A large number of key players from the Greek maritime sector gathered in Athens to explore innovative solutions that support maritime climate action by the shipping industry, supported by pivotal EU regulatory measures designed to reduce greenhouse gas emissions, promote cleaner energy, and accelerate decarbonisation.

The Maritime Climate Action matchmaking event was a strategic collaboration between lomarlabs—a company focused on driving maritime innovation – and the European Innovation Council (EIC) Innovation Procurement Programme, powered by SPIN4EIC, and took place at the Old- Small Stock Exchange, hosted by the National Bank of Greece.

The EIC Innovation Procurement Programme, through its key initiative like SPIN4EIC, aims at providing support services to EIC beneficiaries, particularly SMEs and startups, to enhance their access to procurement markets across Europe and beyond.

Five EIC Beneficiary startups (bound4blue, FibriTech, OCEAN VISUALS, COLD PAD and CorPower) presented their ground-breaking technologies in a matchmaking format to prominent procurers and shipping sector representatives, following a panel discussion.

Stylianos Papageorgiou, Managing Director of lomarlabs said: “At lomarlabs we are at the forefront of innovation in the shipping industry working alongside peers to advance sustainable technologies that reduce emissions. Public-private cooperation plays a crucial role for overcoming barriers in technology development and scaling maritime innovation globally because the development of hardware technologies that combat climate change has unique financing needs that are best solved through blended finance of public-private investment. In driving mass adoption of these technologies, global maritime regulations are the great equaliser and key commercial motivator.”

The matchmaking aimed to foster networking and exchange between EIC beneficiaries and innovative procurers from the Maritime and Shipping industries. It served as an opportunity for EIC innovators to showcase their cutting-edge solutions as part of a pitch to procurers, who presented their challenges and discovered technologies that can drive the advancement of their industry.

It emphasised how sustainable practices and solutions, supported by the EU’s regulatory framework and especially the European Union’s Emissions Trading System (ETS) and FuelEU Regulations—pivotal measures designed to reduce greenhouse gas emissions, promote cleaner energy, and accelerate decarbonisation among various sectors, can transform shipping, an industry responsible for 3% of global emissions. With demand for transport set to triple by 2050, tackling these emissions is critical to global climate efforts.

Deputy Minister of Development of the Hellenic Republic, Zoe Rapti, stated during her welcome address: “As we move forward, let us embrace this opportunity to lead the transition to green shipping, ensuring that Greece remains at the heart of a more sustainable, competitive and prosperous Europe.”

In his welcoming speech, Jean-David Malo, the Director of the European Innovation Council and SMEs Executive Agency, highlighted that “EIC aims to become a Centre of Excellence on Innovation Procurement at European and global levels by supporting and enhancing the capacity of EU innovators to access procurement markets. The organization of matchmaking events is an important component of the programme, offering the opportunity to procurers of innovation to get to know cutting-edge technologies that could help them tackle challenges they are facing. This matchmaking event is taking place in an area that is key for the European economy: the Maritime and Shipping Industry. This is the first matchmaking that the EIC is organizing in this field, and it is no surprise that it takes place in Greece, a frontrunner country in shipping.”

During his video welcome, Deputy Minister of Maritime Affairs and Insular Policy of the Hellenic Republic, Stefanos Gkikas, said: “Ιf we want to make shipping’s energy transition succeed, we have to ensure the worldwide availability of safe and affordable low and zero carbon fuels. It is therefore crucial to gradually pass from the current uncertainty to a predictable environment that will guide future investments and ensure that they will reasonably pay-off”.

lomarlabs is a corporate venture lab launched by Lomar in March 2023, that provides maritime tech companies with the physical infrastructure, support, industry insight, expertise and funding αthey need to responsibly test, prove and commercialise their solutions; catalysing their entry into a market that’s rapidly evolving.

It draws on nearly five decades of operational innovation at Lomar to accelerate the deployment of deep technological solutions, with a view to solving the maritime industry’s biggest challenges. lomarlabs current catalogue of projects includes Alicia Bots, Bennu, Calcarea, CargoKite, Seabound and Turtle.

