which was indefinitely extended in the spring of
2014.
These EU guidelines set the framework for the
adoption of certain, primarily fiscal, measures by
member states, which help restore the competi-
tiveness of the Community fleet, with the aim of
containing the flight of European vessels to third-
country flags, creating new jobs for workers from
EU member states, and further developing a high-
value-added maritime cluster.
These guidelines include a series of advantages
for the shipping industry, related to the taxation of
the vessel, the social security contributions of
seamen and shipowners, the training of seafar-
ers, the promotion of research etc.
The compatibility of the relevant regulations
adopted by individual member states, including
Greece of course, with EU law is judged on the
basis of the aforementioned guidelines.
Demands- Prospects
There are still lots of potential for increasing the
contribution of Greek-owned ocean-going ship-
ping to the Greek economy, despite the fierce
international competition — especially from Asia.
The main prerequisites for achieving this goal —
as is the case for any other business activity—
are the existence of a steady growth-oriented
regime and the consolidation of a feeling of trust
and productive cooperation between Greek gov-
ernments and the shipowning community.
It is estimated that the contribution of Greek-
owned ocean-going shipping to the country’s
economy could lead to the doubling of the annual
added value generated by the industry and the
creation of 70,000 new jobs in the next five years.
The key demands of the industry, as set out by
the European Community Shipowners’
Associations (ECSA), which features a substan-
tial Greek membership, concern the following:
●The continuation of the EU-approved state aid to
shipping, mainly in the form of tonnage tax and
the subsidization of employer social security
contributions, which enabled the preservation
of the Community fleet and the increase in the
number of European seafarers. European
shipowners, who have been pushing for a
common shipping policy, do not consider these
regulations to be privileges, but necessary
measures for safeguarding the competitiveness
of the European Union’s shipping industry
against third country fleets, since the stability of
the relevant institutional framework is the best
guarantee for the security of investments, and
the strongest motive for their expansion.
●The provision of the appropriate financial sup-
port and, in general, the creation of the requi-
Trade with Greece
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