Capital Ship Management Corp. took delivery of the newbuilding vessels M/T ‘Aisopos’ (‘ΑΙΣΩΠΟΣ’) and M/t ‘Aiolos’ (‘ΑΙΟΛΟΣ’), two 115,621 dwt, eco-type crude oil/product carriers, built by New Times Shipbuilding (NTS), China.

Lloyd's Register has assigned the two sister vessels the top classification, holding the 100A1 notation. They adhere to strict construction and maintenance standards for enhanced safety and reliability in operation.

Both vessels incorporate advanced technology to meet modern environmental and operational standards. They are the first newbuild tankers ever to be installed with certified AMP (cold ironing) and are equipped with a shaft generator to improve EEDI, CII, and DFOC. The vessels are IMO EEDI Phase III compliant and LNG ready, showcasing their readiness for future energy transitions. Additionally, they feature an energy-efficient device, including a VFD for large pumps and fans, and a high-efficiency rudder. Additionally, they are cybersecurity certified by Loyd’s Register to ensure safe and secure operations.

M/T ‘Aisopos’ and ‘Aiolos’ proudly sail under the Greek flag, marking a significant milestone, as they are the first Greek-flagged vessels delivered by NTS.

Delivery festivities were well attended by high-ranking officials from Capital, NTS, and other organizations and companies.

About Capital Ship Management Corp.

Capital Ship Management Corp. is a distinguished oceangoing vessel operator, offering comprehensive services in every aspect of ship management, currently operating a fleet of 32 tankers (13 VLCCs, 6 Aframaxes, and 7 MR/Handy product tankers) with a total dwt of 6 million tons approx.

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A generous initiative has been undertaken by Konstantinos Samaritis, Head of Piraeus office and Divisional Director Claims of Britannia P&I to mark the importance Sailors’ welfare.

He stated that he is quite thrilled to be running the London Marathon in April for the team Sailors’ Society.

It is the 45th year of the London Marathon, the largest one-day fundraising event in the world. A legendary 26.2 mile course which takes you from Blackheath, passes the iconic Cutty Sark, goes over the world-famous Tower Bridge and through Canary Wharf before finishing on The Mall in front of Buckingham Palace.
Sailors' Society is a global maritime welfare charity supporting seafarers and their families in need, day and night, 365 days a year. Seafarers will always be at the heart of all we do.

Just over three months left to attain my GBP 2,000 fundraising target!

Konstantinos calls everyone who would like to support his efforts to donate through his fundraising page: https://lnkd.in/d-Tj2v3z

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Laskaridis Shipping Company Ltd., has signed a Memorandum of Understanding (MoU) with Liverpool John Moores University (LJMU) in order to establish a collaborative partnership aimed at advancing technological innovation and sustainability in the maritime sector.

This strategic partnership combines LJMU's academic excellence with Laskaridis Shipping's industry expertise to address pressing challenges in shipping. The collaboration will explore cutting-edge projects, including data-driven innovation, experimental research, and proposals for external funding to enhance operational efficiency and sustainability within the industry.

Georgios Christopoulos, chief operating officer of Laskaridis Shipping, said: “Partnering with LJMU opens new pathways for innovation. Together, we can leverage data, research and experimental methods to address industry challenges and shape a sustainable future.”

The partners will explore experimental methods and data analytics to produce working insights and develop simulation tools benefiting academic and practical applications.

They also aim to integrate technology that enhances the environmental performance of maritime operations. The university will gain access to a wealth of industry data, while the shipowner hopes to improve the bottom line.

Dr Eddie Blanco-Davis, Reader in Marine Engineering in the School of Engineering, leading the initiative on behalf of LJMU, said: “This partnership embodies our shared commitment to driving progress and sustainability in maritime operations. By uniting academic rigour with industry know-how, we aim to produce solutions that not only advance technology but also contribute to achieving global environmental goals.”

The Key aspects of the partnership include:

• Innovative research - joint exploration of experimental methods and data analytics to produce actionable insights and develop simulation tools benefiting both academic and practical applications
• Sustainability goals - collaborative efforts to integrate technology that enhances the environmental performance of maritime operations
• Mutual growth - access to a wealth of industry data for LJMU while Laskaridis Shipping benefits from academic advancements, improving financial and operational performance.

This MoU marks a significant step toward strengthening the global academic-industry network in maritime innovation, with a shared vision to ensure long-term benefits for both parties. The initial agreement spans three years, with the possibility of renewal based on the success of the partnership.

