NAFS September 2022

The innovative solution

TURBOMED SA, equipped with the innovative solution of flexible portable dynamic balancing device, -designed in order to respond effectively within an environment of high vibrations such as that of the ship’s engine room- solves a major integrated repair problem, covering the total range of turbocharger’s balancing requirements of main & auxiliary engines.

“A vision of many years is becoming a reality! The Portable Dynamic Balancing device is designed and manufactured exclusively for our company for on-board use and beyond. This way we are able to restitute any damage on board, even in the most remote parts of the planet”, pointed out the President & CEO of TURBOMED SA Mr. Yiannis Paraskevopoulos.

Now, the complete repair and balancing service is performed directly and effi ciently inside the ship, without having to take the rotor off board – a time con suming and costly service. In fact, in cases of remote ports, where there is no infrastructure or specialized workshops suitable for balancing, this exclusive service is a great added value for the ship-owners & charterers as they save valuable time and therefore money.

Starting from the specialized machine shop of TURBOMED SA in Piraeus, this new service of portable dynamic balancing on-board is also available at the company’s services stations in key ports around the world such as Constanta Romania, Lagos Nigeria, Limassol Cyprus, as well as all over Europe, USA, Asia & Africa.

Well trained and experienced engineers are always available to support the overhaul of ship engines turbochargers, transporting the balancing device on their luggage and providing balancing services on ships and power plants all over the world.

Do the results of vibrations on the balancing device get affected by the rest of the vibrations and noise generated by the other machines in the engine room?

No, the device does not get affected by external vibra tions and noises. It is manufactured in such way in order to zero all vibrations & noises coming all sources other than the placed on the device rotor shaft during the balancing. This device is designed and manufactured specifically for TURBOMED SA for on-board use.

Is this a portable device?

Yes, it is portable and flexible, as it can easily get transported in the luggage of specialized technicians of TURBOMED SA. At the same time the balancing report is being issued and remains on-board together with the rest of the service reports.

Are the safety rules met during process?

TURBOMED SA holds all safety protocols and takes all necessary measures, using the most modern and advanced methods, in order to ensure the prevention of accidents and the maximum possible safety of individu als.

Is it an economical solution?

The “Portable Dynamic Balancing” service is the most ad vantageous solution, given the fact that it provides a high degree of immediate efficiency, effectiveness and quality.

A full service package is offered on-board, covering the wide range of maintenance – service – balancing of turbochargers rotor shafts within the ship schedule and without any delay.

For which engines is it suitable?

This device combines excellent flexibility and ergonom ics. It is suitable for all types of main & auxiliary engines, covering a wide range of needs and is able to balance new and used rotor shafts.

Is it possible to cover an emergency need of a damage? Of course, it meets the needs for both scheduled over haul and balancing, as well as an emergency breakdown service anywhere in the world 24/7.

Is it exclusively providing services on-board?

Not only. Shipping, on one hand, occupies the largest percentage of repairs, however this device is equally suitable and ideal for Shipyards where there are no dynamic balancing machines, for Power Plants and Oil & Gas Platforms.

Mr. Yiannis Paraskevopoulos, President & CEO of TURBOMED SA

N. Δούκας | Η Ευρώπη χρειάζεται επειγόντως Plan B.

K. Δούκας | Ὓφεση φοβᾶται ἡ ναυτιλία8

Ted Petropoulos | A review and analysis of global ship finance as of end 2021 and the outlook for 2022

M/T SUVRETTA becomes the first vessel to include hull coating impact in EEXI Technical file approved by DNV

Γ. Πλακιωτάκης: Eπιτυχής ολοκλήρωση της επιθεώρησης της χώρας μας από τον IMO

Aπονομή υποτροφιών της Ένωσης Ελλήνων Εφοπλιστών και της ΣΥΝΕΝΩΣΙΣ

Members’ Day Meeting του Propeller Club Πειραιά

1ο Event Sustainability Report των Ποσειδωνίων

Το Πάνθεον της Ελληνικής Ναυτιλίας αποκαλύπτει τους Εισακτέους του 2021

Στον RINA και στην Αsprofos ανατέθηκε η σύμβαση για το FSRU στην Αλεξανδρούπολη

Ετήσια συνδρομή εσωτερικού 50 ευρώ. Ετήσια συνδρομή εξωτερικού USD 70. NAFS, ISSN 1107-3179. Απαγορεύεται η αναδημοσίευση, η αναπαραγωγή, ολική, μερική ή περιληπτική,

A review and analysis of global ship finance as of end 2021 and the outlook for 2022

By Ted Petropoulos, Head, Petrofin Research©

As 2021 developed and Covid-19 restrictions waned, the global economy’s GDP recovered from -3.1% to +5.9% yoy, seaborne trade from -3.5% to +4% yoy, whilst fleet growth was limited to a 2.9% increase. The above turnaround was assisted by continuing central banks’ monetary easing, low interest rates and a resurgence of demand for goods and commodities leading to increased congestion and fleet inefficiency.

As a result of these developments, charter rates across most sectors (except for tankers) shot up by 50% for LNGs, up to 185% for dry bulk and multifold for Containers (Clarkson’s statistics). Vessel values followed suit, whilst scrapping decelerated. All in all, a remarkable turnaround.

Banks, under the above favourable conditions and prospects, faced increased demand for loans, as well as competition from other non-banking lenders.

Global bank lending showed growth. Based on the latest Petrofin Research ©, Graph 1 ranks the Top 40 ship financing banks’ portfolios, which collectively as of end 2021 year end stood at US$290.12bn, i.e. an increase of 1.12% yoy. This growth may appear small but it does represent the first rise since 2011.

Petrofin Research © www.petrofin.gr

GRAPH 1

NAFS | September 2022

New bank lending was robust in 2021, especially towards the second half of the year. However, it should be noted that the newbuilding order book, which stood at 200m tons DWT at the end of 2020, fell to 177m tons at the end of 2021, but rose to 219m tons on 30/06/2022 (Clarkson’s).

The Petrofin Global Index (Graph 2) shows the development of ship finance against the growth of the global fleet from 2008 to 2021.

The long decline in ship finance loans was mainly due to the departure of many large ship finance European names over the period. This withdrawal process seems to have run its course. 2021 bank lending marks a well awaited recovery. However, comparing to the growth of the global fleet, it is self-evident that such growth was not financed by banks but by non-banking relevant sources of finance including fleet cash flows and owners’ liquidity.

Petrofin Research © www.petrofin.gr 2022 2

BNP Paribas remains the leader even though its total reduced primarily, as we understand, due to reclassification reasons.

Within the Top 40, 21 banks are European based, 16 Asian/Australia based, and 3 North American based. European banks still hold the lion’s share at US$157.22bn

Relative newcomers / small banks such as Bank of Cyprus, Hellenic, Pareto, M&M bank, etc. grew during 2021 and provided plurality to the available sources of bank finance. It is envisaged that total shipping related bank loans for all banks, including numerous domestic banks across the globe, which are outside the scope of this research, as of the end of 2021 is estimated at approximately US$340bn. An estimate of global ship finance exposure would include all forms of direct or indirect finance. Such an exercise needs to be ap proached with caution as there is a scarcity of information, especially from Asian leasing companies and banks, as well as for lending Funds on a bilateral basis. As an indication only, however, according to Petrofin Research ©, the total global ship finance exposure including leasing and all other forms of finance at the end of 2021 amounted to approximately US$500bn, by which total global bank loans accounted for approximately 2/3 of the total.

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14 Financial focus

Prospects for ship finance for 2022

The global situation changed abruptly with the Russian invasion of Ukraine on 24th February 2022. It led to geopolitical sanctions, high energy and commodity prices, a dislocation of trade, higher inflation and interest rates, a slowdown of global growth and a decelerating demand for shipping. China experienced near zero growth as a result of its pandemic related selective lockdowns. Chinese loan demand remains low despite record state spending and incentives aimed mainly at supporting Chinese infrastructure and the real estate industry.

With the Chinese slowdown, port congestion fell releasing tonnage in the dry bulk market. The above resulted in a much weaker dry bulk market. Tankers, however, benefited enormously in the post invasion rush to meet demand primarily in Europe. Sale and purchase activity too has halved in the first six months of 2022 in comparison to 2021 across all sectors and the increase of newbuilding orders for 2024 / 2025 has not yet affected bank lend ing. The higher interest rates have adversely affected cash flows and have resulted in higher loan breakevens.

At the time of writing, banks are still keen on new business to maintain their lending portfolios but viable new loan generation is reducing. Bank loan margins are being squeezed as owners have access to alternative sources of finance and often opt for higher

leverage as opposed to lower margins. A bright development has been the increased popularity of sustain ability linked loans provided by the participating banks and lenders in the Poseidon Principles. As more shipping companies develop their approach to meeting and exceeding the emission criteria, as well as investing in dual fuel and other innovatively designed vessels, banks have targeted such loans and provided some incen tives to owners in terms of pricing. In themselves, the incentives are not significant in swaying owners towards green technology. They do provide an incentive / reward, though, and as such they are welcome.

Banks are on the side lines re new technology in respect of the more strict post 2030 regulations. They are waiting to see the new technology, cost implications, as well as the support to be provid ed by the market towards such vessels. For the time being, the emphasis of both owners and banks lie with Tier III newbuildings which seem to represent an intermediate choice compared to more advanced technologies.

The outlook for shipping and ship finance for the next couple of years lies in whether the recent geopolitical events represent a transient or permanent change.

Vassilios Demetriades

Shipping Deputy Minister to the President, Republic of Cyprus

Stronger Shipping Stronger Cyprus!

The “Maritime Cyprus” Conference is organised every two years by the Shipping Deputy Ministry in cooperation with the Cyprus Shipping Cham ber and the Cyprus Union of Shipowners. It was first established in 1989 and since then, has grown into one of the world’s most significant and most attended shipping conferences. Its status now gives it a prominent position in the calendar of many shipping executives, including owners and managers as well as those in charge of organisations with shipping related activities. The “Maritime Cyprus” Conference attracts to Cyprus approximately 800 shipping executives from around the globe.

Distinguished guests and world class experts analyze and discuss spe cialised issues of concern to the shipping industry.

The main aim of the conference is to operate as a forum where import ant and current issues relating to international shipping are presented by distinguished speakers and subsequently discussed by the interna tional shipping community, thereby helping to formulate sound and well balanced decisions and policies on crucial shipping issues. “Maritime Cyprus” Conference also offers the opportunity to the participants to become familiar with the strong maritime tradition of Cyprus, its people and its environment. Its complete shipping infrastructure constitutes an invaluable asset, both for the expanded Europe and for the international shipping community in general.

The next “Maritime Cyprus” Conference is scheduled to take place in Limassol between 9 and 12 October 2022 with physical presence. The Maritime Cyprus Conference is an established biennial event organised by the Shipping Deputy Ministry in cooperation with the Cyprus Shipping Chamber and the Cyprus Union of Shipowners and has grown into one of the world’s most significant shipping conferences since it was first organized back in 1989.

The Conference brings together more than 1000 participants, including shipowners, shipping executives, regulators and state officials from all over the world, including high-calibre speakers. Maritime Cyprus provides the opportunity to the participants to become familiar with the strong maritime tradition of Cyprus and the buzzing maritime cluster in cosmo politan Limassol. Our endeavour is for Cyprus to maintain and enhance its role as an advanced, proactive, competitive maritime nation with a positive contribution both in Europe and internationally.

Here follows an interesting interview with Mr. Vassilios Demetriades, Shipping Deputy Minister to the President, Republic of Cyprus...

“

The Shipping Deputy Ministry has worked hard to cement our reputation as a well-established and quality registry, committed to safety, security and excellence. We have made significant progress since our inception but remain focused on looking ahead. We want to progress the Cyprus flag while at the same time supporting development of the European maritime industry by advancing new green technologies, creating opportunities for jobs and growth, and providing a first-mover advantage to the EU shipping industry. We have ambitious plans outlined in our latest strategy, “SEAChange2030”, and look forward to continuing and building upon the progress that has been achieved over the last four years”.

Mr. Vassilios Demetriades, Shipping Deputy Minister to the President, Republic of Cyprus

What benefits did you get from your trip to the Land of the Rising Sun and in what ways do you expect the relations between the two countries to be strengthened as well as ways of further coopera tion?

Japan is one of the world’s leading maritime nations with a long standing history and tradition. With its strong and dynamic role in shipping, and reputation for environmental leadership, the Japanese market is an important ally and partner for any maritime nation. Cyprus has a competitive and sovereign international open Registry and the Cyprus flag enjoys international recognition as a flag of quality and reliability. As a member of the European Union, Cyprus is well placed to serve as a bridge between Japanese customers and investors and the European markets, and constitutes an ideal place for doing business. There is a strong potential to further explore our maritime relations with Japan and towards this direction we will soon open a maritime office in Tokyo.

What is your arsenal of incentives today, what is your national strategy and vision for a clear orientation towards the green and digital transition and how will Cypriot shipping take a leading role in international shipping events?

To support shipowners and create valuable policies, Cyprus is tak ing a proactive approach to helping the shipping industry navigate decarbonization by creating new policies and initiatives that incen tivize shipowners and operators. For example, in the framework of its national long-term strategy for shipping, “SEAchange 2030”, there is a range of green incentives to reward vessels that demon strate effective emissions reductions beyond the agreed global levels. In addition, annual tonnage tax is reduced by up to 30% for each vessel that demonstrates proactive measures to reduce its environmental footprint. We are also encouraging and facilitating shipowners flying the Cyprus flag to take proactive action by con ducting trials using alternative fuels such as Biofuels and Hydrogen and we are working closely with the Research and Innovation Foun dation to provide funding tools and programs encouraging research and innovation for cleaner shipping through the establishment of a “Research Innovation Shipping Environment” (RISE).

The Shipping Deputy Ministry strongly supports synergies with the shipping industry, universities and research institutions to seek solutions for the green transformation of the sector. Examples such as the Cyprus Marine and Maritime Institute (CMMI) promote technological innovation bringing together the academic world with the public and private sector to jointly develop innovative systems providing solutions to effectively response to the green and digital transformation of the sector.

