait of Hormuz, noting that the current crisis “epitomizes the need for diversification.” He outlined Greece’s aggressive investment in gas infrastructure since 2019, including the Revithoussa terminal, FSRUs, the IGB and TAP pipelines, and new compressors in Komotini and Ampelia.

The Export Shift: In 2024, Greece imported 17 BCM of gas, exporting 11 BCM of that total. This 65% export rate marks Greece’s transition into a strategic regional provider.
Hydrocarbon Exploration: The Minister announced that the Greek Parliament is currently discussing several Hellenic energy agreements for hydrocarbon exploration south of the Peloponnese and Crete, aiming for Greece to become a natural gas producer.

The Vertical Corridor and Geopolitical Realignment: A major highlight of the discussion was the Vertical Corridor, a South-to-North gateway supplying Europe with American LNG.

Weaponization of Energy: The Minister noted that Russia has “weaponized” energy in the region, with 16–17 BCM of Russian gas still entering the area via “back doors” like TurkStream.
Economic Security as Defense: Quoting U.S. Secretary of the Interior Doug Burgum, the Minister argued that the prosperity and connectivity created by this corridor could protect the region “far more than NATO can do.”
IMEC & India: The Minister highlighted the transformative potential of the India-Middle East-Europe Economic Corridor (IMEC), positioning Piraeus and Alexandroupoli as primary entry points for India’s projected $100 billion annual GDP growth.

The Future of the Greek Fleet: Addressing the “old school” links between some Greek shipowners and Russian supply, the Minister remained firm in his confidence in the industry’s adaptability.

Key Quote: “Greek shipowners have proven to be resilient, always there when the opportunity calls them… They are the ones who would be supporting the U.S. LNG introduction into Europe.”

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Session 1

The Global Friction: Decoding the Unpolar Geoeconomic Nexus

Keynote Series Summary

Dr Arnab Das

Global Economic Counselor & Macro Strategist, Das Capital

Dr Das introduced the concept of an “Unpolar World,” where power is no longer concentrated in one or even two poles, but is nuanced and issue-specific. He highlighted gold’s record prices as a “canary in the gold mine,” signaling a fundamental breakdown of trust in the international financial system.

The Barbell Approach: Investors are simultaneously betting on technological revolutions (AI) while hedging against the collapse of the international order via gold.
Shift in Power: He noted that while the US led the 20th century by economic multiples, China is now a peer in technology and a leader in industrial production, creating a world where no single power can dictate terms.

Key Quotes: “Market investors are taking kind of a barbell approach. They’re trying to bet on a technological revolution at the same time that they’re trying to protect themselves from a change in the international order by buying gold.”

“Trust has been breaking down in the international system… We’re not in a neat world order where there’s one clearly dominant power. We’re in an unpolar world where what really matters is the issue at hand.”

Prof. Athanasios Platias

Professor of International Relations, University of Piraeus

In contrast to Dr Das, Prof. Platias argued that we are in a “Second Cold War” that is structurally bipolar (US vs. China). He emphasized that the frontline has shifted from the land (Central Europe) to the sea around Eurasia.

Weaponized Interdependence: The two superpowers are not using traditional warfare but are weaponizing economic ties.
Maritime Centrality: With 80% of trade moving by sea and 70% passing through choke points (Hormuz, Red Sea, Malacca), control of these “gates” is the primary strategic objective.

Key Quotes: “The international system is structurally bipolar. There are only two huge economic and military powers with comprehensive power: the United States and China. The gap is huge.”

“Interdependence is weaponized. The two superpowers cannot solve their differences by a war, so what they are doing is that they are weaponizing their economic interdependence.”

“Everything that creates inefficiency is a bonus for the shipowners… they thrive on geopolitical instability because most of the money is made like this.”

Dr Louise Tumchewics

Research Fellow, Center for War Studies, University of Southern Denmark; Visiting Research Fellow, King’s College London; Assistant Professor, Rabdan Academy

Dr Tumchewics provided a real-time briefing on the US-Israeli strikes on Iran. She characterized the conflict as a “nightmare scenario” for global supply chains, noting that Iran is retaliating by targeting “soft” infrastructure in the Gulf.

Asymmetric Warfare: She highlighted the cost disparity between $20,000 Iranian Shahed drones and million-dollar Patriot missiles used for defence.
Food Security: While oil is a global concern, the Gulf states face an existential threat as 85%–100% of their food supply traverses the now-closed Straits of Hormuz.

Key Quotes: “There’s a significant cost and resource asymmetry between a Shahed drone, which the Iranians can produce about 100 a month, versus Patriot missiles, which cost millions and take much more time to assemble.”

“The Gulf states are looking at 85% to 100% of their food supply coming into the Straits of Hormuz. If this conflict is protracted, it will pose significant food supply and food security issues.”

Mr Edmund Shing

Global Chief Investment Officer, BNP Paribas Wealth Management

Mr Shing declared that the “US has already lost the economic war” to China, particularly in physical AI and robotics. He predicted a “commodity super-cycle” where strategic resources—oil, gas, copper, and uranium—assume geopolitical importance.

Rise of Middle Powers: He identified India and Turkey as “clever” players positioning themselves between the Colossi to maximize their own strategic autonomy.
Resource Revenge: He noted that supply growth in oil (US Shale/OPEC) is “done,” while demand from India continues to surge, creating a long-term squeeze on energy prices.

Key Quotes: “China has already won. Get used to it. They have their own problems, but they have won. The US is pulling back.”

“Oil is still too cheap, even at 80 bucks… in the medium to long term, I think it’s going higher. Supply growth is done… while demand growth continues from India in particular.”

“European Union—will we actually get together? Will we actually coordinate as an effective third power? The potential is there. The reality? Yeah, well, let’s see.”

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Panel Discussion: The Geofinancial Pivot: Global Reordering and the Wealth Equation

Moderator: Yuri Bender

Panelists: Dr Arnab Das, Prof. Athanasios Platias, Dr Louise Tumchewics, Mr Edmund Shing, and Mr GianLuigi Mandruzzato (Senior Economist, EFG Bank)

The panel translated these macro frictions into specific financial and operational realities for the shipping industry.

The “Rollback” Strategy: Prof. Platias argued that the US is currently in a “rollback” phase, successfully pushing back Chinese influence in the Western Hemisphere (Panama/Venezuela) and soon in Africa and the Mediterranean. He noted that the acquisition of the Piraeus port by COSCO was a “fresh fish” deal for China that the US is now looking to counter.
Shipping as a “Bonus” of Chaos: A recurring, pragmatic theme was that geopolitical instability is a bonus for shipowners. The panel agreed that inefficiencies, such as ships sailing around Africa to avoid the Red Sea or the Dardanelles, increase ton-mile demand and profitability.
The End of the Dollar Hegemony? GianLuigi Mandruzzato noted that while the “Greenback” remains the deepest and most liquid currency, its relative hegemony is dwindling. In an “unpolar” world, we should expect a more balanced distribution of currencies (Euro/Yuan) in global trade and reserve assets.
Technological Asymmetry and “Ulcers” at Sea: Dr Tumchewics warned that even if the Iran conflict “ends,” the lack of a clear successor in the regime could turn the Strait of Hormuz into a permanent “ulcer”—a zone of intermittent, low-cost drone strikes that will require permanent naval escorts and significantly higher insurance costs.

