Geopolitical tensions dominate industry discussions at Posidonia
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- June 3, 2026
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June 3, 2026
Geopolitical tensions and shifting trade dynamics have been causing maritime industry leaders and stakeholders a major headache, as it became evident during a panel discussion at Posidonia (June 1-5).
The TradeWinds Shipowners Forum Greece (2 June), held under the theme “Resilience in the Face of Disruption”, brought together senior executives from leading ship-owning companies, financial institutions and industry bodies to discuss how operators are repositioning their businesses, protecting asset values and adapting to rapidly evolving trade patterns shaped by sanctions, shadow fleet activity and growing 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
Paul Pathy, President of BIMCO and CEO of Fednav
Dry bulk sector adjusts to new trade flows
Meanwhile, Charis Plakantonaki, Chief Strategy Officer of Star Bulk Carriers, noted that geopolitics have fundamentally reshaped the dry bulk market.
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
Charis Plakantonaki, Chief Strategy Officer of Star Bulk Carriers
… she said, while warning that a prolonged crisis could trigger a broader economic downturn despite currently solid market fundamentals.
Costas Delaportas, President and CEO of DryDel Shipping, echoed concerns about the longer-term implications of the crisis, particularly the risk of fuel shortages and disruptions to cargo flows. In addition, James Lewis, Vice President of Global Operations at Cargill Ocean Transportation, stressed that the unprecedented pace of geopolitical change has made risk management and operational flexibility more critical than ever.
Calls for stronger action against the shadow fleet
Meanwhile, Rolf Westfal-Larsen Jr, CEO and Chair of Westfal-Larsen Management and INTERTANKO representative, called for stronger enforcement measures to tackle the growing threat posed by the shadow fleet.
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 shadow fleet operators will increase
Rolf Westfal-Larsen Jr, CEO and Chair of Westfal-Larsen Management and INTERTANKO representative
Hormuz transits amid security concerns
Addressing escalating tensions in the Middle East, Marinakis took a firm position on vessel transits through the Strait of Hormuz, one of the world’s most strategically important maritime chokepoints.
He stated that none of his company’s vessels would attempt to transit the strait under current circumstances, citing crew safety as the primary concern.
"Even if we had to pay a passage fee, it would be far better than having the Strait closed", Marinakis pointed out.
Criticism of partial sanctions on Russian oil
The Greek shipping executive also voiced strong criticism of existing sanctions policies targeting Russian oil exports. He argued that partial sanctions have distorted global energy markets while failing to achieve their intended objectives.
"Indians and Chinese are buying drastically discounted Russian oil, and we Europeans are paying sky-high prices", he stressed.
According to Marinakis, sanctions can only be effective if applied comprehensively. In his view, if sanctions are to be effective they must be total: “They should blockade any shipment from Russia to the rest of the world, because if sanctions apply only partially, that’s bad for Europe and the rest of the world that does not trade Russian oil.”