Cyprus SDM continues to be actively involved in addressing and shaping industry issues, challenges and regulation on an interna tional level. This is particularly evident with our ongoing engage ment with international shipping organizations and committees, tripartite and bilateral meetings with a large number of shipping nations. We are at the forefront of supporting progress in this rapid ly evolving industry.

How does the Cypriot government and the Ministry of Shipping help young people to discover their passions and encourage them to utilize their skills and knowledge in order to have a successful career in the maritime sector?

For many years we have remained committed to incentivizing the choice of “blue careers”. Through continuous supervision of the marine academies and maritime training providers in Cyprus and Greece, cooperation with academies to improve and expand their offering, granting scholarships to marine academy students, and subsidies to marine cadets for on-board training, we are doing all we can to bring the next generation into the shipping industry and its related sectors. We’re even making regular visits to schools all over Cyprus to ensure that even the youngest children understand the exciting opportunities available to them. We have launched an interactive online campaign “SEA…your Horizon” addressed to the secondary school children and during the last two years we have organized with great success the “THALASSA”, a two-day event where all organizations associated with shipping and blue econo

my present their activities to the civil society in order to promote a shipping and maritime culture among the young generation. We fully recognize that commitment to the next generation is central to nurturing the leaders of tomorrow.

At “Maritime Cyprus 2022” Conference, Cyprus will host a session specifically addressed to young shipping executives of the industry. This forum will create a platform for young people to discuss their vision of the industry, prospects and challenges that stimulate and affect them.

A short time ago, the 20th anniversary of the creation of the Euro pean Maritime Safety Agency (EMSA) was celebrated. It is known that Cyprus has an important contribution to this structure as there are Cypriot members on the Board of the Organization with influence and important executives of the Organization come from the bowels of the Cypriot Shipping. Participating in a round table discussion during the celebration, you discussed, among other things, the future of global and European shipping. Would you like to tell us a few things about it?

The European Maritime Safety Agency is one of the European Union’s (EU) agencies, founded in 2002. Based in Lisbon, the Agen cy’s mission is to ensure a high level of maritime safety, maritime security, prevention of and response to pollution from ships, as well as response to marine pollution. The overall purpose is to promote a safe, clean and economically viable maritime sector in the EU.

Cyprus has worked closely with EMSA since it was founded, as well as working with the EU and IMO on regional and global issues. Working with regional and international organizations is essential as it is constructive, collaborative, and means the parties are ready to contribute to the sustainable future of the sector. We need to lead by example, but also be ready to listen, identify the needs of other regions, and provide assistance where needed. EMSA plays a key role in transforming shipping and in promoting higher maritime safety standards by utilizing its richness of exper tise, through training and capacity building, beyond the EU boundar ies. We are pleased to be part of this journey.

In what ways did you support your shipping during the two major crises (pandemic and Ukrainian)?

Following the rise of the COVID-19 pandemic, Cyprus was one of the first countries worldwide that recognized seafarers as key work ers. Cyprus implemented a formal crew change process, assisting with the repatriation of thousands of seafarers. The SDM also formulated and proposed a practical, global approach to delivering COVID-19 vaccinations to seafarers, which was then adopted by the International Labour Organization (ILO). Further recognizing the urgency of seafarer vaccination, and the role this would play in easing the crew change crisis, Cyprus then committed to vaccinat ing all crew onboard Cyprus-flagged and managed vessels with the adoption of a national vaccination plan to provide protection to over 40,000 seafarers. Cyprus remains at the forefront of finding practical global measures to support seafarers. In response to the conflict between Russia and Ukraine, Cyprus facilitated the opening of bank accounts for both Ukrainian and Russian seafarers to en able them, and their families, to easily access their wages. We also believed that shipowners and crew managers required an effective solution from flag states to a challenge that many were facing.

Sea Passenger Connection Cyprus-Greece. A vision that came true. What are your impressions of this first season of operation of the line and what do you plan to do in the future to strengthen it?

Cyprus is a significant maritime nation with strong European links and is always looking for positive and proactive collaboration opportunities that benefit the shipping community and beyond. This project is mainly about providing alternative connectivity to our citizens. We also believe that reviving the ferry connection will help in promoting maritime tourism and to continue building a stronger relationship with the rest of the Mediterranean. Cyprus welcomes the potential to expand the ferry link to a third neighboring country beyond Greece too. This is already in discussion, and will contin ue to be explored. At the same time, our aim is to evaluate the

feedback received from our citizens in order to further improve the quality of the service provided by the ferry.

On May 18 we celebrated the International Maritime Women’s Day which was established by a recent decision of the International Maritime Organization. Cyprus recognizes that women have both a role and a say in shipping events and today introduces a new term in international shipping terminology #WOMANNING #SHIPPING! Tell us about this terminology and tell us how you think the pres ence of Women in Shipping should be strengthened?

Cyprus recognises that women have an important role in all ship ping matters, and it is essential that the shipping industry needs to be diverse, equitable and inclusive to thrive, particularly when considering the challenges faced by the industry today will take new ideas, dedication and strong partnerships to achieve net zero shipping.

Cyprus has introduced a new term in the international shipping terminology “WOMANNING SHIPPING” which acknowledges the important role of women in shipping highlighting the need for gender equality while promoting shipping and the blue economy as a choice of studies and professional orientation, inviting women to explore the sector’s enormous potential. All sectors within shipping need to welcome and actively encourage diversity and inclusion.

You have stated that “the success story of Cyprus Shipping is due to the good cooperation of the public and private sectors... the recipes when they are tried and successful do not change”! Would you like to elaborate on this statement?

Cyprus believes in collaboration across the entire industry. Regulators and industry should work together in order to meet effectively the global shipping challenges whilst maintaining the sector’s competitiveness ensuring a safer, greener and more sus tainable future for shipping. When it comes to Cyprus government this is clearly demonstrated through the promotion of an extrovert ed approach in our working practices. In fact, “extrovert’ is one of the three strategic pillars of our strategic vision “SEA change 2030”. It is all about being good listeners, collecting industry intelligence, seeking consultation with individuals and the shipping industry leading to informed decision making whilst ensuring that our legal framework, policies, incentives and national positions are “fit for purpose” and reflect the challenges, the specificities and the reali ties of the shipping world.

Cyprus takes the lead in strengthening the levels of maritime safety and protection of the marine environment in the Mediter ranean through initiatives that will form a harmonized and unified framework for control and inspections of ships with a proposal to draw up a Memorandum of Cooperation. What exactly does this memorandum of cooperation provides?

It is not about a new Memorandum of Cooperation. It is about Cyprus initiative to invite all EU Mediterranean States to join the Med Memorandum of Understanding on Port State Control in order to assist in raising the maritime safety standards, harmonize further the carrying out of port State control inspections between the EU and non-EU members and thereby improve maritime safety and environmental protection in the Mediterranean Sea basin. It is worth noting that the Mediterranean Sea is a semi-enclosed sea and we should strengthen port state control, being the first line of defense, in order to limit the use of the Mediterranean by ships that are dangerous to human life or the environment. Our initiative which aims to bring together all Mediterranean states is warmly welcomed by the European Commission and EMSA and I hope that all EU Med states (notably Spain, France, Italy, Greece, Croatia and Slovenia) will respond positively to our initiative to join the Med MoU, together with Cyprus and Malta and the other 8 non-EU Med states, in order to further enhance maritime safety and environmental protection in the Mediterranean Sea.

Four Years Deputy Ministry of Shipping! With firm-targeted steps of development of the sector aimed at serving the pur pose...”Stronger Shipping - Stronger Cyprus!” What are the mile

stones, achievements, actions and targets?

Since its inception in 2018, the Cyprus flag has seen significant growth and it is testament to the hard work of the entire team which has made progressive and sustainable changes in its operations and policies to benefit the entire shipping community.

Over the last few years in particular, Cyprus has focused on incen tivizing sustainable shipping with new programs and initiatives designed to benefit the environment and shipowners. The tonnage tax system was renewed in 2019, following the approval by the EU, and is prolonged until 2029, increasing Cyprus shipping credibility, ensuring stability to the shipping community. It has been a popular benefit to the shipping community. Demonstrating this value is clear, as the number of shipping companies registered under this regime has increased by 63%, to 282, since 2018. Cyprus continues to develop new and progressive programs to support the maritime sector.

The Shipping Deputy Ministry has worked hard to cement our reputation as a well-established and quality registry, committed to safety, security and excellence. Testament to this is the flag’s com mitment to reducing GHG emissions. For example, annual tonnage tax is now reduced by up to 30% for each vessel that demonstrates proactive measures to reduce its environmental impact, ensuring shipowners are rewarded for sustainable shipping efforts. We are building a pathway to achieve and exceed the IMO 2030 and 2050 targets, and we hope our initiatives form a strong foundation from which others can build.

We have made significant progress since our inception but remain focused on looking ahead. We want to progress the Cyprus flag while at the same time supporting development of the European maritime industry by advancing new green technologies, creating opportunities for jobs and growth, and providing a first-mover ad vantage to the EU shipping industry. We have ambitious plans out lined in our latest strategy, “SEAChange2030”, and look forward to continuing and building upon the progress that has been achieved over the last four years.

We have also made considerable progress in setting the condi tions to establish “one-stop-shipping-shop” framework to meet the requests of the shipping industry. Towards this direction, we are working on a dedicated project funded by European Union Recovery and Resilience Facility Program to digitalize all services provided by the Cyprus Maritime Administration creating a paperless envi ronment and the framework conditions necessary to support the integration of all our business units which will further increase our efficiency and quality of service. The transformation is underway and is expected to be fully implemented by early 2024 and we look forward seeing the progress we can make in the short term.

Another important milestone that will add value to the “one-stopshipping-shop” concept is the formulation of a regulatory and ad ministrative framework for the incorporation of Shipping Company where shipping entities will have the opportunity not only to be taxed but also to register under the umbrella of the Shipping Deputy Ministry. It is a pleasure to be part of this progressive and proac tive flag. Together we will continue our journey towards a more sustainable, adaptable and extrovert future for Cyprus and the wider shipping community in Europe and beyond.

The Shipping Deputy Ministry is also responsible for the coordina tion of the integrated maritime policy of Cyprus. In our effort to maximize the growth potential of our seas in a sustainable way we are formulating Cyprus’ Maritime Spatial Plan – a key cross-cutting tool of our National Integrated Maritime Policy promoting a holistic approach of the Blue Economy Sectors.

The Maritime Spatial Plan (MSP) is the process by which a country analyses and organizes human activities in its marine areas to achieve ecological, economic and social objectives. It is a valuable instrument for sustainable development of marine areas and coast al regions and contributes to the objectives of an ecosystem-based management approach. MSP covers the whole sea area of Cyprus (territorial sea and Exclusive Economic Zone). It is anticipated that Cyprus’s maritime spatial plan will be ready towards the end of this year. We look forward to sharing our achievements in the years to come. Maritime Cyprus

INTELLIGENT TANK MANAGEMENT

22 Maritime Cyprus

Adonis Pavlides

Embassy of the Republic of Cyprus in Athens: The role of the Piraeus Maritime Office

Services provided by the Piraeus Maritime Office

The office provides a wide range of services, including among others, ship registration and related transactions, issuance of ship’s certificates and legalization of official log books and ship’s articles. Shipping compa nies can carry out the registration of their vessels and all other relevant transactions in Piraeus, accelerating the process by collecting all the necessary documents from our office.

Moreover, the office deals with the process of seafarers’ documentation and certifica tion by administering the necessary exams, and is also responsible for conducting inspections of Cyprus flagged ships in Greece. Having established an efficient way of communication and collaboration with the shipping companies based in Greece, we are able to respond effectively and support the smooth and safe operation of our ships. In this regard, we have successfully dealt with the requests of shipping companies in relation to the difficulties encountered due to the pandemic, in particular concerning crew changes, and the mandatory ship inspections.

Recognizing the importance of promoting a continuous, interactive and systematic col laboration with the local shipping industry, the Piraeus Maritime Office organise on a regular basis, meetings with stakeholders, presenting and discussing the current devel opments and future challenges in shipping. We firmly believe that is of paramount im portance to exchange views and ideas with the shipping industry stakeholders, in order to formulate pragmatic and sustainable pol icies, in particular in the field of environment protection, taking into account the actions that are taken towards the decarbonization of the maritime sector.

Why the Cyprus Flag Cyprus has over the years developed a reputation as a quality, modern and efficient flag providing high level services and a competitive business and taxation environ ment, whilst ensuring the highest possible

The Piraeus Maritime Office was established in 1975. It is the largest, in terms of number of personnel, overseas office maintained by the Shipping Deputy Ministry and it is administratively part of the Embassy of the Republic of Cyprus in Ath ens. The mission of the office is to support the shipping community operating ships under the Cyprus flag, in technical and oper ational matters, in order to improve the effi ciency and quality of the services rendered by the Shipping Deputy Ministry. Within 2023 we anticipate to move to our new premises, also located in Piraeus, upgrading our pres ence in Greece.

standards in safety, security and environ mental protection. In this context, the 24/7 service, provided also through the Piraeus Maritime Office, is highly appreciated by the Greek shipping community. Moreover, being a sovereign flag, member of the European Union, provides political security, while Cyprus’s primary concern through the active participation in the international and region al shipping fora, is to safeguard and further develop shipping as a safe and sustainable industry. As we are in the process to digital ise all services, we will soon be in a position to further increase our efficiency, without losing the human touch. An important ac tion taken by the Shipping Deputy Ministry, which received also positive feedback from the shipping community, is the abolishment of the registration and other fees, support ing our goal to establish a competitive sovereign registry.

Furthermore, the Strategic Vision for Cyprus Shipping, the ‘SEA CHANGE 2030’ has cre ated the conditions for a more sustainable and competitive Cyprus Shipping. Through the actions and initiatives accompanied the Strategy, new efficient and effective services and tools will be provided. First of all, we will digitalize all services provided by the Mari time Administration, promoting a paperless environment and create the framework con ditions to support the concept of one-stop shop. In this context and in addition to the ‘traditional’ 24/7 service we will set up and maintain an e-Helpdesk acting as a single point of contact to respond to all issues via an online application with live chat support, while a user-friendly e-Maritime Library will be established to host the maritime related legislation, information, notices and guidance.

