Another milestone has been reached in Neptune Lines’ Genesis Project, as the steel cutting for MW467-2, the second vessel in its next-generation fleet, took place on February 17, 2025, at Fujian Mawei Shipbuilding Ltd. in Fujian, China. 

The event was attended by the company’s site team, marking the official start of construction for the second of four advanced vessels in this strategic fleet expansion.

As part of Neptune Lines’ commitment to sustainability and efficiency, these 4200 CEU dual-fuel PCTC vessels are designed to increase cargo capacity by 36% while significantly reducing emissions. Equipped with hybrid energy systems, they feature battery installations for peak power, dual-fuel capability (LNG/VLSFO), a high-pressure 2-stroke engine, and shore power connectivity to eliminate emissions at port.
The Genesis Project reflects Neptune Lines’ long-term strategy to modernize its fleet and maintain leadership in sustainable short-sea shipping. With both vessels scheduled for delivery in 2026, Neptune Lines continues to pave the way for a greener and more efficient future in maritime transport.
 

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In a key milestone for maritime decarbonization, the Port of Thessaloniki (ThPA S.A.) has become the first port in the EU and the Mediterranean to integrate RightShip’s Maritime Emissions Portal (MEP) under the HELMEPA-led METAVASEA project, with the support of Lloyd’s Register Foundation.

Through this one-year pilot, Thessaloniki sets a new regional benchmark for sustainability, providing critical insights into value chain (Scope 3) emissions and enabling targeted, data-driven action. This pioneering initiative significantly advances emissions monitoring, empowering ports and shipping stakeholders to track and reduce their environmental impact.

“At ThPA S.A., sustainability is at the core of our strategy. Piloting the MEP reinforces our role in setting new standards in the port industry. By tracking and measuring value chain emissions from incoming vessels, we gain vital insights into the environmental impact of this activity, enabling targeted actions that support “greener” practices in the maritime industry. Beyond our role as a port, we actively engage with the community, ensuring our business practices align with environmental, social, and governance principles. This initiative supports our continuous progress in safeguarding the environment in the local geography we serve, creating social added value” said Athanasios Liagkos, Executive Chairman of the BoD of ThPA S.A. “HELMEPA leads METAVASEA, a collective initiative of maritime stakeholders to advance decarbonization in the Eastern Mediterranean. The initiative strengthens industry participation, assesses preparedness for new fuels and identifies key challenges towards improving operational efficiency in ports and shipping”. said Olga Stavropoulou, Director General, HELMEPA.

Andrew Roberts, Rightship’s Executive Director for EMEA and Americas, commented, “RightShip is delighted to see the adoption of the MEP as part of this innovative pilot program. Partnerships like these highlight the transformative power of technology in driving a cleaner, greener maritime future. This milestone underscores how ports can leverage cutting-edge technology to measure and aid in reducing their environmental impact.” He continued, “The MEP has already become an integral part of the sustainability toolkit for an increasing number of ports worldwide, equipping them with the data and insights necessary to meet environmental targets, drive reduction in emissions, and improve the health of local communities.”

The Director of Skills and Education of Lloyd’s Register Foundation, Dr Tim Slingsby, commented: “In order to drive a just and equitable transition to a decarbonised shipping industry, it’s crucial that we become accountable and install robust measurement frameworks that track performance against sustainability goals and our other targets. Lloyd’s Register Foundation’s long-term strategic investment in METAVASEA is helping convene responsible leaders throughout the maritime system, including The Port of Thessaloniki, and we hope this significant milestone inspires other ports in the Eastern Mediterranean and throughout Europe to join HELMEPA and help deliver safer and more sustainable outcomes both in industry and for our coastal communities.”

The METAVASEA project focusing on People-Centered Transition for Maritime Decarbonisation in the East Mediterranean is coordinated by HELMEPA in collaboration with Lloyd’s Register, World Maritime University (WMU), CYMEPA, CMMI, Premium Consulting, MIO-ECSDE, 12 associate partners, and valuable contributions of more than 70 other stakeholders. Supported strategically and financially by Lloyd’s Register Foundation, the five-year project aims to map the existing infrastructure for maritime decarbonization in Greece, Cyprus and the Eastern Mediterranean, as well as to empower seafarers, port workers, and maritime executives through the development of flexible training tools for retraining.

It is noted that the program provides for the training and re-skilling/up-skilling of 1,500 employees on issues related to new fuels, enhanced safety culture onboard ships and in ports, digital transition, soft skills, environmental leadership and marine environmental awareness-.

