Targeting Greek Shipping's $16B Budget

Around the world, people involved with shipping are booking flights to Greece and preparing to do business at the Posidonia 2002 International Shipping Exhibition, held on the Piraeus waterfront from June 4-7.

2002. With the Greek market worth a conservative $16 billion per annum, there is plenty of incentive.

The business week begins with The Posidonia Congress and a program of high level international presentations and debate, at the Megaron, Athens Concert Hall on Monday. June 3.

Posidonia's attraction for exhibitors and visitors is not hard to see. Greek shipowners control the biggest fleet in the world. Their drive towards fleet renewal and regeneration is creating multi billion dollar opportunities throughout the international maritime industry.

Current Sale & Purchase (S & P) deals average $86 million a week.

Greek owners control some 4,000 ships totaling more than 155 million dwt. Enormous business potential flows from this. Just to keep this massive and highly diverse fleet trading costs around $5 billion a year.

In April 2002, the Greek shipowners' order book stood at about 250 newbuildings, worth almost SI billion - shipyards around the world now regard Greek buyers as their most important customers.

And Greek operators dominate the second hand ship market. Last year, S&P and demolition transactions involved 547 ships worth $4.65 billion.

Posidonia typifies Greek shipowners' ability to combine the serious business of world shipping with close personal business relationships, warmth and hospitality.

"It is a wonderful and unique opportunity to see and be seen, to make new contacts and strengthen existing relationships," is how the CEO of one company put it.

There is a huge social calendar. Receptions range from the formal and lavish, for over 2.500 guests, to smaller, more intimate gatherings. They start the week before Posidonia opens and continue long after the exhibition has closed.

Posidonia 2002 is the 18th biennial International Shipping Exhibition to be held in Greece. It already looks set to break all records. Exhibition space at the Piraeus Port Authority Exhibition Centre on Akti Miaouli has been increased by over 10 percent to cope with demand.

Germany and Singapore return with national pavilions at Posidonia after several years' absence. They join current national pavilion exhibitors including Croatia, Cyprus, Denmark, Finland. France, Japan, Korea, Malta, The Netherlands, Russia, Turkey, Ukraine, United Kingdom, U.S., Hong Kong SAR and Romania.

The Posidonia Congress The 2nd Posidonia Congress 2002 starts the business week, on Monday, June 3. It has already attracted leading industry figures, both as speakers and delegates.

The Congress has two clear objectives. The first is to examine the role of sea transport in a rapidly changing world. The second is to evaluate the public image of shipping.

Keynote addresses will be given by:- • George Anomeritis, Greek Minister of Mercantile Marine • Loyola de Palacio, Vice President of the European Commission Speakers include: Kenneth S. Courtis, Vice Chairman - Asia, Goldman Sachs • Phillipe Louis-Dreyfus, President of the French Shipowners Association • Stelios Haji-Ioannou, Chairman of easyGroup • K.H. Koo, Chairman of The Hong Kong Shipowners Association Harald Kuznic, Head of Shipping, Landesbank Schleswig-Holstein Girozentrale • Tom Mangold, Senior Investigative Reporter, BBC TV Current Affairs • Nicho Stelmar Set to Expand Fleet The Posidonia Congress is held under the auspices of the Union of Greek Shipowners and the Greek Shipping Cooperation Committee and will be chaired by John C. Lyras, President of the UGS.

HELMEPA, which celebrates its 20th anniversary this year, is hosting a special Congress reception.