Furthermore, we will establish an e-Inte grated Management of Seafarers System (e-IMoSS) accessible to master of ships, shipowners and ship managers to provide a comprehensive system and database deal ing with all issues pertaining to seafarers, and facilitate the creation of crew lists, the employment and crew changes thus reduc ing administrative burden aiming to replace the need for Ship’s Articles.

Mr. Adonis Pavlides, Counsellor (Maritime Affairs), Marine Surveyor A’ Maritime Office, Embassy of the Republic of Cyprus in Athens

Philippos Philis

“Shipping Response to the 3“C”s Crises – Challenges – Competitiveness”

The Shipping Industry is a solution-driven Industry and has been ever since people have used sea freight transportation of car go across the world. The reason behind the sector’s business mentality is Shipping’s in dispensable role in the prosperity and growth of individuals, other sectors of the economy, and countries in general. This value has also made Shipping strong-willed and more resilient to crises and challenges, as proved by the recent examples of the Covid-19 Pandemic crisis and the implications facing the war in Ukraine. The Shipping Industry has stepped up on both occasions with a proac tive approach to safeguard the World Trade and Seafarers, ensuring minimum disruption of the supply chains, especially regarding the uninterrupted flow of food and medical supplies.

The Covid-19 Pandemic initiated a series of emergency actions, measures, and strategic initiatives as a response to severe disruption of operations, crew change crisis, closure of ports, and increase in freight rates. How ever, State and EU concrete supports are essential to overcome the difficulties that maritime transport continues to face as a result of both crises, especially with regard to crew changes and the complexities of the war in Ukraine.

Overall, the EU will need to assess the total impact of these crises on Europe’s economy, with particular focus on the key role of the Shipping Industry in the EU’s strategic autonomy and establish a solid plan to support companies based in the EU and that are exposed to international competition such as Shipping.

The Shipping Industry and the wider maritime sector continue also important efforts to transition to a Greener Industry by having an active role in the world’s sustainable development, in addition to its contribution to economic growth and prosperity. The way forward is through a well-coordinated approach and cooperation of all involved stakeholders and sectors of the Shipping Industry.

Although European shipowners have stated their preference for an international solution, they remain committed to working with the European regulators and making constructive proposals that will lead to a realistic and pragmatic formulation of proposals for the industry’s decarbonisation. A first optimistic step was the recent positions adopted by the Environment Committee (ENVI) of the European Parliament, on the revision of the EU Emissions Trading System (EU ETS) under the “Fit for 55” legislative package and especially the role of the commercial operator and the creation of a Shipping sector dedicated fund. The proper implementation of the ‘polluter pays’ principle in the EU ETS and as such, the entity that is responsible for the choice of fuel, route, cargo, and speed of the ship should pay for the ETS costs, is the only way, under the EU ETS, to address the right entity and to incentivise the uptake of further

operational efficiency measures and cleaner

The EU Taxonomy initiative comes to add to this effort and as such, we believe it is important that Shipping is included in order to be eligible for EU Green financing opportunities. However, any taxonomy which facilitates the transition to a greener and more sustainable economy should be easy to implement and be based on knowledge, experience, and expertise of the sector, as well as, on scientific and objective criteria. It is vital that the criteria (i.e. approaches and thresholds) for the Shipping sector be developed in a manner that will facilitate the ability of finance providers to assess whether borrowers/relevant projects comply with such criteria. In this regard, it is also im portant that the technical screening criteria are not in conflict with existing IMO and EU legislation. At the same time, however, it is also essential that the criteria ensure that transition measures towards a greener econ omy are also acknowledged and accepted. Cyprus, due to its wide membership and active participation in various regional and international Shipowners associations and organisations, such as the International Chamber of Shipping (ICS) and the European Community Shipowners’ Associations (ECSA), is able to follow and contribute substantially to discussions held at a high level, on a number of critical environmental regulatory issues that will have a profound impact on the future structure of the glob al Shipping Industry.

On a local level, Cyprus shipowners also advocate, through the Cyprus Shipping Chamber’s lobbying efforts, for the establishment of a specialised Financing Institution for the Shipping and Transport Sector, by the Cyprus Government through funding from regional and international financial institutions, which will focus exclusively on providing competitive finance for the purchase of ships or other forms of transport, thus, supporting the resident Industry’s “Green” Transformation efforts.

The Shipping sector is gradually entering a “new era” and progress is impossible without change. The fields of digitalisation and de carbonisation are interconnected in this process and must achieve a complex coupling. The digital and ecological transitions must go hand in hand with the digital and greener transition of Shipping. The level of readiness to adapt to these changes will give a competitive advantage to Shipping and stimulate dialogue among key stake holders to move this essential agenda forward and accelerate the smooth and safe digital transformation of Shipping. It is vital though to maintain its competitiveness, economic value, and leading position globally. Cyprus

Philippos Philis, Chairman & CEO Lemissoler Navigation, President, European Community Shipowners’ Associations

Themis Papadopoulos Collaborating Towards Greener Shipping

The green transformation of the maritime sector is a top priority for Cyprus shipping but also a race against time, to find alter native fuels and energy sources. Although shipping remains one of the most carbon-ef ficient modes of commercial transport, it re spects the important environmental targets set internationally and regionally and most importantly the urgency to safeguard our marine environment. Nevertheless, there are serious issues that hinder the decarbonisa tion efforts of the shipping industry, as the targets are approaching fast.

Shipping as a purely globalised industry, must be regulated globally by the Inter national Maritime Organisation (IMO). European ship owners however, also have to deal with EU legislation, that introduces regional requirements and creates addition al operational problems and competition issues with shipowners outside Europe. It is therefore necessary to adopt realistic and feasible measures that will be effective and will enable progress in achieving the levels of ambition established in the original strategy of the IMO for zero emissions from ships.

Themis Papadopoulos, President, Cyprus Shipping Chamber

A way forward for the shipping industry, focusing on marine tech nology research and innovation, is expected to address the knowl edge gap and global challenges, such as those related to climate change and sustainable development, including carbon footprint reduction that will improve energy efficiency. It is very clear that investing more in the fields of research, technology and innovation is an essential move for shipping to keep up with an increasingly competitive and changing environment. Intelligent digital solutions and the development of alternative fuels are necessary elements of shipping’s green transition process.

The development of new technologies, through increased auto mation and digitalisation, by obtaining and utilising shipping big data from ship operations, will transform the industry and improve business processes. These new technologies can create opportu nities like increased efficiency, safety in shipping operations, future improvement in ship design and increased environmental perfor mance.

The above complexities involving shipping’s successful and safe

transition to a “greener era” calls for a mixture of synergies among the public and private sector, academia and call for private and public funding, in order to facilitate investment in developing the required green shipping technologies.

Shipping’s green transition also requires a unified industry “voice” and close collab oration across and beyond the maritime industry, between ship owners and opera tors, as well as shipping stakeholders such as fuel producers, engine manufacturers, shipyards and port operators, to meet the new regulations and improve operating efficiencies. The recent pandemic brought a sense of togetherness and a closer col lective effort to overcome major difficulties. Working collaboratively, sharing knowledge, experiences and most importantly sharing a common vision on how we can safeguard a sustainable future for shipping during its green transition, is of utmost importance.

Appreciating the ongoing international efforts and negotiations at the IMO and on a regional level at EU towards the sector’s decar bonisation, the Cyprus Shipping Chamber looks forward to working with the Cyprus Maritime Administration, who sit on the Council of the IMO, the European Parliament, the European Commission and other stakeholders in order to address the challenges and contrib ute to the decision-making process.

As from January 2022 and for the first time in the history of Cyprus shipping the Chamber, through the election of its representatives and as President of the European Community Shipowners’ Associ ations (ECSA) and Vice President of the International Chamber of Shipping (ICS), has an even stronger voice and involvement in the formulation of shipping policies on a European and international level respectively, on important environmental issues, proving Cyprus shipping’s priority to contribute to the protection of our environment.

Our aim remains for a sustainable and environmentally friendly shipping sector by developing rules that are not only environmental ly ambitious in theory but also workable in practice and compatible with our industry’s composite and international characteristics. Maritime Cyprus

Despina Panayiotou Theodosiou

Towards zero emissions in shipping: What is the tipping point?

Global politics and economics have always had a substantial influence on shipping. As an industry, shipping is connected through various channels to many other sectors, connecting all geographies.

This global connectivity is simultaneously a benefit and a challenge. Regional conflicts, political upheaval and even internal (nation al) political shifts can, and are, influencing national green policies and, therefore, the environmental ambitions of countries.

In many countries, fuel prices, living costs, inflation and interest rates are on the rise. This causes unrest and increased national anxieties that could become greater than environmental worries and aspirations. Shipping’s decarbonisation goals are am bitious and will rely on a significant shift in technology use in the next 10 to 30 years. Owners and operators of existing ships know they must meet the CII and EEXI require ments. While these may be tough, critics from some environmental groups believe they will have little impact on ship emissions.

Despina Panayiotou Theodosiou, Co CEO of Tototheo Maritime, President, WISTA INTERNATIONAL

If a political will is lacking, regional and international policies risk being weak and unenforced. The tipping point towards zero emissions will need to come from the other two influences on shipping; economics and social pressure.

The decarbonisation of shipping relies on an increase in new fuel use, fuels that are cur rently both more expensive and less energy dense than current fuel oils.

The tipping point here would come when clean energy production is de-coupled from hydrocarbon pricing or when policies, such as those from the EU, can push green elec tricity production prices down to enhance the cost efficiencies of electro-fuels.

Should global regulation development slow down, we must ensure the other two influ ences can work more effectively. We know from the circa 2011 increase in bunker prices that shipping took more interest in fuel effi ciencies, and we saw how interest grew in digital technologies and engineering advancements.

The long-term solution is a shift to new fuels, new energy sources that are either net zero or absolute zero. This long-term drive will essentially require investment in new tonnage capable of using those fuels.

Shipping’s ambition, through the IMO, is based on reducing its emis sions in alignment with the promises of the Paris Agreement, an agreement that few countries are living up to with their own national promises, and which could become less critical as global security and cost of living concerns escalate.

The tipping point (technology competitiveness, economics, and social pressure)

Because international events influence shipping closely, a tipping point toward zero-emission shipping is likely to be coupled with a global tipping point. The risk is that our goals become harder to reach if politics and policy are the two motivations to achieve that change of balance.

Now we have the potential to generate cheaper green fuels and use societal pressure, through pressure from shippers, manufacturers, and consumers, to enhance this transformation.

Shipping will not see regulation removed. We will not see the EEDI, EEXI; SEEMP and CII rescinded, nor will the sulphur in fuel require ments change. We will see a market-based measure become a reality, even if regional efforts such as the European ETS become the primary developments.

But as geopolitical turmoil rumbles around shipping, we need to maintain the momentum. Shipping will reach this tipping point; the question is when, not if. But to achieve this, we need yards to see current alternative fuelled designs as a typical design, for digital performance tools to be standard, and for fuel supply to not fall into the chicken-and-egg supply/demand quandary LNG went through. We need the first movers to be able to test the waters without too much policy risk and for pricing to be attractive.

PIONEERING THE SAFETY AND PERFORMANCE OF THE FUELS OF THE FUTURE

When considering crises, we must recall the pandemic which sadly is not a thing of the past and has become an ongoing reality that will continue to impact global trade. It is understood and accepted that the maritime industry played a critical role during the crisis, maintaining trade flows thanks to the sacrifices of the world’s seafarers and the commitment of vessel operators and manag ers to keep cargo moving.

Of course crises also present opportunities and ABS was able to continue its adoption of digital tools to ensure that safety stan dards were maintained at a time when ship and port visits were highly restricted. Our industry-leading remote survey program made it possible for surveyors to be ‘virtually’ onboard for inspection of key systems and equipment when quarantine protocols made in-person attendance difficult.

ABS has continued to build on this approach with our condition based approach to ‘Digital Class’ which will leverage the investment the industry is already making in digitalization, to improve safety. This will advance safety in our industry by understanding the condition of the ship by digital means, rather than always relying on a calendar to tell us when to attend a vessel. Utilizing readily available data streams, such as weather and wave buoy data, and combining this information with vessel speed and heading data, we can already today analyze real-time loads and their impact on the remaining fatigue life and overall strength of the vessel. We can combine these data threads and plug them into our enterprise resource management platform ABS My Freedom and achieve our vision of predicting safety performance.

In terms of challenges, there is no doubt that decarbonization is shipping’s challenge of the century; one that requires the industry to remake its models and re-engineer its processes and mindsets. The scale of the change necessary requires us to treat the process as one of short, medium and long term measures, reflecting IMO strategy.

Other policymakers are considering ways to push the shipping indus try further and faster and individual countries may include targets for shipping in their national mitigation plans. For example, the Europe an Union’s plan to extend its Emissions Trading System to shipping, will soon put a price on carbon for the first time.

In the short term, ABS is engaged in collaborative research and joint industry efforts to explore what is currently feasible in energy effi ciency and highlighting areas where more emphasis should be given, in order to develop safe and sustainable solutions. We examine new energy efficiency technologies, employing digitalization in order to increase operational efficiency and look ahead to the implementa tion of new fuels and energy carriers.

In preparing for the long term, we must address the challenge that the clean fuels the industry needs such as renewable hydrogen, am monia and methanol are not yet available at scale. Nevertheless, our program of Joint Industry Projects, Approvals In Principle and Joint Development Projects is helping bring innovative fuel and hybrid propulsion solutions into the mainstream. As a result, owners are able to make investments in dual fuel designs as well as studying

Soteris Pavlou

and ordering ‘dual fuel-ready’ designs for future fuels.

Decarbonization is a major focus of our Ath ens office – which supports activity in Cyprus – home to the primary Global Sustainability Centre, providing services including Green house Gas Inventory, Carbon Accounting and access to new forms of ‘green finance’.

Aside from the usual acumen that shipown ers must display in volatile markets, compet itiveness means embracing the concept of digitalization as a means of improving fleet performance, saving fuel and lowering en vironmental impact – all with the long term goal of decarbonization in mind.

For operators of existing vessels, ABS provides a suite of digital tools via its MyDigitalFleet platform that leverage data from the ship to drive vessel performance efficiency and optimised voyages. MyDigi talFleet includes tools for access by multiple stakeholders so that owners can work col laboratively with their vendors and charter ers, increasing transparency and improving voyage outcomes.