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A new report from HEMEXPO, the leading Greek marine equipment manufacturers and exporters association for the international shipping industry, has highlighted the association’s significant contribution to the Greek economy during 2021-2022.

The third study of its kind, conducted by the Foundation for Economic and Industrial Research (IOBE) and presented by its General Director, Professor Nikos Vettas, provides an updated assessment of the importance of Greek marine manufacturing companies to the country’s economy. The report explores HEMEXPO’s substantial economic contribution, illustrating an impressive growth trajectory over the last decade for HEMEXPO member companies. It also highlights the challenges faced during this time and offers several policy recommendations that could support the sector’s continued development.

Ms. Eleni Polychronopoulou, President of HEMEXPO said, “The sector’s remarkable contribution to the Greek economy results from the outstanding achievements of HEMEXPO’s member companies. Success has not been without its challenges though, and we have had to adapt to factors out with our control which has required a tremendous amount of resilience. However, between 2014 and 2022, the companies more than tripled their total turnover, reaching €677 million, showcasing significant growth over this period.

“Going forward, HEMEXPO will continue to support its member companies in reaching their full potential by addressing challenges head-on as we aim to secure a more sustainable and competitive future.”

In 2022, HEMEXPO's total contribution to the Greek economy reached €2 billion, nearing 1% of the country's GDP. Additionally, the activities of HEMEXPO's companies and their suppliers generated fiscal revenues of €312 million, underlining the Hellenic marine equipment sector's undeniable importance to the country.

The study also shows HEMEXPO member companies currently employ over 2,900 people, with the total employment impact reaching 13,400 positions as each job supports a total of 4.4 jobs in the Greek economy.
Challenges referenced included access to foreign markets – particularly in Asia - obtaining necessary certifications and adapting to increasingly strict international environmental regulations. 

Marine equipment manufacturing: Trends, prospects, and contribution to the Greek economy is available to read in full, and can be accessed here.

HEMEXPO – Hellenic Marine Equipment Manufacturers and Exports – is a leading suppliers and exporters association for the shipping sector, representing Greek maritime technology specialists worldwide since 2014. 
HEMEXPO brings together Greek companies that manufacture and export a comprehensive range of world class marine equipment and technical services used in the construction, conversion, maintenance and upgrading of ships and other marine structures.

Image: Ms. Eleni Polychronopoulou, President of HEMEXPO

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The 15^th Annual Capital Link Greek Shipping Forum will be held in Athens on Friday February 7, 2025. The event is organized in cooperation with New York Stock Exchange and Nasdaq, and DNV.

The institutional leadership of global shipping, specifically IMO Representative, the heads of four global industry associations: BIMCO, INTERCARGO, INTERTANKO & The International Chamber of Shipping, high level representatives from the European Union, the Greek Minister of Shipping and Insular Policy, the Heads of Classification Societies, Global Heads of Shipping, Major Global Investors, will all attend the forum.

The agenda will focus on three main areas:

• the industry’s main trends and challenges
• the opportunities that lie ahead and strategies to complete in an increasingly complex and demanding world. This event will focus on three main areas: The current trends and outlook of the global economy and the main commodity, energy and shipping markets
• The critical challenges the industry faces today related to geopolitical and regulatory developments, such as compliance with decarbonization, trade sanctions & tensions, and the transformational impact of technology
• As usual, Maritime Finance will be the core subject with focus on bank finance, capital markets, alternative funding mechanisms and private equity.

With 1000+ participants every year, attendees can expect an informative networking forum connecting them to the shipping industry’s key players, including influential members in the financial community, such as commercial and investment banks. This one-day conference, known for its large attendance by shipowners, its rich informational content and the extensive marketing, networking and business development opportunities.

To attend the event please register at this link : https://forums.capitallink.com/shipping/2025greece/

KEYNOTE SPEAKERS

• H.E. Christos Stylianides, Minister of Maritime Affairs & Insular Policy - Hellenic Republic
  • Mr. Apostolos Tzitzikostas, Commissioner- European Commission for Sustainable Transport & Tourism (via webcast)
  • Dr. Dorota Lost-Sieminska, Director - Legal Affairs and External Relations Division – International Maritime Organization (IMO)
  • Ms. Fotini Ioannidou, Director - EUROPEAN COMMISSION, DG for Mobility & Transport
  • Ms. Elissavet Vozemberg – Vrionidi, Chair, Committee on Transport and Tourism - European Parliament

