Europe is now facing the risk of a Chinese monopoly in the shipping industry, and in a world that depends entirely on it, the continent is losing ground without putting up a fight. This warning was delivered by Andreas Hadjiyiannis, President of the Cyprus Union of Shipowners, during a dinner with the President of the Republic of Cyprus, Nikos Christodoulides, last week in Athens.

Mr. Hadjiyiannis stated that what was once considered a possibility has now become a reality: China now holds the key to controlling the production of new ships.

"If this trend is not reversed in the long run, China will even have the ability to limit shipbuilding for its competitors and gain control of the global supply chain. Meanwhile, Europe’s shipping sector is choosing to focus solely on the development of green technologies," he remarked.

According to Mr. Hadjiyiannis, the European Union must recognize the magnitude of this threat and properly prioritize its objectives.

He assured that the Cyprus Union of Shipowners, with the same determination, will continue its efforts during this critical phase to prevent the collapse of competition, a framework established by Greek shipowners after the end of World War II.