The results can be configured to report bespoke metrics gleaned from operational vessel data, visualize decarbonization KPIs, track daily carbon in tensity and emissions, while identifying opportunities for emissions reduction throughout a voyage.

For the next generation of more efficient, less polluting vessels, ABS promotes the use of cutting edge technology. Our work with vessel designers and shipyards is increasingly focussed on ways to adopt digital tools in support of measurable efficiency gains, using 3D models to streamline the class approval workflow process, reduce project risk, save cost and increase efficiency.

The next extension to this process is the use of modelling and sim ulation (SIM) technology to help owners understand how to future proof their design choices and create vessels that can adapt as regulations change.

For newbuildings, SIM-based energy efficiency evaluation supports optimization of the propulsion system, provides system level assess ment of fuel consumption and supports life-cycle cost analysis as well as detailed design comparison and optimization of equipment parameters. For existing vessels, the service assists with evaluating the retrofitting options and operational changes to reduce fuel con sumption and maintain compliance with regulations.

In recognition of the multiple, interconnected challenges the industry faces, ABS has recently published the fourth of its series ‘Setting the Course to Low Carbon Shipping’.

The Outlook examines how the maritime sector will be impact ed based on the latest trends and developments out of the IMO, technology readiness of low carbon and alternative fuels and the hydrogen and carbon value chain accelerators. It also examines the possible capacity demand and related emissions output trends on a global basis to envision the environments in which targets may be achieved through the prism of those value chains.

With the Outlook as guidance, we believe industry stakeholders can understand the complexity of the tasks-at-hand, make informed de cisions and move forward effectively as they evaluate their options for their future shipping operations. Maritime Cyprus

“Shipping Response to the 3“C”s Crises – Challenges – Competitiveness”

Soteris Pavlou, Regional Manager, ABS Limassol

Konstantinos Chatzitolios

BVQI: Pioneering shipowners are outpacing regulators

Much of the impetus to reduce emissions now comes from the shipping industry itself, with pioneering shipowners going above and beyond the pace of regulation and committing to ambitious net-zero targets. A key role of class is to empower these pioneers by providing the expertise and independent validation they need to deliver on shipping’s decarboni sation transition.

In an era of change, there are risks in acting and risks in waiting. So which path to follow?

For first-movers there is still much uncertainty about new fuels and other technologies. While the first engines capable of burning ammonia or hydrogen are already under development, significant innovation is still needed to over come the technology and safety challenges related to the toxicity, flammability and low energy density of these new potential fuels. Building the necessary global supply chain in frastructure will also take years. For shipown ers, therefore, investing in these solutions can sometimes feel like a leap of faith. However, they have a trusted advisor by their side: classification societies independently assess and validate the safety and performance of new fuels and new energy-saving devices. Consequently, class acts as a catalyst in shipping’s sustainability transition, providing the trust, ex pertise and validation shipowners need as they take up the developing innovative solutions.

Working together

Working with shipowners, shipyards and technology providers from the early concept stages to delivery, class provides the expertise and objectivity needed to independently assess new technologies.

Classification rules, provide a comprehensive framework to address the main risks related to specific fuels. Our Rule Note for ammonia gives specific requirements to manage toxicity, such as double-walled piping and detection systems wherever there is a risk of leakage. This provides clarity to industry pioneers for a number of ambitious proj ects that we are supporting, including the development of the world’s largest ammonia-powered Very Large Ammonia Carrier, which has a cargo carrying capacity of 93,000 m3 and is being built by Jiangnan Shipyard Group for shipowner JS & Co. Another example is our partnership with wind propulsion pioneering shipowner Zéphyr & Borée. We validated their unique concept of wingsails for an open-top 1,800 TEU containership. BV was involved from the very early stages, validating the feasibility of the concept.

Technology development

Technology developers are also working ahead of regulators in devel oping innovative solutions for reducing emissions needing support during all stages of their project. Many of these developments are being adapted to existing ships. BV provided Approval in Principle (AiP) for a new retrofit concept combining LNG propulsion with the jumboization of container ships. The concept was developed by GTT, an expert in LNG membrane tanks, Alwena Shipping, an engineering

firm, and COSCO (Zhoushan) shipyard. BV reviewed the layout of the LNG Fuel Contain ment System and Fuel Gas Supply System in accordance with the IGF Code and BV Rule NR 529. With our Rules, we help de-risk ambitious new projects such as this. We validate compli ance with existing rules and regulations, and where prescriptive rules are yet to be devel oped, we use our expertise and experience in risk assessment studies helping identify, assess, and mitigate potential risks.

No compromise on safety

In BV, Crew safety is an absolute. As an industry, we are responsible for protecting seafarers and ensuring they are trained to handle the technical and safety challenges of new fuels and complex vessels. Class plays a vital role in both aspects confirming that the right safeguards are in place on board. For instance, we recently carried out a study for an ammonia-fuelled tanker in collaboration with TotalEnergies. By analysing the NH3 cloud dispersion for various leakage scenarios, we acquired detailed insights and guidance for the necessary NH3-vapor processing systems, ventilation, operational protective measures and bunkering safety systems.

New markets

Shipowners are taking on new opportunities to support the energy generation. According to the Global Wind Energy Council, the offshore wind market had its best-ever year in 2021 with 21.1GW commis sioned, and more than 90 GW of capacity expected over the next few years. Turbines are increasing in size and projects are underway for a new generation of vessels capable of installing them. BV worked with shipowner Vallianz Holdings, Ulstein Design & Solutions, and Shift Clean Energy on the design and construction of a heavy transport vessel (HTV) that will be the first of its kind. The HTV will transport monopiles, jackets, transition pieces and turbine blades to offshore wind farms.

Featuring zero emission capability, the DP-2 vessel will be driven by a hybrid power system including dual-fuel engines and a battery sys tem. The shift towards sustainability is leading a new breed of ship owners to enter the market. The MANTA sailboat has been developed by the shipowning NGO The SeaCleaners to collect marine plastic pollution. BV granted an AiP for this unique vessel, which is due to set sail at the end of 2025 powered by a combination of renewable energy technologies designed to achieve 50% to 75% energy autonomy.

Regulatory support

Class has an important role here too – updating rules and interpreting regulations as they are developed. BV will continue to work with regu lators and the International Association of Classification Societies to ensure that these rules are valid, comprehensive and con sistently applied. With class supporting the industry’s efforts, it needs not be a leap of faith. Cyprus

Konstantinos Chatzitolios, Project Development Leader for Greece, Cyprus and Malta at Bureau Veritas Group

INTO CONFIDENCE

For the maritime industry, this is more than a moment of change. It’s a time for transformation. Never have the decisions it faces been so complex. Nor their consequences ever mattered more. As a trusted voice of the industry, DNV helps decision-makers throughout the maritime world to make purposeful and assured choices. From regulatory compliance, next generation fuels, vessel and operational optimization, to in-depth advice and insight, explore DNV’s solutions.

TURN UNCERTAINTY more:

Panagiotis Boussounis

DNV: Collaboration as the 4th C

Our world has clearly changed since the last Maritime Cyprus Conference in 2019 and considering the even more changes we have ahead of us, it’s about time to get together and talk about the recent past and the lessons learnt, the present and - most importantly - the future of shipping.

Once again, Maritime Cyprus Conference is opening its doors to the international ship ping community, and we in DNV are looking forward to meeting customers, partners, and colleagues from around the world in person again.

The theme of this year’s conference is a provocative one: “Shipping’s Response to the 3 C’s – Crises – Challenges – Compet itiveness”, and for our industry these are critical questions.

For the past decades shipping was mainly focused on one and only type of crisis - the financial one. Nowadays, we have more topics on our plates to deal with: the global COVID pandemic, the climate crisis, especially shipping’s impact on it, the 4th industrial revolution of digitalization, and even lately, a war, which effects worldwide trade. In other words, we are talking about a crisis of crises.

And as every crisis comes with challenges, in the case of shipping, these challenges are targeting our industry’s foundations. The seafarers that navigate the ships, the fuel that powers their engines, and the trading routes between countries. Decarbonization, is perhaps the greatest challenge our industry has ever faced, bringing tectonic transformations in operations, invest ments, safety, and most of all, the mentality in the global shipping market.

But beyond simply reacting and adapting into all these changes, the shipping industry has a unique opportunity to evolve and develop. IMO’s decarbonization goals are accelerating the research and de velopment on ship energy efficiency, engine types, alternative fuels, as well as vessel operations and voyage planning.

Coming back to our task to respond to the 3 Cs: Crises – Challeng es – Competitiveness, we in DNV propose a 4th C - Collaboration. And there is no better start for a good collaboration than meeting each other at the ‘Maritime Cyprus’ Conference from 9 to 12 October. Maritime Cyprus

Digitalization is gaining more and more ground in the industry, with applications that change traditional ways of operating, monitoring, communicating, and surveying ships. And of course, one should not forget that, triggered by the COVID pandemic out break, the physical -and mental- health of seafarers has been brought to the spotlight. This is a real change in mentality. The challenges and opportunities ahead will increase competition in the industry. And this is how it should be. However, we are not ready for a sprint race yet. Especially when it comes to decarbonization, we are just preparing for a marathon. And before we reach the starting line, we should all first share a real willingness to change and to decarbonize our industry together. This will trigger joint efforts to develop the knowl edge and tools needed to move forward towards the next decades.

The pathway to decarbonization is long, but it should not be a lonely one - we will need partnerships with stakeholders in shipping and all through the value chain, including fuel producers, engine manufacturers, and ship yards. We will need the joined-up infrastructure, energy, technology, understanding, regulations, and financial support that is only possi ble when everyone leans in, striving towards the same goal. When we do that, we will all capitalize on the knowledge of these players. After all, we don’t have all the answers ourselves.

An African proverb says that “If You Want to Go Fast, Go Alone. If You Want to Go Far, Go Together”. In the case of decarbonization of shipping, going alone is not an option. We in DNV believe that shipping must and can decarbonize fully by 2050.  At DNV we are committed to playing our part. And by working together as an industry, embracing flexibility and consulting with expert partners, we ‘ll get there.

Panagiotis Boussounis, Cyprus Operations Manager, DNV Maritime

George Demosthenous

KPMG: The 3 + 1 ”C”s in shipping: Crisis, Challenges, Competitiveness and Cyprus

During these unprecedented and challeng ing times, the business world is navigating through unchartered waters. The shipping industry itself is of no exemption. The events of the last couple of years have increased uncertainty and raised significant challenges and obstacles to the shipping world and the conduct of maritime opera tions.

Since March 2020, the pandemic has caused significant disruption to the move ment of goods and people hampering the logistics and operations of the maritime industry. With more than 90% of goods in the world transported by ships, the effect of this on the global economy has been un imaginable: port closures, less demand for cargos, seafarers trapped onboard vessels, disputes between owners and charterers pertaining to hire period and lay time settle ment, are only some of the challenges that the industry has been facing. The recent conflict in Ukraine has addition ally impacted the industry, having been severely disruptive on the supply chain with shipping routes being cut off, port calling and loading/offloading restrictions, and significantly increasing fuel and raw materials prices.

George Demosthenous, Board Member, Audit and assurance services, KPMG Cyprus

Other events have also caused disruption of lesser gravity, though still noticeable. Such are the accidental blocking of the Suez canal for 6 days in March 2021 and the seizing of two tankers by the Iranian authorities in the Persian Gulf a few months ago. Adding to these the ever changing regulatory environment, recently with a more stringent protection umbrella to the whole ecosystem, the shipping industry has been extremely busy with facing challenges, managing crisis and overcoming uncertainty.

Despite the above adversities, the events of the last few years have resulted in increased competitiveness in the market, with rising transportation costs and rates attracting new participants, as well as reigniting the fire in traditional market players. This, combined with the always increasing global population and the desire for sus tainable economic growth and development, means that demand for new ship buildings is expected to increase, despite the high initial investment cost required and current delays in production caused mainly by COVID19. Furthermore, demand for demolitions

has been statistically less than normal –shipowners seem attracted to high rates and thus reluctant to demolish – and bor rowers have shown an increased tendency to repay their debts, in many cases earlier than contractually bound, to take advantage of the excess cash coming in.

From the management perspective, the need to maintain experienced and readily available crisis management and leadership teams is becoming of paramount impor tance in order to navigate the organizations through the constant, and in many cases, unpredictable challenges. Such teams should of course be equipped with signif icant industry experience, expertise and capabilities, so that they can deal with and manage client relationships, business part ners expectations and personnel frustration including work-life balance concerns. In addition, fresh ideas and critical modern day thinking is essential in achieving this.

The use of technology is also of great importance to shipping. Technology can be used in a number of areas to improve efficiency, increase revenues and profitability, reduce costs, minimize the en vironmental footprint and increase competitiveness. Technological advancements and tools can help, not only with building eco-friend ly vessels, but also with engine performance optimization, with enabling remote access to the vessel operator that would have oth erwise required physical presence, with reducing vessel accidents by assisting vessels to stay accurately on course, and can even help to avoid piracy incidents, to name but a few. The benefits of using advanced technologies are multiple and immediate.

Cyprus, being a traditional maritime leader, can play a significant role in navigating through this period of continuing uncertainty and of unparalleled industry challenges. The continuously developing and business approach orientated Department of Merchant Ship ping, the presence of traditional ship owning and ship management companies with vast experience, the competitively priced high quality professional services offered in all support areas, the ac cess to properly and adequately qualified personnel, as well as the country’s rapid growth into a reputable international headquartering and information technology hub, have helped Cyprus become the ideal destination for every industry participant. Maritime Cyprus

Spyridon Zolotas

RINA: Crisis, Challenges and Competitiveness? Or Resilience, Opportunity and Innovation!

For thousands of years the marine industry has been at the heart of global shipping. From wooden vessels with oars and sails, to enormous tankers that travel the oceans, it remains the most efficient way to transport goods throughout the world. Historically, it has adapted and changed to meet the demand for faster transport and increased volumes but, today, it faces new challenges to reduce emissions and play its part in tackling climate change.