Moreover, it seeks to enhance the participation of shipping companies and port organizations in decarbonization initiatives, to measure the level of preparedness of shipping and coastal communities in the use of new fuels, to identify related opportunities, gaps and challenges in the Eastern Mediterranean, to prevent maritime accidents by improving operational efficiency in ship and port operations, and to raise awareness among 10,000 students, 750 teachers and about 2 million inhabitants of the Eastern Mediterranean.
The Maritime Emissions Portal (MEP) is a tool developed by RightShip to monitor, measure, and manage maritime emissions with accuracy and efficiency. ThPA S.A.’s adoption of the MEP reflects its unwavering commitment to sustainability as a cornerstone of its operations. As a multi-gateway intermodal network and logistics solutions provider for the Balkans and the broader Southeast, Central, and Eastern European region, ThPA S.A. has a strong market position and deep ties to the communities it serves. This pilot program enhances its efforts to align operations with global decarbonisation goals and stakeholder expectations.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 
A significant presentation on “Protecting Marine Life, Ship Strikes, and Underwater Noise” took place at the premises of St’ Nicholas Business Club, specifically in the conference room of “DNV HELLAS”.
The event was organized by St’ Nicholas Executive Events, the exclusive and proud partner of St’ Nicholas Business Club, offering high-level event planning and organizing services. This event was held on behalf of OceanCare, IFAW, Pelagos Cetacean Research Institute, and WWF Greece, as well as Arcadia Shipmanagement.
The discussion highlighted the challenges marine mammals face due to ship collisions and underwater noise pollution, with a special focus on the vulnerable sperm whale population in the Hellenic Trench.Innovative solutions were also presented, including the SAvE Whales system. This cutting-edge technology was developed and implemented by OceanCare, Pelagos Cetacean Research Institute, the Institute of Technology and Research (ITE), and The Green Tank, with the support of the Greek government. This system aims to reduce ship strikes in areas where route deviations are not feasible. The system detects sperm whales in real-time and alerts mariners to their presence.

Distinguished speakers that contributed with their expertise are: Capt. Dimitrios Matthaiou – CEO of Arcadia Shipmanagement, Chairman of the Green Award Foundation, Founder & President of St’ Nicholas Business Club, Amalia Alberini – Marine Officer, WWF Greece, Ioli Christopoulou – Partner & Policy Director, The Green Tank, Alexandros Xydias – Policy Advisor & Shipping Expert, OceanCare & IFAW, Capt. Apostolos Skempes – HSQE Manager, DPA & Training Manager, Arcadia Shipmanagement & Andreas Dinkelmeyer – Campaigns Manager, IFAW.

The extensive experienced in marine conservation speakers provided valuable insights into strengthening whale protection measures. The importance of identifying high-risk maritime areas for the shipping companies to avoid, were analyzed. Furthermore, all detrimental effects of ship strikes and underwater noise on marine ecosystems were discussed thoroughly.

Commitment to Shipping Sustainability

Capt. Dimitrios Matthaiou, Founder & President of St’ Nicholas Business Club, CEO of Arcadia Shipmanagement, and Chairman of the Green Award Foundation, emphasized on the urgent need to protect sperm whales in the Hellenic Trench.

He urged Greek shipping companies to follow Arcadia Shipmanagement’s example—being the first Greek shipping company to alter fleet’s routes to avoid the area. He also expressed keen interest in implementing policies to reduce underwater noise across the company’s fleet.

Additionally, he highlighted the pioneering efforts of the Green Award Foundation, which incentivizes shipping companies to adopt proactive measures to reduce ship strikes and underwater noise pollution through its global network of Incentive Providers.

You can access the presentation from the St’ Nicholas Business Club event through the following link: https://www.filemail.com/d/zersucqcpzcngnd
Networking and Conclusions

Following the presentation, guests gathered for a drink at the Executive’s Bar – Hall of A General Group. Attendees continued their discussions in a relaxed setting, enjoying a selection of fine wines from St’ Nicholas Business Club, complemented by a buffet featuring vegan and vegetarian options. It was a great networking opportunity that gave us a thorough insight into protecting marine life.

This event served as an important step in raising awareness and sharing knowledge on marine life protection, reaffirming our commitment to a more sustainable and responsible maritime future.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

AAL Shipping (AAL), a multiple award-winning project heavy lift cargo operator headquartered in Singapore has chosen ABB Ability™ OCTOPUS – Marine Advisory System to optimize operations of their advanced fleet of Super B-Class heavy lift vessels. ABB’s technology will help enhance the safety and efficiency of its cargo-carrying operations.