Key Takeaway: The “Long Game” for shipping now requires diversifying not just fleets, but sources of insurance, financing, and geopolitical intelligence.

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Greeting Address

Mr George Xiradakis

Senior Maritime & Investment Banker; Founder of XRTC Business Consultants Ltd.; President of the Association of Banking and Financial Executives of Hellenic Shipping

Mr Xiradakis addressed the conference at what he termed a “defining moment” for maritime finance, where traditional instinct must now be fused with structured financial strategy to navigate an “unpolar” world of weaponized trade and capital repricing.

The Four Forces of Modern Shipping Finance: He identified four primary pressures currently reshaping the role of the maritime banker:

Geopolitical Friction: Rapidly altering trade corridors and asset valuations.
Energy Transition Uncertainty: A landscape where fuel technologies are evolving faster than the physical infrastructure.
Regulatory Fragmentation: Creating uneven and complex compliance landscapes across jurisdictions.
Capital Discipline: The rising importance of interest rates, liquidity conditions, and ESG metrics in defining investment thresholds.

The Banker’s Role in Transformation: Mr Xiradakis argued that the banker’s role has shifted from simply “funding ships” to “safeguarding capital while enabling transformation.” He warned against the risk of “stranded Capex,” emphasizing that environmental ambition must be matched by financial viability and bankable infrastructure.

The “China Factor” and Global Liquidity: Addressing his role as a reference point for Chinese financing in Greece, Mr Xiradakis provided a pragmatic view of the Eastern markets:

Business as Usual: Despite geopolitical tensions, he described Chinese shipping and leasing interests as remaining focused on “business as usual,” with a primary focus on vessel and crew safety.
The Hybrid Boom: He noted the current “hybrid” market where massive volatility in freight rates (e.g., VLCCs reaching $130,000 per day) is creating significant profit opportunities.
Market Pluralism: While acknowledging the Greek government’s pivot toward the American ecosystem, Xiradakis argued that the maritime world cannot survive without a combination of Chinese, Western, and Greek finance. He noted that while investors are replaceable, “users” of ports (the cargo providers) are not, necessitating continued engagement with China.

The Resilience of Greek Banking: He concluded by praising the renewed strength of Greek banks, noting that they have re-established themselves as sophisticated maritime lenders who deeply understand the sector’s cyclicality and are actively growing their portfolios.

Key Quotes: “Leadership today is not only measured in vessels; it is measured in resilience, governance, and access to capital… without financial architecture, strategy remains just an aspiration.”

“I don’t think that there is anyone that can survive at this very moment without the Chinese environment and Chinese finance, and without Western finance, and without Greek finance… we welcome money from wherever it comes to promote the industry.”

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Panel Discussion

The Sovereignty Clash: Governing the Seas in a Fragmented World

Prof. Dr Ing. Konstantinos Karachalios

Strategy Advisor to the IEEE Executive Director; Former Managing Director, IEEE SA

Professor Karachalios emphasized that while regulators may be inconsistent, the technical community remains a “sovereign” force for stability. Technology is complementary to shipping. Engineers are bringing their different way of thinking. He argued that engineers have a collective responsibility to solve existential crises they helped create. He advocated for “bottom-up” technical standards that provide a blueprint for industry stability regardless of political “noise.”

Key Quote: “In times of crisis and uncertainty, you need to exhibit leadership, not opportunism. Leadership. And this time is now.”

Professor Tristan Smith

Professor of Energy and Transport, UCL Energy Institute; IMO Expert Professor

Prof. Smith provided a sobering analysis of the IMO’s October 2025 negotiations, noting that 34 countries flipped their positions to postpone the Net Zero framework. He attributed this “lost momentum” to geopolitical bullying and misinformation regarding the economic impact of decarbonization. It is a key year to go on with global regulations, instead of fragmented, regional regulations.

Key Quote: “We have taken a step closer to the abyss that is dangerous climate change… the consequence of disrupting the IMO is going to be to push the mandate to the EU and other regional regulators to create fragmented regulation.”

Mr Leonidas Dimitriadis-Eugenides

IMO Ambassador in Greece; President, Eugenides Foundation

Mr Eugenides warned that “regulatory balkanization” leads to poverty and systemic risk. He defended the IMO as an imperfect but essential “global umbrella,” noting that regional solutions are often “poor solutions” that create long-term costs for society. He called for a modernization of the IMO to become more proactive and visionary.

Key Quote: “The more regionalization you have, the more you have expensive and complicated solutions… which might be short-term beneficial for shipping, but not necessarily the best thing for society.”

Mr Haralambos J. Fafalios

Chairman of the Greek Shipping Co-operation Committee

Mr Fafalios delivered a staunch defence of the tramp shipping industry, arguing that global policy is currently dictated by a narrow “liner shipping” perspective. The IMO is manned by countries, and the European language is the language of Brussels, not the language of the maritime nations. And this is kind of problematic. Nobody wants regional regulation and regional taxation. This will lead to inflation. He criticized environmental mandates as “all stick and no carrot,” highlighting the non-availability of alternative fuels like ammonia in non-major ports. What we want is a level playing field. Shipping is the most efficient transport business in the world. Shipping has become safer and more efficient. No industry is doing better.

Key Quote: “Find me another industry that does better than us, and I’ll buy them a pint of beer. In 80 years, we’ve moved from burning 40 tons of fuel for 10,000 tons of cargo to burning 30 tons for 210,000 tons.”

Mr Vassilios Th. Terzis

Managing Director, Queensway Navigation Co. Ltd

Mr Terzis spoke from the operational frontline, acknowledging the necessity of protecting the climate while criticizing the lack of transparency regarding where “carbon taxes” are actually spent. For the time being everyone is talking, shipping is overregulated, technology is not there to support and it is unclear which road to take. He urged a “step-by-step” approach—such as hybrids for short-sea shipping, rather than waiting for a single “ideal fuel” that does not yet exist.

Key Quote: “Don’t wait to find the ideal fuel in order to change the technology… we have to find a new road and do things step-by-step.”

Moderators: Mr Yuri Bender & Mrs Despina Travlou

The moderators summarized a shift in the maritime nexus: if diplomatic engines are stuttering, technical and operational leadership must take the lead.

