INVESTMENT: Things are going well abroad was the central message of the annual European Investment Monitor survey by EY on foreign direct investment in productive projects (greenfield), with the caveat that it remains to be seen whether… we can do better at home.
The most important finding was that Greece had improved its appeal as a destination for foreign greenfield investment.
In 2025, the year in which projects under the Recovery and Resilience Facility are expected to peak, Greece attracted 47 investment projects, up 34% from 2024. Meanwhile, 55% of respondents said their company planned to develop or expand its operations in Greece over the coming year.
No detailed breakdown of investment by sector was provided, but the services sector appears to have dominated. It is growing so rapidly that it is also the main driver of inflation, as SEV president Spyros Theodoropoulos noted.
INDUSTRY: Asked which industrial sectors could attract more investment, Spyros Theodoropoulos recalled the answer given by then-SEV president Theodoros Papalexopoulos to a question from Andreas Papandreou about which industries the government should support.
“The sectors in which we have the best entrepreneurs,” Mr Papalexopoulos replied to the prime minister at the time.
The essence of that remark remains relevant today, according to Mr Theodoropoulos.
NORD STREAM: It was an open secret. That is one way to describe the case of the explosions that hit the Nord Stream pipelines in September 2022.
Few were convinced at the time by the theory that the… Russians had blown up their own pipelines, destroying energy infrastructure worth billions that connected them to Europe’s largest economy.
But it took four years to reach yesterday’s trial in Hamburg, where the defendant, Serhii Kuznetsov, then an officer in his country’s armed forces, admitted through his lawyer that he had acted on state orders.
“Whatever I did, I did on orders,” his lawyer said, according to German media reports. The defendant himself nodded in agreement.
Kuznetsov did not testify, citing an “obligation to maintain military secrecy”. His defence argues that he acted as a soldier and that the pipelines were a legitimate military target because they generated revenue for Russia.
The real bombshell, however, is in the indictment.
From the outset, the German federal prosecutor has argued that the operation was organised on the orders of Ukrainian state authorities and has accused the defendant, among other things, of involvement in a war crime because the attack targeted civilian infrastructure.
All this is happening even though the German government is one of Ukraine’s biggest financial and military supporters.
It appears, however, that Germany’s judiciary is truly independent and is therefore not hesitating to put the case on trial.
NORD STREAM II: The revelations have already stirred political debate in Germany, at a particularly difficult time for Kyiv.
The AfD, now the country’s leading party in opinion polls, with support at around 30%, is exploiting the case, calling for a full investigation into the identity of those who gave the orders (clearly at a very high level), an end to military aid to Ukraine and demands for compensation.
Its co-leader, Tino Chrupalla, has already said the existing evidence is enough to halt all military aid.
The Merz government, meanwhile, insists that supporting Ukraine is a matter of European and German security, regardless of how the trial unfolds.
The problem for Zelensky is that all this is happening while his country is under enormous pressure.
Russian missile attacks are relentless, exposing major gaps in Ukraine’s air defences, while Trump is becoming increasingly demanding of the Ukrainian leadership, with US pressure narrowing its room for manoeuvre.
Now there is another headache. Ukraine continues to deny any state involvement, but the revelations will not simply disappear.
The political question is what will happen if it is established in court that a country receiving hundreds of billions in funding from Europe organised the destruction of critical energy infrastructure belonging to one of its biggest funders.
Such a development could redefine the limits of current European policy towards Ukraine.
LAMDA MALLS: Lamda Malls is proceeding with a capital return of €11m, following a decision by the extraordinary general meeting convened on 2 October.
The amount will be received by Lamda Development, which earlier this year received a dividend of €7.59m from Lamda Malls.
TSAKOS: The Tsakos group is returning to the containership market for the first time since 2022, ordering two 3,200-TEU vessels from China’s Hengli Heavy Industry shipyard.
The two containerships, scheduled for delivery in the fourth quarter of 2028, are estimated to cost about $48m each, bringing the total value of the order to $96m. They will be fitted with scrubbers and equipped to connect to shore power.
It has not been clarified whether the ships have already secured charters. The move strengthens the group’s presence in the feeder containership segment at a time of a strong freight market. Its fleet currently includes 10 containerships, among them six newbuildings of about 2,800 TEU delivered in 2023 and 2024.
The new investment follows an order for two capesize bulk carriers, also at Hengli, for delivery in 2028.
PAPADIMITRIOU: Liquimar Tankers, backed by the family of Dimitris Papadimitriou, is returning to the newbuild tanker market after about two decades, with an order for three suezmax vessels at China’s Jiangsu New Hantong Ship Heavy Industry shipyard.
According to shipbuilding sources, the vessels will have a capacity of 157,000 dwt, will run on conventional fuels and are scheduled for delivery in the second half of 2030. They are estimated to cost just under $86m each. It has not been clarified whether the deal includes options for additional ships.