Decarbonisation, energy prices, war and other geopolitical situations are all challeng es for the industry – but are these crises for shipping? They are crises for society and, for sure, challenges the industry faces, but not crises. Shipping is still the most efficient way to transport goods and, whatever the challenges, is an essential part of supporting global economies and connecting people and goods to keep societies working and moving.

How, though, is the industry adapting to meet global challenges? RINA continues to work closely with the industry to promote safety and ensure vessels are fit for purpose. The industry is embracing new technologies and services that are designed to improve environmental perfor mance and increase operational efficiency. These include remote surveys, modern digital tools, new fuels, and innovative engine configurations that are taking the industry on a new journey to meet the demands of IMO 2030 and 2050.

Spyridon Zolotas, Senior Director at RINA

One of the biggest risks the industry faces is if it loses focus on its goals for decarbonisation because of global crises. Not withstand ing the war in Ukraine and activities in coal mining, shipping needs to continue to seek solutions, assist in the race to net zero, and be committed to the future. If global events detract from the progress the industry is making, we will lose time that we cannot afford to lose.

It is unlikely the competitiveness of the shipping industry will be bought into question compared with other modes of transport, but competition between shipowners remains strong. Greek shipping remains number one in the world and should follow developments and be ready to maintain its leading position by embracing new technology and tools.

Fleet monitoring platforms offer an opportunity for shipowners to ensure they optimize performance of both fleets and individual vessels and provide an ideal way to both drive efficiency and reduce emissions today. As the number of vessels using platforms such as RINA Optimum grow and volumes of data increase, advanced analytics provide deeper insights into performance and operational measures to enable even greater optimization. While digital tools are an essential part of the development of the

shipping industry, they go hand in hand with the challenges of cyber security. This has become an essential part of safeguarding operations and companies such as RINA are investing heavily in ensuring the industry has the expert support and tools it needs in this area.

Digital tools offer a step forward on the decarbonisation journey but, ultimately, we will need new fuels to reach our targets. The fuels of the future will not only be deter mined by our industry but will also rely on directions and investments made in other sectors. The question of which fuels will be available in the volumes required and the supporting infrastructure to support global bunkering is still unknown. To reach our targets, we must explore and be open to all options and opportunities. Dual fuel engine configurations offer a solution to enable shipping to move forward with new ener gies and the recent approval in principle of hydrogen/LNG fuelled vessels1 is particu larly exciting, as the hydrogen is produced onboard and the technology does not rely on the availability of supporting infrastructure.

In summary, how is the shipping industry tackling the 3 C’s – crisis, challenges, and competitiveness?

1. Crisis

The crises we face are global crises and the shipping industry, as always will remain as a backbone of the transport network and support the world in finding the solutions it needs to overcome whatever we face.

2. Challenges

Yes, the industry faces challenges, particularly in its efforts to meet decarbonisation targets, but this is not the sole responsibility of shipping. We are making excellent progress and must embrace ev ery option available to us – which includes digital tools, innovative services, new technologies, and new energies. Decarbonisation is a journey and the biggest risk we face is if we lose focus.

3. Competitiveness

While there is demand for goods to be transported, the shipping industry remains the safest and most cost-efficient mode of trans port. Increased costs of new fuels and technologies will be borne by supply chains, but individual shipowners need to be open to all opportunities to drive efficiency to compete within the industry.

For all of these ‘3C’s’, RINA continues to invest and support the industry through innovative new services, recruiting of expert per sonnel, and cross-industry projects that will help define the shipping industry of the future. Cyprus

UK Ship Register From Posidonia to Maritime Cyprus

Lunch and Learn Greece

Earlier in the spring, we were delighted to host an intimate lunch for select members of the Greek shipping community, offering the op portunity for peer-to-peer networking and the chance to learn more about the UK Ship Register and UK Flag commercial offer. With Piraeus Marine Club as our picturesque backdrop, we shared our customer-centric approach, offering effortless international ship registration and wide-ranging integrated services. We understand the time constraints and pressures facing ship owners, managers, and operators, therefore seeking to make the process as quick, efficient, and simple as possible.

We believe our flag services should reflect the 24/7 nature of the shipping industry and have fully embraced digital with online access to registration services and e-certification as standard. You can reg ister your vessel whenever you need, no matter where in the world you are based. Our dedicated team of International UK Maritime & Coastguard Agency Surveyors are available to provide technical ad vice and support 24/7, 365 days a year, plus international custom ers benefit from the support of a dedicated account manager.

Posidonia

It was these messages we took with us to Posidonia 2022. After four long years apart, it was wonderful for the UK Flag team to re turn to Athens for the exhibition. Representing the UK Ship Register were Dan Vivian, Commercial Director; Adam Risbridger, Head of Business Development; and Andriani Vodena, Sales Executive and Representative for Greece and Cyprus. We had the opportunity to share the benefits and services of the UK Flag with the international shipping community, participate in interesting discussions, and attend meetings with stakeholders and customers.

Reflecting on the UK Ship Register’s time in Athens, Commercial Director Dan Vivian said, “It was a pleasure to have the opportunity to reconnect with colleagues and partners at Posidonia 2022, after all this time apart. The UK Flag has a strong reputation among the Greek shipping community, and internationally, and our updates were positively received by all we encountered.

“These conversations with the industry are invaluable, as they enable us to ensure the UK Flag is offering what is needed from those ship owners and operators but also provide us an opportunity

Coral Piraeus ship repairs PC is a company with extensive experience since 1990 in the procedures of surface preparations, using modern sandblasting –High Pressure Jet technology and Ultra High Pressure Water Jet (U.H.P.W.J). Moreover, it is also equipped with robotic systems and application of synchronous coating methods.

Furthermore the company provides cleaning services GAS FREE. Coral Piraeus ship repairs PC holds all the certifications ISO. (ISO 9001:2015, ISO 14001:2015, ISO 45001:2018)

to offer clarity on potential areas of misconception such as fees and tonnage tax.”

There is great flexibility in terms of fees, with pay-as-yougo or pre-packaged options available plus no hidden an nual tax, allowing companies to easily plan their financial commitments. In addition, we offer the freedom to be part of any international Tonnage Tax regime.

The UK Flag has undergone significant transformation over the last two years, including establishment of our office in Piraeus, and this sentiment was echoed by the UK’s Maritime Minister, Robert Courts MP is his speech at the British Embassy’s Posidonia Reception. Minister Courts described the UK Flag as “the ‘standard-bearer’ of Global Britain, offering the freedoms, service, and expertise for which it is renowned.”

Our position as a consistently high-performing internation al ship register was further strengthened with the news that the UK Flag has maintained a position on the Paris and Tokyo MoU White Lists for 2022-23.

In addition, the flag was also awarded QUALSHIP21 status (Quality Shipping for the 21st Century) by the US Coast Guard for a 12th consecutive year. To achieve the world-re nowned mark of quality flag states must meet strict qualifi cation criteria and QUALSHIP21 status provides significant competitive advantage to UK-flagged ships when trading with the US. Vessels and operations are subject to fewer port state control inspections when in US waters, lowering the likelihood of delays and increasing returns. This international standing is exactly what you would expect from a highly respected flag that has a strong focus on safety and compliance, such as the UK Red Ensign. We are committed to forging strong partnerships and engaging with international shipowners and operators. At the forefront of the maritime industry, we are constantly improving our offer to respond to the needs of global shipping, particularly supporting the industry to meet the challenge of profitably transitioning to net-zero carbon shipping by 2050 – the goal established by the Internation al Maritime Organisation.

Maritime Cyprus Conference

If you, are you are seeking a top-ranking flag that offers all the high-quality services you expect, with a rich maritime heritage and strong voice in the international shipping community, then the UK Flag is the valuable partner you need.

Your next opportunity to meet with the UK Ship Register will be at the Maritime Cyprus Conference in Limassol later this year. We look forward to participating in the renowned conference from 9 to 12 October, where we look forward to meetings with the international shipping community and the opportunity to take part in discussions on crucial ship ping issues. Our team will be available for 1-2-1 meetings and informal talks during the conference, please connect with us on LinkedIn or email UKShipRegister@mcga.gov.uk to arrange a convenient time.

Minister Robert Courts, Minister for Aviation, Maritime & Security

British Ambassador Matthew Lodge, Her Majesty’s Ambassador to the Hellenic Republic, Greece

From left to right, Dan Vivian – Commercial Director UKSR, Minister Robert Courts, Minister for Aviation, Maritime & Security, Andriani Vodena – UKSR Representative Greece, Adam Risbridger- Business Development Manager UKSR

Bureau Veritas issues New Structural Rules for Steel Ships

Bureau Veritas (BV), a world leader in testing, inspection and certi fication, has announced the release of its new structural rules for steel ships, NR467. The new rules are a significant development in classification society standards, building on extensive hydrodynamic simulations as well as unprecedented insight into hydrodynamics and structures, supported by 15 years of new digital tools and in creased computing power.

The new NR467 rules, which address the safety requirements for the structural assessment of sea-going ships, replace the rules issued in 2000, and comprise significant changes that will benefit shipyards and shipowners. These include increased clarity and transparency in the parameters used for formulas to support a bet ter understanding of the rules and of the physical phenomena taken

into account by shipyards and designers.  The advanced concept of Equivalent Design Waves (EDW) was ex tended to the structural assessment of all types of sea-going ships, taking into account the latest developments in our understanding of key physical processes and hydrodynamics. New hydro-structure coupling tools have been used to validate the choice of the Equiva lent Design Waves and the correct combinations of design loads. It is now proven that these waves are sufficient to maximize the struc tural response at any location on the ship. This improves the defi nition of loads and scantling requirements, enabling the rules to be more accurate when combined with the associated new formulas and increased computational capabilities for extreme storms and fatigue condition assessments. In tangible terms, this now enables shipyards to improve the distribution of the steel weight, leading to better performance and potential cost savings for shipowners.  Importantly, these new rules harmonize the steel ship rules for all ship types (bulk carriers, tankers, containerships, etc.), providing a consistent framework for designers and shipyards to apply to all vessels. BV has also standardized its rules in line with the Interna tional Association of Classification Society (IACS) requirements for all strength matters, such as design principles, the Equivalent Design Wave (EDW) approach and scantling requirements, amongst others.

The development of new BV rules follows a thorough process that begins with Research and Development (R&D) together with industry partners. This is how BV ensures that industry experience informs the development of rules and notations that are aligned with the realities on the ground. BV’s global industry partners are invited to comment on draft rules, before final feedback is sought from a broad range of stakeholders during consultations.

Bureau Veritas delivers AiP to the MANTA, an innovative clean up vessel

ies of major rivers.

This unique vessel, due to set sail at the end of 2025, was devel oped by MANTA INNOVATION, the integrated engineering design office of the NGO The SeaCleaners, with the support of naval archi tects at SHIP-ST and LMG MARIN.

A 56m long, 26m wide and 62m high sailing ship, the MANTA will be equipped with an on-board factory including a waste-to-energy conversion unit. The vessel will be the first concentrated ecology and technology factory ship capable of collecting and processing floating ocean waste en masse before it gets fragmented, starts to drift and penetrates the marine ecosystem in the long term.

A beacon of Smart and Green Ship, the MANTA will be powered by a combination of renewable energy technologies to minimise its carbon footprint and achieve 50 to 75% energy autonomy. It will also serve as a state-of-the-art scientific laboratory for the observa tion, analysis and understanding of ocean plastic pollution and as an educational platform open to the public.

Bureau Veritas reviewed the overall structure, stability and security plans of the MANTA, based on risk mitigation around new technolo gies and requirements.

Bureau Veritas, a world leader in testing, inspection and certifica tion, has awarded an Approval in Principle (AiP) to the MANTA, a pioneering vessel offering solutions for collecting and repurposing floating plastic waste in areas of high marine litter concentration, in the coastal waters of most affected countries and near the estuar

Credit: SYNTHES3D for THE SEACLEANERS

Accelleron turbochargers adopted by Japan Engine Corporation for use in the latest UE Engines

Accelleron, the new face of ABB Turbocharging, and Japan Engine Corporation (J-ENG), the global engine licenser, have signed a technical agreement that authorizes the use of Accelleron turbo chargers on the UE Engine, one of the world’s three largest brands of low-speed marine engines.

J-ENG was established in April 2017 following the consolidation of Kobe Diesel Co., Ltd. with the diesel engine division of Mitsubishi Heavy Industries Marine Machinery Co., Ltd. J-ENG is the only com pany in the world to have an integrated system of the UE Engine from development to after-sales service and has a reputation for high quality and embracing the latest advanced technologies. The UE Engine developed by J-ENG is continuously evolved by incor porating the latest technologies and future fuels in order to respond to market trends and diversifying customer needs.

The Accelleron A100-L / A200-L range of turbochargers is designed for low-speed marine main engines and with orders of over 5400 to date. By raising volume flow with increased power density and compact design, the high efficiency and high-pressure ratios of turbocharging increase engine performance. This feature enhances the high fuel efficiency of the UE Engine and contributes to reducing fuel consumption. It also contributes considerably to reduced CO2 emissions and decarbonizing ships installed with UE Engines.  “The agreement between our two companies will strengthen both our offerings and we are proud that Accelleron turbochargers will be used in UE Engines going forward. Our experience and reliability

make us confident that our proven turbocharger technology can support the attainment of high fuel efficiency and lower emissions from UE Engines as ship operators take action to decarbonize the global shipping fleet,” said Alexandros Karamitsos, Head of Global Sales for Product Line Low-Speed Turbochargers, Accelleron. The first Accelleron turbocharger A255-L was introduced on the latest UE Engine model, 6UEC33LSH -C2, produced by the J-ENG’s UE licensee in China, Zhejiang Yungpu Diesel Engine Co., Ltd, in July 2022.

Ecochlor launches a containerized version of the EcoOne® filterless BWMS.

Ecochlor is pleased to launch a containerized version of the EcoOne® filterless ballast water management system (BWMS). The EcoOne® Container Unit is well suited for Semi-Submersible Rigs, Jack-Up Rigs, Drillships, FPSOs, FSRUs and other vessels with infrequent ballasting operations at medium to high flow rates.  “The EcoOne® Container Unit offers incredible benefits to Mobile Offshore Drilling Units (MODU),” said Andrew Marshall, Ecochlor CEO. “One system can simultaneously serve up to four separate sea chests or quadrants, in the case of the semi-submersible rigs. It also allows for gravity ballasting on uptake and discharge, and has very low power requirements. Plus, a single unit can be easily shared between multiple rigs and/or vessels. This is a great break-through for the offshore market as they have faced difficulty complying with the BWM Convention due to a lack of systems that work reliably and cost-effectively for their unique needs.”

