Improvements in the dry bulk cargo market, despite China’s absent

Iakovos (Jack) Archontakis
Commercial Manager TMC MARITIME CO.

Fotios-Evangelos Karlis
Chartering Department TMC MARITIME CO.

We saw a raise regarding the dry bulk cargo market the last week. All sizes presented a raise with Capes presenting the biggest raise and the rest sizes followed.

Desire for cruise holidays surpasses 2019 levels

Cruise Lines International Association (CLIA), the trade association for the global cruise industry, released new consumer sentiment data showing that the appetite for cruise travel is now greater than in 2019. In addition, the positive views of the industry’s sustainability focus - both environmental and sustainable tourism - has also increased. This is according to the latest data from an international survey of 4,000 international vacationers conducted across key source markets (France, Germany, Italy, Spain, United Kingdom, USA, Canada and Australia). Of the cruise travellers surveyed this summer, 84% said they intend to cruise again (a 5% increase from 2019). Among those who have never cruised, 67% are open to cruising. The most enthusiastic returning cruisers fall within the younger generation of travellers—with 86% of GenX and 88% of Millennial cruise travellers saying they intend to cruise again. The same percentage of GenX and Millennials would recommend a cruise holiday to their family and friends.

“After the pandemic-related drop, the industry is steadily recovering, and the forecast is to surpass pre-pandemic levels in 2023. This is also thanks to the sector’s commitment to sustainability, both in terms of the environment and responsible tourism, in coordination with destinations”, said Maria Deligianni, National Director, Eastern Mediterranean, on behalf of CLIA during the Adriatic Sea Forum that is taking place in Bari. “Enhancements in this area are important for retaining passengers and attracting new ones, especially among the younger generation. And this is also picked up by our survey, which shows that an increasing number of travellers view the cruise sector’s commitment to sustainability positively, and 51% of the sample (up 9% from last year) say the industry is a leader in responsible travel."
Cruise destinations benefit from tourism-related economic effects that transcend the cruise itself, as evidenced by the CLIA survey. Among cruise passengers, 69% stayed at least one night in the port community prior to embarkation, 43% extending their stay by two or more nights before the cruise and the majority of these cruisers chose to stay in local hotels. It is not by chance that 60% of the international travellers surveyed said that they later returned to a destination that they had first visited by cruise.
“The cruise industry recognises the importance of engaging and working with local communities and local partners as part of its commitment to sustainable tourism across the Adriatic" Deligianni added. “We are working to achieve net zero carbon by 2050, and we need to work together with institutions and local authorities to achieve our collective ambitions. In the Adriatic and the wider Mediterranean Sea CLIA has a longstanding partnership with Dubrovnik in Croatia and most recently with Palma in Spain, while it has also worked with the cities and ports Corfu and Heraklion in Greece on sustainable tourism and to preserve the protection of these important destinations.
We continue to regard this close working relationship with destinations as an imperative. Dialogue between the cruise industry and ports and destinations is central to us, and we understand that each destination is unique and needs to be treated differently. We engage with them to identify and agree on solutions suited to the specific circumstances, including developing new shore excursions and tours and opening new destinations. Ultimately, we believe that the Adriatic region has a great potential for the development of new cruise destinations.

HRADF: Declaration of Preferred Investor for the acquisition of a majority shareholding of 67% in the share capital of Igoumenitsa Port Authority S.A. (I.P.A. S.A.)

The Board of Directors of HRADF, a member of the GROWTHFUND – The National Fund of Greece, convened today and concluded the process of improved financial offers for the acquisition of a majority shareholding of 67% in the share capital of the Igoumenitsa Port Authority (I.P.A. S.A.)
The Board of Directors of HRADF decided to declare the consortium GRIMALDI EUROMED S.p.A. - MINOAN LINES S.A. - INVESTMENT CONSTRUCTION COMMERCIAL AND INDUSTRIAL S.A. as Preferred Investor for the acquisition of a majority shareholding of 67% in the share capital of I.P.A. S.A. against a total consideration of € 84,170,000.00.
A file relating to the tender process will be submitted to the Court of Audit for pre-contractual audit; the transaction documents shall be signed following the approval of the Court of Audit.

The Oscar of 2022 will probably go to the surging inflation

The Oscar of 2022 will probably go to the surging inflation as it is the main concern for almost all economies of the world.

Maritime industry unites to call for earmarking of ETS revenues

European shipowners, ports, the cruise sector, shipyards and equipment manufacturers, fuel suppliers, shippers, forwarders and port operators join forces and call on the Member States and the European Parliament to earmark the revenues generated from the inclusion of the shipping sector in the EU ETS for the maritime sector.

Major Athens Maritime Meet Makes Global Headlines

This year’s Annual Convention & Conference of the International Propeller Club of the United States was successfully concluded last week in Athens in front of hundreds of delegates from around the world who enjoyed a program of insightful panel discussions and keynote speeches from Greek government officials, US Embassy and Senate representatives, European Parliament MPs, dozens of international shipping decision makers, iconic veterans of the Hellenic maritime heritage and other dignitaries.