George Xiradakis
President Association of Banking & Financial Executives of Hellenic Shipping Founder & Managing Director XRTC BUSINESS CONSULTANTS
George Xiradakis was born in Athens and grew up in Volos . He graduated from the Nautical Marine Academy of Aspropyrgos-Athens and he holds a diploma in Commercial Operations from City of London Polytechnic and an MSc in Maritime Studies from University of Wales . He served as Senior Manager in the French bank Credit Lyonnais both in Athens and Paris . In 1999 he founded XRTC Business Consultants which acts as a commercial representative of foreign banks and institutions in Greek Shipping Market . Since 2009 XRTC acting as Advisor to Chinese Finance market and in 2010 awarded in Lloyd ’ s List Greek Shipping Awards as “ Financier of the Year 2010 ” for the completion of the first bilateral loan between a Chinese bank and a Greek shipowner which was signed in the presence of both countries Premiers . Mr . Xiradakis is President of the Association of Banking and Financial Executives of Hellenic Shipping , Vice President of China Hellenic Chamber ( HCCI ). He is President Emeritus of International Propeller Club-Port of Piraeus , Honorary Member and Special Maritime Advisor of the BOD of the Piraeus Chamber of Commerce & Industry , BOD member of Piraeus Marine Club , Member of the Mediterranean Committee of China Classification Society and Member of the Hellenic Maritime Museum and Hellas Liberty Floating Museum . In May 2019 he participated in the European Parliament elections .
" Shipping financiers ’ concerns on the emerging security challenge "
Shipping is a high capital-intensive industry . The most widespread sources of funding of the shipping industry are mainly two , equity finance ( mostly in way of private equity / through private placements or private equity funds and through Initial Public Offerings ) and bank loans . Market estimates put global bank lending to the shipping sector at approximately USD 400 billion . The ship itself is the most important piece of the Lender ’ s security package and as such , the lender wants to ensure that the ship is adequately and appropriately insured and operated as well as that is apprised on any developments and material information in respect of the ship . The new compliance measures include historical and continued analysis of Automatic Identification System ( AIS ) transmission data of the vessels , AIS-related contract clauses , careful scrutiny of shipping documents , and ' Know Your Vessel ' checks . Banks should also screen the shipping company , any agents or third parties present in the transaction , and know the ports of call of the vessel for the particular transaction flow where possible . Using maritime data to identify what is now captured in the OFAC net , the banks can uncover the scope of potential sanctionable activity of their mortgaged vessels . These measures have become increasingly complex to implement for banks . Even though large and traditional European shipping banks have proceeded in recent years to reduce or sell their portfolios , the percentage they hold in the total of Greek shipping financing reaches 78 %. The remaining percentage of financing is covered by Leasing companies from Asian countries , mainly Chinese . However , as long as Maritime security is threatened by emerging challenges , the banking and investment flow will continue to be reduced . And without their support , Greek Shipping and therefore European Shipping won ’ t be able to hold its primacy in the top ranking of the Shipowning nations .