FEATURED SPEAKERS

Heads of Industry Associations

• Mr. Nikolaus Schües, President & Chairperson of the Board – BIMCO ; CEO - Reederei F. Laeisz
• Mr. John Xylas, Chairman - INTERCARGO ; President & CEO - Ariston Navigation Corp.
• Mr. Emanuele Grimaldi, Chairman - INTERNATIONAL CHAMBER OF SHIPPING ; President & MD; Managing Director - Grimaldi Euromed SpA; Grimaldi Group
• Dr. Nikolas P. Tsakos, Founder & CEO - TEN Ltd. (NYSE: TEN) ; Chairman - INTERTANKO (2014-2018)

Global Heads of Shipping

• Mr. Philipp Wünschmann, Head of Shipping – Berenberg
• Mr. Chris Conway, Managing Director, Global Head of Transportation – Export Agency Finance - Citi
• Mr. Christos Tsakonas, Global Head of Shipping - DNB
• Mr. Evan Cohen, Managing Director & Group Head of Maritime Finance - First Citizens Bank

AGENDA

Mr. George Teriakidis, Regional Manager for Southeast Europe – DNV Maritime

Mr. Nicolas Bornozis, President – Capital Link, Inc.

SHIPPING & TRADE IN A SHIFTING WORLD- CHALLENGES & OPPORTUNITIES

Moderator: Mr. Michalis Pantazopoulos, Senior Vice-President – Liberian Registry (LISCR Hellas)

Panelists:

• • Mr. Elias Triantafyllidis, Regional Bulk Carrier Segment Director, South East Europe Region – DNV Maritime
• • Dr. Gaby Bornheim, President – German Shipowners' Association (VDR)
• • Mr. Tim Wilkins, Managing Director – INTERTANKO
• • Mr. Gordon Robertson, Head of Greece – NorthStandard
• • Mr. Joe Kramek, President & CEO – World Shipping Council

FUEL & FLEET STRATEGIES: DRIVING THE SHIPPING ENERGY TRANSITION

Moderator: Mr. Ezekiel Davis, Vice President, Regional Business Development, Europe – ABS

Panelists:

• • Mr. Mark O'Neil, President & CEO – Columbia Group; President – InterManager
• • Mr. Mikki Koskinen, Managing Director – ESL Shipping Ltd.; Vice President – European Community Shipowners’ Associations (ECSA)
• • Mr. Polys Hajioannou, CEO – Safe Bulkers (NYSE: SB); Vice President – Cyprus Union of Shipowners
• • Mr. Hing Chao, Executive Chairman – Wah Kwong Maritime Transport Holdings; Co-Founder & Chairman – Hong Kong Chamber of Shipping

BANK FINANCE PANEL

Moderator:  Mr. Jasel Chauhan, Partner, Head of International Finance – Hill Dickinson LLP

Panelists:

• • Mr. Philipp Wünschmann, Head of Shipping – Berenberg
• • Mr. Chris Conway, Managing Director, Global Head of Transportation – Export Agency Finance – Citi
• • Mr. Christos Tsakonas, Global Head of Shipping – DNB
• • Mr. Evan Cohen, Managing Director & Group Head of Maritime Finance – First Citizens Bank

MARKET UPDATE: FUELEU

Moderator: Mr. Alexander Prokopakis, Executive Director – International Bunker Industry Association (IBIA)

Panelists:

• • Mr. Theo Kourmpelis, Strategic Business Partner – Lloyd’s Register
• • Mr. Ralf Garrn, Managing Director – OceanScore

ALTERNATIVE FINANCE PANEL

Moderator: Mr. Chris Vartzis, Partner, Head of Maritime Finance, Greece – Stephenson Harwood

Panelists:

• • Mr. Nicholas M. Petrakakos, Partner & Managing Director, Maritime & Offshore Investment Banking – Alantra
• • Mr. George Fikaris, Managing Director – EnTrust Global
• • Mr. Kevin Kou, Director of Europe and America Department (Shipping) – ICBC Financial Leasing Co., Ltd.
• • Mr. Iraklis Tsirigotis, Director of Origination – Neptune Maritime Leasing Ltd.

