NAFS JULY 2024 by NAFS magazine

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A. MARASLIS: General Average and the Onus of Proof

Establishing Seaworthiness in Marine Insurance

Decarbonizing Shipping: Insights from the ABS FuelEU Maritime Forum

Nasdaq salutes Posidonia 2024 and Greek shipping

POSIDONIA 2024 OPENS FOR BUSINESS

Alternative Fuels and Seafarer Upskilling Dominate Discussions at Greener Shipping Summit 2024

ABS Wavesight Announces Major Developments for My Digital Fleet Software

CAPITAL GAS, ERMA FIRST & BABCOCK COLLABORATE ON CARBON-FIT CCS SYSTEM FOR THE WORLD’S LARGEST LCO2 CARRIERS

“THE FUTURE OF SHIPPING”

KPMG

Aegean Protective Coatings S.A 35 Years of Excellence in the Greek Maritime Industry

Franman and International Maritime Industries (IMI) Sign Exclusive Agreement TO PROMOTE MRO AND NEW BUILD SERVICES FOR MENA’S BIGGEST SHIPYARD

TRANSFORMING VESSELS INTO FLOATING OFFICES

THE BUSINESS PERSPECTIVE

ARSENIOS PAPATHEODOROU: From Sea Enthusiast to Industry Innovator

Posidonia 2024 Venue Overflows Due to Unprecedented Exhibitor Demand

Ship Registries Flag Innovations at Posidonia 2024 Amidst Global Challenges and Opportunities

POSIDONIA 2024 SEES FLURY OF NEW BUSINESS DEALS

Posidonia 2024 Bids Farewell to Record Number of Participants, Renews Rendezvous for 2026

Greek Office Inaugurated! Headway continues Global Expansion of Low-Carbon Solutions

P. & N. Doukas Publications

Impacting fuel efficiency

Biofouling greatly impacts fuel consumption, increasing CO2 emissions. Operating with high performing antifouling systems and continuous monitoring of fuel consumption, fouling and speed loss keep track of your vessel’s condition, and can help you reduce fuel cost and carbon emissions.

The proven performance of Jotun Hull Performance Solutions can reduce fuel cost by as much as 14,7%.

Clean shipping commitment

Jotun established Hull Performance Solutions (HPS) in 2011 to make it easy for operators to maximise hull performance and thereby reduce both fuel costs and greenhouse gas emissions. The solution consists of Jotun’s advanced antifouling products, combined with a transparent method for measuring the impact of antifouling on vessel energy efficiency.

HPS consist of four key elements which work together to optimise performance:

• High performance antifoulings

• High-end technical service

• Performance analysis

• Performance guarantee

2030.

10 MARINE INSURANCE CORPORATE

General Average and the Onus of Proof Establishing Seaworthiness in Marine Insurance

Anastasios Maraslis Founder and President/Director of Marasco Marine Ltd

As a marine risks manager and marine claims consultant with 33 years of experience, I have seen numerous cases where the concept of general average plays a pivotal role in the maritime industry. General average is a principle under maritime law where all parties in a sea venture proportionally share any losses resulting from voluntary sacrifices of part of the ship or cargo to save the whole in an emergency. However, disputes often arise regarding the seaworthiness of a vessel at the commencement of the voyage, particularly when machinery damage occurs.

Understanding General Average

General average requires that the loss or damage must be voluntary and extraordinary, and it must be for the common safety of the ship, cargo, and crew. In such instances, in a (GA) General Average, various parties or interests involved in the maritime adventure share the losses incurred from voluntary sacrifices made for the common safety during an emergency. The key parties or interests that participate in a GA contribution include:

1.The shipowners: who contribute based on the value of the ship and any sacrifices or expenditures they incurred for the safety for the common safety.

2.The owners of the cargo: being transported by the vessel and they contribute based on the value of the cargo saved and

any sacrifices or expenditures made for the common safety.

3.Charterers: in case the charterer has an interest on the cargo may also be required to contribute to the GA based on the terms of the Charter party agreement.

4.Freight at Risk: The freight payable for the cargo being transported can also be considered as part of the General Average contribution. If the freight is at risk and has not yet been earned, it is included in the contribution.

5.Crew: Crew Wages and maintenance of the crew during the period of the GA act are considered GA expenses. These costs are incurred to maintain the safety of the vessel and cargo and are thus shared among all GA participants and are included in the GA adjustment, although the crew does not contribute financially to the GA. Their efforts are crucial to the common safety of the vessel and cargo and voyage.

The Onus of Proof: Seaworthiness of the Vessel

The onus of proof regarding the seaworthiness of a vessel at the commencement of the voyage lies primarily with the shipowner. Seaworthiness implies that the vessel is adequately equipped, manned, and maintained to safely undertake the intended voyage. This encompasses the vessel’s hull, machinery, and all necessary equipment.

In the case where cargo interests are alleging unseaworthiness to avoid paying their contribution to general average, the shipowner must demonstrate that the vessel was seaworthy when the voyage began. The fact that a vessel was classed and maintained under class before and after the machinery damage strengthens the owner’s position but is not conclusive proof on its own.

Establishing Seaworthiness: Key Points

Class Certification and Maintenance Records:

Presenting class certification and maintenance records is crucial. These documents show that the vessel was inspected and deemed fit for service by a recognized classification society. Regular maintenance and inspection logs can demonstrate ongoing compliance with safety and operational standards.

Machinery Inspection and Repairs:

Detailed logs of machinery inspections and any repairs conducted prior to the voyage are essential. These records can substanti-

ate that the machinery was in good working order at the start of the journey.

Crew Competence and Certification:

Proof of the crew’s qualifications and certifications, along with evidence of safety drills and operational training, can further establish the vessel’s seaworthiness. A well-trained and competent crew is a significant factor in maintaining seaworthiness.

Previous Cases and Precedents:

Citing previous cases where courts have ruled in favor of shipowners under similar circumstances can be persuasive. For example, in a very well known case, the court emphasized that regular class inspections and certifications were strong evidence of seaworthiness.

Expert Testimonies:

Obtaining expert testimonies from marine engineers, surveyors, and other relevant professionals can support the shipowner’s claim. Experts can provide independent assessments of the vessel’s condition and the adequacy of maintenance procedures.

In a landmark case the court held that a vessel which had been regularly inspected and certified by a classification society was presumed to be seaworthy. The burden of proof shifted to the cargo interests to demonstrate any specific deficiencies that could have rendered the vessel unseaworthy. This case underscores the importance of thorough documentation and adherence to class standards.

In disputes over general average contributions, establishing the seaworthiness of a vessel at the commencement of the voyage is paramount. Shipowners must meticulously maintain records and documentation to discharge their burden of proof. Class certifications, maintenance logs, machinery inspection reports, crew qualifications, and expert testimonies collectively form a robust defense against claims of unseaworthiness. By presenting comprehensive evidence and leveraging precedents like the case mentioned above, shipowners can effectively counter claims from cargo interests and ensure fair contributions to general average. Being proactive is part of Marasco Marine Ltd ‘s Risk Management and Risk Prevention Culture as it is always far more economical and time saving to maintain diligent records and act proactively managing your risks wisely by seeking expert guidance to navigate these complex waters successfully.

INMARSAT MARITIME

TRANSFORMING VESSELS INTO FLOATING OFFICES THE BUSINESS PERSPECTIVE

The transformation of ships into ‘floating offices’ emphasises the importance of ‘always-on’ and ‘secure-by-design’ connectivity to enhance maritime operations, says Inmarsat report ‘The Digital Wave’.

Published by Inmarsat Maritime, a Viasat company, The Digital Wave: Transforming vessels into floating offices and remote homes examines how crews and shore-based teams are using digital technologies today – and the connectivity they are relying on for both work and leisure time.

In compiling the report, Inmarsat surveyed approximately 60 ship owners and operators on their current and anticipated use of digital technologies. Among those surveyed, 83% said they anticipate a greater reliance on digital applications within the next five years. The adoption of continuous remote monitoring systems on ships alerts crews to potential equipment failures early, reducing downtime while helping to control excessive fuel consumption.

Additionally, cutting-edge technologies such as virtual reality, augmented reality, and artificial intelligence are being used alongside video conferencing to enable shore-based engineers to assist onboard personnel with equipment troubleshooting and maintenance. Ron Welles, C-Comm Manager at Edison Chouest Offshore, explained: “We have offices in Norway, Singapore, Louisiana, and Brazil, and getting everybody to pull up the same screen, look at the same information, and diagnose the problem on the vessel has been invaluable to us. We now probably do around 80% of our maintenance remotely without going to the vessel.”

As ships become more dependent on connected digital tools, they are increasingly functioning as ‘floating offices’ – a concept that sees a departure from the conventional maritime model in which vessels are operated and managed in isolation. In the floating office concept, onboard systems and processes are integrated with onshore and cloud-based infrastructure to enable the fast, uninterrupted flow of information between ship and shore.

“With significantly improved connectivity, vessels will become floating offices that are seamlessly integrated with IT systems on shore and in the cloud,” said Dr Dominik Pfeiffer, Director of Fleet IT at Hapag-Lloyd. “A reliable high-speed Internet connection will allow us to move critical IT functions like email or identity and access management to the cloud instead of maintaining it on all vessels. This will realise cost savings. Remote inspections by means of video streaming will partially replace costly travel to vessels. Furthermore, crews will gain access to the whole range of IT services that were hitherto only available on shore and will eventually share the same IT experience as their colleagues in the office.”

Always on, cyber secure by design

However, congestion in connectivity hotspots such as ports can impact the reliability of connectivity services. This is particularly critical as ships near shore and navigation becomes more complex, increasing the demand for bandwidth-intensive processes.

Ben Palmer President, Inmarsat Maritime

Of the ship owners and operators surveyed, 67% confirmed that their dependence on digital tools and applications increases as the vessel approaches shore, with 63% stating they rely more heavily on remote operations close to port where navigation is more complex.

“Since crews need critical applications at any given time to do their work, [connectivity] systems need to be always on,” added Dr Pfeiffer. “With these high-availability requirements in mind, we carefully observe the new high-speed products emerging in the market.”

Dr Pfeiffer’s position on ‘always-on’ vessel connectivity is shared by the vast majority of the survey respondents, with 93% describing the capacity to be connected at all times, without interruption, as extremely or very important.

Yet the more connected a vessel is to the outside world, the more vulnerable it is to cyber-attacks. When Inmarsat asked the ship owners and operators to rate on a scale of 1–10 the importance of cyber security to their operations, the average number chosen was 9, with 55% of respondents selecting 10 – ‘critically important’. Another requirement for modern onboard connectivity, therefore, is ‘secure by design’ – whereby network protection measures are integrated into systems during development.

A game-changer for maritime communications

As a response to the maritime industry’s evolving digitalisation

requirements – and an example of what Dr Pfeiffer terms “the new high-speed products emerging in the market” – Inmarsat’s NexusWave will facilitate the transformation of ships into seamlessly connected, high-performing floating offices.

The newly launched fully managed connectivity service is underpinned by a bonded multi-orbit network, integrating multiple highspeed networks in real time – Global Xpress Ka-band, low-Earth orbit services, and as-available coastal LTE – with an additional layer of L-band for resiliency – for fast, always-on connectivity. It also includes enterprise grade firewall security trusted by global enterprises and governments.

Delivered by a single provider as a unified solution, NexusWave offers complete transparency on total cost of ownership with no unexpected charges, meaning that vessels are reliably and securely connected to high-speed Internet at all times – even in hotspots close to shore or in busy shipping lanes.

“Designed to provide an unmatched experience in line with evolving customer requirements, NexusWave is a game-changer for maritime communications,” commented Ben Palmer, President, Inmarsat Maritime. “Enabled by high-speed connectivity, unlimited data, global coverage, and secure-by-design infrastructure, it delivers certainty ship owners, managers and operators need to transform their ships into floating offices and reap the rewards of digitalisation for optimised maritime operations.”

Decarbonizing Shipping Insights from the ABS FuelEU Maritime Forum

ABS successfully hosted the FuelEU Maritime Forum in Athens, attracting over 200 participants to discuss the latest regulatory developments and industry impacts.

Vassilios Kroustallis, ABS Senior Vice President of Global Business Development, opened the event by underscoring the importance of FuelEU Maritime, a regulatory initiative with significant potential impacts on the maritime industry. Kroustallis highlighted ABS’s role in assisting shipowners to prepare their fleets for compliance with the new regulations.

The forum began with a regulatory update from Ricardo Batista, European Commission Policy Officer, who provided attendees with a comprehensive analysis of FuelEU Maritime and outlined steps for compliance. Following this, Konstantinos Tsigaras, Coral A.E. Marine Manager, presented on “Alternative Fuels in the Port of Piraeus,” focusing on biofuels and their relevance to the regulation.

Kostas Theocharis, ABS Regulatory Engineer, discussed the regulatory process and demonstrated ABS’s FuelEU Maritime resources. Themis Vagiakos, ABS Growth and Development Sustainability Manager, introduced ABS solutions designed to support clients in meeting the new regulatory requirements.

The presentations were followed by a panel discussion moderated by Stamatis Fradelos, ABS Vice President of Regulatory Affairs. This industry-leading panel included Stavros Niotis, Prime Marine Chief Sustainability Officer; Prof. Michael Fan, TEN Ltd. Chief Technology and Innovation Officer; and Kenneth Dam, TFG Marine Executive Director and Global Head of Bunkering. The panelists shared their insights and perspectives on the practicalities and implications of FuelEU Maritime.

Rexroth FIVA Valve – core components for optimum fuel consumption and low emissions

18 From Sea Enthusiast to Industry Innovator ARSENIOS PAPATHEODOROU

BPCO LTD, a dynamic player in the maritime industry, was born from a passion for the sea and a commitment to innovation. Founded by Arsenios

Papatheodorou with a rich background in mechanical engineering and leadership roles, BPCO LTD aims to be the ultimate one-stop shop for all maritime needs. From ship repairs and cutting-edge technologies to environmental solutions, their comprehensive services ensure convenience, efficiency, and reliability for clients worldwide. Let’s dive deeper into their journey and offerings.

Embark on a journey with BPCO LTD, a pioneering force in the maritime industry. Discover the story behind the company’s founder, the vision driving its one-stop shop approach, and its commitment to innovation and sustainability. From navigating industry trends to fostering strong relationships, BPCO LTD sets sail towards a greener, more efficient future in maritime services.

