27 May 2026
Bilbao
On 27 May, the University of Deusto hosted the 12th edition of its traditional Deusto Maritime Forum, a leading event for the analysis of the maritime sector and international trade. Organised by the Law School — as part of the Master’s in Maritime and Port Business Management and Maritime Law — and the Basque Government, in collaboration with the International Propeller Club of the Basque Country and the Port of Bilbao, the Forum has taken on even greater significance this year, as the conflict in the Strait of Hormuz has placed maritime traffic at the centre of the global strategic debate.
The programme featured a presentation by Édgar Fernández Vidal, an investor and lecturer in finance, who spoke on ‘Capital cycles in the maritime industry’. During his presentation, he warned that the sector is at the end of an expansionary cycle, characterised by an “inevitable cyclical” nature that often leads to bankruptcies every twenty years. As he explained, the inelasticity of supply and the long lead times in shipbuilding result in oversupply, which drives down investment returns. This phenomenon, reinforced by human psychology, which tends to invest in clusters during periods of euphoria, ultimately pushes shipping companies cyclically into the red.
In addition, Joel Grau, CEO of Zostera Marine / NorthStandard and lecturer in Finance at the National Maritime College of Ireland, delivered the lecture "Disrupciones en el comercio internacional y geopolítica de bloques. Desafíos históricos", in which the impact of geopolitical conflicts on maritime transport was analysed, a sector that accounts for 90% of global trade. The speaker highlighted the vulnerability of critical locations such as the Suez and Panama Canals and the Strait of Hormuz in the face of tensions in Ukraine and Iran. This instability, combined with the insecurity in the Horn of Africa, is forcing a paradigm shift towards alternative routes such as the Cape of Good Hope, posing unprecedented logistical challenges for supply chains.
In addition, a roundtable discussion was held on the ‘BBC ONIX case’, a heavy-lift cargo vessel, with the participation of young professionals from the maritime and port sector. They recalled that the BBC Onyx, which had set sail from Gijón carrying a project cargo bound for the United Arab Emirates, was forced to divert to the port of Salalah (Oman) following the closure of the Strait of Hormuz. However, this alternative port also experienced disruptions to its operations due to drone attacks from Iran.
The Forum includes the presentation of the “Basque Country Propeller Club–Port of Bilbao” Award for the best academic record in the 2024–2025 academic year, in recognition of the talent and academic excellence of the younger generation. On this occasion, the award went to Carmen Rubio for a project in which she examined the Odyssey case.
The event was brought to a close by Koldobika Goitia, Director of Coastal Development, Ports and Maritime Affairs at the Basque Government, accompanied by Javier Larena, Director of the Master’s in Maritime and Port Business Management.
