Chartering strategies used by Hellenic shipping companies and the effect of the Covid-19 outbreak on them
Master Thesis
Author
Gerostathis, Christos
Γεροστάθης, Χρήστος
Date
2024-09Advisor
Polemis, DionisiosΠολέμης, Διονύσιος
View/ Open
Keywords
Strategies ; Chartering ; Greece ; Shipping ; Companies ; COVID-19Abstract
The main title of this thesis is chartering strategies used by Hellenic shipping companies and the effect of the Covid-19 outbreak on them. This is a bibliographic work, based on the bibliographic overview of information and mainly on annual reports regarding three types of shipping companies in Greece (dry bulk, wet bulk, mix fleet). It is of the utmost importance to study the chartering strategies of these companies. Moreover, a further investigation is conducted on the effect of the covid-19 pandemic regarding the extent to which the pandemic affected their strategies.
From the bibliographic investigation of the issue, the following conclusions emerged. The strategy followed by the companies as a whole is to engage in short-term or immediate chartering. However, this option, with the current circumstances of the pandemic and the Russia-Ukraine war, gives every opportunity to eventually have volatility in dry bulk vessel charter prices, which means a decrease in BDI, a decrease in interest rates, a decrease in ship values and in charter profits, limited liquidity, reduction in cash flows, inability to comply with loan agreements and inability to pay dividends.