Page 21 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - SEPT 2025

Despite current uncertainties,

we remain cautiously

optimistic about the market

outlook

Polys V. Hajioannou reflects on the current market
dynamics and the future of the dry bulk sector and
discusses the significance of committing to ESG
initiatives. The Safe Bulkers CEO also emphasises
the need for support mechanisms on the road to
decarbonisation, as well as the opportunities for
growth that come with this transition.

An interview with Polys V. Hajioannou, How do you view the current supply- the Carbon Intensity Indicator (CII), and
CEO of Safe Bulkers, demand balance in the dry bulk the EU ETS are tightening supply by
segment, and in which areas encouraging slower steaming and
by Giannis Theodoropoulos
do you see opportunities over prompting earlier vessel retirements.
the next 3–5 years? Moreover, challenges in securing financ-
The dry bulk shipping industry is influ- ing, combined with the uncertainty sur-
enced by global macroeconomic trends, rounding future propulsion technologies,
infrastructure investments, commodity are making shipowners more cautious,
cycles, fleet supply, and, of course, reg- further curbing newbuild activity.
ulatory changes. As of mid-2025, we’re Despite some near-term uncertainties,
seeing a relatively tight supply-demand we remain cautiously optimistic about
equilibrium. On the demand side, China the market outlook over the medium to
remains the main driver, and its recent long term. Looking ahead, we believe
infrastructure stimulus package could that a resolution of the ongoing geo-
help sustain moderate growth. Mean- political tensions and the gradual nor-
while, India is gaining momentum as an malisation of trade flows could contrib-
emerging demand market, particularly ute positively to the market’s balance
for coal, driven by its expanding industrial in the years to come. As we continue
sector and increasing energy needs. The to grow, we are confident about the
global grain trade has remained relatively future prospects of our company and
stable, though it is increasingly exposed our stock performance on the New York
to climate variability and geopolitical Stock Exchange (NYSE). Safe Bulkers
developments such as the ongoing ten- stands on a solid foundation, combining
sions in the Black Sea. an experienced team of professionals,
On the supply side, fundamentals remain a modern fleet with high specifications,
supportive of freight rates. Fleet growth long-lasting world-class partnerships,
is restrained, limiting the new tonnage and a solid corporate strategy, on which
entering the market. At the same time, we can build further and evolve, capital-
environmental regulations like the Energy ising on new opportunities and delivering
Efficiency Existing Ship Index (EEXI), profitability even amidst volatile markets.

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