The good sentiment remains in the dry bulk cargo market after the Asian holidays

Iakovos (Jack) Archontakis
Commercial Manager TMC MARITIME CO.

Fotios-Evangelos Karlis
Chartering Department TMC MARITIME CO.

The dry bulk cargo market continued with a raise, with Capes pulling with them the index up and Panamaxes and Handies followed.

Soaring inflation heavily concerns central banks

From US to Turkey and from England to Australia, soaring inflation heavily concerns central banks. As of last week, the Federal Reserve increased interest rates by 0.5% to target a rate range between 0.75% and 1%. A significant increase, which is the largest since 2000 and follows a 0.25% increase in March.

In China the covid wave and its repercussions continue to spread

As the Western Economies are moving to a post covid era, in China the covid wave and its repercussions continue to spread, with the northern port of Qinhuangdao being the latest Chinese commodity hub to be shut down due to the virus as Chinese authorities persist on zero covid policy.

New rise in the Atlantic, pressure on Asia

Iakovos (Jack) Archontakis.
Commercial Manager TMC MARITIME CO.

Fotios-Evangelos Karlis
Chartering Department TMC MARITIME CO.

The dry bulk cargo market kept on rising, with Capes leading the index and Supramaxes and Handies are following.

GRIMALDI DEPLOYS THIRD VESSEL ON THE VENICE-BARI-PATRAS RO-RO SERVICE

The Grimaldi Group will further boost its maritime connections between Italy and Greece with the deployment of an additional vessel on the Venice-Bari-Patras service. From 4 May the Eurocargo Cagliari will join the Eurocargo Alexandria and Eurocargo Genova on the ro-ro line.

ECSA appoints Sotiris Raptis as Secretary General

Sotiris Raptis has been appointed by the General Assembly to lead the European Community Shipowners’ Associations as its new Secretary General.
Sotiris Raptis (41) has extensive EU political and policy experience, having worked for different organisations in Brussels over the last 14 years. After joining ECSA as Director of Environment and Safety in 2020, he took on the role of Acting Secretary General for the last seven months.
“We warmly welcome Sotiris Raptis in his new role as Secretary General and look forward to continuous cooperation in the future. The European shipping industry is facing unprecedented challenges as we work towards our shared goal of decarbonisation. Achieving strong and effective regulation at EU level is key. At the same time, the pandemic and the Ukrainian war have shown us the need to adapt and become a more resilient and competitive industry. Sotiris combines great expertise, strong ambition, and a committed team, to navigate European shipping through these challenges” said ECSA’s President, Philippos Philis.
“I look forward to continuing my work with the ECSA team, our members and the industry and civil society organisations. The climate crisis, the energy transition and the competitiveness of the sector are major challenges. A number of new EU climate policies will be introduced in the next two years and this marks a make or break moment for the sector. It is essential that the proposals, the ambition and the concerns of the sector are taken into account by the EU institutions. Being an open, constructive and evidence-based partner is a top priority for ECSA”, added Sotiris Raptis, ECSA’s new Secretary General.
Before joining ECSA in 2020, Sotiris held several positions in the European Parliament and in different stakeholder organisations, such as the European Sea Ports Organisation and the NGO Transport & Environment. During his time in T&E, he was involved in a number of campaigns such as the one to include shipping into the ETS. Sotiris is a qualified lawyer, with degrees from the University of Thessaloniki, the University of Athens and King’s College London. In 2008, he was awarded the European Citizen’s Prize of the European Parliament as member of the “G700” blog for promoting intergenerational justice.