Read the story...

What inspired you to enter the maritime industry and eventually establish BPCO LTD?

My passion for the maritime industry stems from a deep-rooted fascination with the sea and ships, which began at a young age.

From my early age I was onboard the vessels, together with my father. His love and dedication to the sea was the reason I focused on the marine industry.

Establishing BPCO LTD was a natural progression of my desire to create a company that not only meets the diverse needs of the shipping industry but also drives innovation and sustainability.

Can you tell us more about your background and career path leading up to the founding of BPCO LTD?

My career began with formal education in mechanical engineering, followed by hands-on experience on the technical department of various shipping companies, including shipbuilding, ship repair, and maritime logistics.

Over the years, I held several leadership positions that honed my understanding of the industry’s intricacies through well respected Shipping companies like TMS Tankers.

This diverse background provided me with the insights and expertise needed to establish BPCO LTD, with a vision of creating a comprehensive service provider for the maritime sector.

What are the primary services that BPCO LTD offers to the maritime industry?

BPCO LTD offers a wide range of services, including ship repairs, underwater services, retrofitting, and maintenance of Panasia Systems, supply of marine equipment and spare parts, and consultancy services for shipbuilding and environmental compliance throughout all new technological improvements . We also provide advanced technological solutions such as Carbon Capture Systems, AMP systems, Batteries System onboard, Rotor Sails, and SOx Scrubber Units, alongside traditional services like lifeboat servicing. We can support any owner from the newbuilding sector through the entire life of a vessel.

BPCO LTD aims to be a one-stop shop for the shipping industry. Can you elaborate on this vision and how it shapes the company’s operations?

BPCO’s vision as a one-stop shop is driven by our commitment to offer a full spectrum of services under one roof. This includes everything from ship repairs and maintenance to the provision of cutting-edge maritime technologies and environmental solutions.

By centralizing these services, we aim to provide our clients with convenience, efficiency, and reliability, ensuring that all their needs are met through a single point of contact.

What were the

key challenges

you faced while transforming this vision into reality?

Transforming our vision into reality involved several challenges, including building a diverse team of experts, establishing partnerships with key industry players, and continuously innovating to stay ahead of technological advancements. Additionally, a complex task was ensuring seamless coordination between different service offerings and simultaneously providing a cohesive and integrated solution to our clients.

Arsenios Papatheodorou CEO at BPCO LTD SHIPREPAIR BROKERS & DIONI SHIPMANAGEMENT

Are there any recent technological advancements in the maritime industry that BPCO LTD has adopted or is looking to adopt?

Yes, BPCO LTD is continuously adopting new technologies to stay at the forefront of the maritime industry. Recently, we have focused on Rotor Sails: Harnessing wind power to reduce fuel consumption and emissions, enhancing vessel efficiency. Carbon Capture Systems: Partnering with Panasia Systems Co to capture CO2 emissions from ship exhausts, significantly reducing environmental impact. As well as Alternative Marine Power (AMP) Systems and Battery Systems: Implementing AMP systems for shore power connection at ports and integrating battery systems on board to store energy, reducing fuel reliance and emissions.

These innovations highlight our commitment to sustainability and providing cutting-edge solutions for the maritime industry.

Maritime activities often have significant environmental impacts. How does BPCO LTD address sustainability and environmental responsibility?

BPCO LTD prioritizes sustainability by incorporating advanced technologies. These innovations help reduce emissions and improve energy efficiency, aligning with our commitment to greener shipping practices.

What are the major trends you see in the maritime industry today, and how is BPCO LTD adapting to these trends?

Major trends include the shift towards sustainable and energy-efficient technologies. BPCO LTD is staying ahead in promoting environmentally responsible maritime practices. We attend various environmental conferences and have ongoing cooperation with suppliers around the world pioneers in the shipping industry. These adjustments emphasize the importance of the technological advancements BPCO LTD is focusing on and their relevance to broader industry trends and sustainability goals.

COVER STORY CORPORATE

How has technology influenced the services you provide at BPCO LTD?

Technology has significantly enhanced our ability to provide efficient and innovative services. With our new integrated ERP system, we are able to provide the best and most competitive offers to our customers. Also focusing on the new technologies for instance, Carbon Capture Systems help us mitigate environmental impact by capturing CO2 emissions. Additionally, AMP s systems and battery systems enable us to offer sustainable power solutions both at sea and in port, further reducing reliance on traditional fuels.

How do you ensure that BPCO LTD maintains high levels of diversified services to meet the varied needs of your clients?

Maintaining high levels of diversified services involves continuous investment in training and development of our team, staying abreast of industry trends and technological advancements, and fostering strong relationships with our partners. We also prioritize feedback from our clients to constantly improve and expand our service offerings to meet their evolving needs. Our marketing department is working around the clock to focus on our customer needs and comments.

Can you share any specific initiatives or projects that BPCO LTD is involved in to promote greener shipping practices?

We are actively involved in projects that implement rotor sails and carbon capture systems on vessels to reduce emissions. Additionally, our AMP systems and onboard battery solutions are designed to provide sustainable power, further promoting our green shipping initiatives. We also manage to promote and inform our customers through technical conferenced which we are conducting in annual basis at SNFCC.

Where do you see BPCO LTD in the next five to ten years? What are your strategic goals for the future?

In the next five to ten years, I envision BPCO LTD as a global leader in maritime services, recognized for our innovation, sustainability, and customer-centric approach. Our strategic goals include expanding our global footprint, enhancing our technological capabilities, and continuing to lead the way in green shipping solutions. Our main goal is to always deliver the best possible outcome. We strike to achieve excellence.

As a leader, what is your management philosophy, and how do you motivate your team to achieve the company’s goals?

The management philosophy is centered on empowerment, collaboration, and continuous improvement. I believe in fostering a culture of open communication and mutual respect, where every team member feels valued and motivated to contribute to the company’s success. I encourage innovation and provide opportunities for professional growth to ensure that our team remains engaged and committed to achieving our goals.

Can you provide an example of a successful partnership or project that exemplifies the company’s commitment to excellence?

One notable example is our partnership with PANASIA with over 11 years of good cooperation, hundreds of orders for BWTS and SOx. Also, our new cooperation with Becker Marine Systems on the implementation of energy-saving devices (ESDs) is providing a good and solid cooperation and is enforcing our commitment to delivering high-quality, innovative solutions that meet the specific requirements of our clients. We couldn’t exclude our partners for so many years Power Research Inc, and our strong partnership for the delivery of Fuel Additives to all Greek Shipping Companies. At the end of the day, it all comes to the good and bad times that “keep the glue” together.

What has been the most challenging aspect of running BPCO LTD, and how did you overcome it?

The most challenging aspect has been navigating the complexities of the global maritime industry, particularly in terms of regulatory compliance and technological advancements. We overcame these challenges by investing in continuous learning and development, leveraging our network of industry experts, and maintaining a proactive approach to problem-solving.

How do you stay informed about the latest developments and innovations in the maritime sector?

Staying informed involves a combination of continuous education, attending industry conferences and seminars, participating in professional networks, and actively engaging with industry publications and research. This multifaceted approach ensures that we are always up-to-date with the latest trends and innovations in the maritime sector.

COVER STORY CORPORATE

How does BPCO LTD build and maintain strong relationships with its clients and partners?

Through our consistent communication, transparency, integrity, our solid based code of ethics, and the commitment to delivering exceptional service are the keys to maintaining our cooperation with our clients and partners. We prioritize understanding our clients’ needs and provide tailored solutions to meet those needs. Our collaborative approach with partners ensures mutual growth and success. Our goal is to maintain a secure and effective cooperation through the years to come.

Can you share any experiences or lessons learned from leading BPCO LTD that you believe would benefit other entrepreneurs in the maritime industry?

One key lesson I have learned throughout the years is the importance of adaptability and resilience in the face of challenges. The maritime industry is dynamic and often unpredictable, so being able to pivot and respond to changing circumstances is crucial. Additionally, building strong relationships with partners and stakeholders is essential for long-term success.

We noticed that you have MMHE Shipyard in your portfolio. How did you facilitate this changeover, and what are the initial results from this cooperation?

We have always enjoyed a strong partnership with MMHE Shipyard, built on mutual respect. It was mutually decided that a changeover was needed, and BPCO LTD was selected as the best representative due to our customer-centric approach. By promptly engaging with major Greek shipowners, we secured our first drydocks with vessels from major Shipowners. These vessels successfully entered drydock in a cost-efficient manner. This exemplifies BPCO LTD’s commitment to providing technical excellence with the best commercial support for our clients.

Can you share a particularly proud moment or significant achievement for BPCO LTD under your leadership?

A particularly proud moment was when BPCO LTD was recognized for our contributions to sustainable shipping practices at an international maritime conference. This recognition validated our efforts and reinforced our commitment to driving positive change in the industry. We value our customers and with our technical centered way of working we are able to achieve the best possible outcome.

What advice would you give to someone looking to start a business in the maritime industry?

My advice would be to focus on building a strong foundation of knowledge and expertise in the industry, stay abreast of technological and regulatory developments, and cultivate strong relationships with clients and partners. Persistence, adaptability, and a clear vision are key to navigating the challenges and achieving success in the maritime sector. Although we are a ship broking company and our aspect is commercial , our main way of handling is through our technical knowledge and experience.

Nasdaq salutes Posidonia 2024 and Greek shipping

Posidonia 2024 is a prestigious event which brings together industry leaders, experts, and enthusiasts from around the globe to discuss the latest trends, innovations, and challenges in Greek shipping

Nasdaq salutes Posidonia 2024 and Greek shipping, acknowledging the event’s worldwide reach and importance

From Greece to the world: One of the most prestigious financial institutions in the world acknowledged once again the worldwide importance of Posidonia 2024 and Greek shipping with the words: ‘Nasdaq Salutes Posidonia 2024 & Wishes All Participants Great Success! ‘.

The Nasdaq billboard is situated at the heart of New York’s iconic Times Square. This sought-after digital advertising billboard and one of the biggest in the world is sometimes referred to as the ‘Nasdaq Market Site Tower’. The tower is 930 square metres in size and rises 36.5 metres tall, ensuring visibility from a long distance with its imposing and prominent presence at one of the world’s most recognised landmarks.

TURN UNCERTAINTY

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Posidonia 2024 Venue Overflows Due to Unprecedented Exhibitor Demand

Over 2,000 companies from 82 countries to showcase maritime products and services at record-breaking ‘home of shipping’ event

Posidonia Exhibition 2024 started on Monday 3rd of June at the Athens Metropolitan Expo which was flooded with over 40,000 maritime professionals from around the world as the industry is convening once again to interact, network, share learnings of times past and foresights for what lies ahead.

Posidonia 2024 is the biggest in the biennial event’s six decades of existence with organisers confirming that 2,030 exhibitors from 82 countries showcased their offering indoors the expansive exhibition floor and in some outdoors areas of the venue to accommodate overwhelming demand.

“Posidonia 2024 will be larger in scale than ever before in the event’s history. Our needs have well exceeded the exhibition space, and it is now imperative to build additional exhibition halls. To accommodate exhibitors this year, we have also proceeded with outdoor booths,” said Theodore Vokos, Managing Director, Posidonia Exhibitions

S.A. Participation at the Posidonia Games, the sporting events which take place the

weekend before Posidonia, has skyrocketed and some 4,000 shipping professionals are expected to compete for the coveted Posidonia sailing, golf, soccer, basketball and running trophies.

“Both geopolitical turmoil in many parts of the world and the need for decarbonisation, along with corresponding environmental regulations, create a mix of challenges that the Greek shipping industry is called upon to address. This year’s increased participation in Posidonia reflects the industry’s need to come together, discuss new developments, and find ways to tackle the new environmental regulations head-on,” added Vokos.

This year’s Posidonia reflects the dynamism of Greek shipping, which has entered a continuous development trajectory aimed at the qualitative and technological upgrading of its vessels, as well as diversification of its overall product.

Of the 96 new or returning exhibitors, who have come back after a long absence,

25 are from Greece, demonstrating that the country has an inexhaustible source of equipment manufacturers and service providers for the shipping industry. Furthermore, from international participation, significant entries come from the United Arab Emirates with ten companies and India with eight companies. In addition, this year’s Posidonia hosts 23 national pavilions. The most significant increase was recorded by China, which, after the pandemic, returned stronger, with 180 companies, marking an almost 50% increase in participation. Following closely is Turkey, with a 10% increase.

The global nature of the exhibition is reflected this year in the largest participation of national registries ever recorded at the event. In total, 16 national flags are represented including Panama, Liberia, Marshall Islands, Cayman Islands, Hong Kong, Bahamas, Cyprus, Malta, Beliz, and Palau, as well as newcomers like the British Virgin Islands, Guinea-Bissau, San Marino, Sierra Leone, Barbados, St. Kitts & Nevis.

POSIDONIA 2024

Insular Policy

Minister of Maritime Affairs and Insular Policy, Christos Stylianides, said: “Shipping in Greece is an important driver of economic development and employment. Given its leading position in global shipping, our constant pursuit is to increase its contribution to the Greek economy to match its competitive position. And the successful organisation of Posidonia contributes substantially and decisively in this direction.”

Dr George Pateras, President, Hellenic Chamber of Shipping, commented: “This is a landmark year for Posidonia with over 2000 exhibitors from over 80 countries. This world-renowned exhibition does not only provide a platform for innovators to show their wares, but the perfect forum for the exchange of theories and ideas. This year sustainability will be the buzz word for all the networking huddles and along the corridors of power. Time to enjoy this extraordinary exhibition and the perfect hospitality of Greece and the Aegean.”

John C. Lyras, member of the Union of Greek Shipowners Board of Directors, said: “‘Greek Shipping’s successful entrepreneurial business model and tradition continues to secure the uninterrupted provision of essential cargoes to the world’s na-

tions at the lowest transportation cost. This success is reflected in the size and extent of the Posidonia Exhibition and associated activities comprising the foremost biennial event in the international shipping calendar. Greek Shipping is consequently well placed to meet the formidable and unprecedented challenges that climate change and decarbonisation present and calls upon the regulators and all stakeholders to properly consider the knowledge and experience Greek Shipping can provide in meeting these challenges optimally.”

