The founder of Capital Maritime & Trading warned that this specific fleet constitutes a growing risk for safety and the environment, as many ships move without insurance, without adequately trained crews and basic maintenance.
Mr. Marinakis called on the USA and E.U. to allow a short-term exception, so that buyers can legally send money for the dismantling of the ships that have been sanctioned. As he stressed, even a shrinkage of the “shadow fleet” by 10%-20% would have a substantial positive impact on maritime safety.
