Mr Eddie Valentis: Tanker market has legs and is here to stay
7th Slide2Open Shipping Finance 2024 Conference
Wednesday 24 January 2024, 10:00 – 19:00
Megaron, the Athens Concert Hall, Banqueting Hall
The elite of the Greek Shipping Community gathered at the 7th Slide2Open Shipping Finance 2024 Conference. On-stage interviews with renowned shipowners such as Mr Costas Delaportas of DRYDEL SHIPPING GROUP (f. Meadway Shipping and Trading Inc.) and Mr Valentios (Eddie) Valentis, along with the first appearance and interview with the director of Alberta Shipmanagement, Ms Alexia Inglessis.
Official Address by the Minister of Maritime Affairs and Insular Policy of the Hellenic Republic, Mr Christos Stylianides, who stressed the importance of worldwide collaboration for the development of low and zero carbon fuels, asserting that finance, particularly through Public-Private Partnerships, is essential to meet the substantial capital requirements for decarbonization efforts.
For the seventh consecutive year, the Slide2Open Shipping Finance 2024 Conference took place on Wednesday, January 24, 2024, at Megaron, the Athens Concert Hall, Banqueting Hall. The event hosted 400 representatives from the political, business, academic, and research sectors, with online participation from 30,000 unique users, spanning 130 countries.
Just before the lunch, the spotlight turned to Mr Valentios (Eddie) Valentis, President / CEO, Pyxis Tankers Inc. & Konkar Shipping Agencies and Mr John Cotzias, Projects and Finance, Xclusiv Shipbrokers, President, Hellenic Shipbrokers Association, who discussed on how a medium sized listed enterprise fares today. Their ships, tankers and bulkers, are eco-vessels, having started the process very early (already in 2014). Their move to the bulk carrier market is a move of a “shipping company” that takes an opportunity when it sees one, rather than staying a pure “tanker company”. Being publicly listed has given them optionality (financing, operational) and transparency. They have not expanded the fleet, but they have grown the company and managed to restructure it, with much less debt. As regards geopolitical threats, he believes that the tanker market has legs and is there to stay. Small to medium sized Greek shipping companies are the backbone of Greek shipping and they have to be protected. More young people should come to shipping and stay there – this is a key issue. Finally, interest rate de-escalation is very important.
