What the polls showed and what they did not about Tsipras, Samaras, the Mitsotakis–Erdogan meeting, Patelis’ book, the Kampouridis dispute, and the Chian shipowners returning to their homeland

Hello, implicit the past week we got a reasonably bully representation of wherever the authorities stands from a polling perspective, since we saw information from astatine slightest 3 superior probe companies. Well, atrocious but…you can’t precisely telephone them “finished” with 30%–31% and different 10% not responding negatively to the government’s measures, which means they’re inactive wrong scope of returning to the fold. On the contrary, the absorption parties are successful unspeakable signifier successful the polls—sorry again, but what a show it was successful Thessaloniki, Nikos declaring himself “ready” successful flawless Cretan accent!

Give, Nikos, give…

Meanwhile, the measures announced by Androulakis successful Thessaloniki transportation a imperishable fiscal outgo that, with blimpish estimates, exceeds €4 cardinal annually. To instrumentality them, without the state returning to a authorities of memoranda and enhanced supervision, taxes equivalent to respective much ENFIAs would beryllium required! Even Tsipras doesn’t accidental these kinds of things anymore.

Tsipras – Samaras

Now, fto maine archer you that astatine slightest 1 of the 3 companies besides measured Tsipras’ party, uncovering it astatine 8%, arsenic good arsenic Samaras’ (if helium forms one) astatine 4.2%. But you recognize that unannounced parties cannot truly beryllium measured, which is wherefore they were not included successful the published results.

Policy promotion and interview

If you saw connected Saturday a gathering K.M. had with a national regarding location transportation of medicines to chronic patients, fto maine archer you this volition service arsenic a exemplary for promoting authorities initiatives successful the coming period. For example, helium mightiness not sojourn a home, but alternatively invitation to M.M. a radical of citizens affected by a ample portion of the Thessaloniki announcements. In general, K.M. volition question interaction with citizens and item authorities initiatives by emphasizing however overmuch they interest ample groups. Of course, helium volition besides bash a wide “round-up” successful an interrogation helium volition springiness connected Wednesday to Hatzinikolaou (ANT1), portion connected Thursday helium whitethorn spell to Lemnos (one of the borderline islands affected by the VAT reduction).

The “window” for a Mitsotakis–Erdogan meeting

The imaginable of a Mitsotakis–Erdogan gathering successful New York is apt but not yet finalized. This is due to the fact that their schedules are astatine odds. Still, logic suggests that immoderate look volition beryllium recovered for them to conscionable by the extremity of the day, but the tête-à-tête is not yet “locked in.” Erdogan speaks among the archetypal arsenic a caput of state, portion ours speaks among the past arsenic a caput of government. Moreover, Erdogan stays successful New York lone for the perfectly indispensable period. The “window” for them to conscionable is the two-day span of September 23–24.

Technical teams

On Wednesday, the overseas curate of Libya’s Western authorities volition travel to Athens, a motion that Athens wants to support unfastened channels some with Tripoli and Benghazi. Now, it’s imaginable that the Turkey–Libya statement mightiness beryllium ratified connected Haftar’s side, but adjacent that isn’t certain. On the different hand, talking with Western Libya is important due to the fact that it’s the authorities that “plays ball” with hydrocarbons. That’s wherefore Gerapetritis estimates that eventually, wrong October, method talks whitethorn statesman betwixt Athens and Tripoli regarding the delimitation of the EEZ, which has been near hanging for much than 15 years.

The Chief is surviving his myth!

Yesterday afternoon, close extracurricular the doorway of Flying Cat 4, determination was a lineup: a limousine, an escort vehicle, successful beforehand a Coast Guard patrol car, and a twelve information personnel. I thought to myself, on with hundreds of astonished overseas and Greek travelers: who is this idiosyncratic that warrants specified mobilization? “The Chief of the Navy,” they said—and indeed, without a subject uniform, truthful it was intelligibly a casual outing. And I thought: travel connected now, really? Not adjacent the Prime Minister has specified fanfare. The admiral is genuinely surviving his myth!

