Milestone comes as company positions itself to lead shipping through an unprecedented era of transformation

V.Group, celebrates its 40th anniversary this month. The milestone comes as the company embarks on a new growth chapter bolstered by its recent change in ownership.

With a robust capital structure, its wealth of experience and ability to operate on a global scale, V.Group (V.) is positioned to support the global shipping industry as it navigates evolving complexities, from regulatory compliance and geopolitical risk, through to its decarbonisation and digitalisation drives.

Since being founded in 1984, V.’s network has expanded from managing 35 vessels to servicing over 3,500 ships across the tanker, gas carrier, bulk, container cruise and offshore segments.

V.Group’s continued growth is driven by its steadfast commitment to delivering safe operations and remaining the industry’s Committed Partner of Progress for Everything at Sea.

Recent years have also seen V.Group expand its V.Services portfolio of marine services into a core part of its business, enabling the organisation to provide a holistic, end-to-end solution for its clients, across ship management, crew wellbeing (catering, travel, digital payment cards), supply chain, technical services, insurance and more.

At the heart of V.Group’s operations is its network over 44,000 seafarers across all segments, each of them supported by an onshore team of c. 3,000 colleagues in over 30 countries and 50 offices around the world. V.’s global network of onshore teams boasts a wealth of specialised industry knowledge built over decades of experience. Many of these onshore teams are staffed by former crew members, reflecting V.Group’s strong focus on ship-to-shore career progression opportunities.

V.Group actively prioritises crew recruitment, wellbeing, retention and training, providing a wide range of services, from physical and mental health and training, to a focus on career progression opportunities across V.’s vast fleet, all contributing to a >90% retention rate for senior officers.  

Meanwhile, V.Group has also invested significantly in digitalisation across its operations and offers a unique end-to-end digital platform. V.Group’s ShipSure is a digital platform that combines V.Group’s wealth of historical data with advanced machine learning and human capital to help the industry better optimise energy use, evaluate a vessel’s performance, identify trends and predict future performance to effectively manage its vessels, voyages and crew.

Commenting on the milestone, René Kofod-Olsen, CEO, V.Group, said: “The last 40 years have been a rehearsal for the success to come over the next 40 years and beyond. As the industry continues to transform at an exceptional pace, our mantra remains as important as ever: ‘Never Not Act’. We’re at the ready to support our clients in navigating the industry’s complexities, backed by our proven track record, global scale, and digital-first way of working. It’s a strategy we’re laser focused on, as we continue to enable safe, profitable and sustainable operations.

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On 16-18 October, FONASBA (the Federation of National Associations of Ship Brokers and Agents) held its annual meeting in Athens, Greece. The meeting brings together key players from the shipping value chain in a spirit of collaboration to discuss best practice and help shape the future of the industry. This year’s event, which was hosted by the International Maritime Union, drew a record attendance of delegates from over 40 countries.

The historic heart of maritime trade

Addressing the delegates at the meeting, outgoing President Javier Dulce said, “I am pleased to address you with my final speech as President. As you know by now, I am a strong believer in team work. As such, I want to pay tribute to the whole board who have worked incredibly hard and I would like to thank them for their commitment. Going forward I encourage each of you to take part in the extensive activities we’ve begun in recent months. The progress we have achieved confirms the vibrant role FONASBA continues to play in shaping the future of our sector.

“This Annual Meeting in Athens, at the historic heart of maritime trade, offers us a great opportunity to work together, share experiences, enhance our knowledge and help our federation to develop further into the future. It has been an honour to serve FONASBA. I am incredibly proud of what we have achieved together in advancing our goals. I remember saying, during my first speech as President of FONASBA, that we wanted to work with and for our members. At the end of my last speech, let me say that we must continue to work with and for our members because they are the essence of FONASBA’s existence. Thank you for your continued support, and I wish you all the best for the future.”

A new era of leadership

The Council meeting concluded with the election of FONASBA’s new board. Signalling a new era of leadership, Fulvio Carlini of Italy officially succeeded Javier Dulce as FONASBA’s President.