NAVIGATING OPPORTUNITIES – INVESTMENT PERSPECTIVES IN THE MARITIME SECTOR

Moderator: Ms. Alexia Hatzimichalis, Partner – Watson Farley & Williams

Panelists:

• • Mr. Christian Rychly, Head of Shipping – MPC Capital; COO – MPC Container Ships
• • Mr. Tobias Backer, Executive Director – Pelagic Capital
• • Mr. Nicolas Tirogalas, Chief Investment Officer – Tufton Investment Management

KEYNOTE REMARKS:

H.E. Christos Stylianides, Minister of Maritime Affairs & Insular Policy - Hellenic Republic

FORUM LUNCHEON & OFFICIAL AWARD CEREMONY

KEYNOTE SPEAKER:

Mr. Apostolos Tzitzikostas, Commissioner - European Commission for Sustainable Transport & Tourism (via webcast)

INTRODUCTORY REMARKS:

Ms. Elissavet Vozemberg – Vrionidi, Chair, Committee on Transport and Tourism - European Parliament

OFFICIAL AWARD CEREMONY

2025 CAPITAL LINK GREEK SHIPPING LEADERSHIP AWARD

During the luncheon in the context of the forum, an official award ceremony will take place, and the "2025 Capital Link Greek Shipping Leadership Award" will be presented to Mr. Thanasis Martinos, Managing Director - Eastern Mediterranean Maritime Limited, for his outstanding contribution to Greek & global shipping.

Introductory Remarks: Mr. George Prokopiou, Founder - Dynacom Tankers Management; Dynagas Ltd. (DLNG) / Sea Traders, and Mr. George M. Foustanos, Maritime Historian & Founder - Greek Shipping Miracle.

The “Capital Link Greek Shipping Leadership Award” is presented annually to a leading maritime figure of the Greek Shipping Community who has gained the respect and the appreciation of the international shipping industry and who is also recognized for their outstanding contribution to elevating Greek Shipping to its leadership position globally.

Previous honorees were: 2013 - Captain Panagiotis N.Tsakos, Founder & President - Tsakos Group, 2014 - Mr. Pericles Panagopoulos, 2015 - Mr. Lambros Varnavides, Vice Chairman of the Baltic Exchange, Trustee of the Lloyds Register Foundation and Managing Director and Global Head of Shipping RBS 1998, 2016 - Mr. Nicolas, George and Andreas Tsavliris of the Tsavliris Salvage Group, 2017 - Professor Costas Th. Grammenos CBE DSc, Chairman C. Grammenos Centre of Shipping Trade & Finance, Bayes Business School, City, University of London, 2018 - Mr. Panos Laskaridis, President of European Community Shipowners Associations; CEO, Lavinia Corporation/Laskaridis Shipping Company Ltd. and Mr. Athanasios Laskaridis, Chairman and CEO of Lavinia Corporation, Lavinia Enterprises Limited and Laskaridis Shipping Company Ltd., 2019 - Captain Paris Dragnis, Chairman & Founder - Goldenport Group, 2020 - Mr. George Procopiou, Founder, Dynacom Tankers Management, Sea Traders – Dynagas, 2022 - Mr. Simeon Palios, Founder and Chairman, Diana Shipping, 2023 - Mr. Themistocles Vokos, Founder Member, Honorary Chairman of Posidonia; Founder of Seatrade, and 2024 - TEN LTD. -TSAKOS ENERGY NAVIGATION LTD., & Dr. Nikolas P. Tsakos, Founder & CEO - TEN Ltd. (NYSE: TNP); Chairman - INTERTANKO (2014-2018).

Official Luncheon Sponsor: The Marshall Islands Registry.

KEYNOTE REGULATORY ROUNDTABLE

Moderator: Mr. George Teriakidis, Regional Manager for Southeast Europe – DNV Maritime

Participants:

• Dr. Dorota Lost-Sieminska, Director, Legal Affairs & External Relations Division - International Maritime Organization (IMO)
• Ms. Fotini Ioannidou, Director, DG for Mobility & Transport - European Commission

KEYNOTE INDUSTRY LEADERSHIP ROUNDTABLE

STEERING THE COURSE - DRIVING THE INDUSTRY FORWARD

Moderator: Mr. Nicholas Brown, Corporate Affairs Director, Marine & Offshore – Bureau Veritas

Panelists:

• • Mr. Nikolaus Schües, President & Chairperson of the Board – BIMCO; CEO – Reederei F. Laeisz
• • Mr. John Xylas, Chairman – INTERCARGO; President & CEO – Ariston Navigation Corp.
• • Mr. Emanuele Grimaldi, Chairman – INTERNATIONAL CHAMBER OF SHIPPING; President & MD; Managing Director – Grimaldi Euromed SpA; Grimaldi Group
• • Dr. Nikolas P. Tsakos, Chairman – INTERTANKO (2014-2018); Founder & CEO – TEN Ltd.