Key Takeaways:

Measurement and Transparency: The panel agreed with Prof. Karachalios that “you cannot manage what you cannot measure,” and that data sensors and technical standards (like those from IEEE or IMarEST) will provide the transparency needed for “green loans” and insurance.
The “Liner” Bias: A critical takeaway was the concern that EU and IMO policies are overly influenced by the container/liner sector, ignoring the operational realities of the world’s 18,000+ tramp ships.
Economic Reality: Contrary to political rhetoric, the panel cited data suggesting that the Net Zero framework would only increase consumer prices by 0.2%, suggesting that the primary barrier is political will and infrastructure, not just cost.

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Session 2

From Ambition to Action: Scaling Fuels and Securing Systems

Spotlight Interview – The Geopolitics of Energy Diplomacy

Hon. Harry Theoharis

Deputy Minister for Foreign Affairs of the Hellenic Republic

in an in-depth interview with Mr Yuri Bender, Editor-in-Chief, PWM @ Financial Times

Minister Theoharis outlined Greece’s proactive stance in economic diplomacy, emphasizing the country’s role as a “shipping superpower” that is both affected by and a major influencer of global trade stability.

Immediate Response to the Middle East Crisis: The Minister addressed the escalating US-Iran conflict, noting that shipping lanes and supply chains have become the primary objects of geopolitical tension.

Maritime Vigilance: He confirmed that Greece was among the first to prioritize seafarer safety, taking immediate “precautions” and maintaining vigilance at strategic locations like the NATO base at Souda Bay.
Support for Cyprus: The Minister highlighted Greece’s immediate military and diplomatic support for Cyprus, confirming the arrival of frigates and aircraft to ensure regional stability.
Economic Impact: He warned that the Greek economy faces multifaceted risks from the Hormuz conflict, including rising insurance costs, interrupted flow of goods, and potential impacts on tourism.

The Vertical Corridor – Strategic De-escalation: A central theme of the interview was the Vertical Corridor (the South-to-North energy path). The Minister framed this not as a source of friction, but as a tool for peace.

Lowering Tension through Choice: He argued that by providing commercial alternatives to traditional “choke points” (such as the Dardanelles or Suez), the corridor shifts the narrative from military control to commercial choice.
Independence from Russian Gas: While the corridor replaces Russian supply, the Minister clarified that its purpose is to fulfil a “duty to a well-functioning corner of the world” rather than to intentionally pitch Greece against any specific nation.

Strengthening the Transatlantic Bond: Minister Theoharis discussed Greece’s alignment with the US Maritime Action Plan, positioning Greece as a crucial bridge between Europe and the United States.

Closing the Gap: He noted that Greece is the primary vehicle through which Europe is fulfilling its commitments to purchase more US LNG and increase infrastructure investment.
Restoring Naval Influence: He emphasized that Greece’s role in this plan is to strengthen the “transatlantic relationship,” putting to bed question marks about its relevance in a modern world.

The Shift from “Heartland” to “Sea and Data”: Reflecting on the evolution of international relations, the Minister observed a structural shift in global power metrics.

Compression of Distance: He noted that while land cannot be “compressed,” maritime routes and digital domains have shrunk the global village.
The New Power Metric: He argued that the traditional importance of land is being replaced by data and energy.

Key Quote: “Artificial Intelligence is creating the advantage in extracting knowledge out of data and power out of data. And of course, you need a lot of energy in order to do that.”

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Institutional Address

Mr George Sp. Alexandratos

President of the Hellenic Chamber of Shipping; General Manager, Apollonia Lines SA

Mr Alexandratos highlighted the immense responsibility of the Hellenic Chamber of Shipping, which represents over 22,000 “floating members.” He provided a stark reminder of Greece’s maritime dominance: controlling 20% of the global deadweight and 60% of the European Union fleet, contributing over €5 billion annually to the national economy.

The Human Element and Public Awareness: A primary concern raised was the lack of awareness regarding maritime careers. Mr. Alexandratos cited a survey showing that less than 15% of the Greek population is aware of the industry’s career prospects. He called on all attendees to become “transmitters of knowledge” to provide the next generation with the clarity needed to make educated career decisions.

Operational Reality and Decarbonization: While acknowledging that shipping accounts for 2–3% of global CO2 emissions, he emphasized the scale of the financial challenge ahead:

Global Investment: Estimates exceed $1 trillion by 2050.
Greek Investment: Approximately €15 to €20 billion is required for Greek ports and vessels by 2030.
Technical Realism: He warned that if implementation is not measurable and economically viable, costs will inevitably fall on the final consumer.

Strategic Support for Port Electrification (Cold Ironing): In a significant policy statement, Mr. Alexandratos announced that the Hellenic Chamber of Shipping fully supports the current plan of HEDNO (DEDDIE) for port electrification. He framed grid upgrades and shore-side electricity not merely as compliance, but as a strategic opportunity for Greek infrastructure.

A Call for Convergence and Peace: Reflecting on the industry’s history of enduring world wars, financial collapses, and pandemics, he argued that “convergence” is now an economic necessity. He concluded with a poignant linguistic call to action regarding global growth and stability.

Key Quote: “How much piece (P-I-E-C-E) of growth do we claim? And how much peace (P-E-A-C-E) can we nurture and protect? The world is for building peace, so let’s claim a bigger piece of stronger peace.”

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Keynote Presentation

The Power Behind the Port: Modernizing the Grid for a Decarbonized Fleet

Mr Anastasios Manos

CEO, HEDNO (Hellenic Electricity Distribution Network Operator), Greece

Mr Manos, drawing on his unique background as both a naval architect and the head of Greece’s monopoly distribution network, framed Cold Ironing (Onshore Power Supply – OPS) not as a technological choice, but as a “European obligation” essential for the survival of global shipping.

The Scale of the Infrastructure Challenge

HEDNO manages a vast network of 260,000 kilometres of cables—six times the Earth’s perimeter. Mr Manos outlined the massive scale of the upcoming transition:

The 2030 Mandate: Under FuelEU Maritime and AFIR regulations, vessels above 5,000 GT must connect to shore-side electricity by 2030, and ports must cover 90% of relevant calls.
Power Requirements: In Greece, 19 out of 41 TEN-T ports fall under mandatory implementation. The required power capacity exceeds 600 Megawatts—equivalent to the power needs of four or five islands the size of Rhodes or Crete.
Ports as Energy Hubs: Mr Manos noted that electrifying a port like Igoumenitsa effectively adds the electrical equivalent of “a couple more towns” to the grid, requiring sophisticated real-time management to prevent local blackouts.

Strategic Execution and Digitalization

HEDNO has moved from planning to action, having already completed feasibility studies for all mandated ports and integrated them into its five-year Network Development Plan.

