On a live on stage interview with Costas Paris and The Wall Street Journal, the prominent Greek Shipowner George Procopiou, founder of Sea Traders S.A., Dynacom Tankers Management Ltd. and Dynagas Ltd., said that the crisis after 2008 is due to the problems of the banking sector being transferred to the shipping sector, just as in the past commercial activity had been hit by high interest rates imposed by the banks in an attempt to overcome their own problems. He also predicted that the trade war between the United States and China will be smoothened out over the next 5-6 months because, if it continues, potential losses will exceed potential gains. He added that 15% of the world fleet will have fitted scrubbers by 2020, when the new environmental regulations will enter into force. It is for this reason that the remaining part of the world fleet will have to seek other solutions. He also noted that LNG will be the least harmful fossil fuel and will “bridge” the transition to clean energy solutions. Finally, he submitted his own proposal, namely to design new vessels with an emphasis to new engines, propellers, etc. Were this to happen, the sector would gain more than 50% of emission reduction resulting from the reduced speed of vessels alone.
Video: https://www.youtube.com/watch?v=giFtrQ4Tbjw&index=10&list=PLrVV4r4gUoNwj0Oi2r1VQV4lndll9Qr9z&t=0s