The FONASBA Board now consists of the following members:

Fulvio Carlini, President (Italy)

Javier Dulce, Past President (Argentina)

Botond Szalma, Executive Vice-President (Hungary)

Dureid Mahasneh, President Designate, and Regional Vice-President Middle East (Jordan)

Mohamed Mouselhy, Regional Vice-President Africa (Egypt)

Marcelo Neri, Regional Vice-President Americas (Brazil)

Takazo Iigaki, Regional Vice-President Asia (Japan)

Raymond Troch, Regional Vice-President Europe and Chair, ECASBA (Belgium)

Antonios Venieris, Chair, Education and Quality Committee (Greece)

Julio Delfino, Chair, Ship Agent Committee (Argentina)

Bahadir Tonguç, Chair, Ship Broking Committee (Turkey)

Adaptability, sustainability, collaboration

In addition to the networking opportunities afforded by this gathering of international shipping industry representatives, delegates attended a series of seminars and presentations delivered by top-tier speakers.

The meeting featured a forward looking agenda, representing FONASBA’s commitment to advancing the shipping industry with a focus on adaptability, sustainability and member-driven collaboration. Topics discussed were varied and included subjects such as environmental regulations, the future of maritime training, maritime digitalisation, the impact of geopolitical events and seafarers’ welfare, demonstrating FONASBA’s role as a forum for addressing critical industry concerns in an ever-changing landscape.

Key moments of the event included a workshop entitled ‘Show Me the Money’ delivered by ITIC, highlighting best practices in compliance and risk management. In addition, there were discussions on agency agreements and FONASBA’s quality standards, held in the presence of FONASBA’s close partner BIMCO.

Firm foundation for the future

Speaking during the meeting, FONASBA President Fulvio Carlini said, "I would like to offer my thanks to Javier Dulce for his service to FONASBA during his presidency. His hard work has done much to ensure the federation of the positive position it enjoys today and provides me with a firm foundation on which to build during my term as president.

“I would also like to thank IMU for their warmth and kindness in hosting this event. Due to their meticulous planning, the annual meeting ran smoothly and showed the best of Greek culture and hospitality.

“I look forward to working, together with my fellow board members, in supporting our members in the coming period. As this meeting highlights, there are some interesting times ahead for our industry. We are, however, incredibly proud of the progress made by FONASBA and our members’ commitment to addressing the transformative challenges of our industry. The environmental and digital challenges, combined with the geopolitical shifts we face today, require adaptability and resilience—qualities that FONASBA has championed since 1969.”

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By Stefanos N. Roulakis, Principal SCHOLASTICUS LAW PLLC

In what has become a quadrennial tradition, I am taking a look at how shipping could be affected by the U.S. Presidential Election. I am surprised to be writing that this is my third analysis of Donald Trump’s candidacy for President. In 2016, his campaign predictions were subdued due to his lack of a policy track record. As I noted to Tradewinds, it was clear that Iran would likely be a focal point, despite some moderate positions espoused on the campaign trail. In 2020, I predicted that the Biden administration would promote offshore renewable energy.  Particularly advancing the U.S. offshore wind sector. However, the geopolitical impact on shipping, particularly from the war in Ukraine, was largely unforeseen. This legacy will continue to significantly affect the shipping sector should Kamala Harris be elected. 

Some argue that the election will not have a huge outcome for our sector. In a sense, I agree: our industry has existed for 3,000 years and knows how to adjust to change. An election in one country will not be earth-shattering. Just as every comma in a charter party has significance, an election in a country with an outsized impact on shipping regulation and global trade will have an effect on the maritime industry.

Background and Big Picture Issues

This election is historic for the U.S., marking the first time since Nixon, Ford, and Carter (1973-1981) that there will be three presidents in eight years, with back-to-back single-term presidents for the first time since 1897.[1] If elected, Donald Trump would be the first non-consecutive two-term president since Grover Cleveland.[2] It is historic that the Democratic Party has nominated a Black and South Asian woman as a candidate, which is unprecedented in U.S. History. 