AAL has currently four 32,000 deadweight tonnage ships in operation and four due for delivery by 2026. The third-generation Super B-Class vessels have been designed for maximum flexibility to transport bulky, heavy and high-value loads. Deployed across varying and often challenging conditions worldwide, the heavy-lift vessels require special attention to ensure that operations are continuously optimized for safety and efficiency.

OCTOPUS is the market leader in motion monitoring and forecasting solutions within the global semi-submersible fleet. Now the demand for the monitoring and operational planning software from the project cargo and offshore wind markets is on the rise.

ABB’s OCTOPUS package for AAL includes response forecasting and motion monitoring, which ensures vessel operations remain within allowable motion limitations. This helps to minimize the risk of damage to the ship and its cargo while also supporting route planning optimization. By maximizing fuel consumption efficiency, the feature also contributes to reduced carbon emissions per transported cargo unit.
“As a provider of a total multipurpose shipping solution, we have earned a reputation amongst our global client base for providing best-in-class shipping operations built on reliability and efficiency,” said Nicola Pacifico, Head of Transport Engineering at AAL Shipping. “ABB’s OCTOPUS system provides us with unparalleled decision-making support. A key area of benefit is when we are sailing with the ‘AAL Eco-Deck’ in place along the starboard side of the vessel. When either using or planning to use the Eco-Deck, ABB’s OCTOPUS technology can aid us in monitoring and forecasting the potential reaction of our vessel to various modelled wave and weather conditions – crucial to planning safe and efficient sailings.”

“Our OCTOPUS technology enables a wide range of shipping companies to operate leaner and cleaner,” said Jaap-Jan Stoker, Global Solutions Manager, ABB Marine & Ports. “When it comes to monitoring and forecasting vessel motions, we have been the industry standard in segments such as container shipping and semi-submersibles for many years. Now other segments such as project cargo and offshore wind transportation also seek to gain enhanced insight into vessel motions to enable safer passage in varying weather conditions.”

According to Data Horizon Research the multi-purpose vessel market has been experiencing steady growth in recent years, driven by increasing global trade activities and the versatility of these vessels. The market has seen a shift towards larger and more technologically advanced vessels, capable of handling diverse cargo types while maintaining fuel efficiency and reducing environmental impact.

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this ‘Engineered to Outrun’. The company has over 140 years of history and around 110,000 employees worldwide. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). www.abb.com
ABB’s Process Automation business automates, electrifies and digitalizes industrial operations that address a wide range of essential needs – from supplying energy, water and materials, to producing goods and transporting them to market. With its ~20,000 employees, leading technology and service expertise, ABB Process Automation helps process, hybrid and maritime industries outrun – leaner and cleaner. go.abb/processautomation 

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

By Mr Anastasios A Maraslis, Founder & President of Marasco Marine Ltd*. & Founder & President of Shipowners Trust International Corp.

 
For small and medium-sized shipowners operating fleets of 4 to 12 vessels, running a successful shipping business today requires more than just managing daily operations. Freight market volatility, rising insurance costs, regulatory changes, and operational inefficiencies create financial and operational uncertainty, making it harder for smaller fleet operators to compete with larger, more resourceful shipowners.
Unlike bigger players who have dedicated risk managers and financial teams, small and medium-sized owners often lack the structured tools to optimize their fleet’s performance. Many operate reactively, dealing with one problem at a time rather than implementing a proactive, integrated strategy to ensure long-term stability.

This is where the Systems Approach to Ship Management comes in—a structured, strategic methodology that integrates financial planning, risk prevention, operational efficiency, and adaptability into a cohesive framework.

For over 34 years, since its establishment in 1991, Marasco Marine Ltd has been focused on helping small and medium-sized shipowners survive and thrive—particularly in freight recessions and highly volatile markets. By applying the Systems Approach, Marasco has successfully helped shipowners regain control, optimize costs, and improve their financial and operational resilience.

Why Traditional Management Fails for Smaller Fleets

Most small and medium-sized shipping companies manage their business in a fragmented way, focusing on individual aspects rather than looking at the big picture. This leads to:

 Freight revenues being disconnected from insurance costs and operational expenses.
 Overpaying for insurance due to inefficient policy structures and unnecessary overlaps.
 Operational costs increasing without proper visibility, leading to cash flow shortages.
 Frequent marine claims that drive insurance premiums higher, impacting long-term profitability.
In contrast, successful fleet operators apply a Systems Approach, ensuring that every aspect of their business is interconnected and optimized.

The Systems Approach: A Smarter Way to Manage a Shipping Business

Instead of treating insurance, operations, and financial management as separate concerns, the Systems Approach integrates them into a single, adaptable strategy that enables shipowners to control costs, manage risks, and build resilience.