The ALFION Project: In Igoumenitsa, HEDNO is currently implementing three OPS positions, expanding the grid, and supervising construction works. Similar evolutions are underway in Rafina, Lavrio, Corfu, and Kavala.
Modernization Tools: The transformation relies on Smart Meters, grid automation, and Digital Twins, allowing maritime loads to be managed in real-time to ensure voltage stability.

Transparency and Anti-Monopoly Measures

A key priority for HEDNO is safeguarding competitive electricity prices. Mr Manos criticized current “monopolistic behaviours” at some European ports that burden shipowners.

Neutral Guarantor: HEDNO acts as a neutral operator, extending the grid directly to the vessel to ensure technical stability and a transparent pricing model.
Free Choice of Supplier: This model protects the shipowner’s right to choose their electricity supplier, ultimately reflecting lower ticket prices and transport costs.

Key Quote: “Without the electrification of ports, there is no meaningful decarbonization of shipping… Ports are no longer simple transit points. They’re becoming critical nodes of the electricity grid.”

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Panel Discussion:

The Fuel Mirage: Chokepoints on the Road to Scalability

Professor Tristan Smith

Professor of Energy and Transport, UCL Energy Institute; IMO Expert

Professor Smith challenged the notion that green fuels are a distant dream, noting that green ammonia is already beating biofuel prices in markets like China due to optimized renewable production. He argued that the “end of the fossil era” is driven by economics—specifically the fact that solar and wind are becoming cheaper than oil and gas—rather than just policy or war.

Key Quote: “The Energy Transition is moving extraordinarily fast… The business case for LNG finishes when LNG is no longer competitive against solar and wind.”

Mr Theo Kourmpelis

Global Business Director for Tankers, Lloyd’s Register

Mr Kourmpelis highlighted that the technology for dual-fuel ammonia and methanol engines is already being delivered to the market. He clarified a common misconception, stating that the IMO did not reject the Net Zero framework in October 2025, but merely adjourned the discussion for a year, leaving a critical window for standardizing guidelines.

Key Quote: “The technology is there. The adaptation is coming forward as the years pass… our role is to help stakeholders with their strategies, remaining fuel agnostic.”

Mr Vangelis S. Marinakis

COO at Island Oil Ltd; Managing Director at Prodromos Shipping Agencies

Mr Marinakis provided a reality check, noting that alternative fuel ships currently represent only 7-8% of the global fleet. He emphasized that for “tramp shipping”—the bulk of the world’s fleet—there are currently more “sticks than carrots,” leading owners to rely on speed reduction (slow steaming) rather than expensive new fuels.

Key Quote: “Pricing is a very important thing. Methanol is three times as expensive as MGO… Unless there is an incentive for tramp ships to change, the demand for fossil fuels will continue to rise.”

Mr Fernando Kalligas Castiella

Senior Director of Corporate Affairs, ESG & Communication, DESFA SA

Mr Kalligas focused on the Vertical Corridor and Greece’s evolution into an LNG gateway. He noted that over 80% of Greece’s LNG now comes from the US. He also pointed out a significant “stakeholder disconnect,” where charterers often refuse to pay the premium for alternative fuel capacity, even when it is available on a vessel.

Key Quote: “I’m missing the end user as an integral part of this discussion. If you build it, they won’t necessarily come if it’s not relevant for the end users.”

Mr Luca Imperiali di Francavilla

Global Product Manager Shore Connection, ABB

Mr Imperiali reported significant progress in Shore Connection (Cold Ironing), noting that global standards (ISO/IEEE/IEC) now exist for all major vessel types. He highlighted massive investments in Italy (700 million euros) and Northern Europe, while announcing new standards for tanker shore connections based on OCIMF guidelines.

Key Quote: “Shore connection is mainly solving the problem of pollution of the vessel when it’s at berth… for the future, we start to talk about seashore charging for hybrid or full electric vessels.”

Mr Rudi Schubert

Director, New Initiatives, IEEE Standards Association

Mr Schubert addressed the “Port-to-Grid” challenge, comparing the massive power needs of modern ports to those of data centres. He warned that while the engineering is doable, the “regulatory maze”—permitting and lack of alignment between governments and grid operators—remains the biggest hurdle to scalability.

Key Quote: “The power utility was not really designed to support large loads like ports… if you don’t get an aligned plan between governments and grid operators, it always becomes a struggle.”

Moderator: Professor John Prousalidis, Professor of Marine Electrical Engineering, ΝTUA; Head of the Industrial Connection Activity Sustainable Maritime of ΙΕΕΕ; Chairman of IMarEST Marine Electrical Special Interest Group (MESIG)

Key Takeaways:

The panel concluded that while the engineering solutions (Ammonia engines, 10,000 TEU battery-electric ships, and Shore Power) are technically ready, the “Fuel Mirage” persists due to:

The Sourcing Gap: Alternative fuels are only available in a few major hubs (ARA, Singapore), making them unviable for global tramp shipping.
The Investment Risk: The liability for choosing the “wrong” technology currently falls heavily on shipowners’ equity rather than the financing banks.
The Stakeholder Disconnect: A critical need to bring charterers and end-users into the financial equation to pay for the “green premium.”

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The AEGIS Vision for Maritime Systems

Mrs Dora Tsiourva

Senior Researcher, School of Naval Architecture and Marine Engineering, NTUA; Member of the International Ship Structure Committee (ISSC)

Mrs Tsiourva presented the AEGIS Project (Advanced Protection for Maritime Infrastructure and Globally Sustainable Shore Power), a five-year initiative led by the National Technical University of Athens (NTUA) in collaboration with IEEE, AMPP, and IMarEST, funded by the Lloyd’s Register Foundation.

The Technical Challenge of Shore Power While Onshore Power Supply (OPS) is one of the most mature technologies for decarbonization, Mrs Tsiourva highlighted a significant “system integration” challenge that is often overlooked:

Electrochemical Interaction: When a ship connects to the port grid, the hull, grounding system, transformers, and seawater form a complex electric and electrochemical system.
Corrosion Risks: This connection influences current paths and cathodic protection behavior. Without coordinated electrical and corrosion design, the long-term structural durability of both the vessel and the port infrastructure could be compromised.

The AEGIS Solution – Scientific Evidence and Modelling: The AEGIS Project aims to move beyond theoretical standards to provide practical, evidence-based guidance for the industry:

Interdisciplinary Approach: The project combines expertise in electrical engineering (IEEE), corrosion and materials (AMPP), and maritime operations (IMarEST).
Research Methodology: NTUA uses laboratory electrochemical testing alongside simultaneous modeling of the “seaport interface.” These findings are validated through actual field measurements in European ports.
Goal of Maturity: The project seeks to refine the technical maturity of maritime electrification, ensuring that as shore power scales up, it remains safe, durable, and reliable.

Impact on Regulation and Confidence: By providing scientific validation of cathodic protection performance during OPS, AEGIS aims to inform future international regulatory guidance. This provides the “technical confidence” required for shipowners and port authorities to invest in large-scale electrification.

