Brotherhood of Hydrae Athens and Jason Stefanatos, Global Decarbonisation director, Maritime at DNV
“From Hydra to the World’s Oceans: Shipping in the midst of Thucydides’ Trap”
Amidst growing geopolitical challenges, the rapid green transition and digital transformation, Hydra once again emerged as the ideal field for sober dialogue. Leading figures from the global shipping community gathered to chart the industry’s safe course in an uncertain international environment. Opening and Historical Review The conference was opened by Yiannis Sachinis, President of the Brotherhood of Hydra Athens, who referred to the historical course of the Brotherhood and the significant contribution of Hydra to the liberation struggle of 1821. As he noted, the Brotherhood of Hydra Athens was founded in 1890 by members of the Miaoulis, Tombazis, Kountouriotis, Bountouris, Sachinis, Voulgaris, Tsamadou, Kriezis, Theodorakis and Giourdis families. He made particular reference to the contribution of the people of Hydra to the establishment of the modern Greek state, pointing out that four members of the informal Brotherhood, even then, served as prime ministers, while many people from Hydra were elected members of parliament and assumed ministerial positions. At the same time, he emphasized that the Brotherhood’s main goals remain the preservation and promotion of the memory of Hydra’s contribution to the nation, the protection of the island’s architectural heritage and the attraction of young people to the maritime profession.
The representative of the Metropolitan of Hydra, Spetses and Aegina delivered a welcome address, referring to the historic church of Faneromeni, where the sailors prayed before boarding their ships and departing for the naval battles. He also invited the public to visit the ecclesiastical museum. The chairman of the conference, George Tsavliris, Principal, Tsavliris Salvage Group, welcomed the delegates and invited them to a constructive discussion. George Sp. Alexandratos, President, Hellenic Chamber of Shipping, General Manager, Apollonia Lines SA, congratulated Mr. Sachinis and praised the social contribution of shipping, citing as an example the creation of a special dormitory by the Athena Ioannou Martinou Foundation for the accommodation of women studying at the AEN School. At the same time, he called on the state to modernize maritime education.
Charalambos Simantonis, President, European Shortsea Network, President, ΕΕΝΜΑ, focused on the “Thucydides Trap”, highlighting the complications of military conflicts in the Black Sea and the Strait of Hormuz. Regarding the green transition, he pointed out the narrow adequacy of new fuels and called for the 9 billion euros in annual revenues from the EU ETS to be directed to subsidizing the construction of new green ships.
Finally, Danae Bezantakou, CEO of Navigator Shipping Consultants, ConceptFounder of YES Forum and President of Propeller Club Piraeus, highlighted the size and dynamics of Greek shipping, recalling that the Greek-owned fleet numbers approximately 6,000 ships, with more than 1,000 new ships under construction and the sector directly or indirectly employing approximately 200,000 families with a prospect of reaching 500,000. As she emphasized, behind these figures lies a great challenge: the need for shipping to attract the new generation and to ensure the human resources that will support the future of the sector, but also that the demographic problem has already knocked on our door, underlining that this year alone we have 30,000 fewer students in the first grade of primary school.
1st Section: Applications of Nuclear Energy in Merchant Shipping Coordinator: Dinos Arkoumanis, President, Academic Council of Keele University Greece.
Speakers: Panos Zachariadis, Technical Director, Atlantic Bulk Carriers Management LTD Nikolaos Melachroinos, Chief Financial Officer, Forth Shipping Maria-Athina Papathanasiou, Research Fellow, IENE Dimitris Patrikios, Managing Director Greece and Med Cluster, VGroup, Chairman, Intertanko Hellenic Med Panel Loukas Spiliotopoulos, CFO, 5 Ocean.
Dinos Arkoumanis highlighted the need for energy autonomy in Europe and presented the 4th generation SMR (Small Modular Reactors) reactors with a power of up to 300 MW, which offer compact design, passive safety and nuclear fuel lasting up to 25 years.
Maria-Athina Papathanasiou noted that nuclear energy is not science fiction, as long as the appropriate legal, insurance and regulatory framework is established, targeting mainly larger, high-consumption ships.
Dimitris Patrikios suggested the book “The Thucydides Trap” by Thanasis Platias and emphasized that, although the technology exists, special safety systems, training and broader social acceptance are required in view of 2035.
Loukas Spiliotopoulos focused on the changes that nuclear technology will bring to crewing and the advantages of predictability of cash flows.
Nikos Melachroinos also intervened in the discussion, who observed the evolution from traditional shipbuilders to modern nuclear designs, stating that nuclear energy is not the panacea that will bring shipping to Net Zero, as it is only compatible with very large ships on fixed routes with predetermined ports. Nevertheless, it is worth considering that nuclear energy would mean the end of slow steaming and bunkering, which would radically change the dynamics of the market.
Panos Zachariadis also intervened, who characterized China’s safe thorium reactors as “atomic batteries”, arguing that Greek shipping can become a first mover.