Step 1: Establish a Centralized Financial Monitoring System

A structured financial dashboard consolidating freight income, insurance costs, and operational expenses.
Regularly updated for real-time decision-making and risk assessment.

Allows shipowners to detect hidden inefficiencies before they escalate into financial problems.
 Example: A shipowner with three bulk carriers was struggling with unstable cash flow due to rising insurance costs and uncontrolled crew travel and medical expenses. By applying a structured financial monitoring system, he optimized his expenses and reduced his insurance and crew travel costs by 30%.

Step 2: Align Insurance Costs with Operational Strategy

Benchmark premiums against market standards to avoid unnecessary overpayment.
Adjust war risk coverage and deductibles based on actual trade routes and risk exposure.
Risk Prevention: Analyze claims history to detect and prevent recurring incidents that drive up premiums.
 Example: A company managing six dry bulk carriers was unknowingly paying 15% more in premiums due to overlapping policies and inefficient claims management. Marasco Marine Ltd restructured their coverage, reducing annual insurance costs by USD 120,000.

Step 3: Control Operational Costs Without Sacrificing Efficiency

Monitor crew costs, including overtime and travel expenses, to reduce unnecessary expenditures.
Optimize fuel consumption and bunkering strategies to avoid excessive costs.
Risk Prevention: Implement predictive maintenance schedules to prevent unexpected machinery breakdowns.
 Example: A shipowner with five tankers implemented a predictive maintenance strategy that reduced machinery damage claims by 40%, leading to lower insurance premiums and fewer disruptions in operations.

Step 4: Proactive Risk Prevention to Lower Claims & Insurance Premiums

Reduce machinery damage claims through structured maintenance, risk prevention programs.
Improve crew safety and onboard procedures to minimize liability claims.
Ensure efficient claims handling to secure faster settlements and avoid financial strain.
 Example: A fleet of seven bulk carriers implemented Marasco’s proactive claims management strategy, reducing their claim frequency and securing a 7.5% reduction in their overall insurance premiums.

Step 5: Strengthen Cash Flow & Long-Term Financial Stability

Align cash reserves with operational needs to maintain liquidity in volatile markets.
Adjust freight pricing strategies based on actual cost structures, not assumptions.
Develop structured payment plans for major expenses like dry-docking.

 Example: A shipowner managing six vessels applied Marasco’s structured financial system, resulting in:

Better visibility over cash flow, eliminating surprise shortfalls.

More predictable insurance and maintenance expenses, improving financial planning.
USD 200,000 in annual cost savings, enabling long-term growth and stability.

Why This Matters: A Long-Term Strategy for Success

Small and medium-sized shipowners who fail to implement a structured Systems Approach to ship management struggle to remain competitive. Operating in a volatile industry without financial and operational visibility means constantly reacting to cash shortages, rising premiums, and inefficiencies.
With Marasco Marine Ltd’s expertise, shipowners can take control of their business through an integrated strategy—reducing unnecessary expenses, optimizing risk management, and ensuring financial resilience.

For over 33 years, Marasco Marine Ltd has helped small and medium-sized shipowners take control of their business, reduce financial uncertainty, and build long-term resilience. The Systems Approach is a proven strategy that allows shipowners to navigate market challenges, optimize their operations, and achieve sustainable success.

* Marasco Marine Ltd, was founded in 1991, by Mr Anastasios Maraslis. Marasco is specialising in Managing Marine Risks and Risk Prevention Planning, serving the last 33 years, Ship Owners, Ship Managers and Ship Operators, with his experienced marine/ claims insurance team and the company’s Board of Advisors, Internationally Acknowledged. More about Marasco Marine at: www.marasco-marine.com

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mr. Nicolas Bornozis, President – Capital Link, Inc. opened the proceedings of the forum noting that on April 4th a special event called invest in Cyprus will take place in New York promoting Mr. George A. Tsavliris, Principal – Tsavliris Salvage Group Conference Chairman presented Marina Hadjimanolis Shipping Deputy Minister to the President Republic of Cyprus.

In her speech Mrs Marina Hadjimanolis thanked the Cypriot Union of Shipowners (CUS) and welcomed the audience at the Limassol the Cyprus’ capital of shipping.

She marked that 2025 will be a challenging year to face the challenges of sustainability and digital transformation adopting innovative solutions and efficient strategies.

We aim at a maritime center of excellence and customer orientated registry. She outlined that a significant increase of gross registered has been achieved during the last years.

Cyprus is a strong advocate of sustainable shipping focusing on 3 main pillars innovation collaboration and compliance with IMO requirements.