Dimitris Karydis, Vice Mayor of Programming and Sustainable Development of the Municipality of Piraeus, speaking on behalf of Mayor Yiannis Moralis, said: “For us, it is important that one of the main matters to be highlighted at this year’s Posidonia is the new environmental rules for Shipping. Like every big city-port, Piraeus must deal with the matter of environmental pollution. This is a big challenge, and it is important that all stakeholders involved to collaborate in order tackle this issue even more urgently.”

The Posidonia Conference and Seminar programme had significantly expanded this year, featuring over 68 events organised

by entities from 16 countries. Consequently, and in synergy with pre-show sailing, soccer, basketball, golf, and running events, Posidonia 2024 extended over a two-week period to accommodate the multitude of activities and conferences leading up to the main event.

As a result, the revenue generated for the national economy is expected to exceed the Euro 80m mark, both due to the increased number of exhibitors and visitors, and because of the extended duration, further highlighting the significant contribution of the MICE (Meetings, Incentives, Conferences & Exhibitions) sector to tourism revenues.

Posidonia is the first exhibition in Greece to receive ISO certification as a sustainable event, underscoring the organisers’ commitment to minimising environmental impact and maximising economic benefits for the local economy and businesses.

Posidonia 2024 is organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.

Christos Stylianides Minister of Shipping &

Alfa Laval PureBallast 3 Ultra

A new era in ballast water management

NEW

As the retrofit market subsides, many BWMS manufacturers have withdrawn or face an uncertain future. Alfa Laval, by contrast, continues to evolve its leading UV technology and its offering to shipowners and shipyards. PureBallast 3 Ultra answers the needs of today’s ballast water management market – and also tomorrow’s.

• Superior performance in any waters and challenging conditions

• Minimized power consumption

• Easy installation with minimized footprint

• Delivered connectivity-ready

• Designed and supported for the whole vessel lifetime

POSIDONIA 2024 OPENS FOR BUSINESS

With a record number of exhibitors and a packed conference programme Posidonia’s 28th edition welcomes global maritime community to home of shipping

In the presence of Greek Prime Minister

Mr. Kyriakos Mitsotakis, Greek and international ministers, European officials and presidents of all major international shipping organisations, Posidonia 2024 was officially inaugurated during a ceremony held at the main conference hall of the Athens Metropolitan Expo.

Posidonia 2024 is the biggest in the biennial event’s six decades of existence with over 2,000 exhibitors from 82 countries and 23 national pavilions ready to showcase their offering on Posidonia’s exhibition floor, which proved too small to meet this year’s demand for space. Furthermore, a total of 68 maritime conferences, forums and seminars are scheduled to take place. Organisers were prepared to welcome at the venue more than 40,000 participants during the week ahead and say that Posidonia 2024 expected to generate some Euro 80 million revenue for the Greek economy mainly for the hospitality, MICE, transportation and F&B sectors.

Addressing representatives of Greek and international media as well as more than 800 senior leaders from the global maritime community who attended the opening ceremony, the Greek Prime Minister said: “There is no doubt that the field that you lead is facing changes that will determine the future or maritime transport. I want you to know that I will stand by your side in every battle that the Greek shipping industry will fight in order to enhance this value

chain, which is centered on our country: from the green transition to safe ports and from the rejuvenation of Greek shipyards to the infusion of our workforce with the skills that developments impel.”

And he added: “At a time when Europe is seeking to define the concept of strategic autonomy, the time has come for it to understand that shipping, European shipping, Greek shipping which constitutes the most significant force within European shipping, will play a crucial role in this strategic autonomy.”

On her part, Ms Melina Travlos, President of the Union of Greek Shipowners said: “Shipping is the backbone of humanity. It guarantees the survival, the subsistence, and the prosperity of the global community under any circumstances. A reality that has been so for millennia, but without true recognition of its profoundness and significance.”

She added: “Posidonia fosters the dialogue and the exchange of views, it generates business opportunities, and presents innovations and proposals that respond to the current situation and the demands of the global shipping community.”

On behalf of the organisers, Theodore Vokos, Managing Director, Posidonia Exhibitions S.A., said: “We often refer to the achievements of our industry as ‘the miracle of Greek shipping’. It is tempting to do so

when one tries to understand how a small nation of 12 million people can be home to the largest and most modern fleet in the world - over six thousand ocean going vessels, tankers, container ships, bulk carriers, and others, trading around the globe and keeping the world economy ticking.

“This ‘miracle’ originates in our country’s seafaring traditions, going back thousands of years, utilising the flexibility of the Greek family business and allowing innovation to grow while looking at a world without borders.”

He added: “As organisers of Posidonia, we are proud that through our exhibition, the sporting and social events and the many conferences and seminars, we are showcasing the achievements of shipping and the benefits it brings to Greece and to the wider world.”

POSIDONIA 2024 DAY 2 Shipping elite debates age of transition at prestigious Tradewinds Shipowners Forum

Navigating Regulatory Challenges: Industry Leaders Discuss Shadow Fleet, Decarbonisation and Prospects of Energy Shipping at Posidonia 2024

During a riveting opening panel session of the Tradewinds Shipowners Forum at Posidonia 2024, Harry Conway, Chair of the Marine Environment Protection Committee (MEPC) of the International Maritime Organisation (IMO), engaged in an in-depth discussion with senior representatives of the shipping industry on regulatory issues ranging from shadow fleets to alternative fuels.

“We should be concerned by dark fleet activity because of the safety of vessels and crew, as well as the protection of the marine environment. If elements within the industry circumvent the rules and regulations, we have a problem. Dark fleet vessels have no accountability because they operate under the radar; they don’t respect the rules, and the IMO is taking measures and actions to tackle the issue.”

Michael Parker, Global Industry Head of Shipping & Logistics at Citi, agreed that the problem is profound. He said, “I am concerned, but we have to call it out; we are at war, and until the war is over and issues are resolved, it won’t be easy to find solutions. The IMO is powerless to enforce various things to improve transparency unless others are willing to take more impactful steps. Sanctions are not proving to be effective, but I am optimistic that we are in an age of regulation and transparency, and climate change and data are going to drive positive change. It’s really a question of enforcement. We hope peace will bring the restoration of more normal behaviour. We cannot allow the creation of shadow fleets to happen again.”

Christopher J. Wiernicki, Chairman and CEO of ABS, said that the industry is in the

early innings of a decade of uncertainty. “A new age of safety, commercial compliance, and government accountabilities is here. This is a shared responsibility; the onus should not be just on the commercial side. The shadow fleet is a matter of concern. It has a different perspective compared to the rest of us; they have old vessels, poor inspections, lack insurance, and are riddled with mechanical failures and oil spills, which they simply regard as collateral damage. But as we move forward, environmental regulations are going to be global shipping shapers, so as we move forward, environmental regulations will be a big part of commercial decision-making.”

Wiernicki added, “Our industry is divided into three types: the leaders who are taking decisions and placing bets today; then we have the fast followers, those doing some

POSIDONIA 2024

piloting and experimenting around fuels; and we have the very many who are actually doing nothing, waiting to see what will happen.”

In response to his remarks, Dr Conway said that there is indeed a greater sense of a common mission, even though there is still a polarisation between those who act and those who aren’t doing so much.

On the themes of decarbonisation and alternative fuels, the shipping industry seems to be in unison around the main challenges it is facing and the necessity of effective and impactful incentivisation policies for the energy transition in maritime to be successful.

“If the carbon cost is passed onto the supply chain and then to consumers, we are not making any progress toward shipping decarbonisation; instead, we should be using proceeds from the EU ETS to subsidise the industry in our quest to decarbonise. Other incentives could include the reduction of waiting times at ports for vessels that are more energy-efficient,” said Charis Plakantonaki, Chief Strategy Officer, Star Bulk Carriers Corp. “We need the IMO to provide more clarity on the measures they are planning and what the impact on our industry will be.”

Dr Conway concluded, “Clarity, pragmatism, uncertainty, shared responsibility – these are the key words of the industry, and these are the things we at the IMO strive to provide. The clarity the industry is craving

is our priority as we study a lot of proposals on the table, each having its own implications for the transition, which is not going to be cheap. We have done comprehensive impact assessments, and come September, we will be able to make informed decisions as we try to provide the certainty the industry needs to make the right investment decisions.”

The scene for the decarbonisation discussion was set earlier in the opening session of the Tradewinds event by Clarkson Research Managing Director, Stephen Gordon, who highlighted that shipping is responsible for about 2% of global emissions, while it is also the most carbon-efficient mode of transportation. “Significant fleet renewal and alternative fuels are needed, but also retrofitting technology and slower speeds in a multi-layered approach.”

The conference also addressed the future of energy shipping, which globally accounts for 38 percent of shipping volumes, and in Greece is even higher, reaching almost 50 percent. As peak oil remains at least a decade away, with other estimates projecting it much further into the future, Evangelos Marinakis, Chairman & Founder of Capital Maritime & Trading Corp., who controls a fleet of more than ten million deadweight tons, is optimistic about the future of energy shipping. This optimism is fuelled by continuous global population growth and the ongoing modernization of the developing world. “We bet on what happened yesterday, what is happening today, and what is

likely to happen tomorrow,” he said. “We see that the world’s population is increasing, and as countries develop, electricity needs rise, driving up demand. We also see that Artificial Intelligence (AI) demands increasingly more power, which will further contribute to the sustainable demand for oil and gas. Of course, geopolitical tensions and developments always play their part. With current events in the Red Sea and the potential for conflict between the USA and China, anything could happen.”

Regarding geopolitical factors, Paolo Enoizi, CEO of Hafnia, stated: “We believe that recent geopolitical events have clearly reset the perspective towards oil and gas. Many charterers and final users appreciate how quickly they can divert vessels to target different markets based on needs and opportunities. It’s all about how we create more value.”

Andrian Dacy, CEO & CIO of J.P. Morgan Asset Management’s Global Transportation Group, added: “There is a lot of connectivity between today and tomorrow. We can’t ignore today when planning for the future. It comes down to the current consumption of crude oil and gas and the likely reserves, which we believe will last for at least fifty more years, give or take. With renewables in the mix, it could probably be 60 years. The takeaway is that the advent of renewables is not happening quickly enough to account for the additional demand for power created by AI, which is going to be the biggest energy consumer.”

PHOTO NAFS

POSIDONIA 2024 DAY 3

Ship Registries Flag Innovations at Posidonia 2024 Amidst Global Challenges and Opportunities

Sixteen ship registries from across the globe are participating in Posidonia 2024 to showcase their innovations and competitive strategies. These registries aim to navigate the complex and evolving landscape of the international shipping industry, addressing challenges related to sanctions, financial pressures, safety, and new environmental regulations.”

“Sanctions compliance, fleet monitoring, and enforcement of all the IMO instruments are the main challenges we are currently facing,” said Gianluca Tucci, General Director of the San Marino Registry, a brand-new player which chose Posidonia 2024 as the launching pad for its merchant vessel offering.

Over the past few years, increased sanctions have placed a growing burden on ship registries. Flags and classification societies have responded by suspending and removing more ships and operators from their ranks.

To prevent “flag hopping” and other deceitful

practices, leading international flags like the Panama Maritime Authority, the Liberian Registry, and the Marshall Islands Registry have agreements for the exchange of information.

“Vessels change flags due to various reasons, so it is important for the registries like us to have a cooperation with other peers to ensure that the owners we are dealing with are credible and of a high-quality standard. This exchange of information can be very helpful especially with the proliferation of the shadow fleet,” said Carla Elena Peralta, a spokeswoman on behalf of Panama Maritime Authority

Furthermore, shifting markets and supply chains have increased financial pressures on ship operators. As a result, there has been a rise in abandonments and lax compliance with safety regulations.

“The dynamic nature of ship registration also renders the necessity to upgrade, improve, and respond to changing demands of the market a necessity for survival,” said

Dr. Ivan Tabone, Registrar General, Malta Ship Registry

In addition, some advocate eliminating the concept of ship nationality altogether, which would shift the responsibility of supervision and enforcement away from flag registries. To stay ahead of developments and improve their competitiveness, flag registries are introducing various initiatives in the areas of Digitalization and Blockchain to streamline processes, improve transparency, and enhance security.

“We must stress the use of new technologies by applying digitalized services in addition to implementing the best working conditions for all seafarers without forgetting the environment and the shift to decarbonize shipping,” said Richard Medawar, Deputy General Ships Registrar of Guinea Bissau International. The Registry is making its Posidonia debut this year as an exhibitor to promote its brand and services and communicate its added values and strengths to a broader audience of marine

industry professionals and network with existing and potential new customers.

The digital transformation wave is spearheading flag registries’ efforts to reduce red tape as an enabler for a more seamless vessel registration process. At Posidonia 2024, the Greek flag launched a new application for the digitization of the application for registration and granting of a document of nationality of Greek seagoing vessels, niologio.gov.gr. The new application, which is a perennial request of the shipping community, reduces bureaucracy and speeds up registration procedures, strengthening the competitiveness of the Greek flag. Thanks to the digitization of the entire process, the ship’s nationality document, which carries a unique QR Code for immediate verification of its authenticity by any competent authority around the world, is automatically generated and granted directly to the ship-owning company.

Panama Maritime Authority is also in the process to launch a platform and an app to facilitate online vessel registration process according to Peralta.

Palau International Ship Registry (PISR) digitalised its registration process before the pandemic and is now offering a full range of online services and applications, along with full Electronic Certification that enables it to provide smooth, faster, efficient and cost-effective services.

PISR’s CEO Panos Kirnidis said: “One of the key advantages of PISR is our in-house Deficiency Prevention System (DPS), which ensures that vessels comply with international conventions, rules and regulations. DPS is fully administrated by PISR with the main objective to introduce a more preventive and risk-based approach to targeted

POSIDONIA 2024

ships for inspection and to enhance quality status on PISR vessels.

Flag registries are also focusing on green issues, emphasizing their environmental compliance and sustainability strategies by offering incentives for eco-friendly practices, such as reduced fees for vessels meeting emission standards or using alternative fuels.

