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Ship Operating Costs: Current and Future Trends; Shipping Funds what’s next

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Anthony D. Faraklas, President of the Propeller Club, Port of Piraeus at the podium

The International Propeller Club of the United States, International Port of Piraeus, along with Moore Stephens, a leading international accounting and consulting association specialized in marine affairs, organized last Thursday the 1st Ship Operating Cost Presentation under the title ‘Ship Operating Costs: Current and Future Trends; Shipping Funds what’s next’.

Costas Constantinou, Managing Partner of Moore Stephens, Greece and Member of the Board of Governors of the Propeller Club welcomed the audience and the key speakers of this event, Geoff Woodhouse and Richard Greiner from Moore Stephens LLP, London and Capt. Andreas Xapolytos, CEO of  Tsakos Columbia Shipmanagement.

Geoff Woodhouse’s presentation was focused at the recent developments in shipping funds and in the context of current market conditions considering what the future might hold while Richard Greiner summarized the results of Operating Cost 2011 (the operating costs benchmarking study unique to Moore Stephens) as well as offered some insight into future cost trends. Resuming, Capt. Andreas Xapolytos, CEO of Tsakos Columbia Shipmanagement commented on the above presentations and in the actual cost analysis.

Captain Andreas Xapolytos, Richard Greiner, Costas Constantinou and Geoff Woodhouse

More than 120 participants from the banking and shipping sectors of the maritime industry, in addition to the great number of Propeller Club members welcomed the initiative and expressed their interest for a future Ship Operating Cost event particularly today under the difficult circumstances for the shipping sector… Watch this space!

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