U.S. political stability has been declining since 2015-2016, reflecting past instabilities like the inflationary periods of the 1970s and 80s.[3]  In addition to the above history, it is unheard of that a major party’s nominee has withdrawn so late in an election cycle. Shipping has thrived in the “pax Americana” of the post World War II period. Whether this will continue beyond this election or whether a more multipolar world will take its place.

Analysis

The election may significantly impact shipping in variety of areas critical to shipping, including LNG, sanctions, environmental regulations, offshore wind, and other areas of concern to industry.  Certain areas important to the U.S., such as debates over the role of administrative agencies, may impact various sectors as well.

LNG

The LNG transport sector has rapidly grown and become highly profitable. This has been influenced by the Ukraine war, which has reduced Russian gas exports. U.S. exporters and LNG transport companies have benefited significantly. However, the Biden-Harris administration’s pause on new LNG facility permits may hinder investment and growth. If these policies continue under a Harris presidency, U.S. LNG exports and the global maritime LNG transport sector could decelerate.

A Trump presidency would likely promote U.S. LNG exports, driven by a mercantilist trade view. However, such policies could backfire, as past tariffs on Chinese exports caused China to cease imports of U.S. LNG.

International Relations and Sanctions

Sanctions are fundamentally tools of U.S. foreign policy implemented through legal means. As such, they are intrinsically linked to the U.S.’s approach to international relations. Despite taking a mild stance on sanctions in the run-up to the 2016 election, the Trump administration made targeting shipping companies as a central strategy. It would likely take a tougher approach on Venezuela while using sanctions relief to negotiate broader deals with Russia and North Korea.

The Biden-Harris administration has embraced a multilateral sanctions approach, coordinating with allies to target specific economic sectors. Sanctions have been used to implement Russia policy, improve relations with Venezuela, and expand measures against Iran amid Middle East conflicts. This trend is likely to continue under a potential Harris administration.

Russia/Ukraine

Trump plans to take a different approach to the Ukraine war than the Biden-Harris administration, likely easing sanctions and offering relief for peace. In contrast, Harris remains committed to Ukraine and would likely escalate sanctions as the conflict continues.

Middle East

The Biden-Harris administration has increased sanctions on Iran to support Israel amid rising conflicts with Iranian proxies in Lebanon. Candidates are unlikely to differ significantly on this issue, as they generally align on Iran-Israel relations. Both administrations have seized Iranian oil and expanded sanctions against Iran.

North Korea

Trump has pledged to improve U.S. relations with North Korea, surprising allies amid the latter’s support for Russia and missile tests. In contrast, the Biden-Harris administration has maintained the embargo, indicating that a Trump presidency could shift regional dynamics.

Venezuela

Harris and Trump would likely have different approaches to Venezuela. The Trump administration intensified sanctions from 2017 to 2020, targeting shipping companies and expanding sanctions. In contrast, the Biden-Harris administration has aimed to offer sanctions relief for democratic reforms and has issued individual licenses to some energy companies.

This foreign policy issue has turned into a domestic policy issue for the U.S. There are large Venezuelan and Cuban expatriate communities in Florida, a state with a large electoral vote which largely supports Trump but previously voted for Obama. In its analysis of this sea-change, Vox media credited this in part to Trump’s tougher stance on Venezuela and Cuba.

Environment

The Biden administration has made good on its promise to “encourage and incentivize compliance by private sector entities” using criminal and civil enforcement means. The difference in enforcement of environmental laws has been stark. The Biden administration took significant steps to increase enforcement of both the Environmental Protection Agency’s Vessel General Permit and other maritime environmental laws. Should Trump prevail, it is likely that we would see a decrease in enforcement.

A Trump administration would also likely work to change policy on environmental issues. One key area for the maritime industry is the Vessel Incidental Discharge Act (“VIDA”). VIDA has had a long history, becoming law in 2018, going through litigation, and recently having had an EPA final rule issued. However, to become enforceable, the Coast Guard would have to promulgate a corresponding rule. The previous Trump administration was unsupportive of rulemaking—requiring abolition of two rules for every one promulgated—so a Trump presidency could see a further pause on VIDA.

