As well as the Italian Confederation Shipowners, the association of European shipowners ECSA also welcomed the preliminary agreement reached on Tuesday by the EU, in the framework of the trilogue, on the Basel III rules relating to changes in the regulation that sets out international standards for banks to preserve adequate assets against risks. The ECSA has highlighted that, with the agreement, it explicitly recognizes shipbuilding finance and that the new rules will allow banks to apply preferential treatment to portfolios in the shipping segment and, as a result, the new legislation will allow banks to finance shipping at competitive prices.

However, ECSA believes that more needs to be done in Europe to give access to shipping companies access to adequate financing and thus to support the competitiveness of the sector : " the strategic role of maritime transport for energy security, food and the supply chain of Europe, the secretary-general of the association of European shipowners, Sotiris Raptis, must also be properly recognised in the conditions for naval financing. Sustaining the competitiveness of the sector is a prerequisite for strengthening the security of Europe and supporting the continent's energy transition. The recognition of naval finance under the new European law is a necessary step forward, but clearly it is only a starting point. "

According to the ECSA, in order to safeguard and develop the competitive advantage of the European maritime industry compared to its major global competitors a diverse range of financing and funding instruments is needed.