For example, the British Virgin Islands Registry (BVI), better known for its yachting offering, is developing a comprehensive policy spanning various ministries to incentivize green shipping practices, benefiting ship registration, port calls, and beyond. The exotic Registry is strategically expanding its global presence with plans to establish offices in the Mediterranean, Dubai, Singapore, and Florida and is eager to forge partnerships with the green propulsion technology industry, aligning with its commitment to fostering cleaner seas through mutually beneficial associations. John Samuel, Director, said: “We return to Posidonia for the ninth time this summer to meet potential clients from the merchant marine community and promote the flag’s commitment to green shipping.”

International cooperation between them, port authorities, and other maritime bodies is also another area of focus for flag registries, as part of their contribution to a more cohesive and competitive global maritime ecosystem.

“Although cost matters are always at the forefront of customers’ consideration, flag selection goes well beyond that,” added Dr. Ivan Tabone. “One of the major challenges of all major international ship registries is the ability to strike the right balance

between addressing the needs of our customers without compromising the quality of service provided and compliance with the applicable regulations and standards.”

On the issue of ship registration fees and the annual tonnage charge (ATC), the Hong Kong Ship Registry (HKSR) is offering waivers for the first year of ship registration for applicable ships newly registered with HKSR. “To enhance the competitiveness of HKSR and provide greater facilitation for shipowners, we will continue to enhance our ship registration services and suitably employ digitalization to facilitate the process of ship registration,” said S.F. Wong, Director of Marine. “Our policy as a special administrative region is not to seek any profit from ship registration fees, and most services are provided on a cost-recovery basis.”

The following flag registries are exhibiting at this year’s Posidonia: Bahamas Maritime Authority, Barbados Maritime Ship Registry, Cayman Registry, Croatian Register of Shipping, Cyprus Shipping Deputy Ministry, Hong Kong Shipping Registry, International Merchant Marine Registry of Belize (IMMARBE), IRI / The Marshall Islands Registry, Liberian Registry, Maritime Malta, Guinea Bissau, Palau International Ship Registry, Panama Maritime Authority, San Marino Ship Register, Sierra Leone Maritime Administration, St. Kitts & Nevis International Ship Registry, and Virgin Islands Shipping Registry.

POSIDONIA 2024 DAY 4

Alternative Fuels and Seafarer Upskilling Dominate Discussions at Greener Shipping Summit 2024

Alternative fuels and seafarer upskilling took centre stage at the ‘Greener Shipping Summit 2024’ held at Posidonia 2024 this week. Under the theme ‘New Technologies and Education’, the thought-provoking summit was organised by Newsfront/Naftiliaki and supported by MARTECMA (Marine Technical Managers Association).

Panel discussions shared insights on topics spanning technology, new shipping professions, energy transition, digitalisation, training and education onboard, marine education, and many more.

Dimitris Fafalios, Chairman of INTERCARGO, keynoted the event. He said: “We cannot achieve the IMO goals without safety. Shipping is an extremely broad term covering many sectors: Dry Bulk, Tankers, Gas Carriers, Ro-Ros, Car Carriers, Ferries, Cruise Ships, and more. Shipping, however, can be divided into two basic economic models. The first is Liners, and the second is Tramp/ Bulk, which includes all solid, liquid, and gas bulk carriers. To develop the right regulations for decarbonisation and safety, we must help our regulators to understand the fundamental difference between shipping’s two basic economic models.

“In order to achieve decarbonisation, our industry needs a plentiful supply of truly ‘green’ alternative fuels which are safe,” he added.

Kostas Spyrou, Professor at the School of Naval Architecture and Marine Engineering, National Technical University of Athens, said: “It’s hard to imagine the vessel of the future because everything depends on certain factors that can influence the direction technology will take. We can’t be sure what will happen in 15 years, but greener propulsion broadly is the direction. Data is another big friend helping us monitor the behaviour of our ships and, in the future, this will become even more important. I also see increased levels of autonomy as an emerging trend.”

The challenge of having to train an estimated half a million seafarers to handle the alternative fuels that will power fleets around the world was hotly debated, with panellists and the audience engaging in a constructive debate. Contentious issues included the number of seafarers who will require training, the number of trainers and methods to do so, and whether upskilling would be a prerequisite for the energy transition, given that the shift from steam to diesel had not required extensive upskilling programmes in the past.

According to Fafalios, hundreds of thousands of seafarers around the world will need retraining to handle the new fuels and technologies necessary to push the decarbonisation of shipping forward,

and that figure excludes shore-side staff who are also vital to the safe and green operations of fleets worldwide.

Natassa Kouvertari, Project Manager at the Maritime Decarbonisation Hub, Lloyd’s Register, put the number of seafarers who will require training to safely handle alternative fuels at up to 800,000. “Global naval education is not a dream, but it needs to happen gradually across various levels and clusters. It cannot happen overnight. Decarbonisation and digitalisation are two areas of shipping where upskilling, hard skilling, and meta-skilling will play an important role for the safety of our crews and vessels. Many training, learning, and development programmes are already in place, and the IMO will eventually mandate a curriculum for global adoption.”

Spyrou added: “We need to make teaching a bit more motivating for the trainees and the trainers. Digital skills are a priority at both academy level and in the retraining of those already in a career. Sustainability is also an important subject that seafarers need to be educated on. Management skills training is also very important, helping seafarers assimilate information and make the right choices when onboard.”

Spyrou went on to say that a big gap exists in Greece on the issue of partnerships between educational institutions and the shipping industry. “We don’t have partnerships between the industry and educational institutions in Greece, unlike what is happening in Norway, where joint partnerships between academia and shipping proliferate. In Greece, we need to build more stable and concrete structures and systems to facilitate this type of collaboration because there is no formal manner to connect the industry with academia.”

During a separate panel discussion later in the day the issue of alternative fuels cost was in focus, with Technical Director of Star Bulk Carriers Corp. Fotis Belexis noting: “The cost of alternative fuels will be two or three times higher compared to fossil fuels, and that’s very important considering that the highest operational cost of a vessel is the actual fuel it uses. We should also understand that once these alternative fuels finally become available, shipping will be competing with other industries such as aviation in order to secure the required supplies; and that will also drive prices even higher.”

Posidonia 2024 is organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping, and the Union of Greek Shipowners, with the support of the Municipality of Piraeus and the Greek Shipping Cooperation Committee.

POSIDONIA 2024 DAY 5

POSIDONIA 2024 SEES FLURY OF NEW BUSINESS DEALS

AS SHIPPING INDUSTRY MAKES STATEMENT OF INTENT IN A BOOST FOR GLOBAL TRADE AND ECONOMIC GROWTH

The 28th edition of the biennial Posidonia Exhibition came to an end proving once again that it is the most sought-after event to conduct business and set the policy agenda for an industry that controls over 80% of the world trade and is projected to be worth $4.2 trillion by 2031, growing at a CAGR of 7% till 2031.

The eagerly anticipated Press Conference of the Union of Greek Shipowners (UGS), held every two years at Posidonia, was the icing on the cake of an incredibly busy programme of 68 shipping star-studded conferences and seminars during the exhibition’s five-day span.

The UGS Press Conference was led by Melina Travlos, President of the UGS, the Vice-Presidents, Michael D. Chandris and Andonis T. N. Lemos, the Secretary, Dimitrios J. Fafalios, the Treasurer, John A. Xylas and the Member of the BoD, John C. Lyras

Addressing representatives of Greek and international media, Ms Melina Travlos answered to questions about the current challenges of the shipping sector and focused on the issues of maritime education in Greece, decarbonisation and the strategies for the sustainability of the industry, as well as the strong social footprint of the Union of Greek Shipowners.

Records also broke on the exhibition floor where organisers saw an increase of some 4% in exhibiting companies compared to the previous edition and a significant rise of over 10% in the number of visitors who are expected to tally up to a total of over 30.000.

Business was booming also during the event with major maritime industry players coming together to finalise significant deals such as the Atlas Maritime order for another pair of Suezmax vessels to DH Shipbuilding in South Korea in a move that

will bring Leon Patitsas’ current orderbook above the $2 billion mark.

ONEX Group signed an agreement with leading international tug design company Robert Allan for a production line of 30 tugs worth 280 million euros, with at least 20 of them to be completed by 2026, in a strategic cooperation slated to change the landscape in the Greek market, as the exclusive rights for the construction of a specific series of tugs in the country are granted to the ONEX Group.

Two South Korean companies, KR and HD Hyundai signed a MoU to collaborate on the pilot project of a cloud-based next-generation smart ship solution (ISS 2.0) developed by HD Hyundai. This project aims to equip and demonstrate next-generation smart ship solutions on vessels. KR plans to conduct technical reviews based on classification rules as well as domestic and international regulations, verifying the

POSIDONIA 2024

suitability of the next-generation smart ship solutions

Also, Evangelos Marinakis, founder of Capital Maritime & Trading Corp, celebrated an order for six LNG dual-fuel-capable Very Large Crude Carriers (VLCCs) with the Chinese shipyard CSSC. This move highlights his significant investment in dual-fuel technology, positioning Capital Maritime as a leader in environmentally friendly shipping solutions.

Still at Posidonia 2024, classification society Lloyd’s Register and Guangzhou Shipyard International (GSI) signed a joint development project for the design of the world’s largest very large ammonia carrier (VLAC). Carrying capacity of 100,000 cu m, the vessel will feature an independent IMO type B tank for the safe storage of ammonia which is expected to optimise its operational efficiency.

In addition, Athens-based Franman announced its appointment by Saudi Arabia’s International Maritime Industries (IMI) as the exclusive agent for Greece and Cyprus. This agreement makes Franman the sole agent responsible for promoting IMI’s Maintenance, Repair & Overhaul (MRO) business to potential clients based in the two markets.

Saudi Arabia’s SIRC and Hellenic Environmental Center S.A. (HEC) signed an

agreement to strengthen SIRC’s commitment to sustainability in marine management.

Classification society DNV and Artemis Technologies Ltd signed a new memorandum of understanding (MOU) on the development, certification, and operation of electric foiling vessels, while Lloyd’s Register (LR) and Guangzhou Shipyard International (GSI) signed a joint development project (JDP) for the design of the world’s largest VLAC (Very Large Ammonia Carrier) with a carrying capacity of 100,000 cbm.

ABS also signed an MoU with HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE); HD Hyundai Heavy Industries, Co., Ltd. (HHI); and the Liberian International Ship & Corporate Registry (LISCR) to collaborate on the application of artificial intelligence (AI) to eliminate ship safety blind spots.

MAN Energy Solutions signed a MoU with Eastern Pacific Shipping (EPS) on the development of crew training for the handling of ammonia as fuel on vessels.

And CAPITAL GAS, ERMA FIRST, and BABCOCK have signed a Letter of Intent

(LoI) for the installation of an innovative Carbon Capture and Storage (CCS) system, CARBON FIT, on four new liquefied carbon dioxide (LCO2) transport ships.

Theodore Vokos, Managing Director, Posidonia Exhibitions S.A., said: “Posidonia has once again proven to be a crucial platform for business deal-making, fostering connections and collaborations that drive the maritime industry forward. It has become a cliché but this year’s Posidonia has undoubtedly been the most successful in its history. The innovations showcased on the exhibition floor were truly ground-breaking, and the knowledge shared during the various conferences and seminars was exceptionally inspirational. The volume and quality of our visitors exceeded all expectations, making the event an extraordinary success. It’s exhilarating to return with such a positive impact. We are profoundly thankful for the unwavering support of the global maritime community.”

Posidonia 2024 was organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.

PHOTO NAFS

United Nations Conference on Trade and Development (UNCTAD),

Dr. Jan Hoffmann, Head Trade and Logistics Branch, καθώς

World Bank

Maximilian Weidenhammer, Consultant in Decarbonising Maritime Transport και

Simona Sulikova, Consultant in Decarbonising Maritime Transport

POSIDONIA 2024

TAD, της βάσης δεδομένων PortWatch του Διεθνούς Νομισματικού

Ταμείου, η οποία αποθηκεύει δεδομένα από 1469 λιμένες, της

βάσης δεδομένων Global Trade Analysis Project, της βάσης

δεδομένων των Ηνωμένων Εθνών Big Data Platform, η οποία

αντλεί στοιχεία από το δορυφορικό σύστημα ExactEarth, και της ετήσιας Έκθεσης Επιθεώρησης Ναυτιλιακού Εμπορίου της UNCTAD.

POSIDONIA 2024

ανθρώπους της θάλασσας, της ναυτιλίας, στους ανθρώπους μας.

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Unithai Shipyard and Engineering (UTSE) strategically located within the deep sea port of Laem Chabang, closed to Bangkok, Ko Si Chang and Map Ta Phut port, which is at the heart of Thailand’s chemical and oil tankers, container, dry bulk, car and oﬀshore trades. Our accomplished team are committed to the highest level of quality with a capacity to repair more than a hundred vessels per year.

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Land area 688,000 m2

Unithai 2 191 x 34.4 m Upto 50,000 DWT

Land area 688,000 m2

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Unithai 3 300 x 49.6 m Upto 180,000 DWT

Unithai 2 191 x 34.4 m Upto 50,000 DWT

Quay 380 m, 1 x 45 t crane

Floating Crane, 1 x 100 t

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Location: 48 Moo 3 Tambon Tungsukhla, Sriracha District, Chonburi 20230, Thailand

Email: sbd.marketing@unithai.com Web : www.unithai.com

Phone : +66 65 510 5559

POSIDONIA 2024 CLOSING

Posidonia 2024 Bids Farewell to Record Number of Participants, Renews Rendezvous for 2026

2,038 exhibitors from 81 countries present at biggest ever Posidonia

Posidonia 2024 has already gone down in history as the best-attended in the biennial event’s 55 years of existence, and organisers are already busy receiving enquiries and pre-registration applications for the next event, scheduled for 1-5 June 2026.

Having broken all previous records in terms of exhibition space, number of exhibitors and visitors, Posidonia 2024 was also the place where the maritime world came together once again to finalise and confirm highly lucrative new business deals or announce previously signed contracts. One such occasion was the showstopper announcement of Navig8’s tanker fleet and pool business being taken over by ADNOC L&S in a reported $1.5bn deal that was made public during Posidonia 2024.