The EcoOne® Container Unit has a small footprint and does not require filters. Installation requirements below deck and in the pon toons are minimal with only one-way, 1”/DN25 piping. Additionally, the container can be removed while the MODU is stationary, saving valuable deck space.

Baway Electromagnetism Flow Meter & TRO Monitor Granted DNV Approval

Baway Fluid Technology Co., Ltd., a subsidiary of Allied Planet Limited (based in Hong Kong) and Baway Technology Co., Ltd. (based in Shang hai), announced on 11th July, that the independently researched and developed Electromagnetism Flow Meter and TRO Monitor has passed the inspection of DNV and granted type-approval certificates.

The company says the acquisition of DNV TAC indicates Baway marine flow meter and TRO monitor for ballast water treatment and scrubber wash water have made their place as world-leading products.

The approval includes regular and Explosion Proof (Ex) type products, meets the Ex-standard “Ex PXB IIC T4 GB”, and can be installed in Zone 1, with IIC atmosphere and T4 temperature range.

According to Baway, the company started cooperation with DNV, the independent laboratory of the U.S. Coast Guard, and deeply assessed the functionality, industrial design, environmental endurance, and logic control of the products.

Empowered by the first-handed data and research in the past decade, developed a “hardware + soft filter algorithm” solution and overcame the vexed problem of vibration and EMI interference, which can provide stable support for ballast water and wash water treatment.

The R&D leader of Baway Fluid Technology says: “With the extraordinary quality, accurate measurement, and stable performance, Baway passes the tests and become product provider of the leading companies such as Headway”.

Headway BWMS has been sold to over 3000 ships

The fierce competition indicates the“final lap” of #BWMS market.

BWMS suppliers in this industry sprinted into a wave of active responses to snatch more orders. Recently, Headway has hit a new record of more than 3,000 shipsets BWMS contracts. After signing a series of sale contracts with well-known shipowners. The new milestone keeps Headway in the first echelon from the market share perspective and showcases Headway is trust worthy in product quality and global service.

Total Residual Oxidation (TRO) is a vital parameter for electrochlo rination ballast water treatment, based on the feedback of the ship crew, Baway TRO Monitor firstly made the breakthrough of accurately measuring water with high TSS concentration and extreme turbidity. The product is ideal for ballast water treatment systems, especially the filterless design BWMS.

Baway TRO Monitor impressed the lab staff during the experiment: “It is clear that Baway has an excellent pipeline design, product structure, and component selection”.

The optimized pipeline design and the micro-dosing pump effectively prevent the potential clog of sampling pipe and injection pipe.

The Baway TRO adopts an advanced system layout in that all water and electricity in the cabinet are entirely separated, which enhanced the exproof performance while enabling the monitor to replace regents without interruption. Moreover, Baway is able to provide regents and spare parts in any port, any time.

“Baway is honored to obtain the DNV type approval, this is another milestone of the worldwide recognition of the company”, said the CEO of Baway Fluid Technology, “Baway will devote itself to improving the product and fulfill the expectation of customers!”

Alfa Laval FCM Methanol chosen for six methanol-fuelled container vessels

Alfa Laval technology is playing a leading role in the marine industry’s transition to carbon-neutral green methanol. In this year’s largest methanol order to date, the Alfa Laval FCM Methanol will be the low-flashpoint fuel supply system (LFSS) on six dual-fuel container vessels. The system was chosen for both its real-life performance and its high design flexibility.

Decisive in the move to methanol

Alfa Laval will provide the methanol LFSS for six 1170 TEU contain er vessels ordered by Eastaway, a member of the X-Press Feeders Group. The new vessel series, to be built at Chinese shipyards Ningbo Xinle Shipbuilding Group Co., Ltd and New Dayang Shipbuilding Co., Ltd, will have two-stroke MAN B&W ME-LGIM engines that can run on methanol as well as conventional fuels. The FCM Methanol deliveries will begin in June 2023.

“Alfa Laval is proud to be chosen for this significant methanol proj ect,” says Peter Nielsen, President, Alfa Laval Marine Separation & Heat Transfer Equipment. “With their ability to sail on green metha nol, these vessels will be front-runners in the move to carbon-neutral operations. Methanol is a major advance on the path to decarboniza tion, and the FCM Methanol can be instrumental for shipowners in making the leap.”

Adaptable and proven at sea

Because methanol technology is a new element in shipbuilding, yards adopt different setups to suit their learning curve. Given the complex ity and scope in this project, the yards have hired engineering com panies to procure and integrate the methanol-related components. The FCM Methanol was selected due to its unique flexibility and Alfa Laval’s extensive methanol experience.

With mature technologies and reliable automation, the FCM Methanol safely supplies methanol within the flow rate, pressure, temperature, and filtration parameters specified by the engine maker. Because it can be adapted to any engine and vessel design, it enables turnkey LFSS deliveries for easy installation. Since 2015, the system has been chosen in nearly 20 methanol projects for more than 10 large shipping companies.

“Over years at sea, the FCM Methanol has established a leading po sition in the industry,” says Alfa Laval’s Viktor Friberg, Head of Marine Separation & Fuel Supply Systems. “Shipowners can count on its proven automation to keep methanol operations safe and secure, but the design advantages are equally strong for engineering companies and shipbuilders. From integration to operation, the FCM Methanol makes it simpler to work with this new green fuel.”

Bureau Veritas delivers Approval in Principle to HELION fuel cell system, FC-Rack

This Approval in Principle (AiP) is the result of a close collaboration between HELION and Bureau Veritas, aiming at deploying the safe use of hydrogen as an energy vector for propulsion and shoreto-ship power supply.

A new generation of marine fuel cells

The work carried out has enabled the Alstom subsidiary’s 6th generation of hydrogen fuel cells to comply with Bureau Veritas rules that correspond to the use of fuel cells on board ships.

The fuel cell “marinization” is ensured thanks to a double envelope enclosure that enables the system to be perfectly sealed in a saline environment. In addition, HELION’s new FC-RACK™ Marine incorporates a thermal management system, a dedicated on-board control system, and a hydrogen safety system that enables the FC-RACK™ Marine to be installed inside or on the deck of the vessel. Finally, its vertical architecture facilitates ease-of-access during maintenance operations. “This new generation of fuel cells is in line with our pillars which are: durability, safety, and maintainabil ity. The substantive work that has been carried out along with our certifying partner confirms our belief that the product meets the requirements of the maritime sector. The latter also suggests that our FC-RACK™ Marine will quickly obtain final approval (Type Approval Certificate). This certificate will lead to the industrialization of the FC-RACK™ Marine in order to provide a reliable and robust solution to our customers in the marine industry in their decarbonization ambitions. The story does not end there since our fuel cell system has already been selected in marine projects in real-world conditions”, says Vincent MAHEO, President of HELION Hydrogen Power Laurent Leblanc, Senior Vice President Technical & Operations at Bureau Veritas Marine & Offshore, commented: “Our role as a Class society is to enable our cus tomers to tackle the energy transition. We use our expertise to help advance safe innovation and to make possible solutions for tomorrow. Collaborating with HELION on the zero-emission hydrogen powered electric generator is very stimulating. We look forward to continuing the partnership and support the industry decarbonization’s journey.”

PHOTO: Alexandre DENJEAN, Franck VERBECKE, François-Xavier DERREUMAUX, Thomas GROSJEAN at the Port of Marseille for the AiP delivery of the Helion Fuel Cell system.

HELION’s marine certified fuel cell will be operational by the end of 2023 and will supply zero-emission power to a dredger operating in the Occitanie Region and built by Piriou shipyard. For this world’s first hybrid diesel-hydrogen dredger, HELION’s 200 kW FC-RACK™ will provide the energy required for life on board when the vessel is at berth and will partly supply the power needed for the propulsion during dredging activities.

Ecochlor Expands Innovative “Green Marine” Offerings

Ecochlor, Inc. is pleased to announce the signing of a Collaborative Agreement with Armada Technologies, LLC. As part of the Agree ment, Ecochlor will provide Armada with technical assistance and global sales and marketing support.

Andrew Marshall, Ecochlor CEO comments: “I am very excited to in troduce the Armada system to the maritime industry. In comparison to hull lubrication competitors, the Armada system has a relatively low installation and operating cost. Its unique design uses less power than other hull lubrication technologies, decouples speed from drag reduction and is easier to maintain. This provides an economic payback to the shipowner within a shorter period of time. A complete win for owners looking to reduce their carbon footprint whilst reducing costs!”

The Armada hull air lubrication system is expected to be avail able to shipowners by the end of 2022. The system will deliver an estimated fuel saving of 10 - 12% depending on hull design and is effective regardless of fuel type, making it a key technology in transitioning to zero carbon fuels.

“This Agreement with Ecochlor, a top-tiered, respected, global com

pany, offers us the strong engineering, sales and marketing support that we need to jump into the maritime industry. We are very much looking forward to collaborating with their very experienced Team and our future alliance,” said Alexander Routledge, CEO of Armada,” said Alexander Routledge, CEO of Armada.

Routledge explains the concept behind the technology: “Our system is more advanced than any other hull lubrication technology on the market today. Armada utilizes the ship’s own forward motion to help drive the system. An eductor is used to draw air in whilst a series of micro bubble emitters distribute the bubble swarm under the ship; this significantly reduces drag, offering clear and immediate bene fits to any shipowner looking to reduce emissions on their ships.”

Ecochlor has a long-term strategy of diversification from being solely-focused in ballast water management to offering additional ”green marine” technology solutions to shipowners through their own internal R&D as well as collaboration and partnerships with other maritime companies. The Armada collaboration further expands their innovative environmental technology offerings to the maritime industry.

M/T SUVRETTA becomes the first vessel to include hull coating impact in EEXI Technical file approved by DNV

The 109,250MT M/T SUVRETTA, registered with Greek flag, recently became the first vessel to have the coating impact included in the EEXI assessment and approval.

Initially the model test report of M/T SUVRETTA has been assessed if the criteria setup by DNV are fulfilled while the paint supplier, International Paint, has provided a ΔCF (reduction of the frictional resistance coefficients), valid for the specific paint scheme at M/T SUVRETTA.

Then, the original model test results have been re-evaluated and a new speed-power curve have been predicted by DNV, valid for the intended low friction paint scheme.

In the case of M/T SUVRETTA the application of low friction paint led to an increase in the reference speed by 0.17 knots to reference speed (Vref) 14.87 knots.

Finally, the new curve was used by NEDA to prepare the EEXI Tech nical File, which was later approved by DNV as the RO of the vessel.

“A joint industry project between DNV, NEDA and International Paints has paved the way for a meaningful hull energy level re-eval uation, based on the model test speed-power results, extrapolated to a lower roughness of a proven ultra-low friction paint by means of the Recommended Procedures ITTC 78. NEDA were the first to utilize this methodology for the EEXI Techni cal File to be evaluated based on an improved reference speed, and

“

in turn a lower main engine power limitation, which is a benefit for the Owners” said Dr Panos Deligiannis, Tanker Technical Director at NEDA Maritime Agency Co Ltd.

Dr. Uwe Hollenbach, Principal Engineer, Ship Performance Center, DNV Maritime, commented:

“I am proud that DNV has established a simple and cost-effective method for including the impact of low friction paint in the EEXI Tech nical file without the need

performing sea trials. The method follows the relevant recommended procedures of the International Towing Tank Conference (ITTC) and practically is the same as if a model basin performs predictions for a low-friction case.

”

Mr. Jason Stefanatos, Regional Decarbonization Director, DNV Maritime, said:

Our industry faces the greatest challenge ever: decarbonization. The pathway to a greener maritime future is long and arduous. But we can meet this challenge and find the best solutions, together. The SUVRETTA paradigm points the way to a zero-emission shipping industry. From our part, it was great to be involved in this project, and see a Greek vessel being the first globally to explore this track. Another sign that Greek Owners, like NEDA Maritime Agency, are innovative and lead the way towards decarbonization.”

Image caption: M/T SUVRETTA

NEDA Maritime Agency has entrusted DNV assessing the effect of low friction paint on the reference speed for the purpose of EEXI at the aframax tanker M/T SUVRETTA.

Dedicated support now in Greece

Technomar Shipping Selects RINACube Platform

Technomar Shipping has signed a contract with RINA for software licenses to employ the RINACube MRV-DCS-CII Data Collection and Reporting platform across 105 of its vessels.

RINACube MRV-DCS-CII web application will be used on board each ship to collect the data required by EU MRV and IMO DCS regulations. Using the data collected, the software enables calculation and information pertaining to the current CII rating of the ships and a projection of the CII rating over the coming years. The information it will provide will enable Technomar to foresee any potential issues and take any corrective actions necessary in good time to maintain compliance with new environmental regulations.

Theodore Baltatzis, Managing Director of Technomar Shipping, said: “Decarbonization of our fleet is a top priority. With RINA’s digital tools we will gather the in formation we need to fine-tune vessel performance, improve energy efficiency, reduce emissions, ensure compliance with evolving environmental regulations and drive strategic decision-making. Going forward, timely and accurate data will be key to supporting the collaboration between shipowners and charterers that will be necessary to successfully optimize ships’ operating profiles and CII ratings”.

As a web-based application, the software will provide access to data to onshore and onboard personnel and will present information about vessels’ CII rating in a clear and efficient manner.

Spyros Zolotas, RINA Marine Southern Europe & Africa Area Senior Director, added: “We are very happy to have been awarded this con tract with Technomar for its whole fleet. Supporting the shipping industry to achieve its decarbonization targets is a top priority for RINA. Although we are involved in many projects to develop technology and new fuels to reach net zero, our digital tools provide a highly effective way to drive ship performance and efficiency, thereby reducing emissions today”.

