Limassol, Cyprus. Columbia Plaza in Limassol hosted a debate on “Shipping through times of turbulence and innovation” organised by Cyprus Shipping News. The event brought together senior industry figures to discuss geopolitical shifts and the transition toward a greener and increasingly digital future.
Event and participants
The debate took place in the presence of Shipping Deputy Minister Marina Hadjimanolis, who addressed attendees and reiterated the government’s commitment to the maritime sector. A keynote speech followed by Cyprus Shipping Chamber president Andreas Neophytou, who referred to the resilience and strategic importance of the Cyprus maritime cluster.
Geopolitical reconfiguration of trade
The first part of the discussion focused on the geopolitical reconfiguration of global trade. Moderated by Vasilis Mouyis of Doric Shipbrokers, the panel examined the rise of US protectionism and its re-industrialisation agenda, with tariffs and trade disputes increasingly used as instruments of national security and contributing to changes in global trade patterns.
Trade routes and global outlook
Speakers said the term de-globalisation does not fully describe current developments, pointing instead to a more nuanced picture. They said trade routes are being reshaped through reshoring, nearshoring and friendshoring, while the overall volume and value of traded goods remain broadly proportionate to global GDP growth.
Flashpoints and currency discussion
The conversation addressed the Russia-Ukraine war and tensions in the Middle East, particularly Iran, and the risk of disruption to chokepoints in the Arabian Gulf and the Red Sea. Panelists also discussed the depreciation of the US dollar over the past 15 months as supportive of trade activity, while noting gradual shifts in its dominance as a reserve currency.
What do you see as the biggest risk to shipping from current geopolitical tensions?