Theodore Vokos, Managing Director of Posidonia Exhibitions S.A., said: “It is humbling to witness such a strong response to Posidonia 2024 by the global shipping and maritime community. Every sector of the marine economy and all shipping associations gathered once again in high volumes and high spirits to showcase innovations, network, do business, discuss, and debate the future

of the industry. From shipyards to shipowners, ship registries to ship chandlers, classification societies, propulsion system manufacturers, energy providers, software developers, trading, brokerage, legal, consultancy, and financing firms, everyone was here again for two weeks to work and play in true Posidonia fashion.” Exhibitor comments came flooding in soon after the gates at the Athens Metropolitan Expo closed behind the last remaining participants of Posidonia 2024. A total of 32,527 visitors from 130 countries and territories attended the event, an increase of 12% compared to Posidonia 2022. Many of them were full of praise for the organisation of the event, the quality of visitors, and the networking and knowledge-sharing opportunities it offered. A total of 81 countries and territories from around the world exhibited with the majority coming from Europe and Asia, but this time there was also an increased participation from the Americas.

Alessandro Segabinazzi, Head of Commercial Sector, Embassy of Brazil in Athens said: “Brazil was represented at Posidonia 2024 by the Brazilian Association of Ship Suppliers and Services (ABFN) with 16 of its 33 members participating in the fair. Posidonia

POSIDONIA 2024

allowed ABFN-associated companies to exhibit their expertise to a highly qualified international audience, broadening business prospects, fostering new partnerships, and solidifying commercial ties with strategic global entities. Moreover, it enabled Brazilian participants to stay updated on the latest industry trends, innovations, and challenges, crucial for maintaining competitiveness in this dynamic sector. Events like Posidonia play a pivotal role in fostering international collaboration, knowledge exchange, and the formation of enduring partnerships that drive the industry’s growth and innovation.”

Nineteen thousand kilometres away from Brazil, the Micronesian archipelago of Palau was also present in Posidonia 2024. Panos Kirnidis, CEO of Palau International Ship Registry, said: “Our participation in Posidonia offers a significant opportunity for us to engage with ship owners, managers, operators, and other stakeholders in the maritime sector. Face-to-face interactions remain unparalleled, allowing us to demonstrate our understanding of the paramount importance of addressing today’s challenges for the maritime sector. In 2024, we re-emphasised our commitment to connecting with ship owners actively seeking easy-to-use, efficient, and customer satisfaction-focused seafaring and ship registration services from PISR.”

Other exhibitors from Europe, the UK and Greece were similarly full of praise for Posidonia 2024.

Georgios Hatzimanolis, Head of Communications, Brand & Events at Kpler, said: “Posidonia 2024 was a resounding success for Greece and the Greek shipping industry, as echoed by many attendees. For the Kpler team, it was a highly positive experience as we showcased our leading platforms, Kpler and MarineTraffic. The high traffic to our booth and the event’s overall vibrant atmosphere were remarkable. Kudos to the event organisers for their outstanding efforts.”

Brown, Corporate Affairs Director, Marine & Offshore

, said: “Posidonia 2024 was a great show and an amazing week. We had so many opportunities to discuss the future of ship safety, performance, and the importance of supply and value chains. The future of shipping is about more than ships! And as always, there were so many good events – and too little time. Congratulations and many thanks to Theodore Vokos and his team - they were simply everywhere. Time now to start thinking ahead to Posidonia 2026.”

Elias J. Makris, Director EU Business Development at Weathernews, said: “After 13 Posidonia that I have attended, that was the most beneficial and successful one. It was greatly organised, and I hope that Posidonia 2026 will be even better”.

Eleni Anagnostopoulou, Deputy Director, Global Maritime Consultants Group, said: “The networking opportunities at Posidonia were invaluable. The diverse range of exhibitors and attendees provided a comprehensive view of the maritime industry’s current and future landscape, equipping us with the knowledge to make informed decisions and maintain our leadership position. Engaging with this group of professionals allowed us to exchange ideas and best practices, which are essential for driving innovation and excellence in our services. By listening to various industry players’ experiences and perspectives, we can tailor our solutions to address the most pressing challenges and opportunities in the maritime sector. Posidonia allows us all to come together to push the maritime industry forward.”

Nick

at Bureau Veritas

POSIDONIA 2024

POSEIDON MARINE SUPPLIES

του Αλτζεζίρας

Bilbao, Barcelona, Tarragona, Castellon, Sagunto, Valencia, Sete, Fos-sure-Mer

posidonia 2024

58 ABS Wavesight Announces Major Developments for My Digital Fleet Software

One of the standout features of MDF is its EU ETS compliance support, enabling users to accurately track CO2 emissions by vessel and across entire fleets.

“We are excited to unveil the latest My Digital Fleet software, which represents a significant milestone in our commitment to revolutionizing vessel performance monitoring and compliance support,” said Staci Satterwhite, ABS Wavesight CEO. “With its innovative features and modernized architecture, MDF empowers shipowners, operators and charterers to optimize performance, reduce fuel consumption, and gain compliance with regulatory requirements, setting a new standard for addressing risk within vessel performance software in the maritime industry.”

Real-time, data-driven insights supporting regulatory compliance, improving fleet efficiency, reducing operational costs and meeting fleet decarbonization goals are key benefits of ABS Wavesight My Digital Fleet (MDF) software that were unveiled today during Posidonia. MDF introduces groundbreaking features aimed at empowering maritime operators to optimize performance, improve energy efficiency and streamline compliance with decarbonization rewquirements from both the International Maritime Organization (IMO) and the European Union.

“With its deeply rooted connection to ABS, an organization grounded in safety, regulation and compliance, My Digital Fleet brings performance and compliance together all in one platform. Today’s announcement reinforces our commitment to remaining at the forefront of regulatory compliance while providing the industry with the solutions they need to optimize performance and meet decarbonization goals,” said Christopher J. Wiernicki, ABS Chairman and CEO and Chairman of ABS Affiliated Companies

One of the standout features of MDF is its EU ETS compliance support, enabling users to accurately track CO2 emissions by vessel and across entire fleets. This functionality provides invaluable assistance in meeting regulatory requirements and facilitates more precise reporting of EU allowances, driving accuracy for commercial use and seamless compliance with emissions regulations.

The redesigned My Digital Fleet also boasts advanced vessel performance monitoring capabilities, offering unparalleled insights into the impact of hull and propeller condition on propulsion efficiency. By leveraging this powerful tool, operators can gain a comprehensive understanding of fuel usage and wastage, facilitating collaboration between performance and technical teams to optimize vessel conditions. Furthermore, with the integration of dynamic vessel performance models, real-time adjustments to operational conditions can be made, enabling increased power/engine efficiency and reduced fuel overconsumption.

In addition to performance monitoring, new vessel data monitoring capabilities establish a foundation for monitoring and evaluating the quality of data generated by vessels across an organization’s fleet. Providing a visual representation of vessel data types and flagging potential issues, this innovative tool offers actionable feedback to enhance data quality at its source.

MDF also introduces a new intuitive interface, featuring an efficient yet robust design to facilitate easy adoption with a focus on providing an instinctive user experience. Moreover, with a new, modernized architecture, MDF offers enhanced connectivity across the ABS Wavesight product portfolio and third-party applications, improved reliability and reduced cost of ownership with true SaaS infrastructure, and top-of-the-line security with SOC2 Type I and Type II and ISO27001 certifications.

Staci Satterwhite, ABS Wavesight CEO

POSIDONIA 2024

Ναυτιλίας,

επισκέφθηκε, συνοδευόμενη από τον Πρέσβη της

Κύπρου στην Αθήνα κ. Σταύρο Αυγουστίδη, περίπτερα Κυπριακών εταιρειών στηρίζοντας τις επιχειρηματικές

πρωτοβουλίες να καθιερωθούν στην παγκόσμια ναυτιλιακή βιομηχανία.

Παράλληλα, κατά τη διάρκεια

CAPITAL GAS, ERMA FIRST & BABCOCK COLLABORATE ON CARBON-FIT CCS SYSTEM FOR THE WORLD’S LARGEST LCO2 CARRIERS

CAPITAL GAS, ERMA FIRST and BABCOCK signed a Letter of Intent (LoI) to install a pioneering Carbon Capture and Storage (CCS) system, CARBON FIT, on board four new liquefied carbon dioxide (LCO2) carriers.

Due for delivery by South Korean shipbuilder Hyundai Mipo Dockyard in 2026, the 22,000 cbm LCO2 carriers will join the Capital Gas managed fleet as the largest of their kind ever built according to ERMA FIRST.

The ERMA FIRST CARBON FIT system holds Approval in Principle (AiP) from both Lloyd’s Register and DNV. It uses amine absorption technology based on a proprietary amine solvent to absorb CO2 from flue gases. The resultant mix is then heated to produce a chemical reaction that reverses the absorption, separating the CO2 from the solvent. Subsequently, the released CO2 is liquefied using Babcock LGE’s ecoCO2® system and stored on board the ship in pressurised low-temperature storage for subsequent offloading. Since the regenerated solvent can be re-used, the process creates a highly efficient regenerative loop for CCS.

Miltos Zisis, Managing Director, Capital Gas Ship Management Corp., said: “As part of our ongoing efforts to minimize our impact on the environment, but also to actively contribute to a cleaner and more sustainable future, Capital Gas proudly became the world’s first ship manager to supervise the construction of LCO2 carriers. Now, we are taking a step further. Alongside our partners, we are developing advanced carbon capture technology to enhance the environmental sustainability of these ships.”

Neale Campbell, Managing Director, Babcock LGE, said: “The addition of onboard carbon capture to these first-of-akind vessels, in conjunction with our industry-defining ecoCO2® system, is a significant step towards achieving the shipping industry’s emissions reduction targets. The ecoCO2® design concept for handling both CO2 and LPG cargoes provides a flexible solution that can easily be upgraded to incorporate carbon capture and storage requirements.”

Konstantinos Stampedakis, Co-Founder & Managing Director, ERMA FIRST GROUP, said: “This project is a major breakthrough not only for ERMA FIRST and our CCS technology but also for shipping’s journey towards low-carbon operations. Under normal conditions, CCS systems are expected to cut vessel CO2 emissions by 15% to 30%. At this specific project the CO2 capture rate will exceed 70%. This will play a significant role in helping Capital Gas to achieve its decarbonisation objectives but also to have the first almost carbon neutral vessels”.

“Indeed, for owners and operators worldwide, the ERMA FIRST CARBON FIT represents a smart investment in decarbonising technology, supporting compliance with the IMO’s strengthened emissions-reduction targets while contributing to a greener, more sustainable future for the industry as a whole.”

EVANGELOS MARINAKIS, ELENI POLYCHRONOPOULOU & KONSTANTINOS STAMPEDAKIS, DURING POSIDONIA 2024 EXHIBITION

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Greek Office Inaugurated! Headway continues Global Expansion of Low-Carbon Solutions

On June 4th local time, the Posidonia 2024 International Maritime Exhibition was held at the Athens Metropolitan Expo Center. Headway Technology (Booth No. 2.410) showcased its low-carbon product ecosystem, centered on methanol/ammonia fuel supply systems and carbon capture system.

On the first day of the exhibition, the Headway Greek Office was officially established in the presence of numerous partners, marking another significant milestone in Headway’s global low-carbon solution expansion. Greece, as the world’s leading maritime cluster, holds a pivotal position in the global shipping industry. Headway first entered the Greek market in 2006. Over the past 18 years, with its innovative technology, superior quality, and comprehensive, round-the-clock, localized service network, Headway has gradually earned the trust and recognition of numerous Greek customers. Renowned Greek shipowners have kept successful and mutually beneficial cooperation with Headway.

The establishment of the Headway Greek Office aims to further develop the European market, accelerate Headway’s strategic layout in Europe’s low-carbon shipping sector, and to enhance its global low-carbon shipping service network. This will enable Headway to provide more efficient one-stop technical support and pre-sales and after-sales services to clients in Greece and across Europe. It is reported that at this year’s Posidonia, Headway’s exhibited low-carbon solutions including the methanol fuel supply system, ammonia fuel supply system, carbon capture and utilization system, exhaust gas cleaning system, deep catalytic filter-less ballast water treatment system, as well as solid-state hydrogen storage, AEM hydrogen production, and CO2 hydrogenation to green methanol synthesis, among other cutting-edge technologies. Additionally, the green hydrogen-ammonia-methanol integrated project and carbon cycle ecosystem based on these solutions have attracted considerable attention from the exhibition attendees.

Founded in 1969, the Posidonia International Maritime Exhibition is one of the world’s largest and most influential professional maritime exhibitions. This year marks Headway Technology’s ninth consecutive appearance at Posidonia. The solutions presented in the green shipping and low-carbon shipping sectors have been continuously upgraded and iterated, with the product ecosystem and service network steadily expanding, earning widespread trust and recognition from customers. In the future, Headway will continue to provide more comprehensive low-carbon solutions and service to support global customers and contribute to the development of zero-carbon shipping worldwide.

Photo of the Greek Office Inauguration Ceremony

Fuel for thought

Expert insights into the future of alternative fuels

Book a meeting

“THE FUTURE OF SHIPPING”

μεταβαλλόμενο παγκόσμιο τοπίο • Δημιουργία ανθεκτικότητας

POSIDONIA 2024

Η NAFTOSOL

ΣΤΑ ΠΟΣΕΙΔΩΝΙΑ

ομαλή μετάβαση μεταξύ διαφορετικών υπηρεσιών.

Μετά από επιτυχημένες δοκιμές, αποδείχθηκε ότι η πλατφόρμα Neuron

παρέχοντας πολύτιμες αναλύσεις για τη βελτίωση της επιχειρησιακής απόδοσης και της ποιότητας συνδεσιμότητας επί του πλοίου. Μέσω αυτής της στρατηγικής συνεργασίας, οι δύο

δικτύου μέσω πολλαπλών

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WinGD, Alfa Laval, ABS and K Shipbuilding join forces for ammonia-fuelled tanker design

Swiss marine power company WinGD, Swedish marine technology leader Alfa Laval and the American Bureau of Shipping (ABS) will work with Korean shipbuilder K Shipbuilding (KSB) on the development of an ammonia-fuelled MR tanker design, under a memorandum of understanding signed in April. The design will feature a 6X52DF-A engine from WinGD.

WinGD will work with KSB to deliver fuel gas system specifications suitable for the vessel application and the selected engine, while Alfa Laval will deliver the detailed documentation for the final fuel gas system design. The design will be reviewed by ABS, with the aim of issuing an approval in principle.