Lomar is a leading ship owner and ship management group with a diversified fleet of around 25 bulk carriers and chemical tankers. Lomar has nearly 50 years of industry expertise, its fleets having moved millions of tonnes of cargo annually.

In October 2022 Lomar continued to diversify with the acquisition of the Bremen-based Carl Büttner Holding GmbH, a 166-year-old shipowner and manager of oil product and chemical tankers, in a deal with an enterprise-value of close to US$160 million, which has since been rebranded as CB Tankers. It included the acquisition of CB Maritime in Rijeka, Croatia, a specialist crewing agency. Lomar is a maritime subsidiary of Libra Group, a privately-owned global business group that includes 20 businesses predominantly focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified industries. With subsidiaries that own and operate assets in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross- sector insights and growth at scale.

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This year’s meeting was the largest gathering of TEN’s associates & partners that took place amidst an excellent freight rate market.

As Dr. Nikolaos P. Tsakos, Founder and CEO of TEN Ltd. said: “2024 was a milestone year for TEN in terms of profitability and the creation of the first Maritime Academy in Chios.

Mr. George Saroglou, President and COO of TEN Ltd. gave a short overview. He pointed out that TEN follows a crisis resistant growth model spanning four decades. Due to the stewardship of the company’s personnel and the dedication of the seafarers onboard the company has expanded tremendously taking advantage the opportunities of the market.

TEN has created a diversified fleet, secured revenues and green ship growth. It has divested 13 older vessels since 1/1/2023 and has replaced them by taking delivery of 21 highly sophisticated vessels contracted/acquired.

TEN has achieved also solid performance and healthy liquidity key factors which are keys to the fleet expansion. 2024 total dividend payment amounts to $1.70 per common share.

Mrs. Venetia Kallipolitou, Department HR & Training Manager- Tsakos Group, referred to the establishment of Tsakos Nautical Academy in Chios which is incorporated with the Administration of Cyprus Deputy Ministry of Shipping. The cadets are fulfilling strict criteria to enter the Academy and the next plan is to introduce a program of developing ETO (Electromechanical Cadet Officers) following the motto “Sea is our limit”.

They follow a three year training program including one year ship service and two years academic training.

The event was addressed by Ambassador George Tsunis who praised TEN for adopting best business practices with an unprecedented course the last 30 years in the NYSE.

TEN represents the two countries’ Greece & US strong ties in the commercial and shipping sector.

Mr. Tsunis expressed his deep respect to the Tsakos family for its great social and philanthropic contribution. 

In the Annual Strategy Meeting of Tsakos, Dr. Maria Vassalou, Director of TEN Ltd. and former Associate Professor of Finance at Columbia Business School, Professor Angelos Kallipolitis and Fotini Angellopoulou, from Clarksons presented some very critical topics regarding the debt sustainability in the world’s financial architecture, putting together prices of equity valuation and Tanker Martex Outlook.

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Marking the association’s 50th anniversary with a memorable programme WISTA International AGM and Conference 2024, which took place 9–11 October in Limassol, Cyprus with three new national associations, the announcement of a new Equity Fund and a broadening of objectives.

Bringing together over 350 delegates from all sectors of maritime, trading, and logistics, the event was notable for being the first WISTA conference attended by a national leader, with Nikos Christodoulides, President of the Republic of Cyprus, delivering the first keynote address.

Highlighting the strong contribution shipping makes to the Cyprus economy, Christodoulides described gender equality as “an integral part of sustainable growth”, and WISTA’s mission to promote diversity and women’s leadership as “vital”. He also acknowledged that WISTA Cyprus had contributed to consultations behind his government’s National Strategy on Gender Equality 2024-2026.

Shipping Deputy Minister Cyprus Marina Hadjimanolis, who was also among the speakers, will work with the Commissioner for Gender Equality on a new study of gender ratio, trends, needs and challenges in order to crystallise future government action on equality and inclusion.

In her own speech, Hadjimanolis observed that the “WISTA family transcends beyond borders, nationalities or religion”. She commended “a force of passionate and dynamic women, working tirelessly for gender equality and the global empowerment of women in shipping”.