The “grand return” of A. Patelis – Speech by G. Stournaras

On October 6, Alexis Patelis’ publication The Grand Return volition beryllium disposable successful each bookstores, published by Papadopoulos. The erstwhile caput of the Prime Minister’s Economic Office recounts his experiences during his tenure astatine the Maximos Mansion from 2019 until his resignation successful December 2024. The publication people contains chartless behind-the-scenes stories astir the effort to crook astir the economy, the banking system, and the difficulties faced during that period. The presumption of the publication volition instrumentality spot connected October 9 astatine the “Onassis Foundation” amphitheater successful the National Gallery. Speakers volition see the Governor of the Bank of Greece, Y. Stournaras, ESM enforcement M. Athanasopoulou, writer R. Vitali, and A. Patelis himself, with writer K. Giannakidis moderating.

Another vigor deal: Revoil acquires “Maltezos”

Today oregon tomorrow, the acquisition of Maltezos (water heaters and energy) by Revoil volition beryllium officially announced. As CEO Evangelos Roussos had hinted for immoderate time, aft 3 decades of beingness successful the Greek petroleum market, helium handed implicit the baton to the caller procreation to look the situation of vigor transition. Maltezos, an progressive subordinate successful the vigor sector, is an important summation for Revoil, particularly fixed the genitor company’s strategical displacement from a accepted petroleum steadfast into a rising subordinate with beardown beingness successful renewables. This is wherefore REV ENERGY was founded astatine the extremity of 2024, with Revoil transferring assets worthy implicit €15 cardinal into the caller subsidiary. With the acquisition of Maltezos, the subsidiary’s worth whitethorn transcend €30 million—approaching 80% of the genitor company’s full worth. Official announcements are awaited regarding the financing of the acquisition and its expected footprint successful the vigor market.

Chevron, Athens, and the November bet

Many wonderment what would person happened with hydrocarbon exploration if past November’s U.S. elections had turned retired differently. The world is that Donald Trump’s instrumentality to the White House revived the “drill babe drill” doctrine and brought American vigor companies backmost to the forefront. It is telling that Chevron’s petition to enactment successful the Greek tender was submitted successful August 2024 but was approved by the Greek authorities connected the precise time of Trump’s inauguration. A symbolic lawsuit showing that Washington and Houston present determination successful step. Within this climate, Revithoussa—the tiny land adjacent Megara wherever the “heart” of Greece’s LNG beats—was filled past week with top-tier executives and businessmen. Energy magnate Dan Bergam managed to stitchery astir the full manufacture elite, with lone Giannis Vardinogiannis absent (represented by George Triantafyllou, Motor Oil’s Head of Strategy), to merchantability them American LNG. The timing was nary accident: conscionable 1 time earlier, Chevron’s introduction into the tender for Greece’s hydrocarbon blocks successful Crete and the Peloponnese had been announced—causing large enthusiasm astatine the Maximos Mansion. The authorities knows, however, that nary large firm beingness unsocial tin prolong Greece’s upstream narrative. Methodical planning, speed, and decisiveness successful licensing are required, to awesome that the state some wants—and is able—to determination up with exploration and exploitation of imaginable deposits. The adjacent “exams” volition travel soon. The extremity is to finalize the lease contracts and designate the Chevron–HelleniQ Energy consortium arsenic the concessionaire of 4 blocks—ideally earlier U.S. Energy Secretary Chris Wright’s sojourn to Athens successful November for the Partnership for Transatlantic Cooperation connected Energy (P-TECC). This forum, involving 20 governments and much than 400 officials and manufacture representatives, volition service arsenic a cardinal trial of credibility for Greece. If the stake is won, the state volition person connected its broadside not lone the 2 apical U.S. giants, ExxonMobil and Chevron, but besides 2 promising “satellites”: Energean, seeking a spouse for Block 2 successful the Ionian westbound of Corfu, and HelleniQ Energy, besides looking for strategical allies to measurement much powerfully into costly exploration. Whether Greece volition capitalize connected this momentum—or stay a spectator successful a “Hollywood blockbuster”—remains to beryllium seen successful the coming months.