Key Quote: “OPS is actually a system integration exercise which requires technical maturity… our contribution is to ensure that maritime electrification will remain reliable, resilient, and ready for scale-up.”

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Session 3

The Strategic Verdict: Aligning Ownership and Leadership

Gold Sponsor Presentation:

Maritime Cyber-Shield: Securing the Digital Vessel

Mr Nikos Kogios

ICT Security Services Senior Manager, OTE Group (Telekom Group)

Mr Kogios alerted the conference to a fundamental shift in the threat landscape: shipping companies are no longer being targeted by “random hackers,” but by Advanced Persistent Threat (APT) groups—nation-state actors with deep expertise and strategic objectives.

The “Iran-Based” APT Case Study: To illustrate the severity of the threat, Mr. Kogios shared a real-life intervention during the onboarding of a new shipping client:

Detection: OTE’s Endpoint Detection and Response (EDR) systems identified a ransomware attack just minutes before total encryption.
The Attacker: Through threat intelligence shared with Deutsche Telekom Group, the attackers were identified as a specific, Iran-based APT group previously flagged by Microsoft for targeting maritime interests globally, from Europe to Brazil.
Immediate Response: The OTE team isolated the compromised servers, severed the connection to the attacker’s external command center, and prevented a massive financial and operational collapse.

The Three Pillars of Digital Resilience: OTE Group’s strategy for securing the digital vessel is built on three essential operational pillars:

Identity (vCISO & Ethical Hacking): Utilizing Virtual CISOs to identify governance gaps and “Red Teams” of ethical hackers to find technical misconfigurations before malicious actors do.
Protection (The Microsoft Ecosystem): Building robust defenses using Web Application Firewalls (WAF) and network firewalls. Mr. Kogios highlighted their focus on Microsoft Security solutions to ensure that protection does not cause “operational mishaps” or disrupt the day-to-day software used by shipping crews.
The 24/7 Security Operations Centre (SOC): Because “shipping does not stop,” cybersecurity must be constant. OTE’s SOC uses AI-powered automation and global intelligence from the Telekom Group to monitor alerts and respond to Indicators of Compromise (IOCs) in real-time.

The “Intelligence Advantage” As part of the Telekom Group, OTE possesses a “vast amount of intelligence” that allows them to distinguish between random digital noise and a coordinated, targeted campaign against a shipping company. With a team of over 40 certified cyber professionals, the Group positions itself as a strategic partner for a sector where digital downtime is as costly as physical blockage.

Key Quote: “Every modern vessel is actually a digital asset… In your fight against cybercrime, you need a trusted partner, an experienced partner, and that’s what we are.”

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Panel Discussion

Mind the Gap: When Green Ambition Meets Market Reality

Mr Themis Vagiakos

Director, Global Sustainability, American Bureau of Shipping (ABS)

Mr Vagiakos noted that 45% of the current order book by capacity is now dual-fuel. He framed this shift not as a speculative bet, but as a strategic hedge against the future cost of carbon and the risk of asset obsolescence.

Key Quote: “The market is full-on on dual fuel because it believes that the cost of being wrong is higher than the cost of being early.”

Mr Stratis Apergis

Co-Founder & CEO, Levante Ferries; Vice President, SEEN

Speaking for the passenger sector, Mr Apergis highlighted the difficulty for small and medium-sized regional companies to negotiate for “exotic” alternative fuels. He called for a cohesive national policy to guide and support smaller entities in their transition.

Key Quote: “We are very small entities to be able to take such important decisions and also having access to alternative fuel… it would be much more helpful if we could have a national policy.”

Mr Vasilis G. Petousis

Energy & Sustainability Manager, Seanergy Maritime Holdings Corp.

Mr Petousis delivered a blunt assessment of the gap, stating that while shipping is pioneering hydrogen and biofuel trials, the necessary e-fuel production and funding are still missing.

Key Quote: “The technology is not there. The fuel availability is not there. The energy to produce the e-fuels is not there, and the money and funding are not there.”

The Financial Reality

Mr Konstantinos Economou

Head of Shipping Finance, Credia Bank; Gen. Secretary, Association of Banking Executives

Mr Economou explained that while banks are open to financing dual-fuel vessels, they require a “perfect storm” of security: a strong sponsor, a long-term fixed charter with a reputable counterparty, and a proven shipyard.

Key Quote: “We don’t have enough data yet for the operations of these vessels in the future… So, we should be careful and conservative.”

Mr Vangelis Nomikos

Senior Director, Shipping Finance, ABN AMRO Bank N.V.

Mr Nomikos pointed out that bank capital is naturally more conservative than entrepreneurial capital. He noted that Sustainability-Linked Loans (SLLs) have recently lost momentum because they lack “regulatory leeway” or capital relief for the banks to pass on meaningful discounts.

Key Quote: “If shipowners are not willing to put the capital, why a bank should be willing to do that? Which bank capital is more conservative than an entrepreneur’s capital to put at risk?”

Mr Alex Tsinganos

Cyber Security Sales Consultant, OTE Group

Mr Tsinganos emphasized that as ships become more digital and automated, the “attack surface” for cybercrime grows. He urged the shipping industry to treat itself as “critical infrastructure” and shift focus from simple prevention to total resilience and recovery.

Key Quote: “It used to be prevention. Now… we’re talking about resilience. We’re talking about detecting and recovering.”

Mr Theocharis Terzis

Director, Queensway Navigation Co. Ltd; CEO, Vsltec

Mr Terzis criticized the European Union’s tendency to regulate without considering practical implementation. He warned that the fragmented landscape of five different frameworks creates a massive bureaucratic burden for owners trading in EU waters.

Key Quote: “We will end up monetizing carbon without decarbonizing the industry. We will just be moving money around for no reason, without moving the needle.”

Moderator: Mr Alexandros Damianidis

Partner, Assets & Structured Finance Group, Watson Farley & Williams

Key Takeaways:

The panel concluded that while the “Green Gap” is real, the industry must maintain a balanced, agile strategy to survive:

Operational Efficiency: Focusing on technical and operational improvements (slow steaming, performance monitoring) as the most immediate tools for emission reduction.
The Funding Gap: Acknowledging that the €1 trillion+ transition cannot be financed by banks alone; it requires state support and the reinvestment of ETS carbon taxes back into the industry.
Strategic Fleet Mix: Successful owners are balancing their fleets between conventional-fueled vessels, dual-fuel newbuildings as a hedge, and well-maintained second-hand assets.

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Presentation:

Succession Planning as a Strategic Imperative in Modern Shipping

Mrs Rebecca Pitsika

Managing Partner, N2Growth Greece

Mrs Pitsika argued that while shipping has historically been built on the “courage of the founder,” the greatest modern risk to these enterprises is no longer market volatility or regulation, but leadership transition. In an era defined by AI, ESG, and geopolitical shifts, the traditional “instinct” of a single founder is no longer sufficient to guarantee the survival of the firm.