KEYNOTE PRESENTATION FOLLOWED BY A 1X1 DISCUSSION

In this session Mr. Nicolas Montanios, Partner – Montanios & Montanios LLC interviewed Mrs Marina Hadjimanolis regarding the strategies and the future plans of the Cyprus ship Registry.

Ms Hadjimanolis expressed her determination to embrace change making the industry more resilient and prosperous. She marked that Cyprus is one of the best flags in the world with quality service and flexibility. A great variety of shipping activities are placed at Limassol from the ship owing & Shipmanagement to logistics and legal insurance and other related entities. Cyprus is a sovereign flag with a history of 60 years which was cultivated by pioneering Cypriot shipowners and other shipping personalities.

Cyprus has solid foundations to continue the legacy and development of the shipping sector.

The government intends to strengthen the Human Resources in the Cyprus department of shipping and the cooperation with the maritime industry offering incentives for the green shipping and taking the necessary initiatives with Cymepa to attract young people to the shipping profession.

Cyprus also gives tremendous emphasis in building strong shipping relations with other countries such as Hong Kong Katar Oman and of course as a European Union member to lobby in EU for promoting the interests of the EU shipping sector to remain competitive and profitable. The education of seafarers is also an important issue that’s why Cyprus has a strategic plan to attract young people in the shipping profession and continue the fruitful cooperation with academies like Tsakos Nautical Academy in Chios and Mediterranean Nautical Academy in Piraeus and LARNACA.

She noted that Maritime Cyprus of 2025 will take place on October 6th.

Concluding Mr Tsavliris mentioned also that what Cyprus has achieved in the last years is a great miracle compared with the size of the country however due to the strong will and determination of the people that are involved in this dynamic industry Cyprus is one of the largest shipping nations in the world with a growing and expanding ship Registry.

Mr. Ezekiel Davis, Vice President, Regional Business Development, Europe – ABS FLEET decoded EU ETS & FUEL EU and referred to the implications, challenges & opportunities. He explained the importance of fleet pooling and focused on the reliable data for managing financial exposure of the company and updating commercial contracts to include terms for the coverage of FUELEU and EUETS.

The positive impact is that working with these regulations you can optimize their operations and comply with environmental standards.

Finally, he referred to ABS solutions and services on these critical areas.

COMPETITIVENESS IN THE ENERGY TRANSITION ERA: FUEL CHOICES, UPGRADES & RENEWAL STRATEGIES

The panel was moderated by Dr. John Kokarakis, Technical Director, SEEBA Zone – Bureau Veritas. The following prominent figures participated as Panelists: Ms. Alkistis Kyriakopoulou, Chief Business Officer – DeepSea Technologies, Mr. Konstantinos Stampedakis, Co-Founder & Managing Director – ERMA FIRST GROUP, Mr. Aristides Pittas, Chairman & CEO – Euroseas Ltd. (NASDAQ: ESEA) & EuroDry Ltd. (NASDAQ: EDRY), Mr. Philippos Philis, Chairman & CEO – Lemissoler Navigation Co. Ltd, Dr. Loukas Barmparis, President – Safe Bulkers, Inc. (NYSE: SB)

Mr. Stampedakis mentioned some decarbonisation technologies like duct fins air lubrication and carbon capture systems.

Mrs. Kyriakopoulou explained how collection of high frequency data can improve the efficiency of ship. Therefore, the investment on quality collection of data using sensors and exploiting the existence of a qualified team can benefit to the fleet overall performance and efficiency.

Barmparis said that dual fuel vessels are more expensive and what fuel will prevail lies in the future therefore ordering a newbuilding is a difficult task.

Safe Bulkers has two kamsarmax with methanol fuel as it is a safer solution for the future and already exists.

Mr. Pittas mentioned that his company has retrofitted all vessels with fuel saving equipment which is an important measure that can improve the ships’ efficiency up to 25% and at the end of the day we have to follow IMO regulations to contribute to the carbon emissions reduction.

Mr. Phillis told that the majority of dual fuel vessels are methanol powered because of its a maturing technology. His company has covered 75% of its needs for alternative fuels signing future contracts to offset the potential deficit that will be presented from 2029 and onwards.

All speakers noted that what we need is uniformity and clarity in the decarbonisation process although Trump is not in favor of the environmental protection measures.

Mr. Pittas pointed out that we are more European and we care about the climate change and we should follow IMO rules trying to balance between the various aspects and implement realistic and viable solutions.

In any case IMO rules must be carbon and technology neutral.