Attica Group plans caller shipbuilding

As the tourer play for Greek ferry operators begins to slice with the attack of precocious September, the contention for fleet renewal is intensifying—especially among the 2 large groups, Attica and Minoan Lines. The caller quality I person to stock concerns the Attica Group. I larn that plans are underway for different passenger–vehicle ferry, which volition bolster the fleet aft 2028. It’s a well-guarded secret, but thing stays hidden successful the acheronian room. More details volition travel successful owed course, since absorption has not yet finalized the design. Meanwhile, past week saw the commencement of operation of 2 E-Flexer vessels astatine the Chinese CMI Jinling Weihai shipyards. A reminder: it was past summertime erstwhile the Greek-owned radical agreed with Stena RoRo connected a semipermanent charter with acquisition enactment for these 2 ships. Their transportation is scheduled for April and August 2027. They are the largest vessels ever ordered by a Greek ferry institution and volition beryllium deployed successful the Adriatic. They were co-designed with Stena RoRo and built to Attica’s specifications. So, we’re talking astir 3 newbuilds successful total. At the aforesaid time, successful the discourse of the greenish transition, the radical volition instantly retreat Superfast III from the Patras–Ancona way successful bid to equip it with scrubbers (catalytic converters, successful plain Greek). The process volition instrumentality 2½ to 3 months. Superfast I, II, and XI person already been fitted, and I perceive that Blue Star Delos, Patmos, and Myconos are adjacent successful line. Here I’ll halt sharing information—can’t pain each my cards successful 1 go.

Executive moves everyplace – radical coming and going

Tomorrow it is expected to beryllium officially announced that Themis Chasiotis, General Director of Communications and Sustainability astatine Papastratos, is leaving aft a agelong (20-year), impressive, and palmy vocation astatine the company—likely to effort his manus with his ain firm. Last Friday it was abruptly announced that Marina Spyridaki, AEGEAN’s Director of Corporate Affairs and Communications, is leaving the airline, handing implicit her presumption to Marina Valvi, until yesterday the company’s Marketing Director. According to well-confirmed accusation from caller days, the 2 departures are related, since Ms. Spyridaki volition soon beryllium progressive successful the baccy sector. There are besides notable moves successful our banal marketplace analysts’ community. Petros Tsourtis, a long-time expert astatine Optima, decided to determination to the Investor Relations Department of Credia Bank, which has chosen to importantly boost its beingness successful the superior market. Market sources besides study that 1 of the champion analysts successful our vigor sector, Nikos Athanasoulias of Eurobank Equities, is leaving—his adjacent destination is chartless for now.

IASO’s holdings

Not one, not two, but 3 caller companies were created successful caller days wrong the “perimeter” (to get a caller polling term) of the IASO Health Group. Specifically, past Friday, September 12, 3 companies were established: Alceste Single-Member S.A., Amadis Single-Member S.A., and Atys Single-Member S.A. Their intent (all three) is portfolio absorption (holding companies) and concern services (in shares, bonds, existent estate, etc.). Each institution has an archetypal stock superior of €25,000, paid successful currency by the sole shareholder “IASO Private General, Obstetrics-Gynecology & Pediatric Clinic–Diagnostic, Therapeutic & Research Center S.A.,” represented by Emmanouil Doulgerakis. Doulgerakis himself, an obstetrician and IASO Group’s CEO, has been appointed President of each 3 companies, portion committee subordinate seats are held by Maria Papamarkou (Group COO) and Aristotelis Gyparis (Group CFO). Their office are astatine 37 Kifisias Avenue, the aforesaid determination arsenic IASO itself. A reminder: IASO was acquired successful 2021 by U.S. money Oaktree Capital, which has besides invested successful Greece successful tourism, existent estate, and shipping. The IASO Group includes not lone the General and Gynecology Clinics but besides IASO Thessaly, the IASO Pediatric Clinic, the assisted reproduction halfway Institute of Life, and the MedStem Services stem compartment bank. The backstage healthcare assemblage remains… hot—so each determination is worthy watching.

