It seemed like much of the maritime community was focused on Posidonia this week, and TradeWinds’ editorial team was out in force hearing from some of the big beasts of the industry. The following is a selection of some of the highlights from the event.

Amid the parties and dealmaking, there was also controversy at the Athens event.

Two major Greek shipowners cast doubt on the efficacy of sanctions against Russia. George Procopiou said sanctions “never work”, while Evangelos Marinakis said they hurt the West more than Russia.

European Union transport head Adina Valean hit back, insisting that sanctions are hurting Russia and economic damage was being inflicted.

Meanwhile, Navios Maritime group supremo Angeliki Frangou said she was optimistic about the future, but not for the reasons she would like. Her focus was on tonne miles. She insisted disruption in global trade routes as a consequence of the Russia-Ukraine war and Covid-19 is a boon for shipping.

John Michael Radziwill, chief executive of C Transport Maritime and Goodbulk, was getting hot under the collar about the operational efficiency of ships. He said at the TradeWinds Shipowners Forum that coordination between shipowners and counterparties led to maritime efficiency leaks and more pollution.

Eastern Pacific Shipping owner Idan Ofer (right) stands with chief executive Cyril Ducau on the deck of Ofer’s vessel Better Space at Posidonia 2022. Photo: Julian Bray

Shipping magnate Idan Ofer wants to bring ammonia as a ship fuel into the mainstream. And he’s putting his money where his mouth is by signing an initial contract for at least one ammonia dual-fuel gas carrier from South Korea.

And finally, what would George Economou spend $100m on? It turns out that bulk carriers would be among his top picks. The shipping veteran sees a three-year upside for the sector. He also singled out tankers and the container ship market but concluded that ultimately the question boils down to one’s attitude to risk.