CHARTING A NEW COURSE: SHIP FINANCE OPTIONS & STRATEGIES AMID CHANGING MARKET DYNAMICS

The panel was moderated by Ms. Ester Toumpouris, Deputy Head of Office (Limassol) – Hill Dickinson LLP and the following speakers were appointed as Panelists: Mr. Nicholas Pavlidis, Head of Shipping – Bank of Cyprus, Mr. Hugues Calmet, Senior Vice President Head of DNB Athens Representative Office – DNV, Mr. Aris Patounas, Head of Shipping – Hellenic Bank, Mr. Ronis Kyperesis, Head of Accounting and Finance – Pelagic Partners; CFO – Hartmann Holdings.

All the speakers stated that over regulation and unilateral measures hurt the industry therefore the financial institutions must be able to meet the needs and requirements of their clients to ensure that they have adequate financial resources to implement the new environmental standards towards the energy transition in shipping.

AI IN MARITIME OPERATIONS: SUCCESSFUL ADOPTION AND RISK MANAGEMENT STRATEGIES

The topic was presented by Ms. Christina Orfanidou, Director, AI & Data – Deloitte Cyprus.

Mrs. Orfanidou pointed out that AI is not a matter of technology but rather an issue of human culture, appropriate architecture and engagement of stakeholders.

OPTIMIZING SHIP MANAGEMENT: BALANCING SAFETY, INNOVATION, SUSTAINABILITY, REGULATION, & NEW TRADE DYNAMICS

The panel was moderated by Ms. Anthi Miliou, Global Maritime Commercial Director – Lloyd’s Register and the following prominent Panelists: Mr. Mark O’Neil, President & CEO – Columbia Group; Former President – InterManager, Mr. Dieter Rohdenburg, CEO – InterMaritime Shipmanagement Ltd., Mr. Spyros Vlassopoulos, Managing Director – Ionic Group.

Mr. Vlassopoulos underscored that the biggest challenge of today is to achieve the decarbonisation goals combining technological advancements and regulatory conformity.

Another one great challenge is the digital transformation. The future of Shipmanagement lies with the regulatory agility and technological innovation.

Mark O’ Neil told that technology will be the forcing power for adopting renewable sources and green energy improving the efficiency of our industry.

On the same time shimpmanagemnt companies must focus on human resource management which is also very important, one stop shop and value-added service for optimizing operations.

Mr. Vlassopoulos referred to the role of new technology in eliminating management burden and operational risks.

Mr. Rohdenburg said that you have to develop a safety culture training people according to the highest standards.

Speakers discussed the importance to train and up skilling the people onboard and in the office on the proper familiarization of the alternative fuels and also commented on the strategies adopted to attract young people in the shipping sector.

NAVIGATING NEW CURRENTS IN CYPRIOT & GREEK WATERS: TRENDS & DEVELOPMENTS IN MARITIME FINANCE

The above topic was by presented by: Mr. Andreas Papachristodoulou, Partner – Stephenson Harwood

NAVIGATING THROUGH TURBULENCE & TRANSFORMATION - SHIPPING MARKETS IN MOTION - DEVELOPMENT & OUTLOOK

Presented by: Ms. Angelica Kemene, Head of Market Analysis & Decarbonisation Strategies – Optima Shipping Services

TRENDS & OUTLOOK FOR GLOBAL COMMERCE, ECONOMY & SHIPPING CHARTERERS’ INSIGHTS

The panel was Moderated by Mr. Polys Hajioannou, CEO – Safe Bulkers, Inc. (NYSE: SB); Vice President – Cyprus Union of Shipowners and the following Panelists discussed the issue: Mr. Mohammed Bin Battal, President – Bahri Dry Bulk, Mr. Robert Schreve, Senior Freight Trader – Olam Agri.

According to a speaker the most important challenges in the Middle East region is the port infrastructure and the appropriate partnerships to address the environmental requirements.

The speakers don’t expect that tariffs will have a major impact on the dry bulk market however the rates will follow a volatile and unpredictable pattern. Regarding the compliance of the environmental they take them into consideration and they prefer to charter energy efficient and eco-friendly ships.

Despite the geopolitical events the speakers expect that the dry bulk sector will recover in the next 1-2 years due to the increase of world’s population and the improvement of prosperity. Additionally, if a peace agreement is achieved between Russia and Ukraine then the market will continue to grow.

They commented on the importance of digitalization process in shipping which affects the ships’ performance and efficiency.

In all cases market volatility, it’s an opportunity to improve the overall performance and quality of ships.

The speakers referred to the FFA market which is a useful and essential tool managing and hedging the charterers’ risks.

