The complexities of ship finance, maritime technology, the shifting dynamics of cruising and how future trends and emerging markets are impacting shipping, are among the topics discussed during the third and final day of the “Maritime Cyprus 2023” Conference that wrapped up on Wednesday in Limassol. 

Themed Shipping in Action: An Agenda for Change, more than 900 shipping professionals from around the world, originating from more than 35 countries, attended the Conference, organized biennially in Cyprus.

According to a press release by the Deputy Ministry of Shipping, during the last day, panel discussions and a presentation explored how future trends and emerging markets are impacting shipping, the complexities of ship finance within the context of shipping’s current challenges, maritime technology and how it can improve safety at sea, and the shifting dynamics of cruising. 

The opening presentation on day three “Exploring Future Trends and emerging markets for a dynamic and resilient shipping industry” was made by  Ben Nolan, Managing Director, Maritime, Rail, & Energy Infrastructure at Stifel. Discussing major factors currently impacting shipping, he explored populism, reshoring, the energy transition/decarbonization, evolving demographics and population centers, and higher interest rates/inflation, the press release says.  

The first panel discussion, titled “Navigating the Seas of Capital: Exploring Ship Finance”, was moderated by Ben Nolan, Managing Director, Maritime, Rail, & Energy Infrastructure at Stifel, and featured  Christos Tsakonas, Global Head of Shipping, DNB Bank ASA,  Mark Friedman Senior Managing Director, Evercore,  Erik Helberg, CEO, Clarksons Securities,  Nicole Mylona, CEO, Transmed Shipping Co. Ltd,  Harry N. Vafias, CΕΟ & Founder, StealthGas Inc., and  Atef Abou Merhi, Managing Director, Pelagic Partners. Discussion centred around the challenges faced by shipping when it comes to financing growth within the context of an uncertain future fuels landscape, geopolitical factors, and the pace of technological development. 

The press release says that the second panel discussion, titled “The future seas: advancing maritime technology for enhanced safety”, was moderated by Despina Panayiotou Theodosiou, Joint CEO, Tototheo Maritime, and featured  Peter Broadhurst, Senior Vice President Safety and Regulatory, Inmarsat Maritime, Capt. Piotr Rusinek, Master Mariner, DPA and Fleet Marine Superintendent, Intership Navigation, and  Erwin Derlagen, COO at ENESEL Limited.

Conversation, it adds, focused on how digitalization is ushering in the adoption of highly sophisticated technological advancements, designed to assist seafarers in the duties, and how – because of these technologies – potential impacts on jobs within the industry have become apparent. The panel engaged in a debate about the direction of change, reflecting on the path shipping has taken as an industry, the invaluable lessons learned, and the crucial questions and opportunities that lie ahead.

The third and final panel discussion of the day titled, “Cruising Ahead: Exploring Current Developments and Dynamics in the industry,” was moderated by  Joost van Ree, Group Director Cruise & Yachts, Ocean Technologies Group, and featured  Bert Hernandez, Senior Vice President – International, Royal Caribbean International,  Maria Deligianni, National Director, Eastern Mediterranean, Cruise Lines International Association,  Vincenzo Galati, Director, Corporate Marine Technology, Carnival Corporation & PLC, and Norbert Stiekema, CCO, Explora Journeys. 

The panel discussed the complexities of the cruise sector, and how dynamics are changing as the shipping sector transitions towards sustainability, the Deputy Ministry of Shipping concludes.

Meanwhile, the future of Shipping towards 2050 was discussed during another panel discussion. 

A press release by the Cyprus Shipping Chamber says that it coordinated on the opening day of the international Conference "Maritime Cyprus 2023," on October 9th, 2023, a panel discussion on the topic "Sustainable Shipping towards 2050: a Mission (Im)Possible?".

The discussion was moderated by  Themis Papadopoulos, President of the Cyprus Shipping Chamber, and featured high profile speakers such as  Emanuele Grimaldi, Chairman of the International Chamber of Shipping (ICS), Philippos Philis, President of the European Community Shipowners' Associations (ECSA), Dr. Gaby Bornheim, President of the Verband Deutscher Reeder (VDR), and Nikolaus H. Schües, President of the Baltic & International Maritime Council (BIMCO).

"The "mission" of the Shipping Industry for its energy and technological transition in the absence of alternative compatible fuels and technologies, with a regulatory milestone for complete decarbonisation by 2050, presents a challenge for shipowners and constitutes a complex issue for global Shipping, according to the speakers, emphasising on the need for a clearer policy direction" the press release says.