International Maritime Organization Secretary General Arsenio Dominguez offered an inspiring keynote, focusing on the need for shipping to demonstrate change, which he advocates not only in his words but by refusing to speak on panels comprised solely of men.

WISTA International President Elpi Petraki described this as a “shining example of leadership that set a powerful precedent for others to follow”. In an uplifting and wide-ranging keynote, Petraki spoke of her pride regarding WISTA’s impressive recent growth – now standing at 5,200 members globally – and explained how the association’s goals have evolved since its inception in 1974.

She said: “Our initial aim to attract, support, and empower women in the maritime, trade, and logistics sectors remains at the heart of our mission, but now we have our sights set on broader objectives. In continuing to foster environments that uphold DEI, we contribute to the global push for sustainable shipping for the sake of future generations.”

The broadening of its mission should not be mistaken for a change of direction, she emphasised. “Our aim is to build bridges that create synergies across all genders, ethnicities and cultures. Our annual conferences are a celebration of our unity and achievements to date by the women, and men, who are driving change across the sector.”

Opening the WISTA International conference, Natalia Bury Loyal, President WISTA Cyprus, said the event marked “half a century of empowering women in the maritime industry, championing diversity, and advancing equity in shipping and trade. This is truly a moment for celebration, reflection, and looking forward to our shared future.”

The potential for wider change across the sector was clear from a conference agenda which this year took as its theme Excellence in Maritime and International Trade Driven by Innovation and inspired a series of thought-provoking panel discussions. Highlights included Innovative Horizons: Pioneering Technologies Transforming the Maritime and Trade Industries, a panel on Anchoring Global Maritime and Trade Excellence – the Human Element at the Heart of Innovation, and a session titled Financing the Future, Navigating the Energy and Technology Transition in maritime.

In a session titled Sea of Change: The Impact of Socioeconomic Turmoil and International Regulations on Innovation in Maritime and Trade, Guy Platten, Secretary General of the International Chamber of Shipping, also pointed to the 90,000-seafarer shortfall in the maritime workforce.

This year’s event officially welcomed three new National WISTA Associations (NWAs) to WISTA International, with the addition of representation from Honduras, China, and Costa Rica bringing the total number of member organisations to 62. WISTA International also formalised a new NWA Equity Fund to offer support to members in countries affected by financial or other challenges.

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Shipping’s largest awards event, the Lloyd’s List Greek Shipping Awards, is accepting nominations for the 2024 awards as it prepares once again to put the spotlight on some of the industry’s leading individuals and companies.

Established back in 2004, the event annually celebrates the achievements of Greek shipping and the Greek maritime cluster at the traditional end-of-year awards presentation dinner In Athens.

Each year, the Greek Shipping Awards attracts capacity audiences of hundreds of guests and the 21st edition of the awards is expected to be no different.

Strong support for this year’s Awards is led by Event Sponsor NEPTUNE MARITIME LEASING, Champagne Toast Sponsor CMB FINANCIAL LEASING and ALLEGIANT (Shipping) which is sponsoring the Welcome Drinks Reception for guests. A roster of prestigious Greek and international companies have sponsored the individual awards.

Nominations are coming in as the deadline for entries for the 2024 awards nears. Nominations must be received by the organisers before midnight, Greek time, on Friday, October 18 in order to be accepted.

Once again, a prestigious and highly knowledgeable panel of judges from across the industry will assess all nominations and will decide the winners of this year’s Awards.

The panel, broadly representing the Greek shipping industry, will be tasked with choosing ‘the best of the best’ in a range of categories that span the full gamut of Greece’s shipping industry – from the dry cargo, tanker and passenger line sectors - to achievements in safety, sustainability, technology, shipbroking, finance and more. There will be excitement, too, in learning the judging panel’s choice of winners for prestigious individual awards such as Personality of the Year, Seafarer of the Year, the Lifetime Achievement Award and the Next Generation Award.

This year sees the launch of a new award, the first completely new category added to the event for several years. The ‘Deal of the Year’ Award will focus on outstanding transactions over the previous year. It follows the success of ‘Deal of the Decade’ awards offered twice in the event’s 20-year history, in 2013 and 2023.