The VUCA Challenge She defined the current environment as a VUCA world (Volatile, Uncertain, Complex, and Ambiguous), where the next generation of leaders must possess a radically different portfolio of competencies than their predecessors.

Five Forces Shaping Modern Succession:

The Volatility of Disruption: Leaders must combine operational depth with digital fluency and sustainability strategy.
Expanding Stakeholder Influence: Trust must now extend beyond the family to international regulators, global partners, and the public.
Next-Generation Expectations: Future leaders require purpose, transparency, and early international exposure to governance.
Data-Driven Governance: Succession is no longer a “paper in a drawer” but an ongoing, board-led process backed by readiness metrics.
Crisis Preparedness: Organizations must be structured to survive unplanned transitions or sudden geopolitical shifts.

The Impact on Finance and Capital In a follow-up dialogue with Yuri Bender, Mrs Pitsika highlighted the direct link between governance and the cost of debt:

Concentration Risk: Institutional investors and audit committees view the absence of a structured succession plan as a “concentration risk.”
Business Continuity: Investors ask, “what if?” regarding the sudden loss of a leader. If there are no clear layers of decision-making (first, second, and third lines), confidence drops.
Pricing of Risk: Lack of visible governance affects confidence, which directly impacts financing and pricing.

Key Quote: “Succession is not about replacing a person; it’s about the organization’s ability to thrive beyond any single leader… In shipping, vessels cross oceans, but enterprises cross time.”

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Panel Discussion

The Owner’s Dilemma: Capital, Compliance, and the Cost of Chaos

The “Opportunity” of Chaos

Mr Antonis Faraclas

Managing Director, Kollakis Group (Charterwell & Chartworld)

Mr Faraclas, drawing on 45 years of experience, argued that “chaos is historically good for shipping.” He noted that spikes in freight rates often coincide with global abnormalities, from the Iran-Iraq War to COVID-19.

Key Quote: “Every time shipping has been going through abnormalities, there are spikes… in reality, chaos for shipping is good.”

Mr Fedon Tomazos

Managing Director, Cass Technava Maritime S.A.

Mr Tomazos highlighted that shipping’s inelastic nature means small disturbances have massive ripple effects. He noted that today’s fleet is stretched thin due to longer trading distances required by geopolitical shifts, reducing overall efficiency and driving up value.

Key Quote: “We are always ‘Fooled by Randomness.’ Small forces of impact have multiple disturbances to the system… the actual output is far more intense than you see in other industries.”

The Regulatory and Green Dilemma

Mr John Theodorakis

Principal, SwissChemGas

Mr Theodorakis addressed the “chaos of indecisiveness” in regulation. He noted that while environmental goals were once the priority, they have now fallen behind “Security” and “Economy.” He emphasized the need for a stable framework to guide investment.

Key Quote: “The world is in a bit of an indecisiveness or chaos… Security is the first priority. The economy is the second. And the environment is the last priority.”

Mr Antonios Kanellakis

Executive Director, Pantheon Tankers / Alpha Gas

Mr Kanellakis explained that uncertainty in the IMO Net Zero Framework had previously made owners reluctant to invest. Now, owners are focusing on “commercial reality” and maintaining modern fleets, often choosing conventional technology because alternative fuels like green ammonia are not yet available at scale.

Key Quote: “Decarbonization is important, and we always take this into account… but it’s not the primary driver here. The market needs ships.”

Mr Michael Kourtesis

Managing Director, SeaHawk Group

Mr Kourtesis provided a practical case study on the “Dual-Fuel Mirage,” noting that even with a dual-fuel LPG vessel, charterers often burn conventional fuel oil because it is cheaper. He suggested a “retrofit-ready” approach as the most prudent current path.

Key Quote: “If there’s not a setup to guarantee that the dual-fuel price should be lower than the conventional fuel price… investors will always go for the [cheaper] one.”

The Financing Landscape

The panel agreed that shipping is “back in fashion” with banks due to five years of strong profitability. However, a new dynamic has emerged:

Selective Lending: Banks are financing “the owner, not the project,” relying on long-term relationships rather than high leverage.
Prudent Leverage: Unlike the 2008 boom, LTVs (Loan-to-Value) are being capped at 60–80%, with few transactions exceeding 85% North leverage.
Chinese Leasing Retreat: There is a notable pivot away from Chinese leasing due to US-China tensions, making European and US banks more competitive.

Moderator: Mr Angelos Roupas Pantaleon, Greek Representative of Euromar; Founder, Second Wind & Partners

Key Takeaways:

The panelists concluded with a “quick-fire” round of advice for surviving the current geopolitical and economic storm:

Antonis Faraclas: “Act according to your pocket. Do what your gut feeling tells you.”
Antonios Kanellakis: “Capital discipline. Freight rates won’t last forever. Watch your counterparties.”
Michael Kourtesis: “Control your greed and your fear. Don’t panic when things go bad; take it day by day.”
John Theodorakis: “Stay put for operational issues. Provide flexibility to the global energy supply chain.”
Fedon Tomazos: “Enjoy it while it lasts, but alertness on the ‘reversal to the mean’ is high.”

Closing Thought: Prudent leadership in 2026 is defined by liquidity, operational readiness, and the refusal to be greedy at the top of the market cycle.

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Spotlight on the Human Supply Chain

Securing the Mobility Frontier: Crew Welfare and Wellbeing as the Key for Crew Retention and Talent Attraction

Mr Konstantinos Oikonomou

CEO, Marine Tours Group of Companies

in an engaging conversation with

Yuri Bender, Editor-in-Chief, PWM @ Financial Times

Mr Oikonomou highlighted that in an “unpolar” world of constant friction, the safe and dignified movement of seafarers is now a top-tier corporate priority. He argued that how a company treats its crew during transit is a direct reflection of its corporate governance and a major factor in maintaining high retention levels.

Navigating Geopolitical Chokepoints: The current conflict in the Middle East has had a direct impact on the “Human Supply Chain.” Mr. Oikonomou provided a real-time example of the logistical chaos:

Flight Disruptions: Five major Middle Eastern carriers have recently halted operations, forcing travel providers to find “workarounds.”
Operational Friction: These workarounds involve huge flight deviations (via Europe, India, or Malaysia) to reach the Far East or Australia.
The Safety Mandate: Despite these “hectic” logistics, safety remains the number one priority. Marine Tours utilizes real-time data to select the most secure carriers and routes to ensure crew members feel “appreciated and well” during difficult times.

Crew Travel as an “Investment,” Not a Cost: With a decreasing global pool of officers and regular crew, shipping companies are competing against rival industries that offer higher wages. Mr. Oikonomou stressed that a strong travel policy is a key competitive advantage.