WinGD Vice President R&D, Sebastian Hensel said: “After early orders for bulk carriers and ammonia carriers, it is encouraging to see that ammonia-fuelled tanker

projects are picking up momentum. And even more encouraging that our X-DF-A engines are at the heart of many of these projects. Developing full vessel designs that shipowners can adopt easily will only accelerate the transition and we are pleased to be part of the collaboration with KSB in delivering this design.”

Head of Marine Separation & Fuel Supply Systems, Viktor Friberg, Alfa Laval said: “This MOU signifies a powerful step forward to make ammonia a viable marine fuel. Our proven expertise in handling diverse fuel types, especially methanol and LPG, will be instrumental in designing the new fuel supply system for ammonia. We believe that partnerships are key for the maritime industry to achieve the ambitious decarbonization targets and support the fuel transition.

By working alongside WinGD, ABS and K Shipbuilding, we accelerate this transition

and make it safer.”

The X52DF-A engine is the smallest bore size available in WinGD’s ammonia-fuelled X-DF-A series, and the first to be developed. It is expected to have wide application across bulk carriers, tankers and ammonia carriers, and has already been ordered for two ammonia carriers to be delivered in early 2026. The X52DF-A is also the engine design on which four class societies to date, including ABS, have issued approvals in principle for the X-DF-A series, assuring shipowners that the engine can be deployed in operation safely.

JDPs and other cooperations have been a cornerstone of WinGD’s ammonia engine developments, with several industry partnerships focused on vessel designs and crew training – supporting both the deployment of ammonia-fuelled engines and the preparedness of the maritime industry to operate them safely.

Image caption: Onsite at Posidonia for the signing, left to right, Stefano Bottino, Global Sales Manager, Fuel Supply Systems, Alfa Laval; Sameer Kalra, President, Marine Division Alfa Laval; Marcel Ott, GM Application & Technical Sales, WinGD; Volkmar Galke, Director Sales, WinGD; Rudolf Holtbecker, Director Customer Support, WinGD

POSIDONIA 2024

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KeelX and Veracity by DNV Forge Strategic Partnership to Drive Environmental Sustainability in Maritime Industry

KeelX, a Limassol-based innovative maritime software provider, is thrilled to announce a transformative partnership with Veracity, the leading maritime emissions cloud from the internationally accredited registrar and classification society DNV This collaboration is poised to redefine data sharing and verification processes for emissions data, serving the collective interests of their shared clientele.

The official announcement of this strategic alliance took place during a partner signing photo event at the DNV booth at the prestigious Posidonia Expo, amid an atmosphere charged with anticipation and innovation.

Through this strategic collaboration, shipping companies using KeelX’s advanced platform will now be able to share emissions data with DNV’s Veracity platform through an integrated API. This integration enables DNV to provide common customers in the need of verified emissions data with an automated flow, from the point where they deliver the noon report through to obtaining the verification statement inside DNV’s Emissions Connect solution

At the heart of this partnership lies KeelX’s flagship SaaS solution: KeelX Analytics. This powerful tool empowers maritime operators to monitor and optimize the environmental performance of their fleet opera-

tions. By harnessing KeelX Analytics’ robust insights and predictive capabilities, fleets can effectively manage their emissions footprint in alignment with global decarbonization imperatives.

Barry Authers, Head of Partnerships at Veracity by DNV, highlighted the significance of the collaboration: “Integrating KeelX Analytics with the Veracity cloud brings efficiency to emissions data verification. It enables our common customers to receive daily verifications of their operational vessel data, in an automated process, providing them with higher data granularity and reducing their administrative efforts. This partnership exemplifies our commitment to leveraging technology to enhance sustainability in the maritime industry.”

“This partnership represents a significant leap forward in our joint commitment to drive maritime decarbonization,” commented Patrik Bollini, Chief Information Officer (CIO) at KeelX. “It underscores our unwavering dedication to operational excellence and data integrity.”

KeelX extended gratitude to key partners such as Lemissoler and Uniteam Marine, whose collaboration has been instrumental in reaching this historic milestone. Michalis Papaioannou, Technical Manager at Uniteam Marine, emphasized, “We are thrilled

about the partnership between KeelX and Veracity. This collaboration not only enhances our operational efficiency but also reinforces our commitment to sustainability and regulatory compliance. The automated processes reduce the administrative burden on our team, allowing us to focus on our core mission and strategic objectives.”

The partnership also paves the way for enhanced compliance and operational efficiency, freeing up resources and enabling maritime companies to focus on strategic initiatives rather than administrative tasks. John Hadjiparaskevas, Managing Director at Uniteam Marine, added, “We are confident that the combined strengths of KeelX and Veracity will support our goals and set new benchmarks in the industry.”

Aristos Philis, CEO at KeelX, commented, “We are immensely proud of this partnership with Veracity. It marks a crucial step in our mission to support the maritime industry in achieving its sustainability goals. Our combined efforts will undoubtedly contribute to a more sustainable future.”

As KeelX and Veracity embark on this collaborative journey, they reaffirm their shared dedication to empowering the maritime industry with innovative solutions that foster sustainable growth and environmental stewardship.

Aegean Protective Coatings S.A

35 Years of Excellence in the Greek Maritime Industry

Aegean Protective Coatings S.A., THE reputable representative of PPG Coatings, recently celebrated a remarkable milestone: 35 years of exceptional service to the Greek Maritime Industry. The commemorative event took place at Golf Prive in Glyfada, where Founder Captain Pantelis D. Monogioudis, alongside his children Anna-Maria, Dimitris, and John, warmly welcomed esteemed guests from around the world.

Aegean Protective Coatings S.A., the well-established representative of PPG Coatings, celebrated a significant achievement, marking 35 years of exceptional service to the Greek Maritime Industry. The event was held at Golf Prive in Glyfada, where Founder Captain Pantelis D. Monogioudis with his children Anna-Maria, Dimitris and John warmly welcomed esteemed guests from around the world. The 35th-anniversary event celebrated the company’s past accomplishments and emphasized its ongoing dedication and commitment to providing excellent services in the Shipping Industry.

PPG, with headquarters in Pittsburgh is a global leader in coatings for more than 135 years that operates and innovates in more

than 70 countries.

Distinguished guests from the Greek Shipping Industry had the opportunity to engage in discussion with executives from Aegean and PPG, including Mrs. Amy Ericson, PPG’s Senior VP of Protective and Marine Coatings, Mr. J. W. Tegelaar, General Manager of PMC EMEA, Mr. Jack Jiang, General Manager of PMC Asia Pacific and Mr. Sijmen Visser, Sales Director Marine EMEA.

An important subject of conversation focused on PPG’s groundbreaking SIGMAGLIDE 2390® biocide-free silicone fouling release coating, which stands as the sole hull coating endorsed by RightShip’s stringent product evaluation process.

To promote maritime sustainability, PPG

has collaborated with RightShip’s Zero Harm Innovation Partners Program to support the creation and implementation of innovative solutions for a more sustainable future in the maritime sector. PPG SIGMAGLIDE 2390® coating helps vessels achieve instant power savings of up to 20% with a speed loss performance of less than one percent, contributing to a greenhouse gas emissions reduction of up to 35% - depending on vessel type and operating conditions - in comparison to traditional antifoulings. Aegean Protective Coatings S.A, in alignment with its commitment to social responsibility, donated the surplus food from the event to the non-profit organization “Boroume” https://www.boroume.gr/ in cooperation with Golf Prive.

Are You Ready for FuelEU Maritime?

“FuelEU Maritime comes into force in precisely 211 days. Are you ready?”

That was the question to the shipping industry from ABS Chairman and CEO Christopher J. Wiernicki as he launched the Posidonia Shipping Exhibition with a keynote address to the Capital Link Maritime Leaders Summit, highlighting the disruptive potential of incoming regulation.

“FuelEU creates a new hurdle to clear every five years to avoid an emissions bill, but its potential impact lies in the way it turbocharges return on investment in alternative fuels technology. The regulation aims to drive fundamental, disruptive change, to reshape the industry around us well before 2050 and reward first movers on emissions reduction technology,” said Wiernicki. He outlined the potential for pooling compliance surpluses from lower emission vessels generated under FuelEU to offset compliance deficits of older tonnage or be sold to other operators.

“It is in the regulators’ plan for pooling of surpluses that the game changing nature of FuelEU is most clearly revealed,” he said. “ABS research indicates the power of pooling will be significant, hugely rewarding pioneers of alternative fuel technologies. What is the value of this new marketplace for compliance? Will we see modern, ultra-low emission vessels effectively running two revenue streams? Or will we see smaller operators pushed out, unable to

raise funds to invest in newer assets and lacking the scale needed to pool to reduce the escalating bills attached to older tonnage?”

He highlighted how FuelEU was not only a new reality for vessels trading in European waters because the IMO has indicated it intends to introduce its own version globally in 2027.

“So, wherever you are, whatever you ship, however it is fueled, there’s a new paradigm at sea. A new lens through which to view everything from trade routes and energy choices to investment decisions: CO2e per megajoule.”

Later at the summit, Wiernicki moderated a panel of key global LNG leaders, titled LNG Shipping and the New Energy Landscape. He said: “LNG is going to play a leading role in reaching 2050. However, for such a key fuel for the energy transition, it is important to recognize it is itself a fuel in transition. And we will need it to not only evolve but to address and mitigate the risks inherent in its operation today if we are to reach our 2050 objectives.

“LNG is the perfect example of how shipping will be an enabler of the transition as both consumer and transporter of the low and zero-carbon fuels we will need to reach 2050. All of which means the panel we have today, who represent a broad spectrum of the LNG carrier industry and value chain, will together play a significant role in the energy transition at sea.”

(L to R): Nicolas Bornozis, Capital Link President and CEO; Captain Abdulkareem Al Masabi, CEO ADNOC Logistics & Services; Evangelos Marinakis, Founder and Chairman of Capital Maritime & Trading Corp.; George Prokopiou, Founder of Dynacom Tankers Management, Dynagas Ltd./Sea Traders; ABS Chairman and CEO Christopher J. Wiernicki; Andrian Dacy, Managing Director & Group Head of Global Transportation Group for J.P. Morgan Asset Management; and Jerome Cousin, Senior Vice President of Shipping and Trading from TotalEnergies; and Olga Bornozis, Capital Link Managing Director.

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‘Energy Efficiency in focus’ Expert Seminar at Posidonia

During ‘Energy Efficiency in focus’ Expert Seminar at Posidonia, DNV Maritime CEO Knut Ørbeck-Nilssen delivered introductory remarks, outlining the prospects for the decarbonization of the maritime industry – emphasising the importance of considering energy efficiency measures. During the speech, Ørbeck-Nilssen discussed some of the major challenges facing shipping as it strives to reach increasingly ambitious regulations and goals.

Here are some key highlights from his speech: “Decarbonization in the maritime industry is likely to slow down. Vessels are busy trading and there is little incentive to bring them into yards for retrofitting to alternative fuels. On top of that, there is limited capacity at the yards. And although over 50% of new orders being placed are for vessels with dual-fuel capability – which is a really good start – 93% of the global fleet is still running on conventional fuels.

“If you would like to invest in vessels with dual-fuel capability, you will also need to pay a pretty high premium on the capex to get that dual-fuel capability. It is difficult for those who make these investments to transport the costs further up the value chain and these costs more or less rest with those shipowners that invest. So for the segments lacking high commercial drivers, considering energy efficiency measures is essential.

“I haven’t even touched on the supply side of alternative fuels, which is a big headache. There are not enough green fuels available, and they will remain unavailable for most.

“That is why I am offering what I think is a more realistic outlook. There is a significant divide between politicians’ ambitions and what the industry can actually deliver.”

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16th Greener Shipping Summit Challenges and Solutions in Transitioning to Greener Shipping Technologies

The summit emphasized the importance of safety and proper regulations for decarbonization in the shipping industry. Various challenges and solutions for transitioning to eco-friendly practices, including training needs, alternative fuels like ammonia, AI integration, remote training, carbon capture systems, and regulatory challenges around alternative fuels like hydrogen, were explored.

Half a million seafarers would have to be retrained if greener ship technology as it stands becomes the rule, the 16th Greener Shipping Summit heard during Posidonia 2024. Seafarer training, regulatory challenges and new approaches were explored at ‘The Greener Shipping Summit 2024,’organised by Newsfront/ Naftiliaki under the auspices of MARTECMA (Marine Technical Managers Association) as part of the Posidonia 2024 conference programme.

Summit keynote speaker, Dimitris Fafalios, Chairman of Intercargo, kicked-off the summit with a warning “we cannot achieve IMO goals without safety.” “To develop the right regulations for decarbonisation and safety we must help our regulators to understand the fundamental difference between shipping’s basic models.”

The Posidonia 2024 summit called into question the shipboard force’s readiness for the greener transition, with a focus on the quality of shipping training, digitalisation and fleet efficiency. “Seafarers will understand the new processes,” said George Skevis, General manager of CLEOS. “Who is going to train the trainers?” queried Angelos Pantouvakis, School of Maritime and Industry Dean.

Technical and managerial shipping was considered, following the eco-friendly demands. A key issue is the handling of the most promising alternative fuel, ammonia, which would require “some hard skills training,” underlined Natassa Kouvertari, Lloyd’s Register’s Maritime Decarbonisation Hub Project Manager. She noted that up to 800,000 seafarers will need re-training in green shipboard technology sectors. “Managerial skills must not be neglected,” stressed Kostas Spyrou, Professor at National Technical University of Athens.

Konstantinos Agas, Training Manager at Dynacom and Dynagas, addressed inadequate trainers and unfeasible training-time for seafarers, with the recommended monthly hours being ‘20-25.’ Andreas Hadjipetrou, Managing Director of Columbia Shipmanagement Ltd, emphasised recruiting “the right people onboard”, like officers. “Maritime operations’ fast pace regime pose difficult training conditions,” Takis Koutris, Managing Director of Roxana Shipping SA, underlined. Crew well-being initiatives, like appointing “a well-being ambassador and monthly psychological consultations” are critical, he noted.

The summit panellists debated whether AI is a tool or a threat, agreeing remote training aids seafarer well-being but questioned its regulation. Mr Agas proposed ‘virtual light training initiation,’ where trainees are given the option to conduct their training online. However, “there is no standardised remote training,” said Dimitris Fokas, Training Manager of Angelicoussis Shipping Group and Chairman of Human Element Committee, Intertanko. “How can we verify that the trainees have received certificates?” he added. It is the combination of both remote and hands-on training, the panellists concurred.

