Posidonia 2024 Sees Flury Of New Business Deals & Economic Growth

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The 28th edition of the biennial Posidonia Exhibition came to an end on June 28 proving once again that it is the most sought-after event to conduct business and set the policy agenda for an industry that controls over 80% of the world trade and is projected to be worth $4.2 trillion by 2031, growing at a CAGR of 7% till 2031.

The eagerly anticipated Press Conference of the Union of Greek Shipowners (UGS), held every two years at Posidonia, was the icing on the cake of an incredibly busy programme of 68 shipping star-studded conferences and seminars during the exhibition’s five-day span.

Posidonia 2024 Sees Flury Of New Business Deals

The UGS Press Conference was led by Melina Travlos, President of the UGS, the Vice-Presidents, Michael D. Chandris and Andonis T. N. Lemos, the Secretary, Dimitrios J. Fafalios, the Treasurer, John A. Xylas and the Member of the BoD, John C. Lyras.

Addressing representatives of Greek and international media, Ms Melina Travlos answered to questions about the current challenges of the shipping sector and focused on the issues of maritime education in Greece, decarbonisation and the strategies for the sustainability of the industry, as well as the strong social footprint of the Union of Greek Shipowners.

Records also broke on the exhibition floor where organisers saw an increase of some 4% in exhibiting companies compared to the previous edition and a significant rise of over 10% in the number of visitors who are expected to tally up to a total of over 30.000.

Business was booming also during the event with major maritime industry players coming together to finalise significant deals such as the Atlas Maritime order for another pair of Suezmax vessels to DH Shipbuilding in South Korea in a move that will bring Leon Patitsas’ current orderbook above the $2 billion mark.

ONEX Group signed an agreement with leading international tug design company Robert Allan for a production line of 30 tugs worth 280 million euros, with at least 20 of them to be completed by 2026, in a strategic cooperation slated to change the landscape in the Greek market, as the exclusive rights for the construction of a specific series of tugs in the country are granted to the ONEX Group.

Two South Korean companies, KR and HD Hyundai signed a MoU to collaborate on the pilot project of a cloud-based next-generation smart ship solution (ISS 2.0) developed by HD Hyundai. This project aims to equip and demonstrate next-generation smart ship solutions on vessels. KR plans to conduct technical reviews based on classification rules as well as domestic and international regulations, verifying the suitability of the next-generation smart ship solutions.

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Source: Posidonia

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