IHS FAIRPLAY

Danish Maritime Days 2016

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12 | October 2016 | Fairplay.IHS.com Shipownersarelookingforwaystotakedollarsfrom thebottomline.Theonlydiscussiontheywantto conductisaboutcuttingcost.Ownersappeartohave littlerealinterestintheverylatesttechnologyifit meansincurringunnecessaryexpense.Theyopenly disregardthetraditionalnicetiesofloyaltyand customerservice.ThisistheausterityPosidonia. Whichiswhythetwitteratiwerebuzzingwitha sharpcommentfromNikolasTsakosataCapitalLink forumthat"theGermansknowasmuchabout shippingastheGreeksknowaboutthecarindustry". PerhapsthepresidentandCEOofTsakosEnergy Navigationmighthaveusedmorediplomaticlanguage atatimeofpoliticaltensionbetweenthetwoshipping nations.Herewasamomentwhenthesmokeparted andthemirrorswerealigned:thisisalsoanangry Posidonia.GreekshippingblamesGermanpoliticians, atleastinpart,forthetoughtimesathome. However,theyarenotpickingoutChancellor Merkelalone.GreekprimeministerAlexisTsiprasis hardlythetoastofthelocalmaritimecommunityand didlittletohelphispopularitywithownerson Posidoniaopeningnight.Ignoringhispreparedscript, TsiprasspokedirectlytoEuropeanpoliticiansrather ↘ Russia's prime minister, Dmitry Medvedev, attendedthepresentationceremonyofthedelayed MS-21airlinerlastweek.Thetwin-engineshort-and mid-rangeplanewithacapacityof150-212passengers isscheduledtorollofftheproductionlineinlate2018as adirectcompetitortotheveteranBoeing737andthe newerAirbusA320family.Itwillbeahardsellinwhat israpidlybecomingasaturatedmarket.Nevertheless, Medvedevbelievesthisproductwilldrivetherenais- sanceofRussia'sonce-greatcivilaviationbusiness. Althoughconstructionofthisaircraftwillusethe 'outofautoclave'manufacturingprocess,notmuch elseofthisMS-21(Airlinerofthe21stcentury)design willchallengemarket-leadingtechnology.Existing competitorscanbeexpectedtoreducetheirowncosts toensurechallengersarethwarteddespitetheriskof slashingmarginstothebarestminimum.Meanwhile, BoeingandAirbusareinastruggleoftheirown. ThisisaparalleltowalkingthehallsatPosidonia. ThedailyupdatesofSouthKoreanshipyards'turmoil andtheobviousfearsofbusinessesthatrelyona steadyflowofnewbuildingorderstokeepthecash moving,suggestthatbright,brash,andexpensive standsaretheequivalentofsmokeandmirrors. Understanding Posidonia FAIRPLAY Industry insight

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