“Proper decarbonisation plans” must be made for future vessels with alternative fuels,” said Morten Lero, Managing Director

Maritime Advisory at DNV. He noted that “by 2030, shipping might need to utilise 30 - 40% of the world’s alternative fuel production to meet regulatory expectation.” Stela Spiraj, Senior Engineer of Regulatory Affairs at ABS underlined the rapidly changing Green regulatory challenges they face. Rapid adoption is needed and, with ammonia and hydrogen being classified as potential alternative fuels, “we expect ammonia to be adopted by July 1st 2026,” she revealed.

Though regulatory challenges persist in the use of alternative fuels, Carbon Capture has emerged as a viable solution for many ships, with it being able to capture CO2 from a vessel’s exhaust for safe and future storage. “LNG is the best fuel for carbon capture,” Antonis Trakakis, Technical Director at RINA and CIMAC Hellas Chairman noted. “With it on board, you can use the pre-combustion instead of the post-combustion systems,’’ he said as it decreases energy consumption, evidenced by Cambridge research. However, the concern on Carbon Capture Systems falls on its verification. “We don’t want to give credit to the wrong industries,” said John Kokarakis, Technical Director of SEEBA Zone and Bureau Veritas. The systems won’t be verified until ‘Spring 2025,’ he revealed.

Following the eco-friendlier transitions for vessels, Kokarakis recommended focusing on three key items: improving hydrodynamic design, using silicon-based paints, and exploring biofuels compliant with the EU’s Emissions Trading System (ETS). For new builds, Fotis Belexis, Technical Director at Star Bulk Carriers Corp, stressed the importance of “operational optimisations”, to improve fleet efficiency. Selecting appropriate energy consumers, improving aerodynamic designs, and reducing electric energy requirements are crucial steps. However, Second-hand ships are in the spotlight now; Belexis advised “checking maintenance records, engine propulsion systems, fuel consumption records, and regulatory compliance.”

On decarbonisation and IMO regulations, the biggest concern was that of hydrogen. Despite it being a potential cleaner energy source, ‘its global warming potential is 11 times greater than CO2, over a 100 year timescale,’ said Panos Zachariadis, Technical Director at Atlantic Bulk Carriers Management Ltd. “New studies say it’s even worse than that, 60 or 200 times worse,” he warned. The question is how much of it is going to escape, he stressed. He emphasised that “we need new technologies like nuclear fourth-generation” because ‘using renewable electricity to produce green fuels is not an efficient approach.’ Other solutions include ammonia, but he believes we need further studies to verify this. ‘Targets have been achieved, on paper though,’ he highlighted. The global warming potential of LNG is ‘28 and 25 according to CII’ (Carbon Intensity Indicator) calculations; he explained that these calculations are based on the textbook chemical reaction of natural gas in engines, which may not exactly reflect real-word conditions. Nevertheless, he underlined that ‘28 is a viable number.’

Joint project for GSI’s 100,000 cbm VLAC marked with a ceremony at Posidonia 2024

Brown, LR CEO and Chen Ji, Chairman of GSI at the ceremony during Posidonia 2024

Lloyd’s Register (LR) and Guangzhou Shipyard International (GSI) have signed a joint development project (JDP) for the design of the world’s largest VLAC (Very Large Ammonia Carrier) with a carrying capacity of 100,000 cbm.

The vessel will feature an independent IMO type B tank for the safe storage of ammonia which is expected to optimise the vessel’s operational efficiency.

The design was assessed according to LR’s Structural Design Assessment & prescriptive analysis and, as part of the JDP, LR provided GSI with its support as a trusted adviser during discussions about ammonia fuel applications and future gas ship developments, building upon this unique vessel design.

Nick Brown, Lloyd’s Register CEO, said: “LR is proud to work with GSI on this historic design for the world’s largest ammonia carrier. As major economies look to co-fire Ammonia in their coal power stations to reduce the CO2 footprint of their national energy mix, shipping will play a key role in distributing clean hydrogen-based commodities such as ammonia, thereby supporting nations to meet their Paris Agreement commitments.

Chen Ji, Chairman of GSI, said: “GSI has a good reputation in the market for innovation and a strong R&D ability to develop different kinds of vessels. The 100,000 cbm VLAC design was developed with input from of our long-term partners and an ammonia producer. Thanks to the trust extended by all parties, especially the support from LR, GSI has developed the largest VLAC design in the world.”

TMS Group and Lloyd’s Register team up for Energy Transition Strategy Project

Partnership will see TMS’ fleet analysed and evaluated for decarbonisation and efficiency opportunities, with the project’s goal of developing a roadmap for TMS’ fleet compliance.

TMS Tankers Ltd. and TMS Cardiff Gas Ltd. have entered into a strategic partnership with Lloyd’s Register (LR) to embark on an ambitious Energy Transition Strategy Project (ETSP). The collaboration will explore and define compliance pathways that will facilitate the TMS Group’s fleet transition towards sustainable and environmentally compliant operations.

The project will focus on three critical strategies to address the energy transition of TMS Group’s fleet. The collaboration will feature a comprehensive analysis, examining TMS’ existing business and sustainability strategies by evaluating ongoing initiatives, performance efficiencies, and alternative fuels, to understand the baseline emissions and operational constraints.

The partnership will then focus on a detailed examination of TMS Group’s compliance with Carbon Intensity Indicator (CII) regulations and its strategies to meet future environmental regulations such as the European Union’s Fit for 55 initiative and the International Maritime Organization’s (IMO) mid-term measures. LR will conduct a gap assessment as part of this analysis.

The project will conclude with a strategic roadmap developed using the analyses. This will include short, medium, and long-term initiatives to ensure the TMS fleet remains compliant with evolving environmental regulations while minimising operational disruptions.

The collaboration will also feature continuous progress tracking, regular stakeholder meetings, and the delivery of detailed reports to ensure transparency and alignment with TMS Group’s strategic goals.

George Kourelis, General Manager of TMS Tankers Ltd.& TMS Cardiff Gas Ltd., highlighted the importance of the initiative: “We are in an era of changes, investing heavily in new construction and fleet expansion, ensuring that our fleet remains energy efficient. It is imperative that we explore all potential future compliance pathways and strategies to ensure our fleet meets future environmental regulations.”

Andy McKeran, Chief Commercial Officer of Lloyd’s Register, expressed his enthusiasm about the partnership: “We are excited to work alongside TMS in this strategic partnership. This project represents a significant step towards sustainable shipping, and we are committed to leveraging our expertise to help TMS navigate the complexities of the energy transition.”

Theo Kourmpelis, Strategic Business Partner at Lloyd’s Register, emphasised the significance of the collaboration: “TMS is a strategic partner for us, and we are very keen to work with the group on this groundbreaking project. We are eager to see the outcomes and help TMS achieve its sustainability goals.”

Nick

(From left to right) Alexandros Kafouros, Emissions Reduction & Compliance Officer, TMS Tankers Ltd; George Kourelis, General Manager, TMS Tankers Ltd and TMS Cardiff Gas Ltd; Andy McKeran, LR CCO; Theo Kourmpelis, LR Strategic Business Partner.

Technomar Shipping Inc. Receives RINA Cyber Security Certificate

Technomar Shipping Inc., the technical manager of 97 ships, including the 68 containership fleet of Global Ship Lease, Inc. (NYSE: GSL), and RINA, the inspection, certification and consulting engineering multinational, are proud to announce Technomar’s successful completion of the “RINA Cyber Security - Verification for ships in service” and the award of the certificate. The handover ceremony took place at the RINA Booth during the Posidonia international shipping exhibition in Athens

The ceremony was attended by representatives from Technomar, RINA, and Global Ship Lease. Mr. Thomas Lister, CEO of Global Ship Lease, Mr. Paminos Youroukos, Strategic Planning & Compliance Executive at Technomar Shipping Inc. and Aggelos Karantonis, Vessels IT Manager at Technomar Shipping Inc, were present to receive the certificate. From RINA, Mr. Giosuè Vezzuto, Marine Executive Vice President, and Mr. Spyridon Zolotas, South Europe & MEA Marine Senior Director, officiated the event.

The “RINA Cyber Security - Verification for ships in service” is a testament to Technomar’s commitment to managing cyber risks with appropriate policies, procedures, and technical controls onboard. This certification ensures alignment with IMO, IACS

requirements, and industry best practices. It is particularly noteworthy as it addresses the operational need for ships in service, which will continue to be in use for many years, to have a similar level of cybersecurity protection as newbuilds.

Mr. Paminos Youroukos, Strategic Planning & Compliance Executive at Technomar Shipping Inc., commented “Our customers, such as Global Ship Lease, are increasingly focused on using high frequency operational data to drive energy efficiency gains and decarbonization across their fleets. At Technomar, we are supporting these initiatives by proactively upgrading cybersecurity infrastructure onboard, integrating advanced technologies, and investing in our people to ensure that they are well-equipped to safely manage the

technology and associated processes and procedures. Through RINA’s verification we are pleased to attest and certify the level of security achieved, ensuring that our ships in service, personnel, and operations are properly protected.”

Michael Vrettos, Senior Cyber Security Expert at RINA, said “Cybersecurity is crucial for forward-thinking companies like Technomar, which leverage digital tools to enhance operational performance and onboard connectivity. Given that cyber threats target both active vessels and new builds indiscriminately, Technomar’s successful completion of the Verification process is significant. It confirms that the company is not only secure in the present but also well-prepared for future challenges”

Franman and International Maritime Industries (IMI) Sign Exclusive

Agreement TO PROMOTE MRO AND NEW BUILD SERVICES FOR MENA’S BIGGEST SHIPYARD

Athens-based Franman, a leading representative and supplier of premium equipment, parts, products and high-quality services to the shipping industry, has been appointed as the exclusive agent for Greece and Cyprus, by Saudi Arabia’s International Maritime Industries (IMI), the largest full-service shipyard in the MENA region.

The agreement makes Franman the sole agent responsible for promoting IMI’s Maintenance, Repair & Overhaul (MRO) business to potential Greece- and Cyprus-based clients. IMI selected Franman for its expertise and long history serving these countries’ maritime sectors.

IMI’s fully integrated shipyard spans more than 11 million square meters and caters to a wide range of commercial vessels, including VLCCs, bulk carriers, tankers, offshore support vessels and offshore jack up rigs. Recognized as the largest and only yard in the MENA region capable of multiple MRO projects and large-scale new build programs including VLCCs, IMI’s tech-led infrastructure for New Build & MRO features state of the art facilities, multiple dry-docks and the largest ship lift facility in the world with a lifting capacity of 31,200 tons, that collectively enable unmatched service capacity and efficiency.

Costis Frangoulis, Founder and CEO of Franman, said: “Our partnership with IMI is a significant milestone in Franman’s 33-yearlong solid track record of representing leading international service providers to the maritime sector. This agreement could

bring about mutually beneficial opportunities for both Franman and IMI, ultimately enhancing the maritime capabilities across our regions. Franman’s clients in Greece and Cyprus seeking enhanced capabilities, sustainability alignment and a strategic location for their MRO needs now have access to one of the most advanced and sustainability-focused maritime facilities globally located strategically at a key maritime route closer to home. And with IMI’s expertise and the extensive facilities of the shipyard, Franman could potentially tap into a broad range of maritime industries, from commercial shipping to offshore energy, bolstering our position as a key player in the maritime service sector.”

Feras Al-Sahan, Acting Chief Executive Officer of IMI, said: “This partnership is another significant step in our journey to increase our geographical reach and deliver best-in-class services to global clients. We are confident that through our collaboration, as the largest full-service shipyard in the MENA region, and Franman’s expertise and far-reaching market presence in Europe, we can jointly unlock opportunities for the maritime sector and in turn spur economic growth.

We recognize the evolving needs of shipping companies to ensure operational efficiency and business continuity. We are excited to support our prospective clients via IMI’s state-of-the-art integrated shipyard, where we not only provide ship and rig building capabilities, but also deliver MRO services. This collaboration will also be enhancing scalability of our operations and offering world class facilities in the region to new global clients”.

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HD Hyundai Heavy Industries and Capital Gas Ship Management SECURE

LR APPROVAL IN PRINCIPLE FOR 40,000 CBM LCO2 CARRIER

LCO2 carrier design part of JDP to further bolster the CO2 value chain with multi-gas storage

HD HHI and Capital Gas Ship Management have received approval in principle for a 40,000 cbm LCO2 carrier from Lloyd’s Register, developed following a joint development project between the parties.

The vessel has been designed to support the growing CO2 value chain with the growing importance of solutions such as Carbon Capture and Storage (CCS) to the energy transition and to meet the ambition of the Paris Agreement to reach net zero emissions by 2050.

The JDP focused on exploring and establishing the operational profile of LCO2 carriers along with the design suitability and feasibility of the vessels. LR’s role during the project was to assess the vessel’s operational profile using its Risk Based Certification (RBC-1) process.

The project builds on the strong working relationship between the JDP partners, for the construction of four 22,000 cbm low-pressure LCO2 carriers equipped with IMO Type C storage tanks and a state-of-the-art cargo handling system able to accommodate CO2 (Carbon), NH3 (ammonia), and LPG (liquefied petroleum gas).

Panos Mitrou, Global Gas Segment Director of Lloyd’s Register said: “Carbon negative space represents a sector with great potential and prospects, especially for key industrial sectors which are hard to abate. In this context, transporting carbon at scale may prove to be an essential link towards the Paris Agreement objectives.

“LR is proud to have acted as a trusted adviser on this 40K cbm LCO2 carrier project, which reaffirms Hyundai Heavy Industries and Capital’s commitment to providing maritime infrastructure that addresses the current challenges of the carbon value chain and reduces greenhouse gas emissions.”

Mr. Seung-Ho Jeon, Senior Executive Vice President and Chief Technical Officer of HD Hyundai Heavy Industries, said: “With strengthening global environmental regulations, we are witnessing growing demand for eco-friendly vessels that maximize fuel efficiency. In particular, we are seeing more opportunities in the carbon dioxide carrier market as more carbon dioxide is expected to be transported with active carbon dioxide emissions trading and increased carbon capture facilities. HD Hyundai Heavy Industries has successfully verified the operation performance of large low-pressure liquefied carbon dioxide carriers through this joint development project and believes it will be an opportunity to go one step further to achieve carbon neutrality.”

