Χρηματοοικονομική κρίση 2008 και η επίδραση στη ναυτιλία
This present diplomatic piece of work is an endeavor to localize the causes of the global financial crisis, to define what this crisis is and, in the first phase, to demonstrate that this crisis has reached the heart of sea-going merchant shipping, affected by international macro-economic developments. The paper examines the financial impact of the crisis on the operation of shipping enterprises, the effect on the critical domain of shipping finance, on the stock exchange and how exchange rates react to the decisions and results of business practices. It reports on several significant index numbers, which show in practice how the reduced profits of shipping companies affect their credit worthiness and their share values. It then continues to examine the effects of international economic uncertainty on shipbuilding and as a consequence, on the operation and structure of the shipbuilding industry, for the purpose of making citations and arithmetic assumptions. It also reports on the repercussions on employment in the shipping sector, while presenting the effect of the reduction, due to the crisis, in work in the sea faring industry on the Greek economy. Further, it discriminates between the shipping “tramp’ and “liner” and examines the extent to which each sea transportation category has been affected as well as the way it has been affected, while commenting on published results of Greek shipping companies. This paper reports on the process of modulation, whereby the level of freight is always related to the ships’ value, while also presenting the operation of the Baltic Center and the BIFFEX network. A reference to the ship scrap market and how it is affected by the crisis could not be omitted. Finally, the paper mentions the prospects for exiting the crisis which the shipping industry is undergoing and draws conclusions on its effects to date on the above mentioned sectors.