Athens, Greece. Global shipping is facing a widening gap between political ambition and economic reality, as rising energy demand, geopolitical instability and the lack of alternative fuels at industrial scale push the goal of zero emissions further out of reach. The warning was delivered at the 10th Capital Link Maritime Leaders Summit in Athens on June 1 as part of Posidonia 2026.
Summit highlights market pressures
The summit, listed among Posidonia’s official conference events, took place at the Athenaeum Intercontinental Athens. Leading Greek shipowners said the market is increasingly being shaped not by traditional supply and demand, but by wars, regional crises, energy disruption and regulatory uncertainty.
Hormuz disruptions add urgency
The discussion took place as ship operators were again focused on the Strait of Hormuz, one of the world’s most important energy routes, where recent disruptions have forced companies to reassess risk, routing and costs.
Reuters reported this week that oil product tankers and an LNG carrier had made rare movements through the area, underlining both the strategic importance of the route and the uncertainty still surrounding normal operations.
At the same time, Gulf importers have been testing alternative routes, including through Saudi Arabia’s NEOM port on the Red Sea. Reuters reported that such workarounds can be far more expensive and remain limited in scale, reinforcing the summit’s message that disruptions to key maritime routes have both operational and economic consequences.
Calls for a stronger Greek role
Shipping Minister Vassilis Kikilias said Greece, as one of the world’s leading maritime powers, should not simply follow decisions taken elsewhere but actively help shape the international framework for the sector’s future.
Industry warns of disconnect on energy transition
The discussion then turned to the pressure building between regulation, energy security and market reality.
Nikolas Tsakos, president and CEO of Tsakos Energy Navigation Ltd, described the period from 2019 onwards as a continuous chain of shocks, from the pandemic and the war in Ukraine to the latest developments in the Middle East, which have turned shipping into a “roller coaster”.
He said there is a growing distance between environmental targets and the real energy needs of the global economy, and suggested that the debate is already shifting away from Net Zero slogans and toward the more immediate question of how the world will secure enough energy.
ICS issues risk guidance
As global trade adjusts to repeated shocks across major maritime chokepoints, the International Chamber of Shipping has urged vessels operating around Hormuz to carry out thorough risk assessments and rely only on verified information, describing the situation as fast-moving and unpredictable.