This is Vangelis Marinakis' proposal to the Trump government for free navigation, which will give breath to the world and the global economy.
His powerful husband Olympiacos and president of Capital Maritime & Trading Corporation, participated in the 30th Annual Government Roundtable of Economist in Lagonisi.
There, he referred to geopolitical developments which have been affecting the world economy and not only recently. He defended his proposal to Trump for tolls in the Straits of Hormuz, wanting to stand up for the need to replace the excessive war risk premiums that are currently burdening international shipping.
«My proposal has also been sent to the Trump administration and I believe it should proceed»Vangelis Marinakis originally said.
He explained his proposal in detail:
«First of all this was a proposal that was submitted during the "Posidonians" a month ago in Athens. I have also sent this proposal to Trump's government and it is official.
I think it is the right step to move forward and I can explain my argument.
Firstly, we have been paying extra war risk premiums all these years either there is war or not because of the risk involved in commercial activity in the region. Currently, premiums range from 1 to 3 million depending on the value of the ship.
So this is an important exit. So if there's a major transit and free shipping charge, you don't pay the war risk premium, which I said is pretty high.
Secondly, when there is free shipping, wars may rage for years without interrupting the functioning of the global economy. The leaders have sufficient time and are not pressured to secure a proper agreement on nuclear weapons, democracy, leadership, free navigation, key issues.
The third is that economies have been hit. The economies in the Far East, economies that cannot cope with inflation and higher energy prices and all the products we need for our everyday lives. That means a solution must be found. We have already been in this war for over 5 months, with huge disruptions.
Also, the amount of money from this transit charge could be shared, as stated in the proposal between all Arab countries already affected and damaged by this war».
