The global shipping industry is navigating an increasingly complex operating environment marked by geopolitical tensions, shifting trade routes, regulatory uncertainty and decarbonization challenges, according to discussions held at the TradeWinds Shipowners Forum during Posidonia 2026.
Opening the conference programme for Posidonia’s main week, the TradeWinds Shipowners Forum brought together shipowners, financiers and industry leaders to assess how maritime businesses are responding to one of the most volatile periods in recent history. Held under the theme “Resilience in the Face of Disruption,” the event focused on the strategic decisions shaping the future of global shipping.
Setting the tone for the discussions, Steve Gordon, Managing Director of Clarksons Research, outlined ten key data points illustrating both the scale of the industry and the pressures it currently faces.
The combined value of the global fleet and order book has reached $2.4 trillion, reflecting the industry’s significant economic footprint despite mounting geopolitical challenges. Transits through the Strait of Hormuz have reportedly declined by 95%, resulting in an estimated loss of 1.5 billion barrels of oil during the ongoing crisis. Approximately 7 million barrels per day and around 2% of the global fleet by tonnage remain stranded inside the Gulf, including 8% of the world’s VLCC fleet and 3% of the VLGC fleet.
At the same time, geopolitical events ranging from the conflict in Ukraine to disruptions linked to Houthi attacks and tensions involving Iran have significantly altered trade patterns. The average distance travelled by seaborne cargo has increased by 10% since 2019, a structural change that continues to affect vessel deployment and global trade flows.
Despite these challenges, market fundamentals remain relatively strong. The ClarkSea Index has recorded its strongest start to a year on record, while rates for VLGCs and crude tankers have reached approximately $40,000 per day. Container shipping markets have also maintained robust performance.
The global order book currently represents 21% of the existing fleet, while shipyards are expected to deliver a record 60 million CGT in 2027. Meanwhile, fleet ageing is becoming an increasingly important consideration, with 41% of vessels now aged 15 years or older. Maritime decarbonization is yet another issue with shipping contributing to about 2% of global greenhouse gas emissions.
For Greece, the discussions carried particular significance. Greek shipowners control 21% of the global bulker, tanker and gas fleet, placing them at the centre of decisions that will influence the industry’s direction over the coming decade.
In wide-ranging discussions and exchanges, senior industry leaders highlighted the new approach of operators to reposition their businesses, securing asset values and adapting to rapidly changing trade patterns in an era of sanctions risk, dark fleet proliferation and superpower rivalry.
“Shipowners are adaptable and flexible depending on market conditions and circumstances. Ultimately money talks and shipping doesn’t need to take sides on various differences between states, such as the US-China tariffs debacle,” said Paul Pathy, President, BIMCO & CEO, Fednav.
Charis Plakantonaki, Chief Strategy Officer, Star Bulk Carriers highlighted how geopolitics have changed the entire dry bulk market, saying, “For example the US-China situation shifted China’s focus from the US to Brazil. The ongoing Persian Gulf crisis has also hit us as hundreds of vessels are trapped either side of the Hormuz Strait. One of our nine vessels trapped in the region was recently damaged by an attack and the Red Sea instability is still a cause of concern. Overall however, supply and demand for bulker carriers continue to be strong and the market fundamentals are solid. However, if we end up having a prolonged crisis an economic downturn will be inevitable.”
James Lewis, Vice President, Global Operations, Cargill Ocean Transportation argued that the biggest challenge is the speed of change which is unlike any other period in modern history. He said: “We haven’t seen change of this scale for the last 20 years. While the world is witnessing tensions between West and East, uncertainty between the two superpowers is concerning. Risk management is the key to building the efficiencies and flexibility required to address the challenges across every facet of our business.”
Rolf Westfal-Larsen Jr, CEO & Chair, Westfal-Larsen Management; INTERTANKO, focused on the threat the dark fleet is pausing to global shipping. “Shipping needs stronger enforcement and state control is required to fix this problem. Currently any corrective measures are ad hoc and follow no visible disciplined manner and if this doesn’t change, impunity for dark fleet operators will increase.”
A major focus of the TradeWinds Shipowners Forum was maritime decarbonization, an issue that continues to divide opinion across the sector. Panellists explored the implications of delays to the IMO Net-Zero Framework and debated the availability of alternative fuels, the readiness of supporting technologies and the impact of sustainability requirements on investment decisions.
Baroness Charlotte Vere, Group Head Market Development, CORE POWER said that “shipowners have accepted that decarbonisation is coming”.
Claire Wright, Managing Director, Hanwha Ocean Europe agreed that the discussion now is more than whether decarbonization will happen. It has shifted from talk on energy transition to talk about resilience.
Bo Cerup-Simonsen, CEO, Maersk Mc-Kinney Møller Center for Zero Carbon Shipping, said “We are enabling now the technologies for when they are really needed in the future when regulations are in place.”
Representing the European shipowners’ voice in the panel, Sotiris Raptis, Secretary General, ECSA said: “We want a clear commitment from the EU that if we have an agreement with the IMO, the points about ETS etc. will be dropped. European shipowners are paying Europe €9 billion annually.”
Evangelos Marinakis, Founder and Chairman of Capital Maritime & Trading Corp., shared his views on the current geopolitical situation. He stated that none of his vessels would attempt crossing the Strait of Hormuz, citing crew safety as the overriding concern, but added: “Even if we had to pay a passage fee, it would be far better than having the Strait closed.”
Participants also considered whether environmental objectives remain a priority for shipowners amid commercial pressures and ongoing market uncertainty. Discussions extended to how financial institutions are integrating sustainability considerations into lending and investment strategies.
Posidonia 2026 will continue until 5th June 2026 with a broad programme of conferences, seminars, networking events and industry announcements. Among the upcoming highlights are the launch of Lloyd’s Register’s ESG Advisory Service and ESG Index, as well as a new initiative from the Maritime Emissions Reduction Centre (MERC) aimed at reducing greenhouse gas emissions from the existing global shipping fleet through research, pilot projects and data-driven solutions.
The event is being held under the auspices of the Greek Ministry of Maritime Affairs and Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners, with support from the Municipality of Piraeus and the Greek Shipping Co-operation Committee.
For more information on the event, visit https://posidonia-events.com.