Administrative State

U.S. maritime industry regulation relies on administrative agencies to address issues like the environment, sanctions, safety, and cabotage. Conservative backlash against the administrative state has influenced current law. The Trump administration complicated rulemaking and supported limiting the administrative state, while Harris has advocated for using these agencies to establish rules on various topics. A loss of agency authority could lead to regulatory uncertainty for companies trading and doing business in the U.S.

Port workers Strike

The U.S. narrowly avoided a strike by East Coast port workers this October by delaying the issue until January. Vice President Harris supported the longshoremen, stating that “foreign-owned shipping companies have made record profits” and that longshoremen “deserve a fair share” of that money. Trump similarly supported longshoremen, many of whom, including ILA President Harold Dagget, are also reported to support Trump.

Both candidates would likely support the longshore workers’ positions, but their approaches may differ. It is hard to imagine President Trump negotiating from the sidelines.

Offshore Wind

Vice President Harris is a strong advocate for offshore wind energy. She has supported the expansion of offshore wind in the U.S., leading to opportunities for offshore construction vessels and prompting non-U.S. companies to establish offices in the U.S. to market their services. Joint ventures and partnerships across the Atlantic have also developed.

Tariffs & Trade

Since 2016, both parties have embraced protectionism. The U.S. has not signed a free trade agreement since the Obama administration (although the Trump administration renegotiated NAFTA). This was largely driven by the 2016 Trump campaign’s move to promote American industry and tighten borders. As president, he imposed significant tariffs and trade barriers—some legally questionable—and has promised to do so again if elected.

President Harris has taken a moderate stance that may benefit global trade. She has urged trade partners, especially China, to follow established guidelines but has avoided threatening tariffs or aggressive posturing.

Opposing approaches could significantly affect the maritime industry, particularly in the container sector—shipping goods from Asia to the U.S.—and the bulk sector, which supplies materials. A Trump presidency may focus on reducing U.S. imports, potentially lowering global shipping volumes.

Jones Act

I have noted that the Jones Act is amended “approximately as often as the U.S. Constitution.” Both parties support it, and previous administrations made no significant efforts to expand or restrict the status quo.

However, certain aspects of the Supreme Court’s rollback of the administrative state may limit U.S. Customs and Border Protection’s ability to rule on the Jones Act, potentially affecting the emerging offshore wind sector.

Conclusions

The maritime industry has adapted to the vicissitudes of history, from tyrants, kings, emperors, most serene republics, and the recent rise (and potential decline) of liberal democracy. It is certain that the industry will adjust to the U.S. election results. A Trump presidency may reduce opportunities for shipping due to decreased trade and increase uncertainty as the regulatory process stalls. In contrast, a Harris presidency would favor environmentally focused companies and provide few significant global changes from the current administration.

[1] Ford completed Nixon’s term after his resignation, and McKinley succeeded Cleveland in 1897.

[2] 1885-1889, 1893-1897. Teddy Roosevelt, McKinley’s successor, also ran for a non-consecutive term as President in 1912 but did not succeed.

[3] https://prosperitydata360.worldbank.org/en/indicator/WB+WWGI+PV+PER+RNK

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SEA Europe, representing European shipyards and maritime equipment manufacturers, calls on the European Commission to maintain the European added value condition for the upcoming call of the European Innovation Fund dedicated to maritime decarbonisation.

According to this requirement, first introduced in the 2023 funding call, financial support to shipyards for projects involving ship construction or refurbishment is only accessible to shipyards based in EU Member States, Norway, or Iceland.

The Innovation Fund plays a pivotal role in accelerating maritime decarbonisation efforts, supporting the development and scaling of cutting-edge technologies spearheaded by European shipyards and equipment manufacturers. With European taxpayers funding these initiatives, SEA Europe emphasizes the importance of prioritizing the full spectrum of Europe’s maritime cluster – including shipowners, ports, alternative fuel suppliers, shipyards, and technology developers – to create synergies and develop viable business cases that benefit the entire ecosystem.