DIGITALIZATION & CYBERSECURITY – CHALLENGES & STRATEGIES FOR THE MARITIME INDUSTRY

The panel was moderated by Mr. George A. Tsavliris, Principal – Tsavliris Salvage Group; Conference Chairman. The following l Panelists discussed the above topics: Mr. Alexander Oswald, Group Director IT – Columbia Group, Mr. Russell Kempley, Chief Propositions and Security Officer – CyberOwl, Mr. Panos Theodossopoulos, CEO – Metis.

The digitalization vendors have a critical mission to assist the shipping industry to minimize the carbon emissions until an alternative fuel is adopted and assess the vessels’ efficiency.

1X1 DISCUSSION - SHIPPING – SAILING THROUGH TRANSFORMATION & DISRUPTION

Mr. Nicolas Bornozis, President – Capital Link, Inc. interviewed Dr. Anil Sharma, Founder and CEO – GMS & Lila Global.

NAVIGATING THE GLOBAL SHIPPING LANDSCAPE & SHIPOWNERS’ INSIGHTS

The shipowners’ panel was moderated by Mr. George Teriakidis, Regional Manager for Southeast Europe – DNV Maritime and the following distinguished panelists were appointed the discussion: Capt. Stephanos E. Angelakos, CEO – Angelakos (Hellas) S.A., Mr. Andreas Hadjiyiannis, CEO – Cyprus Sea Lines / Hellenic Tankers; President – Cyprus Union of Shipowners, Ms. Semiramis Paliou, CEO – Diana Shipping Inc. (DSX); Chairperson – HELMEPA & INTERMEPA, Mr. George Mouskas, CEO – Olympic Ocean Carriers / Zela Shipping, Mr. Polys Hajioannou, CEO – Safe Bulkers (NYSE:SB); Vice President – Cyprus Union of Shipowners, Ms. Nicole Mylona, CEO – Transmed Shipping Co.

The panel asked what are the main challengers of shipping.

Mr. Angelakos told that the financial sector has changed dramatically with China entering very dynamically. Another one challenge is the increased protectionism and the de globalization of the trade.

Paliou supported that keeping the company and finding talented people with new competencies and skills in order to remain competitive and reliable.

New regulations the coming constantly is the major challenge and this has a tremendous impact to the renewal of the fleet according to Mr Mouskas.

Continuity adaptability and flexibility for a shipping company are the major challenges facing Ms Mylona.

Mr. Hajioannou is concerned about the decarbonisation process however he marked that market is not predictable and therefore you must be creative.

Tackling the unpredictability of the market was the 2nd question of the moderator. Angelakos follows a diversification policy to face the volatility of the market.

Maintaining low leverage and strong liquidity is the main motto for Ms Paliou until the market recovers. Other strategies are collaboration with other stakeholders and banks. The speakers agreed to meet the decarbonisation challenges of 2050 is so tremendous and the expense so vast that collaboration is essential between all stakeholders in shipping to find the right solutions focused on realistic solutions. Mr Mouskas said that it is not shipowners’ responsibility to provide the sustainable fuels but suppliers’ task to cooperate with engine manufacturers and provide the carbon neutral fuel.

In Hadjioannou’s experience the beauty of shipping is the market volatility and the capability to predict the market in order to optimize your company’s operations and commercial profitability.

Mr. Mouskas commented on IT and cybersecurity saying that everyone must be aware and vigilant about these challenges following training programs onboard and in the office. All speakers agreed that the Greek shipping industry is well aware what is happening with cyberattacks in the communication systems to protect the ships and the companies in the best possible extend.

The last question was the problem of the crew shortage. Angelakos told that as a captain he tries to be close to the ships’ crew and adopting regular training programs.

Seafaring scarcity will be the problem of the future according to Paliou and moreover seafarers have be reskilled and up skilled to adapt to the technology requirements.

Other measures include connectivity with their families, private medical insurance and monitoring of the medical care etc.

Ms Mylona focuses on improving the qualifications and retain the competent and skilled seafarers and providing performance incentives. Mr Hadjioannou also told that the crew count very much if you care of the safety and health of your employees asking if we trade in Black Sea and Suez Canal.

The CLOSING REMARKS made by Mr. George A. Tsavliris, Principal – Tsavliris Salvage Group Conference Chairman.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

After the acquisition of Altera Shuttle Tankers L.L.C. by Maistros Shiptrade Limited on January 16, 2025, Altera Shuttle Tankers L.L.C. (AST) has changed name to Maran Shuttle Tankers L.L.C.

A filing on the Euronext Oslo Børs revealed on Tuesday that Altera Shuttle Tankers L.L.C. has changed name to Maran Shuttle Tankers L.L.C. with effective date on and from 17 February 2025.

