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CNA - 'Maritime Cyprus 2019 ' Conference reaches a successful completion

CNA - Limassol - The high caliber of speakers and the overwhelming participation of more than 900 participants from around the globe proves once again that “Maritime Cyprus 2019” Conference is one of the most successful and popular shipping conferences in the world, Permanent Secretary of the Shipping Deputy Ministry Costas Iacovou has stressed.

In his concluding remarks at the final day of the conference, Iacovou said, inter alia, that in the discussion on “Regulatory measures: a product of necessity or pressure”, views were presented on the importance of cooperation throughout the shipping industry, and the adoption of technology to increase productivity. It was widely agreed that the emissions impact of shipping has put a pressure to take actions and that regional regulations would not be effective, as shipping is a global activity and as such, as he said.

The Shipping Deputy Minister to the President, he added, in an interview that followed the first panel, highlighted the potential of blue growth, the importance of diversity and inclusion, and the prospects for digitalisation. Reference was also made to the efforts made towards a safer, greener, smarter and more inclusive shipping industry.

He also said that the discussion on “Shipowners: The new landscape” focused on emissions, the importance of shipping to Europe, freight markets and public shipping companies. Views have been expressed that speed reduction would achieve emissions reduction immediately. It was further noted that we should learn from the technologies adopted in other industries.

He noted that during the discussion on the theme “Are there brighter days ahead for Shipping?”, it was suggested that decarbonisation and digitalisation are shipping’s key drivers. The shipowners’ widespread commitment to improving the industry’s impact on the environment was duly noted while the importance of the human factor and attracting talent were also emphasised.

Iacovou said that during the discussion on the theme “Is competitiveness the price of environmental protection?”, the panelists suggested that environmental protection represents not only a challenge but also an opportunity to drive innovation. LNG’s features to meeting future environmental targets was discussed.

The importance of the human element was underlined during the discussion on "Managing Change: Disruption or destruction?” with acknowledgement that diversity and inclusion will be central to adapting to the challenges ahead. The panel shared the view that education of the younger generation is the starting point to ensuring the opportunities in shipping.

According to a press release, today’s discussions commenced with the panel “Seafarer to e-farer”. The panel agreed that resilience is an essential quality for the future seafarer. There was collective recognition that education and training must evolve to meet the changing needs of the industry, and that compelling incentives and demonstrating career progression opportunities will be critical to attracting and retaining talent for the long-term.

The second panel explored the topic of “Raising finance: a whole new ball game”. The panel questioned the impact of ownership structures and considered the particular challenges for smaller shipowners. As traditional bank financing reduces, the panel noted the rise of alternative lenders and importance of simple financing structures. Views were also expressed on how environmental, social and governance issues are now major investment drivers, and how the Poseidon Principles which have been adopted by 11 banks to reward environmental progress will help to incentivise change.

“We look forward to welcoming you to Maritime Cyprus Conference 2021”, Permanent Secretary of the Shipping Deputy Ministry concluded in his remarks.


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Agency : CNA

Date : 2019-10-10 17:41:28


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