Portugal has a glorious maritime heritage but, to meet today’s global challenges, it cannot live in the past. The Portuguese Government, led by the Ministry of the Sea, has plans for a comprehensive development of the entire maritime industry. Far-reaching initiatives are making Portugal a hugely attractive home for global shipping and transforming its ports and maritime services sector
Shipping is leading the way in cutting Greenhouse Gas emissions especially when account is taken of current projections for trade growth as the world’s population and levels of prosperity continue to increase. Implementation in 2020 of a 0.5% global sulphur cap for marine fuel is expected to force bunker prices higher and to encourage shipping to seek alternative fuels. Is LNG the answer?
Shipping is changing with smart technology, artificial intelligence and geopolitics looking to influence future trade flows and buying patterns. But what will global trade look like in the future and what does shipping need to do to ensure it plays its part in what is an unpredictable future?
Where is the money coming from? Traditional banks and alternative lenders or foreign Governments? How is China’s One Belt, One Road impacting the port and shipping sector and what effect is Chinese investment having on Portugal? IMO regulation and fuel compliance will raise the costs for owners and charterers: is finance available as the deadlines draw closer?