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ABB to spin off its Accelleron turbocharging business

pulsion and increase fuel efficiency while reducing emissions. Its leading products support clients in sectors including marine, energy and rail, helping to provide sustainable and reliable power and high est efficiencies. Accelleron has an installed base of over 180,000 turbochargers globally and delivers around 10,000 turbochargers every year.

The turbochargers are produced, sold and serviced by Accelleron’s 2,200 employees across its network of 100 service stations in approximately 50 countries. The business has a significant and increasing presence in key established and growth markets in Asia. Accelleron is considered best-in-class when it comes to reducing fuel consumption and improving the emissions and green profile of its clients’ applications. The company’s outstanding technological competence is increasingly important as pressure grows on its clients to decarbonize, and will remain so, as its turbochargers can also be implemented in alternative and low-carbon fuel applications and drive systems.

Strong financial profile to invest for growth and reward shareholders

Following a decision by its Board of Directors, ABB announces its intention to spin off Accelleron (formerly ABB Turbocharging), its market-leading turbocharging division, by way of a dividend in kind of Accelleron Industries Ltd’s shares to ABB’s shareholders. Accelleron’s listing on SIX Swiss Exchange in Zurich is planned for October 3, 2022, and is subject to, among others, approval by ABB’s shareholders at an Extraordinary General Meeting scheduled for September 7, 2022.

The proposed spin-off of Accelleron represents a unique opportu nity for both companies, allowing them to focus on their respective core strategies and create long-term value for their stakeholders. ABB’s shareholders will be able to realize the full value of Accelle ron, while ABB continues to simplify its portfolio and focus on the megatrends of electrification and automation. Accelleron will be able to concentrate exclusively on reaching its full potential in the large engine industry where the company is known as the market leader in heavy-duty turbocharging, with a compelling growth profile, high cash generation and an attractive expected dividend policy.

Björn Rosengren, Chief Executive Officer of ABB, commented: “After careful consideration involving a dual-track process, we have concluded that spinning off Accelleron is the best way forward –for Accelleron itself and for ABB’s shareholders. This decision also forms a key part of ABB’s active portfolio management, while allow ing our shareholders to actively participate in the future growth of this Swiss champion.”

Global market leader in the turbocharging sector

Accelleron’s potential is driven by its position, built on its very long track record, as a global market leader in heavy-duty turbocharging for mission-critical applications.

Accelleron develops, produces and services turbochargers and large turbocharging components for engines, which enhance pro

Accelleron’s technological pre-eminence is underpinned by market leading investments in research and development, representing ap proximately 7 percent of its 2021 revenues. Following the spin-off, the company expects that its strong financial profile will allow it to remain at the forefront of innovation by continuing investing in R&D and strengthening partnerships with OEM’s and end users as well as to offer attractive returns to its shareholders.

In 2021, Accelleron generated revenues of $756 million with an operating margin of 25 percent. These results are comprised of resilient service revenues accounting for about 75 percent of 2021 revenues. Accelleron has a profitability above sector average with robust cashflow generation with Cash Flows from Operating Activ ities of $163 million in 2021. This will allow Accelleron to adopt an attractive dividend policy.

Daniel Bischofberger, CEO of Accelleron, commented: “Through the spin-off, we will have an even greater focus on our own operations, meeting the critical high-power propulsion needs of our customers while enabling them to achieve their environmental targets. Our strong track record and financial profile position the business to be a leader in the energy transition, developing cutting-edge products and services – both now and far into the future; all while remunerat ing our shareholders.”

Transaction structure

Provided that the spin-off is approved at the EGM and the condi tions precedent for it are met, ABB will distribute to its shareholders, on a pro rata basis, as a dividend in kind, 1 Accelleron share for 20 ABB shares held. Further information on the transaction structure and other important dates in connection with the spin-off will follow in the invitation to the EGM and in the Shareholder Information Brochure prepared by ABB in relation to this process.

On August 31, 2022, ABB has scheduled a Capital Markets Day focusing on Accelleron in order to provide further information on the company and the transaction.

ABB has retained Credit Suisse and Goldman Sachs International as exclusive financial advisors on the transaction. Credit Suisse will be acting as listing agent.

FINANCIAL REPORTING MASTERCLASS

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DNV recognizes Arcadia Shipmanagement’s Aegean Myth as the first verified SEEMP III vessel

Classification society DNV presented Arcadia Shipmanagement Co Ltd. with a certificate recognizing their vessel Aegean Myth as the first vessel globally to have a SEEMP III manual. The Ship Operation al Carbon Intensity Plan or SEEMP Part III, is part of IMO’s strategy to reduce shipping’s greenhouse gas (GHG) emissions and a veri fied SEEMP Part III must be kept on board from 1 January 2023.

The SEEMP Part III, or Ship Operational Carbon Intensity Plan, was finalized with the latest amendments to MARPOL Annex VI and the associated Guidelines at MEPC 78 last month. It requires ship owners and operators to monitor, report and verify CO2 emissions annually for all vessels larger than 5,000 GT. It is a ship-specific document, a dynamic and regularly updated three-year implementa tion plan describing how a vessel will achieve the required Carbon Intensity Indicator (CII) over the next three years, with yearly targets, procedures for self-evaluation and improvement, and a corrective action plan in case of an inferior rating. “We are very proud to be the first shipping company to have received approval by the world’s leading classification society, DNV, for our fleet’s SEEMP Part III, starting with our Aegean Myth vessel,” said Mr. Dimitrios Mattheou, CEO of Arcadia Shipmanagement Co Ltd. “At Arcadia we are com mitted to providing safe, sustainable, and reliable transportation of oil by sea. Initiatives like this broaden the values of safety and envi ronmental excellence by implementing effective management sys tems to comply with incoming regulations to consistently achieve

reliable and environmental incident-free performance. This approval by DNV marks the first milestone for smooth compliance with IMO’s requirements. We would also like to thank Alpha Marine Consulting PC for supporting us in SEEMP Part III preparation,” he added.

“DNV congratulates Arcadia Shipmanagement on being the first company to receive SEEMP Part III approval,” said Ioannis Chio topoulos, Senior Vice President – Regional Manager SE Europe, Middle & Africa, DNV Maritime. “It demonstrates their willingness to ensure that their vessels are out in front, in terms of both regulatory compliance and their sensitivity to the environment. In addition, to have been able to complete the SEEMP Part III preparation and approval so quickly after MEPC shows great teamwork and the ef fectiveness of our new digital tools. The CII will require more of the shipping industry in terms of data collection and sharing. At DNV, we have invested in developing our competence and services for this new regime, including developing a set of digital solutions that will make compliance as simple and transparent as possible for our customers,” he added.

DNV recently released the free SEEMP III Generator tool for DNV customers. The system can propose energy efficiency measures and help vessel operators reach the required CII. It can also help to reduce paperwork and can be used by both ship managers and third-party consultants working on behalf of DNV DCS customers.

CMA D. ARGOUDELIS & CO S.A. Partnerships with ASK Digital

CMA D. ARGOUDELIS & CO S.A. has signed a contract agreement with ASK Digital, a creative web design company in Greek Market.

ASK Digital provides comprehensive Website Design & Development e-shop & digital marketing services. According to a press release of CMA, “it has the most professional, specialized & creative developers for these services. Their customer’s website is the first and perhaps the most important step for their web presence. Furthermore, they can build both commer cial e-commerce websites designed to optimize cus tomer satisfaction and drive sales, as well as internal web apps for aiding in business automation. Digital Marketing Services these days, is also is the key to success. Companies need to communicate their brands and messages, bring visitors to their website and reach their awareness, sales or lead generation goals, through digital channels. Recently ASK Digital gained the GREAT WEBDESIGN AWARD from the company WEBDESIGN-INPIRATION. COM for their unique & creative skills”!

CMA believes that with this cooperation will offer the best services to our customer needs.

ERMA FIRST launches shore power solution BLUE CONNECT

EPE Launches Smart Inventory of Hazardous Materials Management Platform

Industry-leading ballast water treatment specialists ERMA FIRST have launched BLUE CONNECT, a revolutionary high-voltage shore power solution, more commonly known as Alternate Marine Power (AMP) or Cold Ironing.

BLUE CONNECT seamlessly facilitates a vessel’s connection to a port’s electrical grid in order to power the vessel’s sys tems and equipment while at birth.

This enables the ship’s diesel generators to be switched off, with a resultant reduction in noise and emissions, such as particulate matter, nitrogen oxides, sulphur oxides, carbon oxides and volatile organic compounds.

The installation and use of BLUE CONNECT will contribute to the global shipping industry’s decarbonisation goals, includ ing the European Union’s Fit for 55 plan, the United States’ CARB Regulations and the International Maritime Organiza tion’s carbon reduction measures.

The vessel is connected to shore through the Cable Manage ment System. ERMA FIRST currently offers standard BLUE CONNECT models for: RoRo/RoPax, Passenger Ferries, Con tainers and Tankers. Custom-made BLUE CONNECT systems are also available upon request.

BLUE CONNECT includes a power transformer, which trans forms high to low voltage, as well as the required switchgear to protect crew and equipment. The operation is controlled and monitored by the Shore Connection Main Control Panel. Power changeover supports shore-to-vessel synchronisation to avoid black out upon connection. The system can also be integrated to a vessel’s AMS or/and PMS.

Speaking ahead of SMM Hamburg, ERMA FIRST Managing Director Konstantinos Stampedakis said:  “The launch of BLUE CONNECT represents another key technological milestone for the ERMA FIRST Group. We now boast an array of game-changing engineering solutions and products for the maritime community globally. Protecting the environment has always been at the core of ERMA FIRST’s offering. BLUE CONNECT is a highly advanced cold ironing solution that can help significantly reduce emissions in ports around the world.”

Environmental Protection Engineering (EPE), a leading supplier of environ mental protection services and products, has launched HAZDASH – an intelligent cloud-based platform which allows the Inventory of Hazardous Materials (IHM) onboard a ship to be kept fully up to date.  Managed by highly trained and experienced Hazardous Material experts, the new cost-effective platform ensures regulatory compliance by stream lining the IHM maintenance process for both shipowners and suppliers.    With information available in real-time, shipowners and vessels can ensure a fleet’s IHM remains up to date and can easily access and download the required documentation at any time. HAZDASH can be connected to a ves sel’s enterprise resource planning (ERP) system to instantly notify users of new orders and once an order has been placed the system automatically contacts suppliers to request the required IHM documents. HAZDASH also creates an online library of all incoming Material Declarations (MDs) and Suppliers Declaration of Conformity (SDoCs) with the relevant Purchase Order information that shipowners and vessels can access.

For suppliers, HAZDASH removes the burden of uploading documentation for each individual order and prevents unnecessary requests being issued due to relevancy checks carried out by the systems smart filter function. Suppliers can easily browse IHM document requests and generate, upload and submit documents via the platform, and create a product catalogue to ensure all IHM documents are readily available to all stakeholders.

Furthermore, suppliers can generate all of the documentation for a vessel’s order at the click of a button by using the HAZDASH agent, a smart feature which automatically generates and collates the required IHM documenta tion from the supplier’s HAZDASH catalogue.

Dionysios Konidaris, Head of the IHM Department at EPE said: “We are very pleased to launch HAZDASH and to offer customers a smart, intuitive and efficient IHM maintenance solution that supports robust IHM manage ment.

“To ensure regulatory compliance and that all hazardous materials onboard are correctly documented, it is essential that a vessel’s IHM is properly maintained. In the past there have been issues around obtaining IHM documentation, so EPE designed HAZDASH to offer shipowners and suppliers a platform which allows both sides to exchange information securely and ensure IHM-related orders and documents can be accessed and submitted with ease.”

Eleni Polychronopoulou, Executive Vice President at EPE said: “EPE prides itself on providing customers with solutions which not only support regulatory compliance and efficient vessel operations but protect the environment and ensure crew safety. Identifying, managing and accurately recording hazardous materials onboard are essential to ensure the health and safety of the crew and that the environment is protected throughout a vessel’s operational life and when the time comes for it to be recycled.”  EPE is a global leader in the provision of environmental solutions and services to the marine sector and has been defining standards in environ mental protection engineering since 1977. EPE has a proven track record for expertise in oil spill response and a reputation for innovation across a range of new environmental technologies. As an IHM service provider, EPE holds approvals from five Classification Societies and two Flag States.

PSYCTOTHERM : LEADING INNOVATION COOLING SYSTEMS FOR BWTS INSTALLATIONS

The last few months we have supplied more than 50 units with fully successful operation.

Using a marine specialized Air Cooled Split A/C Unit, you will have increased performance, efficiency and larger lifetime of the unit with loss maintenance and faults in comparison units.

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An A/C Packaged Type Unit with water (sea or fresh water) as coolant. An ideal solution for areas of the vessel with special cooling needs like Engine Control Room, Workshops or Kitchen.

Benefit with up to 28% Reduced Power Consumption and up to 18dBA Minimized noise.

Η συνολική συνεισφορά των Ποσειδωνίων 2022 στην ελληνική οικονομία υπολογίζεται σε πάνω από 70 εκατ. ευρώ, σε κατασκευές περιπτέρων, μεταφορές, συναντήσεις και εταιρικές εκδηλώσεις, διαμονή και εστίαση, φορολογικά έσοδα και άμεσες ξένες επενδύσεις.

«Είμαστε υπερήφανοι για αυτές τις επιδόσεις, που πιστοποιούν την επιθυμία μας να παράγουμε υψηλής ποιότητας, διεθνώς αναγνωρισμένες εκθέσεις με τις οποίες τα Ποσειδώνια έχουν γίνει συνώνυμο» δήλωσε ο Θεόδωρος Βώκος, Διευθύνων Σύμβουλος της Εκθέσεις Ποσειδώνια Α.Ε.

Bureau Veritas completes new study on ammonia as fuel

The joint preliminary study has evaluated the health and safety risks from ammonia leaks for crew and passengers and pinpointed key safety criteria, broadening the shipping industry’s understanding of ammonia as a marine fuel. So far, the study has examined different leak scenarios for single-wall and double-wall containment, as well as during bunkering operations – also providing key insights on the efficiency of ventilation and vapor processing systems, the size of safety zones needed, and the health risks to people exposed to leaks.