The investment is part of a fleet renewal plan. The company is reported to have sold the suezmax vessels Orpheas and Evridiki, built in 2007, this month to Dubai-based oil trader Onex DMCC for $68m each.
Liquimar, based in Athens, was founded in 1990 and is part of the Dioryx Maritime group, which has a long track record in container shipping.
SHIPPING: VLCCs are securing rates of more than $790,000 a day, despite a pullback from record highs.
The market for very large crude carriers (VLCCs) loading in Brazil is showing signs of easing, as charterers seek to rein in the sharp rise in freight rates.
Petrobras chartered the VLCC Arosa (299,000 dwt, built in 2017), backed by Lykiardopoulos, at Worldscale 704 for a voyage to China, equivalent to daily earnings of about $801,000.
In the same market, the Maran Artemis (319,000 dwt, built in 2016), owned by the Angelicoussis group, agreed a rate of WS 718, with daily earnings of about $797,000.
Worldscale (WS) is the international system used to calculate tanker freight rates. A rate of WS 100 corresponds to the benchmark rate, while higher figures indicate proportionally higher freight rates. Thus, a fixture at WS 704 means a rate equal to 704% of the benchmark rate for that route.
Despite the slight correction, the market remains extremely strong, as higher demand in the Middle East and attacks on ships are limiting available capacity.
PROKOPIOU: Dynacom Tankers Management, backed by George Prokopiou, is fixing one of its vessels at exceptionally high rates, taking advantage of increased demand for shipments of Saudi oil through the Red Sea.
According to Tankers International, the VLCC Alexandros, with a capacity of 300,000 dwt and built in 2022, was chartered by Saudi Arabia’s Bahri at Worldscale 950, equivalent to daily earnings of $908,952. Meanwhile, Kpler identified a similar fixture for the Atokos, also with a capacity of 300,000 dwt and built in 2025. Both vessels are expected to load in early November.
The Alexandros fixture is for a voyage lasting more than 61 days, with indications pointing to a transit through the Suez Canal.
The market is being supported by Riyadh’s efforts to increase exports via Yanbu, after the East-West pipeline returned to operation following Houthi attacks. Dynacom has already made voyages in the area, despite heightened risks to merchant shipping.
ASTAKOS: A €524m investment planned at Platygiali in Astakos has taken another step in the licensing process. The project involves converting the existing commercial port into a marina for mega-yachts and developing tourism and other complementary uses.
The Xiromero Municipal Council unanimously issued a positive opinion on a study for the partial demarcation of eight streams in the area, six of which lie within the Platygiali Maritime Industrial Area. The process is linked to the siting of the planned facilities and flood protection.
Behind the project, known as the “Nautilus Project”, is Astakos Terminal S.A., while MYMAR Nautilus Investments Limited has been appointed master developer.
The plans include, among other things, a marina with capacity for more than 350 vessels, hotel facilities, holiday homes and commercial uses.
The investment was included in the Strategic Investments regime in March 2025.
VANGELIS MARINAKIS: A top-tier signing for the shipowner — not for Olympiacos, but for Capital Tankers.
Andreas Konialidis is joining the shipping company as deputy chief executive and commercial director. He has announced his departure from the board of Heidmar Maritime Holdings.
The Nasdaq-listed company thanked the Greek executive for his contribution and is seeking a replacement.
He has more than 20 years’ experience in shipping, specialising in the tanker market.
CAPITAL MARITIME FINANCE: The oversubscription of the shipping company’s offering, according to reports, has doubled. The company is owned by Vangelis Marinakis.
The same sources say that the first two days point to “unprecedented” participation from retail investors. There has also been significant interest from abroad, with large foreign institutional investors subscribing to the book.
Today is the final day of the process and, as in similar cases, investor interest is expected to peak.
The final level of oversubscription and the price at which the securities will be offered remain to be seen. The price range is €7 to €7.68.
JUMBO: The share made a strong advance, accompanied by a surge in turnover, in yesterday’s session.
The stock closed up 4.5% at €26.36, while trading value exceeded €20m, putting the listed company among the banks, which typically record the highest turnover in the session.
At the same time, three block trades changed hands, covering 366,867 shares and worth almost €9.4m.
Although the stock is still down more than 6% over 12 months, interest has picked up following strong September sales, with the fourth quarter also in view; it is traditionally the retailer’s strongest.
Jumbo has also announced an extraordinary distribution of €1 to shareholders, with the ex-date set for 16 November.
HELLENIQ ENERGY: The share appears to be heading for €20, after setting a new all-time high of €19.50 yesterday, up 2.09%. More than 500,000 shares changed hands during the session, with trading value exceeding €10m.
Motor Oil also closed near its all-time high, at €69.80, up 1.45%, with its market capitalisation approaching €7.74bn.