Angelicoussis Group affiliate Maistros Shiptrade Limited made a major deal last year to take over Altera Shuttle Tankers for an undisclosed sum in a major move into the sector.

Maistros Shiptrade Limited is a company affiliated with the Greek Angelicoussis Group, a large privately owned shipping group, with 144 vessels on the water and 23 vessels (including three shuttle tankers) on order.

Through Athens-based companies, Maran Tankers Management, Maran Gas Maritime and Maran Dry Management, the Group operates a diversified fleet serving the oil, gas and dry cargo markets.

“AST’s long-standing relationships and highly sophisticated fleet of tankers, combined with a common culture of excellence and commitment to a sustainable future, mean that together, AST and our Group are firmly positioned to offer best-in-class services to clients across the expanding shuttle tanker market”, said Maria Angelicoussis, CEO of the Angelicoussis Group.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The latest addition to DryDel’s fleet, M/V Capri Island, a 40,000-dwt handysize was delivered recently in view of the company’s ambitious newbuilding program.

The vessel joined DryDel’s long-term chartered-in fleet from close Japanese owners in February.

The vessel was built at Namura Shipbuilding Co Ltd (Imari Shipyard) and its efficiency showcases the unmatched quality of Japanese engineering.

The company expressed its deepest appreciation to Mr. Fotis Mourikis, DrydDel’s Director-Head of Business Development, who served as the godfather during this traditional naming ceremony.

Despite the challenging market, the company intends to expand its fleet in the future ahead!

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

According to the latest evaluations, Panama has achieved a 96.5% compliance rate with international maritime safety and environmental protection standards. This milestone reinforces the quality and credibility of the Panama Ship Registry, ensuring a modern, well-maintained fleet that adheres to global regulations.

The Panamanian fleet undergoes regular evaluations based on criteria established by key international frameworks, including various Memoranda of Understanding (MoUs) such as Paris, Tokyo, the Mediterranean, the Indian Ocean, the Black Sea, the U.S. Coast Guard, the Caribbean, Riyadh, Abuja, and the Viña del Mar Agreement.

In its ongoing efforts to enhance fleet quality, the Panama Maritime Authority (PMA), through the General Directorate of Merchant Marine (DGMM), has intensified its oversight, removing vessels from the registry that fail to meet stringent safety and compliance standards.

This fleet optimization strategy has further demonstrated Panama’s commitment to excellence and sustainability. The latest World Fleet Monitor report from Clarksons Research reflects this, ranking Panama favorably as the flag state for 15% of the world’s merchant fleet tonnage.

"We maintain a zero-tolerance policy against any misuse of the Panama Ship Registry. We are not a shelter for sanction evasion. Our priority is to attract modern, newly built vessels that fully comply with international regulations," stated Ramón Franco, Director General of the DGMM.

According to DGMM data, Panama's Ship Registry recorded a net growth of 468 vessels in 2024. As reported by IHS Markit, the registry closed the year with a total of 8,773 ships and 248.8 million Gross Register Tonnage (GRT).

As part of Panama’s strategy to attract modern and sustainable vessels, 2024 saw the registration of 408 newly built ships, contributing over 9.4 million GRT. This growth highlights the exclusive advantages offered by the Panamanian flag, a key factor in maintaining its position as the world’s leading ship registry, as emphasized by Director Franco.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

AMMITEC, the professional association for IT managers in the Shipping industry, hosted its annual "Pita Cutting" ceremony at the Istioploikos restaurant in Piraeus. The event, which has become a cornerstone of the maritime technology calendar, drew an unprecedented gathering of over 360 members, sponsors and industry leaders.

The vibrant celebration showcased the continued growth of AMMITEC's influence, with attendance surpassing previous years. Members and sponsors enjoyed an evening of strategic networking and the much-anticipated lottery featuring premium prizes contributed by AMMITEC's dedicated sponsors.

Building on its founding vision from 2003, AMMITEC has evolved into an indispensable force in maritime technology innovation. The organization's journey spans more than two decades of fostering digital transformation and technological advancement in the shipping industry.

The 'Pita Cutting' ceremony concluded on a high note, with attendees enjoying music, cocktails and animated networking that continued well into the evening, reflecting the dynamic spirit of the maritime technology community.

About AMMITEC: AMMITEC stands as the leading professional association for IT managers in the shipping industry. Since its establishment in 2003, the organization has been instrumental in facilitating knowledge exchange, fostering professional networks and driving technological innovation within the maritime sector. Through its initiatives, AMMITEC continues to shape the future of maritime technology and digital transformation.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.