Ammonia is one of the main zero-carbon fuel options currently en visioned by shipping as the industry seeks to decarbonise. Because it burns without emitting CO2 and is zero-carbon “well-to-wake” when produced from renewable energy, it is a top contender among potential alternative fuels. However, ammonia presents several safety challenges, which must be addressed before it can be used on board ships. Ammonia is toxic to humans, and exposure beyond certain levels and durations can have serious health consequences for crew members and other people onboard. For ship owners and designers, therefore, a key challenge is to prevent accidental ammo nia leaks during ship operations and bunkering. To help de-risk ammonia as fuel, Bureau Veritas is building on a tried-and-tested approach that was used in the last decade to propel the development of LNG as fuel. BV’s Rule Note NR 671 was also used as a guideline, given its focus on preventing ammonia leaks and requirements for onboard vapor processing systems. As ammonia-powered engines and propulsion systems are still be ing developed, Bureau Veritas and TotalEnergies began by assess

ing what concentrations of ammonia in the air would be problemat ic, and compared those levels to LNG. The LNG-fueled tanker served as the model for the comparison, showing a stark contrast between the two fuels. LNG becomes dangerous at around 50,000 parts per million (ppm), while ammonia starts to have health effects above 30 ppm when permanently exposed, or around 300 ppm when exposed for one hour.

Based on this, Bureau Veritas noted that unless modifications are made to design, safety distances should be much greater for am monia than LNG. This confirmed the approach outlined in BV’s NR 671, which includes more stringent leak management on-board and vapor gas processing to avoid even small leaks reaching manned areas.

Laurent Leblanc, Senior Vice President Technical & Operations at Bureau Veritas Marine & Offshore, commented: “While further ex perimentation and analysis are required to reach definitive conclu sions, this preliminary study helped identify future areas to explore for de-risking ammonia as fuel. Additional tests could be performed for leak design scenarios, bunkering safety zones, bunkering ar rangements, and the effect of weather conditions, for example. “Until technology developments can eliminate ammonia leaks completely, leak mitigation and treatment remain the best course of action for ship owners and designers. Our preliminary study with TotalEnergies forms a strong basis for future industry collaboration. By pairing the right questions with the right tests, marine stakehold ers can begin the journey to de-risking ammonia as fuel, as they did for LNG.”

Bureau Veritas (BV), a world leader in testing, inspection and certification, carried out a study aiming at de-risking the use of ammonia as a marine fuel, with a specific focus on leak mitigation and treatment, in collaboration with the global multi-energy major TotalEnergies.

Στο τέλος της φετινής τελετής, ο Ιωάννης Α. Αγγελικούσης (1948-2021) και ο Πάυλος Ι. Ιωαννίδης (1924-2021) ανακοινώθηκαν ως οι δύο πρόσφατα Εισακτέοι στο Πάνθεον. Ανεβάζουν τον αριθμό των ιστορικών προσωπικοτήτων στο πάνθεον της ελληνικής ναυτιλίας στους 36. Η εκδήλωση του Πανθέου της Ελληνικής Ναυτιλίας υποστήριξε το φιλανθρωπικό οργανισμό για παιδιά Hellenic Hope με μια δωρεά, που παραδόθηκε στον Ανδρέα Μπούρα, Διευθύνοντα Σύμβουλο του Hellenic Hope που εργάζεται πιο δυνατούς ναυτικούς». Αν και οι προκλήσεις είναι διαφορετικές σήμερα, η ελληνική ναυτιλία «συνεχίζει να ευδοκιμεί γιατί είναι πάντα επικεντρωμένη στη μελλοντική δυναμική», είπε ο κ. Ξενακούδης. «Καθώς ο κόσμος αντιμετωπίζει τις προκλήσεις των σημερινών θαλασσών, η Marshall Islands – όπως και οι αρχαίοι πρόγονοί μας – επικεντρώνεται στο μονοπάτι εμπρός της». Ο Wang Qi, Πρόεδρος της Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS), απευθύνθηκε στο κοινό μέσω ενός βιντεοσκοπημένου μηνύματος, αναφέροντας την επιστροφή στην κανονική ζωή στη Σαγκάη μετά την πανδημία. Η παραγωγή SWS έχει ήδη επιστρέψει στην κανονικότητα, με ελάχιστη διακοπή στο πρόγραμμα νεότευκτων πλοίων της, που περιλαμβάνει το πρώτο μεγάλο κρουαζιερόπλοιο που κατασκευάστηκε στην Κίνα και το πρώτο πλοίο μεταφοράς χύδην Newcastlemax διπλού καυσίμου. Είπε: «Η SWS είναι πολύ χαρούμενη που συνεχίζει την υποστήριξή της στο Πάνθεον της Ελληνικής Ναυτιλίας ως Lead Χορηγός της φετινής Τελετής Εισαγωγής και Δείπνου 2022. Αυτή η σημαντική περίσταση μας δίνει τη μοναδική ευκαιρία να χαιρετίσουμε όλους σας και να ευχηθούμε μια υπέροχη βραδιά με αφορμή την εισαγωγή των εξαιρετικών προσωπικοτήτων της ιστορίας της ελληνικής ναυτιλίας». Η TMS, ένας από τους μεγαλύτερους ναυτιλιακούς ομίλους της Ελλάδας, συνέχισε ευγενικά την υποστήριξή

Tsakos Energy Navigation shuttle tanker “PORTO” delivered with DNV class

In a recent ceremony held at Daehan Shipbuilding Co. Ltd in Korea., Greek Tsakos Columbia Shipmanagement (TCM), took delivery of PORTO, its latest newbuild shuttle tanker. This is the30th DNV-classed vessel owned by TSAKOS Group.

including Petrobras latest requirements, industry requirements, tech nical rigidity and integrity, enhanced characteristics, and first-class equipment.

M/T Porto, DNV Class 1A Tanker for oil ESP, CSR, E0, DYNPOS-AUTR, BOW LOADING, NAUT-OC, BIS, TMON, COAT-PSPC(B, C), CMON, LCS, Clean, BWM(T), VCS(2B), SPM, Recyclable, main features is that she is equipped with M/E Hyundai MAN B&W 6G70ME-C10.5 MCR 15,300 kW @ 70.8 rpm, NCR 10,670 kW @ 62,7 rpm NOx Tier III: EGR LS (0.1%), 18 MW in total capacity of six (6) D/Gs, five (5) thrusters plus CPP propeller, high-lift type rudder, DARPS/ telemetry/sporttrack Position Reference System, K-Chief 700 Navigation system and she is considered the forerunner of our DP 2 vessels and we appreciate Class DNV technical contribution, strict and fruitful supervision led to the delivery of a vessel which will dominate in the most competi tive environment.”, said Mr. Vassileios Papageorgiou, Vice Chairman of Tsakos Group.

The 154,846 dwt shuttle tanker, registered with Maltese flag, is the first of the five DNV-classed newbuilds contracted to Daehan Shipbuilding, and the first shuttle tanker built in the yard. The vessel is equipped with an azimuth maneuvering thruster, supporting the Dynamic positioning (DP) of the vessel which is an essential com ponent in today’s shuttle tanker technology to maintain the tanker in position in harsh weather conditions.

“We are very proud to welcome in our fleet our DP2 Suezmax DWT 154,846.6 mt M/T Porto constructed at Daehan Shipbuilding Co. Ltd., under DNV supervision, and delivered on July 6th, 2022. For Tsakos Group, the delivery of M/T Porto, the fourth (4) DP vessel of our fleet, is a pride-filled moment, since she is built with high-quality standards,

Mr. Ioannis Chiotopoulos, Senior Vice President – Regional Manager SE Europe, Middle East & Africa, DNV Maritime, said: “All these years of close collaboration with Tsakos Group and DNV have forged a partnership that has grown from strength to strength. As a result of this relationship, we support our partner to deliver safe and forward-thinking projects. We welcome in our DNV family M/T PORTO, and we wish her plain sailings. We are equally thrilled to welcome in our class the four coming Aframax newbuildings, start being delivered from mid-2023, equipped with the latest environmen tal-friendly technologies. With the committed teamwork between Tsakos Group and DNV, we will continue to make the difference in the global maritime landscape.”.

“We are equally thrilled to welcome in our class the four coming Aframax newbuildings, start being delivered from mid-2023, equipped with the latest environmen tal-friendly technologies. With the commit ted teamwork between Tsakos Group and DNV, we will continue to make the difference in the global maritime landscape”

Ioannis Chiotopoulos, Senior Vice President – Regional Manager SE Europe, Middle East & Africa, DNV Maritime

Image caption: M/T PORTO

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DNV awards AiP for green ammonia floating production unit developed by H2 Carrier

An industrial scale concept for a floating production unit to produce green ammonia at sea has secured Approval in Principle (AiP) from DNV, affirming the technical feasibility of the design.

The so-called P2XFloater concept, developed by Norway-based H2 Carrier, is based on the conversion of an existing Very Large Gas Carrier into a floating, production, storage and offloading unit (FPSO) that can serve to produce environmentally friendly ammo nia for the local or for the world market.

The FPSO would source electricity from a wind farm or other renewable source to provide power for electrolysis of seawater to produce the hydrogen as input to the socalled Haber-Bosch process which produces liquid ammonia by combining hydrogen and nitrogen of under high pressure and high temperature. The required nitrogen would also be produced onboard the FPSO.

DNV’s Vice President, Business Development for Floating Production, Conn Fagan, said the AiP covers all aspects of the integrated vessel concept including structural integri ty, mooring, ammonia production, ammonia storage and cargo handling.

“The AiP assessment has looked at the technical challenges associated with offshore ammonia production and has concluded that there are no insurmountable difficulties to preclude future classification of the design,” said Fagan.

“For application of the concept in future projects, detailed engineering studies will of course need to be carried out with particular attention to addressing the hazards asso ciated with ammonia and hydrogen for a particular layout and location.”

“The innovative P2XFloater™ concept provides a low-cost, fasttrack and flexible solution to produce green ammonia on an industrial scale and at a competitive price. Market demand is rapidly increasing primarily due to the decarboni sation of the industrial and maritime sectors,” says Mårten Lunde, CEO of H2Carrier

AS. Mr. Lunde added: “We are very pleased to have been awarded the AiP from DNV, which is a significant technical milestone that gives us a springboard for further devel opment towards commercial realisation of this concept.”

Alfa Laval to acquire Scanjet

Alfa Laval has signed an agreement to acquire Scanjet, a leading global supplier of tank cleaning equipment and solutions for marine, offshore and industrial applications. The acquisition will extend Alfa Laval’s broad tanker offering, creating a more comprehensive product portfolio for car go tanks. Closing of the acquisition is expected during Q3 2022.

Scanjet’s intelligent tank management solutions will be a valuable complement to Alfa Laval’s sustainable marine offering as they reduce the water usage and energy consumption connected with tank cleaning. Adding Scanjet to Alfa Laval’s portfolio will support customer efficiency at every stage of cargo handling. Scanjet employs about 150 people and has global presence with factories in Swe den, Poland and Indonesia, and a turnover of about SEK 300 million (FY 2022FC). “I am pleased to announce this acquisition. Scanjet’s well-known and market-leading solutions for cargo tanks complement our existing Framo cargo pumping solutions for cargo handling. This gives us the ability to optimize tank management for our custom ers with an ambition to reduce their water and fuel consumption and ultimately their CO2 footprint,” says Sameer Kalra, President of the Marine Division.

“Alfa Laval is the ideal place for Scanjet’s journey to continue,” says Magnus Wallin, CEO of Scanjet. “Our companies have leading marine offerings that complement and strengthen each other. Above all, we share the ambition to exceed customer needs in full.”

Image Caption: The presentation ceremony during ONS 2022 (L to R): Erik Henriksen (Director of Busi ness Development - Offshore Classification, DNV) and Sebastian Kihle (Chief Technology Officer, H2Carrier)

Did you know… Alfa Laval delivered its first separator to a marine customer in 1917 and has since then con tinuously expanded its product portfolio. Today 3 out of 4 oceangoing vessels have Alfa Laval equipment onboard.

Ο Πρόεδρος της ΟΛΠ Α.Ε. κ. Yu Zenggang, ανέφερε: «Είμαστε πολύ υπερήφανοι που το Λιμάνι του Πειραιά συμπεριλαμβάνεται για τρίτη συνεχή χρονιά σε αυτόν τον σημαντικό παγκόσμιο

ναυτιλιακό δείκτη, ο οποίος παρέχει αντικειμενική και αμερόληπτη μέτρηση του επιπέδου ανάπτυξης, αλλά και της κατάστασης των διεθνών ναυτιλιακών κέντρων. Η κατάταξη του Πειραιά ανάμεσα στα 10 κορυφαία λιμενικά κέντρα στον κόσμο σηματοδοτεί για άλλη μια φορά ότι οι επενδύσεις των τελευταίων ετών, παράλληλα με την υλοποίηση μεγάλου αριθμού έργων που βασίζονται σε ένα ολοκληρωμένο σχέδιο αναβάθμισης και εκσυγχρονισμού του λιμανιού, κατάφεραν να αυξήσουν με επιτυχία την ανταγωνιστικότητά του σε παγκόσμιο επίπεδο μέσω της παροχής ενός μοναδικού συνδυασμού ολοκληρωμένων υπηρεσιών. Η διοίκηση και οι άνθρωποι του ΟΛΠ δεσμεύονται να συνεχίσουν με την ίδια αφοσίωση και υψηλό αίσθημα ευθύνης τη δυναμική πορεία βιώσιμης ανάπτυξης του Λιμένος Πειραιά. Αξίζει να σημειωθεί πως στις 11 Ιουλίου, πραγματοποιήθηκε δια ζώσης εκδήλωση στη Σαγκάη για τη δημοσίευση της ετήσιας έκθεσης, παράλληλα με διαδικτυακό σεμινάριο με διεθνή συμμετοχή. Κατά τη διάρκεια του σεμιναρίου η κα. Li Jin, Chief Financial Officer (CFO) της Οργανισμού Λιμένος Πειραιώς Α.Ε. και ο κ. Ηλίας Σαλπέας, Διευθύνων Σύμβουλος του Οργανισμού Ανάπτυξης του Δήμου Πειραιά, είχαν την ευκαιρία να μοιραστούν τις απόψεις τους για την ανάπτυξη της παγκόσμιας ναυτιλιακής βιομηχανίας.

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