Greek Tech on the Rise in Shipping & Maritime
Shipping has been one of the most important industries in Greece since ancient times. With its key location that makes the country a crossroads between Europe, Asia, and Africa, Greece has been a maritime nation since the beginning of civilization. The international shipping industry is responsible for 90% of the world’s trade, putting Greece in a unique place of power in the global economy.
“Shipping has been one of the most important industries in Greece since ancient times.”
In this next post of our Greek Tech Rising series, we take a deep dive into Greece’s world of shipping and maritime and explore the companies that are improving the sector.
Greece as a World Power
While Greeks comprise a mere 0.15% of the world’s population, 20% of the ships engaging in global maritime trade are owned by Greeks. Greek ship owners still possess the largest merchant marine fleet in the world and almost half of the total fleet of the European Union. With the EU relying on shipping for more than 76% of its external trade, Greek shipping plays a crucial role in EU imports and exports, as well as in securing its energy needs.
“Greek ship owners still possess the largest merchant marine fleet in the world and almost half of the total fleet of the European Union.”
Throughout time, Greek fleets have remained highly flexible and adaptive to changes in the global trade economy, adjusting easily to new trade flows and patterns. They are traditionally owned by family-run small or medium-sized companies involved in bulk shipping.
Recent and Projected Growth in Global and Greek Shipping
2017 held the first ray of hope for a newly reviving economy in Greece, when for the first time after a long and difficult recession, global shipping showed its first improvements in the market. The Greek fleet is continuing to grow, increasing by 6.6% from 2017 to 2018. World trade also grew in the last few years and continues to grow, despite recent setbacks due to domestic policies in various corners of the world. Despite uncertainties related to policies in the US, China, and the EU post- Brexit, overall projections, according to the UNCTAD, estimate an annual growth of 3.2% percent in global maritime economy.
“The Greek fleet is continuing to grow, increasing by 6.6% from 2017 to 2018.”
New Companies Improving the Shipping and Maritime Sector
With the recent investments in entrepreneurship, innovative tech ideas are being implemented to improving and modernizing the country’s oldest industry. Here are five examples of companies that are revolutionizing the shipping and maritime sector.
Making ship inspections safer, cost-effective, and more efficient
Drop4Sea provides a solution to the dangerous and high-risk inspections previously done by crew members to assure the security of the vessel. Beyond just improving safety, it reduces costs and increases efficiency by employing drones to be flown to the inspection point. Once there, they provide instant high definition footage to the control center, which can be monitored by surveyors in real-time.
Offering a disruptive and modern solution to marina booking
SaMMY is an app which is able to transform any marina into a ‘smart’ one by providing e-booking services, as well as navigational and parking assistance to yachters, skippers, and marina administrators. A multi-purpose sensor grid made possible by the installation of various types of waterproof sensors collects meteorological and environmental data in order to monitor the conditions of the marina.
A global pioneer in maritime cybersecurity
Today’s globalized world contains problems ancient ship owners never had to consider. Aspida specializes in maritime cyber security solutions and risk management for port facilities, critical infrastructure, and vessels. One of its innovations includes award-winning program Nemesis, which monitors vessels and other remote assets against advanced cyber security threats.
Like Yelp, but for boats
BoatsAdvisor is the first platform that allows sailors to review privately rented sailing boats, motor yachts, and catamarans. Sailors are thus able to give each other advice, increase the credibility of the charterers and the boat itself, and ensure the safety of sailors and their friends and family. Credibility of the reviews is guaranteed by the control of BoatAdvisor’s specialists.
An easy tour-booking platform
Hopwave is a booking management tool for freelancers and SME tour and outdoor activity providers. Using this platform, they can optimize their bookings, manage and distribute their services, and control their businesses directly from their smartphones.
Greek Tech on the Rise
Shipping and Maritime is one of the major verticals undergoing transformation through technology. Explore the rest of the #GreekTechRising series to learn more about other trending industries, emerging ventures in each space, how they are all contributing to the overall rise of the Greek tech ecosystem.