Page 29 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΣΕΠΤΕΜΒΡΙΟΣ 2022

Τhe Founder & CEO of Load Line Marine SA, expresses his view on the prospects of the
dry bulk sector and explains his company’s growth strategy. Mr Souravlas also talks
about the EU’s green shipping policies, the sector’s digitalisation, and the return of
Greek banks to shipping finance.

THERE IS A TWO-TIER

MARKET IN THE

ATLANTIC

George Souravlas, Ö How do you expect routes and cargoes Due to the Ukrainian crisis, the world economy
Founder & CEO in the dry bulk sector to change due will grow at a slower pace, and there will be a
at Load Line Marine SA
to the Ukrainian crisis? Do you think contraction in some areas. Dry bulk shipping
in a discussion with smaller and medium-sized bulkers will rates are closely correlated to global economic
Giannis Theodoropoulos benefit? growth. However, one must consider that for the
Global grain consumption will remain unchanged time being, natural gas will be replaced by coal,
as grains fulfil a basic human need. So far, ships a commodity carried mostly by larger bulkers, so
have had to cover longer distances to com- this may counterbalance the negative effect of
pensate for the shortage of grain exports from slower global economic growth.
Ukraine. A case in point is the grain from South
America, Australia, or even India carried to cover â Would you consider expanding your
North Africa’s needs. In this case, medium-sized fleet by incorporating larger bulk
ships have benefited the most, as traders have carriers?
found them more attractive due to the economies Load Line Marine SA, with a fleet of 9 Handy-
of scale achieved over long distances. size, 3 Supramax and an Ultramax bulk carrier,
However, commercial corridors seem to be open- specialises in the Handy to Ultramax size sec-
ing, and grain cargoes are shyly flowing out of tor. We have solid commercial relationships with
Ukraine again. In this case, smaller and older several charterers and have managed to build
bulkers will be preferred as they need lower extra a name and reputation in this field. The sectors
war risk insurance. mentioned above have exhibited stability over
That said, Ukrainian grain exports will decline as the years and, in recent years, excellent returns.
crops will be smaller compared to previous years. However, this does not mean that expanding into
larger sectors is out of the question. An expansion
á Which geographic areas do you think in this direction may be of interest in the future.
will play a crucial role in the short-term
future of dry bulk carriers? ã Load Line Marine S A strongly empha-
These days, there is a two-tier market in the Atlan- sises excellence in ship inspections.
tic. On the one hand, South America is very active Given the increased demands of char-
in grain exports, while on the other, grain cargoes terers and port authorities, how can
originating from the Continent/Baltic/Black Sea a company continue to achieve this
areas are limited. Looking at the areas that may excellence?
benefit from South America as a major grain sup- Our company emphasises and takes pride in the
plier is crucial. high level of maintenance of the fleet it man-
Another area where we expect to see increased ages. I am delighted to announce that two of
activity is the US Gulf when the crops are ready for our managed vessels have received USCG’s most
shipment, which is usually in Q4. We may also see prestigious award, the E-Zero designation. Our
some trade coming from India after the monsoon fleet of 13 bulk carriers has received 22 Qual-
season is over and the export ban has been lifted. ship21 awards over the years from the USCG.

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