Kambouridis – DCI Advisors: And if we exchanged harsh words…

It took 3 full years and countless hours of costly ineligible and lawyer consultations to yet scope an out-of-court colony betwixt DCI Advisors Ltd—the UK institution processing the Kilada Hills task successful Porto Heli—and Dolphin Capital Partners, controlled by Miltos Kambouridis. The rift betwixt the 2 sides began successful precocious 2022 but became nationalist successful 2023, erstwhile Dolphin Capital Investors Limited, past the genitor of DCI, decided to region Kambouridis from his manager relation connected the London Stock Exchange. The institution cited breaches of practice presumption by DCP, escalating tensions. The roots spell further back, to 2018, erstwhile DCI Advisors and DCP signed an statement for the merchantability of AmanZoe, a large luxury edifice spot successful Porto Heli, wrong the wider model of practice for the area’s development. According to DCI, Kambouridis’ broadside violated cardinal presumption of this agreement, triggering a bid of conflicts and disputes. Kilada Hills is 1 of the region’s largest concern projects, combining luxury residences and tourism infrastructure. Amid mounting tension, the 2 sides yet acknowledged the request for solution extracurricular the courts, opting for an out-of-court settlement. This allows the project’s improvement to proceed unhindered and enables each enactment to absorption connected its aboriginal concern activities without the load of ongoing litigation.

George S. Livanos, SGL, and the reception

Let maine determination present to a para-shipping taxable with a societal and cosmopolitan aura. So, past Friday—just the time earlier yesterday—the household of George Stavros Livanos of the shipping institution Sun Enterprises attended the lawsuit successful Kardamyla, Chios, celebrating the 100th day of the founding of the Livaneios High School. Its laminitis was Nikolaos Georgiou Livanos, the shipping patriarch of the Livanos family, a legendary fig of Greek shipping. The High School, particularly successful its aboriginal years astatine the opening of the past century, became the cradle that produced susceptible seafarers, immoderate of whom aboriginal became shipowners, the astir notable being Captain Panagiotis Tsakos, who was among its distinguished graduates. On the evening of the aforesaid day, successful the municipality of Chios astatine the Chandris Hotel, the Livanos family, arsenic they bash each year, hosted a meal for their employees, some executives and seafarers. Present were some the patriarch of the family, George Livanos, and his lad Stavros, who wrong the institution is known to everyone by his initials, SGL. Today, Sun Enterprises manages a fleet consisting of 15 tankers and 7 bulk carriers.

60 companies power 80% of the Greek fleet

And since we’re connected the taxable of shipping, I privation to constituent retired that successful the sector, the large ones are becoming giants, portion the tiny and mean players are dilatory fading away. “What, how, why?” you whitethorn ask. Well, I recovered this statistic interesting—it concerns Greek-owned shipping, and I thought I’d laic it connected the acheronian room’s table, truthful you tin work it and get a representation of what lies ahead. The yearly Petrofin survey records a dependable trend: the large groups successful Greek shipping are strengthening their dominance, portion the tiny and mean owners are gradually shrinking. In 2024, the Greek-owned fleet grew successful capableness by 2.9%, reaching 488.6 cardinal DWT and 6,708 ships. However, the fig of companies decreased to 588. The companies with 25+ ships reached 60—a grounds number—collectively controlling astir 80% of the Greek-owned fleet. In contrast, smaller shipowners are nether unit from costs, regulatory requirements, and rising prices successful general. The representation is clear: Greek shipping remains resilient and expanding, but with progressively concentrated powerfulness successful the hands of a fewer beardown players.

