**Prokopiou Warns Europe Against Unrealistic Shipping and Energy Policies**
Greek shipowner George Prokopiou has issued a stark warning to European policymakers regarding the need for realistic approaches to shipping and energy policies, emphasizing that global development hinges on open seas and access to affordable energy. His remarks were made during the Posidonia maritime exhibition, where he highlighted the critical role of shipping in the global supply chain.
Prokopiou, the founder of Dynacom Tankers, Dynagas, and Sea Traders, stated that shipping should not be viewed in isolation from the broader economic landscape. He pointed out that as geopolitical tensions rise and energy dynamics shift, decisions made without a grounded understanding of technical and economic realities could adversely affect global trade and economic growth.
Reflecting on the impact of the Covid-19 pandemic, Prokopiou noted that the crisis underscored the vital importance of shipping. Throughout the pandemic, vessels were instrumental in transporting energy, food, raw materials, and essential goods, ensuring that economies remained connected despite significant disruptions.
The shipowner expressed concern over the European Union's approach to the decarbonization of the shipping sector. He criticized the tendency of some policymakers to single out specific types of vessels as the primary contributors to emissions, arguing that this perspective overlooks the complexities of the industry and could lead to unintended consequences that undermine economic competitiveness and the efficiency of transport systems.
Prokopiou also addressed the issue of the "shadow fleet," a term used to describe vessels operating outside of regulatory frameworks. He indicated that the activity of this fleet has recently diminished due to restricted market opportunities, with Russia emerging as a key market for many of these ships. He raised alarms about the operational standards of these vessels, which often lack adequate maintenance and insurance, posing risks to environmental safety, navigational integrity, and human life.
A significant aspect of Prokopiou's address was the emphasis on the freedom of navigation, which he described as essential for global trade. He asserted that international sea lanes must remain open and free from additional restrictions, as the uninterrupted movement of goods is crucial for maintaining global economic stability.
In addition to shipping, Prokopiou highlighted the importance of energy in the context of ongoing discussions about the energy transition. He argued that the global demand for energy continues to grow, necessitating a balanced approach that acknowledges the reliance on traditional energy sources such as oil, natural gas, liquefied natural gas (LNG), and coal. He characterized the current period not merely as an energy transition but as one of "energy addition," where new energy sources are incorporated alongside existing ones rather than replacing them entirely.
Prokopiou stressed that energy security is not solely about the availability of resources but also about their accessibility at competitive prices. He warned that without affordable energy, the competitiveness of industries and economies could be jeopardized.
On the environmental front, Prokopiou defended the shipping industry against what he described as disproportionate criticism regarding its contribution to global emissions. He noted that shipping is responsible for transporting approximately 90 percent of global trade, and any initiatives aimed at reducing emissions must be grounded in scientific evidence and practical technologies. He called for the involvement of classification societies and technical organizations, which possess the expertise to evaluate available technologies and support the development of effective regulations.
In closing, Prokopiou connected the contemporary challenges facing the maritime industry to Greece's long-standing maritime heritage. He reaffirmed the importance of defending open seas as a fundamental principle of Greek shipping. As the international maritime community navigates through uncertain times, he urged a continued focus on freedom of navigation, energy security, and the seamless operation of global trade.