KASIDIARIS: The big surprise in the new ALCO poll for Flash.gr was the appearance of the so-called Kasidiaris party, with voting intention at 4%!
The former Golden Dawn member has made few, if any, public appearances since his release from prison (apart from some initial statements), with no interviews or media appearances that we are aware of.
Even so, his… signal was enough to lift the Alliance of Greeks, a party that had been practically absent from the polls until recently, to 4%.
That puts it, according to the ALCO poll, ahead of Course of Freedom, the party of Maria of Tempi and all the other “minor” players on the political scene, including the… splinter parties of what was once SYRIZA!
In short, on the current figures, “his” party appears to have… secured a place in Parliament, provided, of course, that it is allowed to stand in the election!
Meanwhile, the governing party of Kyriakos Mitsotakis is polling at 23.8%, down half a percentage point from September. The poll also shows a decline in support for Antonis Samaras, ahead of the formation of the new party expected for many months.
More precisely, the share of respondents who consider it very or fairly likely that they will vote for the “Samaras party” has fallen from 11% in June to 10%.
PS: The same trends, albeit with different figures, were also recorded by MARC for ANT1. Voting intention for ND fell by 0.5 percentage points to 27%, with an estimated vote share of 30.4%. Voting intention for the Kasidiaris party stood at 3.8%, with an estimated vote share of 4.2%.
That, however, puts it behind Course of Freedom and the party of Maria Karystianou.
Samaras… was not included in this poll.
NEW DEMOCRACY: Although it is the largest party by a clear margin in every poll, ND does not appear, at least for now, to have the momentum to reach its desired goal of winning an outright majority.
This was also borne out by the latest Alco poll (for flash.gr), in which the governing party polled at 23.8%, down half a percentage point from the previous poll by the same company.
The party’s voter retention rate is a significant problem, standing at around 60%. Among those who are moving away from ND despite voting for it in 2023, 21.9% say they are undecided, 2.3% say they will abstain, while 7.5% say they intend to vote for another party, apart from those currently represented in Parliament and ELAS.
The main issues are the energy crisis and the high cost of living, which are testing the public and inevitably weighing on the government, which faces a difficult equation as it seeks to win back disengaged voters.
MITSOTAKIS: The prime minister’s participation in the European Council summit in Brussels on Thursday and Friday will not be his last trip abroad in October.
At the end of the month, the prime minister will cross the Atlantic again, having visited recently, travelling to New York. On 29 October, he will chair an open high-level debate on “Maritime Security and Emerging Technologies” as part of Greece’s presidency of the UN Security Council.
In November, he will also attend the United Nations Climate Change Conference (COP31), which will be held in Antalya, Turkey.
By contrast, his trip to Saudi Arabia for the EU summit with Gulf countries is up in the air, as the meeting may be postponed. He also has another long-haul trip pending, to Australia, as he reiterated in an interview with the Greek-Australian newspaper Neos Kosmos: “It is my commitment to visit this wonderful Greek community in Australia as soon as possible,” he said.
BAD LOANS: Just as we are close to forgetting the art of diplomacy amid a series of clumsy moves internationally, a high-level informal debate is under way between the Single Supervisory Mechanism (SSM) and the banks.
The supervisory mechanism, newly inclined towards a more conservative approach amid an especially volatile geopolitical and economic environment, is systematically opening up a range of areas where it may tighten the rules.
Most concern how banks or servicers handle non-performing or restructured loans. The servicers manage securitised claims, with an indirect impact on the banks (note: cash flows from securitisations are linked to repayment plans for the senior notes).
Issues such as the duration of restructurings, how often they are assessed, age limits for restructurings or new lending, the use of guarantors and the growing problem of borrowers leaving debts to their heirs are adding to existing points of friction (the treatment of step-up loans, as well as loans in Swiss francs where the debt has not been converted into euros).
The banks, for their part, are raising the prospect of a holistic reassessment of “bad” loans held outside bank balance sheets, in order to accelerate the recovery of those deemed capable of being turned around and allow borrowers to return to the banking system.
They appear to be extending the supervisor’s pressure to the rest of the system (funds that hold loans, securitisation SPVs and the state, which guarantees the senior notes).
All this is happening in calm conditions, as that is the point of preventive supervision.
PANAGIOTIDI: Icon Energy, controlled by Ismini Panagiotidi, is further expanding its presence in container shipping, acquiring a 2.8% stake in a 1,800-TEU feeder vessel built in 2023.