Retention Correlation: Companies holding 95% and above retention levels are those with clear, supportive travel policies for both junior and senior crew.
Shifting Mindset: Shipping firms are evolving into well-structured corporations that view traveling costs as a “traveling investment” rather than a simple expense.
Quality of Travel: There is a notable shift toward higher standards; for many senior crew members, business class travel is now the standard after a certain number of flight hours to ensure they arrive at the vessel rested and valued.

The Evolving Crew Demographic: The conversation also touched on the shifting cultural and gender landscape of the seafaring workforce:

The Ukrainian Gap: The pool of Ukrainian seafarers is decreasing as many have relocated to other European countries and found alternative employment outside of shipping.
Women in Shipping: While still a longer-term plan, the industry is making necessary investments to create environments that allow more women to join crews, reflecting a broader commitment to ESG (Environmental, Social, and Governance) standards.

Key Quote: “Shipping companies are turning the traveling cost into a traveling investment in retaining their crews… The majority of our clients respect the senior crew; they utilize the best available airlines even if they are more expensive, because they see the shift in quality required.”

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Panel Discussion

The Strategic Instinct: Stewardship and Resilience at the Helm

Mrs Frantzeska Moyssoglou

Chief Financial Officer, Alma Shipmanagement & Trading S.A.

The Evolution of Leadership

Mrs Moyssoglou defined her strategic instinct as a blend of banking finance experience and startup agility. She emphasized that modern leadership requires moving beyond the “decision of the one” toward a model of transparency and preparedness.

The Strategic Flag Migration

Mrs Moyssoglou detailed a complex operational shift involving a change of flag for a significant portion of the fleet. This decision was driven by the increasing difficulty in sourcing crews that met the specific requirements of the previous flag.

The Challenge: The replacement flag was relatively unknown within certain sectors of the shipping industry.
The Execution: The transition required Mrs. Moyssoglou to work directly with banks and financiers to secure their acceptance of the new flag from a mortgage and security perspective.
The Lesson: Success in shipping often requires building infrastructure from scratch and educating financial partners to maintain liquidity during operational pivots.

Key Quote: “The decision of the one will be minimized but not diminished completely… you must leave open the communication along the company to allow capability flow based on expertise.”

Mrs Korinna Tapaktsoglou

CFO & Managing Director, Pioneer Marine Inc.

The Evolution of Leadership

Mrs Tapaktsoglou traced her leadership journey from auditing at PwC to becoming an owner through a management buyout. She argued that authority in shipping is earned through “calm resilience” and consistency rather than volume.

Key Quote: “Conviction comes from preparation and experience—not from certainty. We are not magicians; we rely on a team to synthesize views and then take accountability.”

The 2021 Management Buyout

Mrs Tapaktsoglou recounted the highest-stakes moment of her 20-year career, which occurred in 2021 during the height of the COVID-19 pandemic.

The Challenge: An investment fund decided to exit the company, leaving the leadership with a binary choice: dissolve the company and sell the assets, leaving 30 employees without jobs, or take a massive personal and professional risk.
The Execution: In an environment with “no lenders and no financial institutions available,” the senior management team decided to perform a Management Buyout (MBO).
The Lesson: By moving from employee to owner-operator during a global crisis, the team saved the company and preserved the livelihoods of their staff. This transition redefined her leadership style as one rooted in absolute accountability.

Navigating Triple Pressures: Capital, Geopolitics, and Energy

The panel identified a “chess-like” environment where leaders must foresee multiple moves across three interrelated forces:

Geopolitics: Both panellists labelled this the most “unstable” and “disturbing” factor. Mrs. Tapaktsoglou noted that while you cannot eliminate geopolitical risk, you must ensure it does not “paralyze your fleet.”
Capital Pressure: For medium-sized companies, the “pocket” determines the pace of growth. New mandates like EU ETS and FuelEU Maritime have shifted carbon emissions from environmental concerns to direct financial liabilities.
The “Greek Index”: Mrs. Tapaktsoglou noted that the global market still follows “Greek instinct,” but today that instinct is refined by complex capital structures and sophisticated valuation models.

The “Female Lens” in Maritime Governance

The panellists addressed the historically male-dominated nature of the sector, arguing that the increasing presence of women (up nearly 30% in key roles) brings a unique strategic advantage:

The “Mother” Symbol: Mrs Tapaktsoglou used the analogy of a mother to describe the role of a leader—motivating, empowering, and nurturing the “human capital” of the company.
Diplomacy vs. Conflict: Women leaders were described as preferring diplomatic approaches to confrontation, utilizing a “sixth sense” to analyse the psychology of partners and clients.
The “Neck” Analogy: A popular quote shared during the panel suggested that if the leader is the “head,” the woman in leadership is the “neck” that controls the direction the head turns.

Operational Grit: Case Studies in Resilience

The panellists shared defining moments where “grit” saved their organizations:

Flag Transition (Frantzeska Moyssoglou): Mrs Moyssoglou detailed the massive undertaking of changing the flag for an entire fleet to comply with crew nationality requirements, a move that required re-educating banks and financiers on the viability of a new, unknown flag.
The Management Buyout (Korinna Tapaktsoglou): Mrs Tapaktsoglou recalled the high-stakes decision in 2021 to perform a management buyout when a fund exited during COVID-19. This risk saved 30 employees from unemployment and preserved the company’s legacy.

Final Reflections on Resilience

To conclude the session, the panelists provided their definitive views on what constitutes resilient leadership in 2026:

Korinna Tapaktsoglou: Defined it as the combination of adaptability and quick decision-making, emphasizing that in a fast-moving market, the “luxury of time” is rarely available.
Frantzeska Moyssoglou: Framed resilient leadership as the “shield and armor” of a company, designed to defend the team’s integrity while simultaneously providing the strength to conquer new commercial targets.

Moderator: Mrs Eirini Liadi, Senior Corporate Strategic Advisor & Executive Leader, Space & Technology Sector

Key Takeaways:

The discussion concluded that the next era of Greek maritime leadership will be defined by service and people.

Human Capital: Investing in young talent and attracting Greek seafarers back to the industry is seen as the only path to long-term sustainability.
Resilient Armor: As Mrs Moyssoglou noted, leadership is the “shield and armor” that protects the team while they “conquer new targets.”

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Session 4

The Intelligence Edge: Synchronizing Digital Defense & Human Capital

Panel Discussion

The Talent Frontline: Bridging the 90,000-Officer Gap

The Reality of the “Shortage”

Mr John Platsidakis

Costamare Shipping Services; Honorary Chairman, Intercargo

Mr Platsidakis offered a provocative take on the widely reported 90,000-officer gap, arguing that a true numerical shortage would result in laid-up ships. He shifted the focus to a crisis of quality and investment, stating that companies must move beyond sporadic recruitment toward long-term human element strategies.

