Greek shipowners seem set to extend their voluntary economic cåontribution to the state of some $112m annually, into 2018 through their voluntary payment of increased tonnage tax. The extension of this optional levy will likely top the agenda at an extraordinary general meeting of the Union of Greek Shipowners (UGS) scheduled for June 26.

Human error remains a leading cause of ship accidents, with $1.6bn in losses due to mistakes and negligence over the past five years - and economic challenges are an increasing concern reports global insurance company Allianz in its annual review of maritime casualties.

Shipping is still not enjoying a genuine single market and remains hampered by endless paperwork according to European shipowners and seafarers, contending this is to the detriment of the crew, which faces increased workload with repercussions on job satisfaction and overall smooth shipping operations.

There is no need for either market based or regulatory intervention to break a period of sustained low freight rates, erosion of asset values and oversupply according to a shipping industry panel, disputing the conclusions of similar panels, especially one of industry leaders at Danish Maritime Days (DMD) 2016.

Greece's largest port Piraeus and its operator, China's Cosco Shipping have teamed up with the operator of Shanghai port, the world’s largest container port, to promote container shipping traffic and create synergies to boost trade and new business opportunities.