With a maritime culture and industry steeped in history, an ever
growing global maritime presence and its upcoming tenure of the
presidency of the Council of the European Union in January 2017,
Malta successfully hosted the first Malta Maritime Summit, in
Valletta, between the 3rd and the 6th of October. Together with a
number of international and Maltese stakeholders, GANADO Advocates
participated in the Summit and shared its views on a number of
One of the most interesting debates during the Summit related to
that of legislating for the shipping industry in the remit of Green
House Gas (GHG) emissions. The debate saw the participation of the
Minister of Maritime Affairs and Insular Policy of the Hellenic
Republic, the Minister for Transport Communications and Works of
the Republic of Cyprus and the Director of Maritime Transport
Affairs at the European Commission, together with shipowners'
representatives, namely the Secretary General of the International
Chamber of Shipping and the Secretary General for the European
Community Shipowners' Association.
During the lively debate, a very important point was made by the
shipowners' representatives namely that when it came to
emissions from shipping, while the European Union should lead the
way, there was a general consensus that it should refrain from
'going solo' and that it should instead make a greater
effort at working with the International Maritime Organisation
(IMO) to achieve internationally accepted solutions. The
'regional' approach, seemingly adopted by the European
Union towards the control of GHG emissions from shipping, was
generally frowned upon. Shipowners' representatives present at
the summit reiterated the fact that a global approach to what is
essentially a global industry should be pursued.
Two members of the firm gave an interesting presentation on
securitisation and the capital markets as an alternative to
traditional ship finance and contributed to a panel discussing the
Cape Town Convention. A second Summit is already being planned for
There is general consensus in Malta that maritime events, such
as the Malta Summit, continue to augment Malta's well-earned
international standing as an important player in the shipping
industry. We will continue to report such events to our
Click here to read about
Malta's, Greece's and Cyprus' common front on shipping
policies (article published in Lloyds List in October 2016).
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