In line with the goals set out for the upcoming European Industrial Strategy announced by the European Commission, SEA Europe stresses the need for the Innovation Fund to enhance the competitiveness, sustainability, and resilience of Europe’s maritime manufacturing sector.

Christophe Tytgat, Secretary General of SEA Europe, highlighted: “European public funding must deliver tangible benefits to Europe. Our shipyards and maritime equipment manufacturers are essential to the decarbonisation of Europe’s maritime sector. Yet, they face intense competition from Asia, where shipbuilding dominance is a strategic priority, linked to geopolitical influence. To keep pace, safeguard our technological expertise, and revitalize industrial capabilities, the European shipbuilding value chain requires robust EU backing. Turning the European Innovation Fund into an unintended windfall for Asian shipbuilders would be a grave strategic mistake."

SEA Europe strongly advocates for a balanced distribution of support across the maritime sector, reinforcing the strategic importance of retaining key technologies and industrial capabilities within Europe.

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MAG Offshore has acquired 20-strong offshore support vessel (OSV) fleet of Atlantic Navigation (“Atlantic”), listed in Singapore under ticker 5UL.SI. This fleet, comprising 20 high-quality OSVs of various types, is currently serving top-tier clients across key markets in Saudi Arabia, Qatar, and United Arab Emirates. MAG Offshore (“MAG”) is a strategic partnership between the Blue Ocean maritime strategy managed by EnTrust Global (“Blue Ocean”), Maas Capital (“Maas”), Allianz Marine Services (“Allianz”), and the Goldenport Group of Companies (“Goldenport”).

EnTrust Global is a global alternative asset manager with over $15 billion in total assets, and its Blue Ocean strategy is a leading provider of capital within the maritime industry, having deployed over $4.5 billion since its inception. Maas is a longstanding investor in the maritime industry and has partnered with Blue Ocean on various transactions since its original portfolio of assets was acquired by Blue Ocean in 2021. Allianz, which will oversee the management of the combined MAG fleet, is a well-established OSV owner and operator based in Dubai with significant operations in the Middle East and the Indian subcontinent.

Goldenport, headquartered in Athens, is a renowned international shipping group with diverse interests, including a significant presence in the dry bulk and tanker sectors. Prior to this acquisition, MAG owned four modern OSVs operating in the GCC region. The company was formed with a clear mission: to pursue a disciplined “buy and build” strategy across the Middle East, Southeast Asia, and Africa. This latest acquisition reflects MAG’s commitment to expanding its fleet through both bolt-on acquisitions and organic growth. The company remains focused on safe operations and delivering best-inclass offshore support services to NOCs, IOCs and EPC companies.

This transaction marks a significant milestone in MAG’s journey to becoming a premier OSV owner with vessels operating across the Middle East, Southeast Asia, and Africa. In order to ensure a seamless transition for its clients, MAG will retain Atlantic to continue to provide ship management services on selected assets on a temporary basis. MAG extends its gratitude for their invaluable expertise and support in executing this deal to the National Bank of Fujairah, which provided acquisition financing supporting the transaction, Alantra Corporate Finance (DIFC) Limited, which acted as sole financial advisor to the transaction and Watson Farley & Williams LLP, which acted as legal advisors to MAG.

Mark Ras, Managing Partner of Maas Capital Partners, commented: “We are delighted to continue building our business in the Middle East and Southeast Asia and to be doing this with trusted and professional partners. The MAG investment adheres to our core investment values of building and investing in assets, companies, and markets with strong underlying growth, that are underserved and undersupplied. Last, but not least, with whom we do business is at least as important as, when and what business we invest in”.

Murali Krishna, Director of Allianz Marine Services, commented: “Allianz is excited to partner with Maas and Goldenport in this unique platform that combines the financial strength and industry experience of its partners.

