More than 260 orders by Greek shipping interests are on orderbooks at shipbuilders around the world, with last year’s orders, in fact, aimed at acquiring vessels that are compatible with new Tier II and Tier III regulations to reduce emissions.
The surge in new orders is directly linked with a bevy of stricter regulations coming on line for international shipping, such as ballast management and filtration, new guidelines to be enforced by the US Coast Guard, as well as new regulations on nitrogen oxides (NOx) and sulfur oxides (SOx) emissions and MRV requirements.
As a result, Greek-controlled shipping companies and shipowners are increasingly turning to LNG-powered vessels and in fully digitalizing onboard operations.
Global shipping developments have also recorded boosted interest in this year’s Poseidonia 2018 exhibition, with organizers of the biennial trade show pointing to a record-breaking number of delegates and participation. Reservations are up 10 percent, compared to 2016, with some 90 percent of exhibition space already sold some five months before it opens its doors.
Organizers are currently predicting that more than 1,850 companies will participate, and with visitors expected to exceed 22,000.
Among the most prominent newcomers to Poseidonia will be the Gastrade utility and Gaslog Ltd, which will assume the independent Alexandroupolis natural gas system – a floating off-shore LNG reception, storage and gasification complex in extreme northeast Greece.
Another high-profile participant is International Maritime Industries (IMI), a consortium composed of Saudi Aramco, Lamprell, the National Shipping Company of Saudi Arabia (Bahri) and Hyundai Heavy Industries. The new consortium has already received more than 20 orders for offshore platforms and 52 vessels scheduled for delivery over the next decade.