Emanuele Grimaldi, a major owner of car carriers and ro-ro vessels, deplored the rise of protectionism amid rising geopolitical tensions.

“Nothing, unfortunately, is as contagious and as infectious as protectionism,” the managing director of the Grimaldi Group and chairman of the International Shipping Chamber (ICS) told the European Shipping Summit on Wednesday.

In his speech, Grimaldi mentioned protectionism in the same breath as decarbonisation among the biggest challenges facing the shipping industry today.