The vessel is chartered to a major shipping group until at least February 2028, at a daily rate of $24,750, with at least $12 million in secured revenue. It is being acquired by a consortium of professional shipping investors led by an experienced shipowner and container ship operator, who will also take charge of its commercial and technical management.
This is Icon’s second investment in the sector, following its acquisition in June of a 4.6% stake in a 2,000-TEU feeder built in 2008, with contracted revenue of at least $19 million.
The strategy involves selective minority stakes in complementary shipping activities, with the aim of boosting returns and broadening access to expertise and investment opportunities, without distracting the company from its core dry-bulk business.
Icon has three bulkers, while Panagiotidi is also the founder and chief executive of Pavimar, which has a fleet of 14 bulkers.
PITTAS: EuroDry, owned by Aristides Pittas, has placed a new order for an 82,000-dwt kamsarmax, commissioning the vessel from China’s Hengli Heavy Industry shipyard for about $37 million.
The deal takes the number of bulkers the Nasdaq-listed shipping company has on order in China to five. The order will be financed through a combination of debt and equity, while the contract is conditional on the issuance of a refund guarantee.
The first two kamsarmaxes, ordered in May by affiliated company Eurobulk, are expected to join EuroDry’s fleet after delivery. Two ultramaxes are also under construction at Nantong Xiangyu, with deliveries scheduled for the second and third quarters of 2027.
Aristides Pittas believes newbuildings are now a more attractive option than secondhand vessels, as modern five-year-old kamsarmaxes are valued at levels equal to or higher than newbuild prices. The aim is to renew the fleet with more energy-efficient ships and strengthen the company’s competitiveness.
CYPRUS: Cyprus is making another attempt to complete the long-delayed project to import liquefied natural gas (LNG) through a floating storage and regasification unit (FSRU).
The Public Gas Corporation (DEFA) is assessing eight companies that have expressed interest in completing the terminal at Vasilikos. The list includes Avax, Terna, Petrojet, China Harbour Engineering, ECOnnect Energy, Saipem, Baran International and Archirodon.
The aim is to draw up a shortlist by the end of 2026, followed by a tender. According to DEFA chairman Giorgos Pissendis, the final selection could be made before the summer of 2027. The estimated contract cost is about €180 million.
The project has been delayed for years; it was initially expected to begin operating in 2019. The floating unit Etyfa Prometheas, with a capacity of 137,000 cubic metres, was converted for the project but has remained anchored off Malaysia since December 2024. The project has also been the subject of a European Union investigation into the use of EU funds and loans.
METLEN: Short positions in the shares of Evangelos Mytilineos’ group have fallen again. The Aggregate Net Short Position (ANSP), as reported to the FCA, declined to 6.56% on 14 October from 7.12%.
The reduction amounts to 803,187 shares.
STAR BULK: The shipping company’s share price closed yesterday at its lowest level since its debut on Euronext Athens. It fell 2.91% to €25.4, with trading worth €2.2 million.
The stock made its debut at €27.5 in mid-September. Shares in the public offering, however, were priced at €24.5.
JUMBO: Goldman Sachs has been particularly active in Jumbo shares recently, generating notable buying flow.
The stock had lagged the market after the summer correction, and the global shift towards higher-quality balance sheets is supporting buying. But Goldman Sachs’s heightened activity, alongside these factors, may signal a change in informal market-making.
Could Citi be losing one of its longest-standing… strongholds?
JUMBO II: As noted above, despite broader pressure on the domestic market, the company owned by Apostolos Vakakis is on a winning streak, taking the stock to €26.8 yesterday (+1.67%).
It has gained more than 9% over four sessions, taking its market capitalisation back to €3.6 billion.
Optima recently issued a “buy” recommendation with a target price of €34.4, while Citi, the more “cautious” of the two on the stock, raised its target to €27, from €25 previously.
It maintained its “neutral” rating.
CENERGY: Another sharp drop for the stock, which now stands at €21.82, having lost almost 8% of its value in two sessions, with its market capitalisation now at €4.63 billion. The decline from its year-to-date high of €26.2, reached in late June, has reached 16.7%.
Viohalco, its parent company, is also under heavy pressure. It fell to €15.8 yesterday, down 2.95%. In this case, the decline from its year-to-date high has reached 28%.