2nd Section: Geopolitical Uncertainty & Crises (Iran – Ukraine) Moderator: Kostis Stambolis, President & Executive Director, IENE Speakers:
Panos Zachariadis, Technical Director, Atlantic Bulk Carriers Management LTD Christos Mavrovitis-Kountouriotis, Senior Lecturer in Finance & Accounting, Surrey Business School, University of Surrey Stavros Hatzigrigoris, Advanced Engineering Services
Kostis Stambolis analyzed the scenario “The world in turmoil”, explaining how the geopolitical crises in Ukraine and the Middle East directly affect fuel prices and are a key cause for the increase in inflation and accuracy. As for oil and natural gas, there is now a serious supply deficit worldwide at 8 million barrels/day and 18-20 billion cubic meters/year respectively, which is difficult to cover under the current circumstances.
Panos Zachariadis presented a well-documented critique of “green” fuels (such as green hydrogen, ammonia and methanol), arguing that hydrogen leaks are 40-60 times more harmful than carbon dioxide and that the production of green fuels requires an outrageous amount of energy for minimal environmental benefit.
Academic Christos Mavrovitis-Kountouriotis, referring to an interview of the then Minister of the Navy Pavlos Kountouriotis in “Sfaira” in 1916, highlighted the timeless relevance of his views on the economic impacts of geopolitical crises, the role of psychology and expectations and the taxation of shipping. He recalled, among other things, that during a period of national need, Greek shipowners had undertaken the transportation of wheat at rates 15% lower than those then current.
Stavros Hadjigrigoris took an out of the box stance, pointing out that there is no real energy crisis, but problems from sanctions, attacks on ships in the Black Sea and over-indebtedness, while he advocated nuclear energy and the preservation of the traditional values of the sector over the glamorous lifestyle. Position-points were also made by UCL Professor, Dept. of Earth Sciences, Michalis Tsamados, referring to China’s new Arctic shipping route, Marine Cloud Brightening technology and new bubble technologies for reducing ship resistance, and Emmanuel Vordonis, Former Executive Director, Thenamaris Ship Management Inc., who stressed the need to overcome fear and strengthen international dialogue and cooperation against multipolarity.
3rd Section: Maritime Education – Skills, Challenges and Prospects Moderator: Danae Bezantakou CEO, Navigator Shipping Consultants, Concept – Founder, Yes Forum, President, Propeller Club, Port of Piraeus Panelists: George Sp. Alexandratos, President, Hellenic Chamber of Shipping, General Manager, Apollonia Lines SA Danae Markopoulou, Asst. Director, AEN Laconia Capt. Sarantos Economopoulos, Training Coordinator, Golden Union Group (Seaport Services) Capt. Christos Psorras, Crew manager, Gaslog LNG
Danae Bezantakou sounded the alarm about the particularly low entry bases to the AEN Schools, pointing out that the issue of attracting young people to the maritime profession requires immediate attention. The discussion presented solutions for attracting young people, as well as the findings of an international survey conducted by YES FORUM in 12 countries within the framework of the Poseidonia Exhibition on what young people are looking for from shipping and what influences their choice. As the survey revealed, motivations and expectations differ significantly from country to country, as in developing countries the motivator is money, while in developed countries it is passion. In Greece both go hand in hand. At the same time, it was pointed out that separation from family, mental health and the real conditions of the maritime profession influence the decision of young people to follow the sea. The solution, therefore, is not only to inform them about the professional prospects, but to give them a realistic picture of the profession from an early age. In this direction, the integration of shipping into school curricula, proper preparation before the first sailing and systematic support of young people can play a decisive role. Danae Markopoulou and Capt. Christos Psorras stressed the importance of mentoring programs and proper preparation of trainees so that they are not disappointed by the first sailing.
Capt. Sarantos Economopoulos agreed on the need for continuous encouragement and lifelong education.
George Alexandratos brought up the chronic omissions of the state, such as the use of environmental funds for education and raising awareness among the new generation. The conference was attended by speakers from Hydra, including shipowners Nikos Melachroinos and Loukas Spiliotopoulos, as well as professors Christos Mavrovitis-Kountouriotis, Michalis Tsamados-Boundouris, while Danae Stefanou-Kountouriotis and shipowner John Locke-Verveniotis were also present. At the same time, prominent personalities were also present, such as Ioanna N. Vardinoyanni, Ioanna Martinou, Vasilis Pateras, Vasilis Terzis, Yannis Kechagias, Theofanis Theofanous, Nikos Tsavliris, Yannis Trifillis, Vasiliki Vlachantoni and Evi Peristeri.
The presence of the students of the Hydra High School, who, accompanied by their teacher, Evangelos Pantelis, attended the Conference and had the opportunity to gain knowledge and come into contact with the world of Shipping, was special. As part of the initiative, a knowledge competition will also be held, giving the students the opportunity to utilize what they gained from their participation in the Conference. The conference was successfully completed and the participants renewed their appointment, enjoying a traditional meal at the restaurant “I Oraia Hydra”