The “Long Shot”: Success depends on early investment in cadets and maritime academies. He cited the 2003 transition to the LNG sector at Angelicoussis as a prime example of an expensive but necessary two-year investment to produce a dedicated fleet of Greek officers.

Key Quote: “If we’re talking simply about numbers, I totally disagree—there’s no shortage. If we’re talking about quality of seamen… there is a shortage. It’s a lack of investment on the human element.”

Generation Z and the Digital Seafarer

Mr Alasdair Wishart

Technical and Policy Director, IMarEST

Mr Wishart described Generation Z as a highly informed, activist generation that values purpose and ethics as much as wages. He noted that the traditional “word-of-mouth” family recruitment model is breaking down, requiring organizations to adopt modern mentoring and international professional standards.

The Social Media Opportunity: He shared an anecdote about a cadet going viral on social media, suggesting the industry should leverage this “authentic” communication to raise its profile among young people rather than suppressing it through rigid policies.

Key Quote: “Generation Z… want purpose in what they’re doing… They’re also more activist. They care about ethics, work-life balance.”

The Regulatory and Educational Response

Mr Michael (Mike) Esplago

Vice President, World Institute of Maritime Advanced Studies

Mr Esplago highlighted the ongoing STCW Convention review at the IMO, identifying 400 gaps in current standards. Key areas for 2026 include competences in cybersecurity and alternative fuels (ammonia, hydrogen, battery hybrids).

The Berth Bottleneck: He noted that simply having students isn’t enough; in the Philippines, 100,000 students result in only 2,000 management-level officers due to a lack of “berth opportunities” and financial support through their career progression.

Key Quote: “We are acknowledging that when we talk about alternative fuels, we also have to understand that there’s a human element. We need to train the people running the ships—not only them understanding how to run the ships but being well aware how to react to an emergency.”

Prof. Ioannis Golias

Governor, Eugenides Foundation; Emeritus Professor, NTUA

Professor Golias identified three pillars for modernizing maritime education: Digitalization, Sustainability, and Soft Skills. He argued for a curriculum that produces “smart ship” experts who understand the limits and benefits of AI and automation.

Institutional Reform: He proposed a holistic reform for Greek maritime academies, including independent certification exams and “out-of-the-box” incentives to attract experienced maritime professionals into the faculty.

Key Quote: “We need people that are not just digital operators but are rather people that understand digitalization… graduates should also have an approach of knowledge to evaluate and to deal with geopolitics awareness.”

Moderator: Mr Panagiotis Korakas, Executive Director, Isalos.net

Key Takeaways:

The panel concluded that while the numerical gap is debatable, the “Human Element Crisis” is very real and requires immediate, unified action:

The Social Contract: Mr Platsidakis emphasized that shipping is not an “impersonal eight-hour job”; it relies on a personal bond between the seafarer and the company.
Broad Outreach: The Hellenic Chamber of Shipping is currently distributing 350,000 comprehensive career leaflets to 1,800 Greek high schools to involve the entire family in the career choice.
Standardization: IMarEST and the Eugenides Foundation are working together to harmonize professional standards and provide mentorship platforms to close the generational communication gap.

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2026 Maritime Outlook:

A Post-Conference Strategic Report

I. The Geopolitical and Infrastructure Axis

The conference opened with a hard look at the “unpolar” world. The primary takeaway was that shipping can no longer rely on traditional trade routes without a “Plan B.”

The Vertical Corridor: A shift from East-West to North-South connectivity is underway. This initiative, supported by the Greek Ministry of Infrastructure and Transport, aims to bypass the “chokepoints” of the Black Sea and the Suez Canal by utilizing rail and pipeline networks through Greece and Bulgaria.
Infrastructure as Defence: Modernizing the ports of Thessaloniki and Alexandroupolis is not just a commercial goal but a strategic necessity for energy security and military mobility in Southeast Europe

II. The Financial Frontier: Resilience and New Capital

Financial leaders emphasized that while the “Golden Age” of shipping finance provides high liquidity, the complexity of the “Triple Pressures” (Capital, Geopolitics, and Energy Transition) has never been higher.

The “Greek Index”: Global investors still look to the Greek shipping DNA for market signals, but that “instinct” is now being augmented by sophisticated analytical models and complex capital structures.
ESG as a Financial Liability: Decarbonization and environmental mandates (EU ETS, FuelEU Maritime) have transitioned from corporate social responsibility goals to direct, high-stakes financial liabilities.
Operational Grit: Strategic resilience was defined through the ability to pivot—such as the massive fleet-wide flag migrations and management buyouts executed by industry leaders during periods of high uncertainty.

III. The “Human Supply Chain”: Mobility and Retention

A significant portion of the conference focused on the seafarer—not as a labourer, but as specialized human capital.

Strategic Mobility: With major Middle Eastern carriers halting flights due to regional conflicts, crew travel has become a high-stakes logistical challenge. Top-tier companies now view high-quality travel (e.g., business class for senior officers) as a “traveling investment” rather than a cost, directly correlating with retention rates above 95%.
The 90,000-Officer Gap: Panellists challenged the idea of a simple numerical shortage. The real crisis is a gap in quality and competence. The industry is struggling to match the technical mastery required for “smart ships” (AI, cybersecurity, alternative fuels) with the traditional seafaring instinct.

IV. The Future of Leadership: The “Symphony” Model

The traditional “decision of the one” model of the Greek shipowner is evolving into a more distributed, collaborative leadership style.

The Female Lens: The rising presence of women in key leadership roles (up nearly 30%) is introducing a more diplomatic, “motherly” (nurturing human capital), and long-term strategic lens to maritime governance.
Generation Z: The next generation of officers is activism-oriented and ethics-driven. They demand transparency and career clarity. Attracting them requires a move away from rigid corporate social media policies and toward authentic engagement.

V. Institutional and Educational Reform

To meet the needs of the 2026 fleet, the Eugenides Foundation and other bodies are proposing a holistic overhaul of maritime education.

Digitalization & Soft Skills: Curriculums must prioritize “digital literacy” over “digital operation,” ensuring officers can evaluate AI tools and manage geopolitical risks in real-time.
Modern Certification: Proposals for independent, high-frequency certification exams and incentives for industry veterans to join academic faculties are seen as vital steps to rejuvenate the pipeline of talent.

Strategic Conclusion

The 9th Slide2Open Shipping Finance Conference sent a clear message:

Shipping in 2026 will be defined by agility.

Whether it is rerouting cargo through the Vertical Corridor, navigating the financial liabilities of the green transition, or rebuilding the “personal bond” with a new generation of seafarers, the industry’s success depends on its ability to synchronize traditional Greek “gut feeling” with the relentless precision of modern data and governance.