EU FUNDING OPPORTUNITIES FOR THE MARITIME SECTOR

Presentation:

Mr. Vasileios Tsiamis, Partner – EY

DARK FLEET – SANCTIONS & TARIFFS

Presentation:

• Ms. Leigh Hansson, Partner – Reed Smith
• Mr. Alexander Brandt, Partner – Reed Smith

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Stellar V Capital Corp. a newly organized special purpose acquisition company formed as a Cayman Islands exempted company and led by its co-CEOs Prokopios (Akis) Tsirigakis and George Syllantavos, announced the pricing of its initial public offering of 15,000,000 units at an offering price of $10.00 per unit. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant will entitle the holder thereof to purchase one Class A ordinary share at $11.50 per share. The units are expected to trade on the Nasdaq Global Market (“NASDAQ”) under the ticker symbol “SVCCU” beginning January 30, 2025. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Company expects the Class A ordinary shares and warrants comprising the units to begin separate trading on the 52^nd day from this date. Once the securities comprising the units begin separate trading, the Class A ordinary shares and the warrants are expected to be traded on NASDAQ under the symbols “SVCC” and “SVCCW,” respectively.

BTIG, LLC is acting as sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any. The offering is expected to close on January 31, 2025, subject to customary closing conditions.

A registration statement relating to the securities sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on January 29, 2025. The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by accessing the SEC’s website, www.sec.gov.

About Stellar

Stellar V Capital Corp. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

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On the occasion of GSCC New Year’s vasilopita reception Mr. Haralambos J. Fafalios, president of the Greek Shipping Co-operation Committee referred to the latest shipping and geopolitical developments and underlined that 2025 marks the 90 years of the GSCC founding.

Mr. Fafalios said: “Fortunately, the two major conflicts that greatly concerned us since 2022 and 2023, i.e. Gaza and Ukraine, may be finally scaling down and thereby be of lesser danger to both seafarers and ships. However, it is too early to call them over.

We are very happy to hear that the crew of “Galaxy Leader” was released yesterday, after more than a year in captivity.

But there will still be risks in trading in the Red Sea and the Black Sea. The accompanying inefficiency has gone a long way in aiding the containership and tanker utilization rates.

The most important issue of the day was the recent inauguration of a new American President and how his administration’s strategy will affect world trade, and thus world shipping. It is too early to see if and when the threatened tariffs will be imposed and on whom. However, it seems most likely that any effects of such policies will primarily affect container and energy shipping and to a lesser extent the dry bulk trades.

We also have a significant number of elections in Europe and elsewhere, which in turn will determine trade and industrial policy. And of course, China itself is still the main receiver of global bulk commodities. Whilst many worry about China's actual growth rates, the fact remains that the imports that China needs are still colossal. Added to the above is the large fleet of underinsured, undermaintained vessels performing their job in the various sanctioned trades. Their presence is both unwelcome and dangerous to their crews and the environment.

Regardless of all these factors, the various shipping sectors have performed in different ways. The containership market has been very buoyant over the last 12 months, considering the huge orderbook that exists. The car carrier and RoRo sector has also provided very attractive returns. The tanker market was very positive but at the end of the year seemed to fall off significantly. Unfortunately, the dry bulk market had a lacklustre second half of year, apart from the capesize sector, and has ended the year at record low levels.

Gas carriers, especially the LNG carriers, have had a difficult year leading to some scrapping of turbine powered vessels. The LPG sector, whilst not at record highs, is still providing attractive returns.

It is against all this uncertainty that the world shipping fleet is growing significantly with very large numbers of container ships, car carriers, tankers, bulk carriers and gas carriers on order. Chinese, Korean and Japanese shipyards are all enjoying full orderbooks out to 2028 and beyond.

And a very significant number of these new ships are dual fuel, designed even though no one yet knows which is going to be the low carbon, high safety fuel of the future. I say high safety because all those who are ordering ammonia powered vessels have not yet quantified the huge safety risk to the crews and to third parties! The methanol solution may be safe but there is nowhere near enough supply to handle the world fleet needs. And finally, no one has decided whether LNG is or isn’t a green fuel, most people consider it to be a fossil fuel. So it is against this background that world shipping must take decisions which will affect them for the next 20-30 years.

It should be understood that simply selecting dual fuel bunkering arrangements will not in itself bring about a carbon free world because most of these alternative fuels still have many safety and availability risks and, most of all, are not that carbon free. This is especially the case for bulk/tramp vessels which make up the majority of the world fleet. The breakthroughs we really need are still not here and may not be so for many years.

