Episode summary
Trade and Geopolitics on the High Seas | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · Hosts: Carol Massar, Tim Stenovec · Guests: Stamatis Tsantanis
Summary
Stamatis Tsantanis argued that geopolitics is making shipping more important, not less. He said the world is less stable than it was in July, with wars, military buildup and supply-chain uncertainty all increasing demand for the raw materials his fleets carry, especially iron ore, bauxite and coal. He also linked the rise in freight rates to longer routes around conflict zones such as the Red Sea and Black Sea.
He said global trade remains resilient despite tariffs and reshoring rhetoric because infrastructure and industrial production still require vast volumes of steel, metals and energy inputs. Tsantanis pointed to China as the key driver of seaborne commodities, saying it continues to import large quantities of iron ore and coal and remains central to global steel production. He also said roughly $5 trillion of committed infrastructure projects worldwide will keep demand elevated.
On costs, he said shipbuilding has become much more expensive, though fuel has been relatively stable, and he noted that his companies are building ships in China and Japan. Looking ahead, he expects shipping to stay volatile but adaptable, with the Middle East, defense spending and strategic alliances shaping the next phase of the cycle.
Key takeaways
- Tsantanis said conflict zones such as the Red Sea and Black Sea are forcing longer routes and higher freight rates.
- He argued that tariffs have not slowed global trade because infrastructure, metals and energy still have to move.
- He said China remains central to demand because it produces 56% of global steel and keeps importing iron ore and coal.
- Tsantanis said shipbuilding costs have surged, making new vessels much more expensive even as fuel has stayed relatively stable.
- He expects shipping to remain adaptable through geopolitical disruption and sees the Middle East as a major source of future investment.
Notable quotes
“Well, there certainly they're less stable. I mean, you have so many things going on around the world”
“Red Sea has been out of the question for more than a year now. Black Sea is out of the question because of uh missiles going on board ships”
“in theory that's a very correct statement but in practical terms I think global trade keeps going up every year after year and it's unstoppable”
“Well, it's all about infrastructure. It's all about defense. It's all about mil military spending. It's all about alliances”
How the episode opens
Bloomberg Audio Studios podcasts, radio news. — You're listening to Bloomberg Business Week with Carol Masser and Tim Stenc on Bloomberg Radio. — Uh you may remember on Wednesday, United Airlines CEO Scott Kirby warned that geopolitical tensions risk disrupting what's been a pretty hot start to the year. Here's what he said to Bloomberg's Lisa Abramowitz. Quote, "We're the largest global airline from the US. were exposed to all levels that are all around the globe. He later noted it would cause short-term pain, but his airline will quote stay focused on the long term.
I have to say it does feel like executives um we've talked about JP Morgan's uh Jamie Diamond, the conversation with David Rubenstein when he talks about what could maybe, you know, create some problems within financial markets and he talks about like what's going on around the globe and geopolitics. We're increasingly hearing folks point to that. That's exactly what we want to talk about with Stamata Santanis, chairman and chief executive officer of Synergy Maritime Holdings and founder chairman and CEO of United Maritime Corporation.
The two firms together, they're micro caps. They're traded in the US. Together they have a total of 25 ships.
They carry grains, wheat, corn, steel, copper, oil, and more all over the world. Stamatus is back here in the Bloomberg Interactive Brokers studio. Welcome back.
Thank you. Nice to be here. We spoke to you last uh over the summer in in July and and that that was a time of geopolitical tension too, but it was different type of geopolitical tension. Are things more or less stable in your view than they were then?
Well, there certainly they're less stable. I mean, you have so many things going on around the world.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- global shipping industry
- capesize
- geopolitical tensions
- dry bulk commodities
- maritime trade
Companies and tickers mentioned
- SHIP
- USEA
- Seanergy Maritime Holdings Corp.
- United Maritime Corporation
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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