Global shipping industry showing signs of recovery

Global Business

The world’s largest international shipping exhibition opened its gates in Athens Monday. This year’s Posidonia 2014, which is held every other year in Greece, the world’s shipping leader, is the biggest ever.

A record number of participants attend the event as global shipping shows signs of recovery.

It is the event almost no one from the shipping industry wanted to miss this year. Asia’s traditional shipbuilding powers showcase the largest number of shipyards ever at any of the previous Posidonia exhibitions. And according to event organizers, newer players from the Gulf countries increased their presence by 200 percent.

Industry insiders say that the shipping business is slowly improving after it collapsed in 2009. From engine manufacturers to equipment suppliers and software makers, everyone seeks a slice of the investment assets and the partnerships forged here. The biggest national participation belongs to China, followed by South Korea and Japan. And Hong Kong is back after a ten year absence.

19000 visitors and over 1800 exhibitors from 93 countries will be networking with the international and the Greek shipping community here at Posidonia 2014. And many hope that much of that networking will end up in multimillion dollar deals.

CCTV’s Filio Kontrafouri reports. 

Global shipping industry showing signs of recovery

Global shipping industry showing signs of recovery

The world's largest international shipping exhibition opened its gates in Athens Monday. This year's Posidonia 2014, which is held every other year in Greece, the world's shipping leader, is the biggest ever.
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