Also, EU ETS, Fuel EU Maritime, CII and various taxes and levies, will not in themselves bring about a carbon free world. Any and all extra taxes will only hurt the consumers of commodities more than they will decarbonize shipping and not incentivize shipbuilders and engine builders to help shipping reach a carbon free world that we all wish for.

Another area which has become a bit overdone to say the least, is the area of vessel vetting.

Between adhering to class requirements, IMO regulations and Port State Controls, vessels themselves and their management have enough to deal with, and the result is generally a very safe fleet by all measures.

One must always remind oneself that the global shipping industry transports over 90 per cent of the world’s cargoes and with the lowest carbon footprint.

I am proud to say that for all these problems, Greek shipping organizations have ordered the largest number of newbuildings in all sectors, embracing efficient technologies and not just using the latest green fuel.

The Greek fleet, which represents the world’s largest fleet is also the biggest participant in the tramp trades. And thus, has to meet the requirements of all the world’s ports and cargoes.

On another level, I would like to remind everyone that this year London will host LISW 2025.

Whilst London has many of the world’s most prominent organizations, such as the IMO, ICS, INTERCARGO, INTERTANKO, IG of P&I Clubs, Baltic Exchange, with law firms and shipbroking companies having offices here, no shipping centre will prosper in the long term if shipping's actual decision makers live and work elsewhere.

Successive administrations have done very little to encourage London to retain its place as the home of entrepreneurs and shipping leaders. This omission will ultimately have long-term consequences for London.

The G.S.C.C. itself, has been based in London since 1935, starting off as the G.S.S.C. (Greek Shipping Stabilization Committee) but over the decades, has been the conduit between the Greek shipping community and London and the U.K.

Our closeness to all the London based shipping and maritime organizations has proved invaluable for both them and ourselves as we have been able to express the views and experiences of the world's most prominent shipping nation.

We still urge the Greek government to do more for maritime education and provide more spaces for students, better facilities and more lecturers.

Although we recognise the progress achieved, the Greek flag itself has to become less bureaucratic in order to tempt back owners into using it. We have been saying this for many years.

And as Europe's leading maritime force, we need more permanent representation at the I.M.O and the E.U.

The Hellenic Coast Guard, as always, should remain a very important element of the Greek maritime safety and marine pollution preventing system and should also be strengthened.

Most importantly, of all our gratitude goes to all our seafarers, who endure so many challenges every day and are rarely appreciated for their hard work. World trade would not function without their selfless efforts every day of the year keeping ships trading from one port to the other whilst encountering rough seas and challenging port environments.

Those working in shipping offices ashore must also not be forgotten for all their hard work in keeping this vital industry functioning smoothly.

Finally, I would like to thank my G.S.C.C. colleagues for their dedication and hard work, and in particular Kostas Amarantidis and his team for running this organization so smoothly. Thank you”.

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Capital Ship Management Corp. has completed the registration process of the Tanker 'Akrisios' ('ΑΚΡΙΣΙΟΣ') to the Greek registry. M/T 'Akrisios' is now sailing around the world flying the Greek flag.

The M/T 'Akrisios' is a 50,113 dwt, eco-type Chemical/Product MR tanker, built in 2023 by Hyundai Vietnam Shipyard Co Ltd. in Vietnam. Being Tier III compliant for reduced NOx emissions, assigned ABS ENVIRO notation, as well as ABS Wind-Assisted Ready, HVSC-Ready and LNG Fuel Ready notations, and equipped with IHM notation for safe recycling, M/T ‘Akrisios’ is one of the most environmentally friendly, technologically advanced and efficient vessels in the global MR fleet.

The change of flag on the 'Akrisios' took place at the port of Khor Fakkan in the United Arab Emirates (UAE), in the presence of the Maritime Attaché of Shanghai, the Lieutenant Commander of the Hellenic Coast Guard, Mr. S. Kakarouchas.

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In the ever-challenging and unpredictable world of maritime operations, moments arise that define not just the skill of a crew but their character and humanity. Such a moment occurred in the early hours of December 28, 2024, when the MV Rukbat Star demonstrated remarkable courage and operational excellence by rescuing 53 individuals from perilous conditions in the Atlantic Ocean. This rescue exemplifies the unwavering commitment of maritime professionals to the sanctity of human life and the profound responsibilities they bear.

The Rescue Operation

Executing a maritime rescue in the open sea is a complex and hazardous task. The crew of the Rukbat Star approached the situation with professionalism and precision. After notifying MRCC Las Palmas of the boat’s discovery, the crew began the rescue operation at 02:35 LT. Maneuvering carefully to avoid capsizing the rubber boat, they ensured a safe transfer of all individuals aboard the larger vessel.