Ms. Alexandra Xystra, Technical Director of Capital Gas Ship Management, shared her thoughts on the company’s innovative strategies in the shipping industry: “As the first to manage orders for these types of vessels, placed by independent owners, we are committed to continuing this innovative trajectory. We are actively exploring the potential for these technologies to support larger vessels in collaboration with our partners. We expect the demand for such vessels to increase in the near future.”

POSIDONIA 2024

DNV presents Minerva Gas and Minerva Marine with ISO/IEC 27001 Certification

At the Posidonia trade fair, classification society DNV presented Minerva Gas and Minerva Marine with ISO/IEC 27001 certification for their information security management system

ISO/IEC 27001 is perhaps the most recognized international standard for information security management systems. It assists organizations to establish information security management policies and objectives and to understand implement and manage controls and set clear objectives for improving information security.

“As automation and digital technologies make rapid advances in shipping, the cyber security protection becomes not only a requirement but also a business need with the aim of safeguarding the safety and the efficiency of our operations. This is why Minerva has invested in establishing and implementing an ISO 27001 certified and compliant information security management system and we would like to thank DNV for its support throughout this journey,” said Mr Sokratis Dimakopoulos, COO at Minerva Gas Inc. and Minerva Marine Inc.

“We are very pleased to award Minerva Gas and Minerva Marine this certification,” said Ioannis Chiotopoulos, SVP & Regional

Manager, DNV Maritime. “It is a milestone that reflects their commitment to safeguarding sensitive data and ensuring the highest standards of data security and this comprehensive approach will undoubtedly enable them to make the most of the management systems they have in place. In addition, it showcases how cooperation between the experts within DNV’s different business areas can deliver outstanding integrated services for our customers.” For the above ISO/IEC 27001 Information Security certification and Maritime Management Systems Certification, experts from DNV’S Piraeus office worked with colleagues from DNV’s Business Assurance unit, the audit, went through the two initial stages in the premises of Minerva and the required shipboard ISO sampling process.

ISO/IEC 27001 Information Security certification is part of DNV’s “Seamless” ISO 9001, ISO 14001, ISO 45001, and ISO 50001 portfolio. Minerva Gas and Minerva Marine implemented ISO/IEC 27001 to their Seamless ISM, ISO 9001, ISO 14001, ISO 45001, and ISO 50001 certification.

(from left to right: Knut Ørbeck-Nilssen, CEO at DNV Maritime and Sokratis Dimakopoulos, COO at Minerva Gas Inc. and Minerva Marine Inc. at the certification ceremony)

wista hellas seminar within the framework of metavasea during posidonia 2024

Insightful WISTA Hellas Seminar on “A People-Centered Decarbonization Concept Beyond Sea Level Boundaries” within the framework of the METAVASEA project held at Posidonia 2024

On Thursday, June 5, within the framework of the METAVASEA project, WISTA HELLAS proudly hosted an insightful seminar titled “A People-Centered Decarbonization Concept Beyond Sea Level Boundaries” during #Posidonia2024. The event brought together brilliant leading maritime professionals, fostering discussions on innovative approaches to decarbonization within the maritime industry. Held in a full room at Posidonia Metropolitan Expo the seminar provided a platform for exploring sustainable solutions and advancing the industry’s commitment to reducing its environmental impact.

During the seminar a distinguished panel convened, with three out of the four panellists representing esteemed members of WISTA Hellas, underscoring the immense potential and expertise within the Association. The seminar emphasized the critical importance of collaborative efforts across the shipping cluster to effectively

address the challenges of decarbonization, a principle that aligns closely with WISTA Hellas’ mission and activities.

WISTA HELLAS would like to extend its heartfelt gratitude to our Platinum Supporter, American Bureau of Shipping (ABS), and the esteemed panellists: Alexandra Chatzimichailoglou, CEO of Kyklades Maritime Corporation; Maria Koukou, HR Business Partner for SEEBA Zone at Bureau Veritas Hellas; Ariana Psomas, Global Marine Segment Director, New Build & Drydock Protective and Marine Coatings at PPG; and Aggeliki Tsolakidou, Head of Financial Department at Alexandroupolis Port Authority

SA.WISTA HELLAS extends its sincere gratitude to Konstantinos Vouroutzis, Senior Project Manager Global Sustainability at ABS, for skilfully guiding the discussions during the seminar. His effective moderation ensured a productive exchange of ideas and insights among industry experts.

Panama presents its elevated maritime sector at the world’s biggest shipping exhibition, Posidonia 2024

Panama’s prominent role in the maritime and logistics sector, along with its compelling investment opportunities, was highlighted at Posidonia 2024, the world’s most prestigious maritime exhibition. The event took place from June 3 to 7 at the Athens Metropolitan Expo Center.

The National Pavilion of Panama, situated in Hall 2.110, was inaugurated, following the exhibition opening ceremony, and was attended by Greek Deputy Minister of Shipping and Insular Policy Mr. Ioannis Pappas, international organization officials and global maritime leaders. The Panama Pavilion is a joint national effort of the Export and Investment Promotion Authority (PROPANAMA), the Panama Canal Authority (ACP), the Maritime Authority of Panama (AMP) and the Embassy of Panama in Greece, accompanied by over 60 members of Panama’s Maritime Chamber.

The Panamanian delegation aimed to highlight Panama’s competitive advantages for investment in the maritime sector, along with the excellent nearshoring, shipping, freight transport, and diverse services that Panama’s maritime and logistics community has to offer.

Η.Ε. Mrs. Julie Lymberopulos, Ambassador of Panama in Greece, said: “Our involvement in Posidonia 2024 is a testament to Panama’s enduring commitment to the maritime sector. As the world’s largest Shipping Registry, Panama is proud to support and contribute to the advancement of international shipping. This event not only highlights the impressive achievements of the Greek fleet but also underscores the collaborative spirit that drives the maritime industry forward”.

Mrs. Ilya Espino de Marotta, Panama Canal Deputy Administrator, said: “In Posidonia 2024 we want to showcase how the Panama Canal secures reliability for the future. Everybody has heard about the very dry year we had, the very big drought, but now we are back to 32 transits per day, effective June 1st, hoping to get to 34 in July. We are also showcasing the different initiatives we take in order to be able to maintain shipping activities in an efficient manner. As a big organization we want to impact the maritime industry, so we just finished our greenhouse inventory and we are going to set some targets in order to help the decarbonization of shipping”.

Mr. Lino Arosemena, Ship Repair CEO, Talleres Industriales S.A., commented: “We are a 55-year-old company and we have been at Posidonia for the last 30 years. Greece is a very important country for us, for Talleres as well as for Panama. That is why we have to be here – most of our clients are from this area. This year we have a really big stand, with representatives from all industries. This is good, because it has been a difficult year for Panama, due to the drought. We need to talk to our Greek clients and explain we can get to the levels they expect from us”.

According to Mr. Allan Ritter, Director of International Promotion at PROPANAMA, “PROPANAMA is pleased to support its maritime industry at Posidonia once again. Having so many representatives of all aspects of our thriving maritime ecosystem demonstrates just how valuable Panama is for this industry and is a great showcase for the quality services that you can find on our shores.”

POSIDONIA 2024

Υπηρεσιών, Cao Sen- Αναπλ. Διευθυντή Ναυτιλίας, Χρηματοδότησης και Leasing και την κ. Sha Wei –Αναπλ. Διευθύντρια Κέντρου Προώθησης

2. Tianjin Municipal Transportation Commission αντιπροσωπία αποτελούμενη

Tianjin κ. Xie Yuan, το Γ.Γραμματέα κ. Wang

της China Classification Ελλάδας.

3. Pudong New Area αντιπροσωπία αποτελούμενη

κ. Bi Guiping, κ. Shi Zhaoliang – General Engineer The Planning and Natural Resources Bureau of Pudong, κα Miao Yan – Deputy Chief of Consumer Promotion Division, κ. Hu XinilDirector, Land Affairs Center, κα. Lyu Duantao- Deputy Director, Land Reserve Center και κ. Ling Zijan- First Level Chief Clerk of Planning & Management, Planning & Natural Resources Bureau.

4. Shanghai Municipal Transportation Commission αντιπροσωπία

Fulin,

He LiDirector of Comprehensive Planning Division, την κα Shen LanDeputy Director Shipping Division, τον κ. Yang Huijun Dep.Director of Research Division, κ. Si Yong-Director, Railway Division, κ. Xu Wanyi-General, Post & Shipping Development center.

104 INTERCARGO MARITIME WATCH

INTERCARGO Bulk Carrier Casualty Report 2024

•There is now a clear 10-year trend showing significant improvements in safety across the dry bulk shipping sector.

•In 2023 there was one loss of a dry bulk vessel and no loss of lives.

INTERCARGO, the International Association of Dry Cargo Shipowners, highlight continuing improvement in the safety performance of the sector. The Association’s Bulk Carrier Casualty Report records the yearly loss of vessels* and lives across the dry bulk sector, with the intention of monitoring the impact of safety measures in the sector across the globe.

The bulk carrier fleet has grown significantly in recent years to cater for the world’s growing economy. Between 2014 and 2023 the number of vessels increased by 20% (to 12,200 according to the statistics used for the purposes of the report), with today’s bulk fleet representing more than 40% of world tonnage and carrying an estimated 55% of the global transport work. Despite the fleet growth, encouraging statistics show that the loss of vessels continues to fall.

Naturally, areas of concern remain including cargo liquefaction or other moisture related cargo failure mechanisms, which pose the greatest risk to life, contributing to the loss of 55 lives or 61.8% of the total loss of life over the past 10 years. Groundings remain the biggest cause of ship losses. Enhance-

and especially the need for stakeholders to provide ships’ crews with the correct cargo characteristics details, remains a priority to reduce casualties even further.

The reduction of incidents, as revealed in the Report, can be attributed to continual safety improvements implemented by ship operators in tandem with enhanced legislation within the sector.

A significant contributing factor to the safety performance of bulk carriers is the development and implementation of an improved international regulatory framework. As a Non-Governmental Organisation (NGO) within the International Maritime Organization (IMO), INTERCARGO is proud to have played an important part in the development of this legislation. The adoption of new technology to improve ship design is also a major causal factor.

Announcing the publishing of the latest Bulk Carrier Casualty Report 2014-2023, Dimitris Fafalios, INTERCARGO Chairman, commented: “Bulk carrier safety must never be overlooked. We have come a long way since the ‘dark days’ of the 1980s, when we experienced many tragic losses of lives and vessels. Since then, safety performance of

large part to concerted efforts by INTER CARGO with other industry stakeholders. These latest statistics reveal an impressive achievement, especially when considering the significant rise in the number of bulk carriers during this period.”

“There is, however, definitely no room for complacency. Any loss of life is tragic, and the shipping industry must pay close attention to the contributing causes analysed in this report. INTERCARGO believes the dry bulk sector should be proud of its achievement and recognise that improved safety is largely thanks to continuous crew and shore-staff training, improved ship design, new technology and stronger regulatory compliance,” Mr Fafalios said.

INTERCARGO has vowed to continue to work tirelessly with all stakeholders in order to improve bulk carrier safety and ultimately to strive for the day where there are zero losses of dry bulk ships and seafarers every year. We also point out that the pandemic and recent geopolitical events have generated new challenges for ship and crew safety which INTERCARGO is closely monitoring and voicing its members’ concerns in all available fora.

photo CANVA

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INDICATIVE AGENDA

DAY 1

FRIDAY, SEPTEMBER 20, 202

ARRIVALS AT CHIOS BY AIR OR BY FERRY

13:00: DEPARTURE FROM THE PORT OF CHIOS TO OINOUSSES ISLAND

14:00: WELCOME & TOUR OF OINOUSSES ISLAND BY THE MAYOR, MR. GEORGE DANIEL

LIGHT LUNCH FOR THE PARTICIPANTS AT THE PORT OF THE ISLAND

19:00: DEPARTURE TO CHIOS ISLAND FREE TIME IN CHIOS ISLAND

DAY 2

SATURDAY, SEPTEMBER 21, 2024: 11:00-16:00: “23RD NAVIGATOR 2024 – THE SHIPPING DECISION MAKERS FORUM” AT UNIVERSITY OF THE AEGEAN AND LIGHT LUNCH 19:30 ONW: TRADITIONAL CHIAN FEAST AND DINNER AT ARGENTIKON

DAY 3

SUNDAY, SEPTEMBER 22, 2024

MORNING VISIT AT CHIOS MARITIME MUSEUM PARTICIPANTS DEPARTURES MORE INFORMATION WILL BE ANNOUNCED SOON

Cyprus Shipping Chamber From Montreal to Rotterdam, for Cyprus Shipping

Representing Cyprus Shipping in practice, the Cyprus Shipping Chamber (CSC) on 14 June 2024 participated for yet another year at the Annual General Meeting of the International Chamber of Shipping (ICS) that took place in Montreal, Canada.

On behalf of the Cypriot delegation was CSC’ President Mr. Themis Papadopoulos and its Director General Mr. Thomas Kazakos. Notably, Mr. Papadopoulos continues, for a second term, to hold the honorable office of ICS’ Vice-President. ICS, internationally represents national Professional Associations of Shipowners from more than 40 countries.

Similarly, the Chamber actively participated at the Annual General Meeting of the European Community Shipowners’ Association (ECSA) that took place in Rotterdam, the Netherlands on 19 June 2024.

On behalf of the Cypriot delegation was the immediate past President of CSC and ECSA Mr. Philippos Philis, Mr. Thomas Kazakos and Mr. Nicholas Hadjioannou representing CUS.

In both meetings, participants focused on current maritime policy issues and industry challenges such as the attacks against shipping in the Red Sea, IMO’s negotiation on the reduction of greenhouse gas emissions, issues related to the implementation of the EU Emissions Trading System (EU ETS) as well as the recent EU Parliament elections.

επιδόσεις του. Η Ετήσια Έκθεση 2023-2024 της ΕΕΕ καταγράφει,

προκλήσεις που απασχόλησαν έντονα τη ναυτιλία

στις κύριες

Together. For Better.

We unite for positive change. Collaborating with purpose, we drive innovation, solutions, and a better future. Join us in this journey of impactful outcomes.

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