In a recent interview, IMO Secretary-General Arsenio Dominguez stressed the urgent need for better living and working conditions for seafarers. He urged Greek shipowners, who control nearly 20% of global tonnage, to invest in sustainability and technology, emphasizing the importance of workforce welfare, training, and mental health support.
Amid heightened tensions in the U.S.-Israeli-Iranian conflict, Greek shipowners are risking dangerous passage through the Strait of Hormuz to capitalize on soaring oil prices. Despite warnings, at least twelve vessels have braved the perilous waters, motivated by potential earnings of up to $500,000 daily amid significant safety concerns.
Greek shipowners have shifted their investment focus towards newbuild gas vessels, spending around $18 billion since 2021. The majority of this investment, approximately $13.8 billion, has been allocated to LNG vessels, with an additional $4 billion spent on LPG vessels. This strategic move reflects their anticipation of increased demand for gas.