The Call That Changed a Voyage

At 01:57 local time (00:57 GMT), while on a routine voyage from Agadir to Laâyoune, Morocco, the MV Rukbat Star received an urgent distress signal relayed by the Maritime Rescue Coordination Center (MRCC) in Las Palmas. A rubber boat carrying approximately 53 individuals was reported to be in danger at position LAT 28°48.7’N, LONG 011°55.6’W. The call triggered an immediate and coordinated response from the vessel’s crew, led by Captain Raffat. Within minutes, the Rukbat Star, a Shal low Draft General Cargo vessel, altered its course to the coordinates provided. This decision marked the beginning of a high-stakes search and rescue operation in the open sea. By 02:20 LT, the vessel had located the distressed rubber boat approximately 1 nautical mile from its initial reported position. The situation was dire: the small craft was overcrowded, with 53 individuals clinging to hope in the cold night air. Capt Rafat’s and crew’s efforts were guided not only by operational expertise but also by a profound sense of duty. As each individual was brought aboard, they were given immediate assistance, including blankets, water, and medical attention where needed. Despite the challenges of conducting such a rescue in the early hours of the morning, the operation proceeded smoothly and efficiently. By 05:35 LT, the Moroccan Royal Navy vessel 203 had arrived on the scene to facilitate the next stage of the operation. Over the next two hours, the rescued individuals were carefully transferred to the navy ship in small groups, ensuring their safety and comfort. By 08:00 LT, all 53 individuals were safely aboard the Royal Navy vessel, marking the successful conclusion of the rescue

A Testament to Maritime Cooperation

The success of this operation underscores the critical importance of international coordination in maritime search and rescue missions. From the initial distress signal relayed by MRCC Las Palmas to the seam less handover of rescued individuals to MRCC Rabat and the Moroccan Royal Navy, the operation highlighted the strength of collaborative efforts across jurisdictions. Captain Raffat and his crew maintained constant communication with both MRCCs, adhering to instructions and providing updates at every stage. This cooperation ensured that the rescue was conducted with maximum efficiency and that the individuals in distress received timely assistance. It also reinforced the shared commitment of maritime authorities and operators to the safety of life at sea—a principle enshrined in international maritime law.

Recognition and Reflection

The heroic actions of the MV Rukbat Star crew have garnered widespread praise from all corners of the maritime community. In a formal letter, the ship’s owners lauded Capt Rafat and the crew for their bravery and professionalism, describing the operation as a shining example of the values that define the maritime profession. “We are immensely proud of our crew’s quick thinking, dedication, and adherence to the highest standards of safety,” the letter read. “Their actions are a testament to the spirit of humanity that drives all seafarers.

The charterers of the vessel, Marsa Maroc, and the agency HAMAG also ex pressed their gratitude, emphasizing the humanitarian significance of the rescue. “This act expresses solidarity and cooperation regardless of differences in race,” their statement noted. “It reflects the high spirit of humanity possessed by the crew and the vessel’s owners.” Such recognition is well-deserved. The crew’s actions not only saved lives but also upheld the proud tradition of seafarers as guardians of the ocean. For centuries, the maritime profession has been bound by an unspoken code: to offer assistance to those in need, regardless of the cost or inconvenience. The MV Rukbat Star has now joined the ranks of countless vessels that have honored this code, standing as a beacon of hope and humanity in the vast expanse of the sea. In recognition of the crew’s extraordinary efforts, the Panama Flag awarded the Management Company and the vessel on 16.01.2025 at the premises of the Management Company. Additionally, the Propeller Club, to which the Management Company is a member, has informed the United States Coast Guard (USCG) about the incident, further highlighting the significance of this heroic act.

A Broader Perspective

The rescue conducted by the MV Rukbat Star is a re minder of the ongoing humanitarian challenges faced by those at sea. Whether fleeing conflict, seeking better opportunities, or simply caught in misfortune, countless individuals find themselves in perilous conditions on the world’s oceans. The responsibility of seafarers to offer assistance in such situations is more critical than ever. As we look to the future, it is essential to continue sup porting the maritime community in their efforts to up hold the safety of life at sea. This includes investing in training, enhancing safety equipment, and fostering international cooperation. It also means recognizing and celebrating the heroic actions of seafarers like the crew of the MV Rukbat Star, whose courage and humanity make a tangible difference in the lives of others.