This investment reinforces our confidence in the offshore energy services industry and aligns with our vision to be the partner of choice in delivering top-tier marine logistics support and integrated project solutions” John Dragnis, CEO of Goldenport Group of Companies, commented: “We are pleased to announce the expansion of the group into the offshore sector in partnership with Maas Capital and Allianz Marine Services. The investment reflects our conviction that energy transition will take place at a more realistic pace and that the offshore oil & gas sector will continue to play a key role in the future”.

image: Mr. John Dragnis, CEO of Goldenport Group of Companies

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Continuing its fleet expansion policy Star Bulk Carriers has named and taken delivery of its 4th chartered-in Kamsarmax vessel, M/V Star Illusion, on Friday, October 11, 2024, at TSUNEISHI GROUP (Zhoushan) Shipbuilding Inc.

Pavlina Kourtzas, senior chartering colleague, participated in the naming ceremony on behalf of Star Bulk.

“We extend our sincere gratitude to everyone who contributed to the success of this project and participated in the ceremony. Together, we continue making remarkable strides in the maritime industry”, the company stated.

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TEN’s unwavering commitment to safety, operational excellence, and innovation was recognized at the prestigious annual Tanker Shipping & Trade Awards, held in London on October 22, 2024. The event included a select group of high-caliber tanker operators, all of which have excelled in elevating tanker trades as one of the safest and “greenest” means of transportation globally. Mr. Harrys Kosmatos, TEN’s co-CFO, accepted the award on behalf of all onshore and at-sea personnel, whose sheer dedication, commitment, and professionalism were instrumental in achieving this honor. Mr. George Saroglou, TEN’s President & COO, commented: “It gives us tremendous pleasure and immense pride when the unsung heroes behind a successful tanker operator receive the recognition they deserve, as they create the foundation which the rest of us are called to build upon.”

TSAKOS ENERGY NAVIGATION TEN, founded in 1993 and celebrating this year 31-years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 74 vessels, including three DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers, totaling 8.9 million dwt.

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In a shipping industry full of bright ideas on decarbonisation, measuring energy efficiency accurately may yet prove key to changing the investment dynamic between owners and charterers, according to a leading marine technology group.

Environmental Protection Engineering (EPE) Commercial Director, John Korovesis, says that owner preoccupations with the EU Emissions Trading Scheme and the IMO Carbon Intensity Index increasingly focus on endgame of how ship efficiency investments will stack up against future charterer behaviours.

Even the most painstaking attention to regulatory targets on decarbonization can be frustrated when the rules themselves are in flux, and the frameworks and reporting criteria owners work within are subject to change, Mr. Korovesis observes.

“EPE has been especially active in the field of decarbonisation for the last three years, and our priority going forward is to establish new partnerships and expand our product portfolio with new additions to help the shipping community meet the challenges of green transition. “Owners need precision from the solutions they use to enhance ship efficiency, because hard evidence is essential to prove that the value-add to ship performance deserves fair

recognition,” explains Mr. Korovesis, who has a 30-year track record at EPE. He has been integral to transforming a company with roots in making equipment for MARPOL compliance into a global supplier of leading-edge sustainable ship technologies.

“Recently we’ve seen the CII drive especially strong demand for shaft power metering, to monitor data from shafts, thrusters and generators on a continuous basis. Owners also tell us that they now factor the accurate fuel consumption figures they get from EPE AMIO Coriolis Flow Meters directly into voyage planning for CII.”

As a company offering a comprehensive new range of decarbonisation solutions, is also an affiliate to Metis, which specialises in ‘telemetry-first’ fleet performance management and is playing a key role in helping it to deliver transparency to owners on vessel performance. Metis Ship Connect enables automated data acquisition as a service to evaluate the impact of energy saving measures, and present outcomes in digestible formats, says Mr. Korovesis.

“When we propose NaviPULSE VFD (variable frequency drive) technology to optimize the performance of the auxiliary motors used in fans or cooling systems, owners want accurate data to show how gains add up to significant energy savings overall, and the way advantages accumulated with less maintenance, fewer spares and longer motor life. An owner investigating options on antifouling and impacts for the propeller or considering the cumulative impact of installing lower energy LED lighting also wants evidence not promises.”

