China doesn’t play dumb – what the Posidonia 2024 maritime exhibition revealed

The Posidonia 2024 maritime exhibition took place in Greec at the beginning of June. Although some time has passed since the event, experts and participants are still sharing their opinions on this year’s edition. And no wonder – it was the largest maritime industry exhibition in Europe’s history.

We were there too. We walked through the entire exhibition hall, visited every pavilion, and spoke with many industry representatives. Now it’s time for our observations!

Every two years

Posidonia gains importance with each edition. The size of the exhibition hall where it’s held is astounding. Yet, this year’s edition could not accommodate all participants, and organizers had to move some exhibitors outside into tents. The scale of the event was impressive.

Around 2,000 exhibitors from around the world presented their products or services. It is estimated that more than 40,000 people participated in the event. Posidonia had never reached such a scale before.

This may be why the organizers don’t attempt to hold Posidonia annually. Since its inception, all 28 editions have been held every two years. Given the size of the fair, this is understandable – preparing such a large event in every detail might even make two years seem insufficient.

Who is on the rise

The exhibition hall was divided into several segments with pathways leading to pavilions. There were many interested attendees around them, occasionally making idt difficult to move through.

The presence of Asian citizens was particularly noticeable, with their numbers far surpassing others. Organizers reported that of all countries participating, China saw the biggest increase in the number of companies attending. After a two-year break, they returned with 180 companies, which marks a nearly 50% increase the previous edition.

This perfectly illustrates who is on the economic rise. After a slight pandemic-induced slowdown, the Chinese economy revived in the last three quarters of 2023. This trend has continued in 2024, as confirmed by the strong presence of Asian representation at events like Posidonia.

China’s economic growth enables them to open up to new markets, especially in Europe. Global trade is also picking up, along with maritime transport and ports. The Chinese, who were among the first to notice this, see great development and profit opportunities in the maritime economy. Posidonia was therefore the ideal place for them to acquire new business partners, which they did – and with notable success.

China leads the way

The significant presence of Chinese representatives at Posidonia is also due to their dominance in the shipbuilding market. Chinese production of components for energy transformation is also growing rapidly. Asian wind farm and photovoltaic components are cheaper than Europeans ones, as are electrolyzers. This is becoming a challenge for Europe, as European offshore wind energy will have to compete with cheaper Chinese products.

Chinese manufacturers are also relocating their production to ASEAN countries, increasing maritime transport and the supply of goods from these countries to Europe, the Americas, and Africa. The growth of Chinese component imports is driving demand for maritime transport, which is evident from the rising container throughput in European ports. Asians also aim to take the lead in this area. The acquisition of a majority stake in the Port of Piraeus by the Chinese maritime giant COSCO confirms this. In the context of Posidonia, located just 10 kilometers from the port, this gave symbolic significance to China’s presence in Europe.

Where does Poland fit in?

Polish companies were not absent at Posidonia. The national pavilion featured Poland’s largest ports, including Gdańsk, Gdynia and Szczecin-Świnoujście, as well as state-owned shipyards and private enterprises. We showed the world that we have great potential and are simply good in this industry.

Additionally, private companies set up individual stands in the exhibition hall, seeing this as an opportunity to establish new contacts and secure business partners from around the world.
Despite being somewhere overshadowed by the overwhelming presence of foreign companies, particularly from China, the Polish stand performed very well. Each presented its best products and services. The Polich Embassy in Greece even organized a special seminar dedicated to the Polish maritime industry.

Whether the efforts and presence of our state-owned companies at Posidonia will yield the desired results remains to be seen over the next two years. By then, the next edition of the exhibition will take place. It also depends on how many foreign entities will trust us and in which direction the broadly understood maritime economy will develop.