Emanuele Grimaldi, a major owner of car carriers and ro-ro vessels, deplored the rise of protectionism amid rising geopolitical tensions.
“Nothing, unfortunately, is as contagious and as infectious as protectionism,” the managing director of the Grimaldi Group and chairman of the International Shipping Chamber (ICS) told the European Shipping Summit on Wednesday.
In his speech, Grimaldi mentioned protectionism in the same breath as decarbonisation among the biggest challenges facing the shipping industry today.
The Italian shipowner referred in that context to recent news that the European Union will probe China for granting competition-distorting subsidies to its electric cars industry.
Grimaldi’s statements suggest that he does not think that it is to any kind of foul play that China owes its prowess in this particular sector.
“China has been very successful in moving forward with the technology needed for the transition to electric cars and batteries and is growing fast,” he told the audience.
“Here in the EU we have not been as quick,” Grimaldi added.
Trade with China has been a big boost to the car carrier industry.
In May, the Grimaldi Group inked an order with a Chinese yard for two more pure car/truck carriers (PCTC).
The Naples-based shipowner has exercised options with China State Shipbuilding Corp (CSSC) for a pair of 9,000-ceu vessels with delivery in 2026.
The options take Grimaldi’s total orderbook with CSSC to seven vessels worth $630m.
The initial order for five ammonia-ready PCTC vessels was signed in January with CSSC-subsidiaries Shanghai Waigaoqiao Shipbuilding (SWS) and China Shipbuilding Trading Company (CSTC), with deliveries starting in 2025.
Grimaldi Group currently has 17 of the ammonia-ready car carriers under construction.