Conclusion

The events of December 28, 2024, will forever be etched in the history of the MV Rukbat Star. In a moment of crisis, the vessel’s crew rose to the occasion, embodying the highest ideals of the maritime profession. Their actions saved 53 lives and reaffirmed the enduring values of compassion, solidarity, and professionalism that define seafarers around the world. As the maritime community reflects on this remarkable rescue, it serves as both a source of inspiration and a call to action. Let us continue to support and celebrate the unsung heroes of the sea, ensuring that their bravery and dedication remain a cornerstone of our shared maritime heritage.

Fair winds and following seas to all who sail in service of others. 

Image 1: Katerina Kardaris (Vice President Atlantides Group), George Kardaris (Vice President Atlantides Group), Ioannis Kardaris (CEO Atlantides Group), Julie Lymberopulos Karnakis (Ambassador and General Consul of Panama in Greece), Eleni Kyriakopoulou-Kardari & Eng. Jose Demostenes Racine, Panama Flag Administration 

Image 2: Ambassador and General Consul of Panama in Greece Mrs. Julie Lymperopulos Karnakis, Ioannis Kardaris Ceo of Company Atlantides Group & George Mpoukaouris Legal Department Atlantides Group 

Image 3: Ioannis Kardaris (CEO Atlantides Group), Katerina Kardaris (Vice President Atlantides Group), George Kardaris (Vice President Atlantides Group) & Eleni Kyriakopoulou-Kardari 

Image 4: Ioannis Kardaris (CEO Atlantides Group)

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Seanergy Maritime Holdings Corp has entered into two definitive agreements with unaffiliated third parties in Japan for (i) the purchase of a Japanese-built Newcastlemax vessel and (ii) a bareboat charter with a purchase obligation for one Japanese-built Capesize vessel. The total acquisition cost is approximately $69.0 million.

Acquisition of a Japanese Newcastlemax Vessel

The Newcastlemax was built in 2013 at Imabari Shipbuilding Co., Ltd., Saijo Shipyard, a reputable Japanese shipyard, and has a cargo-carrying capacity of approximately 207,851 deadweight tons ("dwt"). The vessel will be renamed “Meiship” and is expected to be delivered within the first quarter of 2025, subject to customary closing conditions.

Acquisition of a Japanese Capesize Vessel through Bareboat Charter Agreement

The Capesize was built in 2011 at Mitsui SB and has a capacity of 178,459 dwt. Pursuant to the terms of the 6-month bareboat charter with an unaffiliated third party in Japan, Seanergy has advanced a down payment of $4.0 million and will pay an additional $4.0 million upon delivery of the vessel to the Company, as well as a daily bareboat rate of $9,750 over the charter period. The vessel will be renamed “Blueship” and is expected to be delivered within the first quarter of 2025. At the end of the 6-month bareboat period, Seanergy has an obligation to purchase the vessel for $22.5 million. The purchase price for the two vessels is expected to be funded with a combination of cash on hand and proceeds from credit facilities the Company will seek to enter into.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “We are pleased to announce the addition of two high-quality Japanese vessels to Seanergy’s fleet, which will integrate perfectly with our existing pure-play Capesize fleet. These transactions mark a significant milestone in the Company’s strategic fleet expansion strategy, which is designed to strengthen our position within the industry. With a fully delivered fleet of 21 vessels and 3.8 million dwt, we are advancing our competitive edge through disciplined growth, in alignment with our focused capital allocation strategy. "We expect these acquisitions to further enhance our operational capabilities while reinforcing our commitment to delivering consistent shareholder returns. We believe that the deliveries of the two new vessels are well-timed, based on the higher level of the freight futures for the second half of 2025. "Despite the seasonal weakness, we remain confident in the long-term outlook of the Capesize sector, driven by favorable market fundamentals, a limited newbuilding orderbook, and what seems to be a sustained global demand for major raw materials.”

Seanergy Maritime Holdings Corp. is an international shipping company that provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The Company's operating fleet consists of 19 Capesize vessels (1 Newcastlemax and 18 Capesize) with an average age of 13.8 years and aggregate cargo carrying capacity of approximately 3,417,608 dwt. Upon completion of the aforementioned transactions, the Company's operating fleet will consist of 21 vessels (2 Newcastlemax and 19 Capesize), with an aggregate cargo carrying capacity of 3,803,918 dwt.

image: Stamatis Tsantanis, Chairman & Chief Executive Officer of Seanergy Maritime Holdings Corp.

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