Bond issues: Intralot completed, GEK TERNA takes the baton, PPC connected standby

Tomorrow, the Hellenic Capital Market Commission volition o.k. the caller enslaved contented by GEK TERNA (up to €500 million), which volition tally connected the marketplace from September 22 to 25. Immediately afterward, according to reliable information, the caller eurobond of PPC volition follow, expected to motorboat successful aboriginal October. Intralot has completed its ain enslaved process, and present we await the presumption of its large superior increase. The timing is favorable for caller enslaved issues contempt the turmoil successful the European authorities enslaved market. The awesome volition intelligibly travel the time aft time from U.S. Federal Reserve Chairman Powell, whose code volition assistance investors conjecture however galore much involvement complaint cuts successful the dollar they tin expect earlier year-end. Interest complaint announcements are besides expected this week from the cardinal banks of Canada, Norway, the United Kingdom, and Japan. Here successful Europe, things are much complicated. On Friday, Fitch Ratings downgraded France’s recognition standing to A+ from AA-. The output connected the 10-year Greek authorities enslaved is approaching that of the German Bund—it stood astatine 2.713%—a dispersed of conscionable 68.8 ground points. This marks the smallest spread betwixt the Greek 10-year and the Bund since the planetary fiscal situation of 2008. According to a study by Wood & Co, Greece’s debt-to-GDP ratio is steadily and rapidly declining. From 154.1% (2024), their projection points to 101.3% by 2030.

Developments among the “small, clustered” listed companies

In a fewer days, connected September 30, the last deadline expires that the Stock Exchange medication gave to medium- and small-cap listed companies with constricted escaped interval and debased liquidity. They indispensable alteration their shareholder operation and unafraid astatine slightest 2 brokerage firms to presume “special market-making,” meaning to supply continuous liquidity. Information suggests that astatine slightest 1 listed institution is unwilling to marque changes, which means it volition proceed with a nationalist connection that volition pb to its exit from the banal marketplace board. On the different hand, the absorption of Attikes Ekdoseis has already reached agreements with BETA Securities and Depolas Investment Services, portion Daios chose Alpha Finance and Optima Bank. These contracts instrumentality effect today, and much announcements are expected during the week for different listed companies facing “free float” issues.

The 5 stocks that reached caller peaks

The Athens Stock Exchange whitethorn inactive beryllium astir 60 points beneath its yearly highs, but it has returned to grounds territory, arsenic 5 listed companies reached prices not seen successful years—and successful immoderate cases, astir 2 decades. Aktor crossed the milestone of €8, marking the champion show among large-cap stocks successful Friday’s session. In fact, it closed astatine its highest level successful the past 18 years, specifically since November 6, 2007, erstwhile the banal had closed astatine €8.01. Credia Bank logged its 4th consecutive summation and its 3rd consecutive league of beardown returns, climbing to the €1.60 threshold for the archetypal clip since past November’s superior increase. At the aforesaid time, the bank’s marketplace capitalization present exceeds €2.5 billion, ranking it 17th among ASE-listed companies by capitalization. Viohalco is besides connected a grounds trajectory, matching its yearly precocious of €6.77. The adjacent large people is €7, a terms not reached since precocious August 2023. Cenergy Holdings came wrong a enactment of its all-time precocious of €11.3. In fact, during the league it concisely broke that barrier, hitting €11.34 astatine the day’s peak. ElvalHalcor is heading toward €3 for the archetypal clip successful 17 years. After a five-day rally, it has risen from €2.55 to €2.86—a terms past seen successful January 2008.

Trump’s warfare with healthcare stocks

While U.S. automakers—led by Elon Musk’s Tesla—are eagerly awaiting announcements of involvement complaint cuts (as reflected successful the upward question of their shares connected Wall Street), different assemblage of the American system is experiencing large turmoil. Healthcare stocks were deed by reports (with data) that the Trump medication plans to nexus the deaths of 25 children to Covid-19 vaccines. Moderna’s banal fell -7.4% connected Friday, portion Pfizer dropped -3.9%. So acold this year, healthcare stocks person posted the worst show successful the S&P 500 Index. These caller reports are being interpreted arsenic confirmation of the Trump administration’s volition to measurement up its anti-vaccine campaign. Significant terms declines were besides seen successful shares of different vaccine makers, specified arsenic BioNTech and Novavax.