Mr. Korovesis stresses that EPE associated company ERMA First Group ensures precision in measuring the impact of its own diversified portfolio of decarbonisation solutions - to which EPE also offers a gateway. ERMA FIRST’s FLEXCAP propeller upgrade option is “making a strong impression as a value for money option where owners are working through the consequence of the EU ETS,” he said.

The ERMA FIRST FLEXCAP draws on the boss cap fin principle, absorbing rotating water force to weaken the hub vortex and reducing torque so more energy can be channelled back as thrust. Mr. Korovesis, indicated orders have been placed to equip 40 ships with FLEXCAP, based on its proven ability to make fuel savings of 2-5%.

Other solutions include ERMA FIRST FLEXRING and FLEXFINS. The first is a duct that guides flow towards the propeller and improves propulsive efficiency by 3-7%. A further 1-3% efficiency can be recovered by installing FLEXFINS, a set of hull fins which guide flow around the hull and direct better flow to the propeller.

Measuring impact with this kind of accuracy will be vital if charterers are to start considering that their stake holding in maritime decarbonisation extends to investing in ship systems and technologies.

For EPE, it is also integral to its strategy to offer a single source service, with experts helping owners to evaluate available technologies to improve their ships efficiency index (EEXI), reduce fuel consumption and save CO2, and the service network to support installation, maintenance and troubleshooting.

“Ultimately, it is our job to help shipowners consider their options on invest in making ships greener, on improving performance and whether a specific ship is a candidate to meet tightening regulations covering carbon intensity. Where long-term charters are concerned, we are also showing that technology investments offer cumulative gains to improve CII performance, so that charterers are increasingly part of the conversation.”

Image: Environmental Protection Engineering (EPE) Commercial Director, John Korovesis

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Minerva Marine Inc. (managing 54 Oil tankers), Minerva Gas Inc. (managing 5 LNG Carriers) and Minerva Dry Inc. (managing 11 Bulk Carriers and 3 Container Vessels), have strengthened their ability to transfer data from their fleet vessels to their offices by deploying Dualog’s data transfer service Dualog Drive. With this update, all three ship management companies can now automatically send up to one million files to and from their fleet vessels every week.

The fleets of vessels managed by Minerva Marine Inc., Minerva Gas Inc. and Minerva Dry Inc. operate worldwide and as such, a fast and reliable file sharing system is considered vital to their operations. 

Minerva's daily data exchange needs include software distribution to keep all onboard systems up-to-date; shore-to-vessel Enterprise Resource Planning (ERP) database synchronisation and the ability to distribute large training video, together with having prompt access to other types of data such as videos from CCTV onboard, VDR and ECDIS Playback data. 

Ilias Vlachogiannis, Head of Fleet ICT at Minerva Marine Inc., said: “Our fleet's data flow capability required more control as it was difficult to manage and troubleshoot, with multiple manual processes both onboard and in the offices. Large files transfers were often facing interruptions making difficult their delivery on time due to connection issues. These were the key reasons we began exploring alternatives for data transfer within our fleet.”

Minerva has been using Dualog’s maritime email service for a year, and being familiar with its environment, was able to easily adopt a new file transfer tool into its fleet. Dualog developed Dualog Drive in collaboration with vessel IT teams worldwide, ensuring it seamlessly integrates into the data flow of any fleet.

Eftihia Benaki, ICT Manager at Minerva Marine Inc., commented on the first results coming through: “We saved dozens of man-hours per month due to the process being automated. Configuring and troubleshooting have become much easier because we can see all fleet transfers in one interface. We have also reduced our manual work significantly, and I believe we can still do more.”

“Because of the Dualog technology, we can transfer large files without worrying about interruptions, and we know that all files will be delivered on time. It feels like we’re always online,” stressed Ilias Vlachogiannis.

Kyriakos Papapolydorou, Regional Manager at Dualog, added: “Our objective was to reduce the pain of manual processes of data transfer between ship and shore, while safeguarding smooth operations in diverse environments. We're glad to hear that Minerva has experienced an increase in productivity in such a short period of time.”

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