All the 2024 award-winners will be unveiled at the 2024 gala awards dinner on Friday, December 6 in Athens.

Event Sponsor: Neptune Maritime Leasing

Welcome Drinks Reception: Sponsored by Allegiant Shipping

Champagne Toast: Sponsored by CMB Financial Leasing

2024 Award Categories

Dry Cargo Company of the Year: Sponsored by Marichem Marigases

Tanker Company of the Year: Sponsored by Bureau Veritas

Passenger Line of the Year: Sponsored by SWS

Shipbroker of the Year: Sponsored by the Tsakos Group

Shipping Financier of the Year: Sponsored by Tototheo Maritime

Piraeus International Centre Award: Sponsored by ClassNK

Technical Achievement Award: Sponsored by DNV

The Safety Award: Sponsored by Seajets

International Personality of the Year: Sponsored by Capital Ship Management Corp.

Ship of the Year: Sponsored by ABS

Award for Achievement in Education or Training: Sponsored by Shipping Deputy Ministry, Republic of Cyprus

The Sustainability Award: Sponsored by Lloyd’s Register

Deal of the Year: Sponsored by Timagenis Law Office

The Next Generation Shipping Award: Sponsored by IRI / The Marshall Islands Registry

Lloyd’s List Intelligence Big Data Award: Available for sponsorship

Lloyd’s List / Propeller Club Lifetime Achievement Awardl Sponsored by Franman

Greek Shipping Personality of the Year: Sponsored by Eurobank

AWARDS NOT OPEN TO OUTSIDE NOMINATIONS

Seafarer of the Year: Sponsored by Safe Bulkers, Inc.

Greek Shipping Newsmaker of the Year: Sponsored by LPC S.A.

Lloyd’s List Greek Shipping Awards introduces new ‘Deal of the Year’ prize

New award category sponsored by Timagenis Law Firm

The Lloyd’s List Greek Shipping Awards is pleased to announce the launch of an exciting new category of award: ‘Deal of the Year.’ 

The award marks the first new category added to the shipping industry’s favourite annual awards for several years. It follows the success of the ‘Deal of the Decade’ award, offered twice in the event’s 20-year history. These special awards, presented in 2013 and 2023, were won by Angeliki Frangou and Evangelos Marinakis, respectively.

The new annual award is being supported by the Timagenis Law Firm and will make its debut at the Greek Shipping Awards 2024, presented this year on December 6 at the annual gala dinner held in the Athenaeum InterContinental Hotel.

Timagenis, one of the original supporters of the Lloyd’s List Greek Shipping Awards when they were first launched back in 2004, also sponsored the most recent ‘Deal of the Decade’ Award last year. Timagenis commented: “We are honored to sponsor the inaugural ‘Deal of the Year’ award category. As a firm committed to excellence in maritime law, we are proud to recognise and celebrate the outstanding achievements and innovative transactions shaping the future of Greek shipping.”

The awards are adjudicated by a judging panel of leading personalities representing Greek shipping and the wider Greek maritime cluster. The annual Deal of the Year Award will go to the person or company adjudged by the panel to have done the most successful and impressive single transaction in Greek shipping over the preceding year. A series of transactions may be considered by the judges if circumstances warrant. Transactions that have not yet closed may not be considered.

Any kind of business deal within the maritime sector may be nominated, including but not limited to mergers and acquisitions, joint ventures, sales and purchases, or the conclusion of a very successful financing or very profitable charterparty. Wherever possible the exceptionality of the deal should be illustrated by identifying the benefits and advantages to the party to the transaction, or its expected benefits.

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The ESG Shipping Awards 2024 THE CONFERENCE, a landmark event for the maritime industry's ESG leaders, successfully concluded on October 18th, 2024, at the Ble Pavillon in Alimos, Athens. The conference brought together over 350 key industry leaders, experts, and stakeholders from around the world, serving as a vital platform for knowledge sharing and advancing sustainability efforts within the shipping sector.

Helena Athoussaki and Katerina Stathopoulou, principal organizers of the ESG Shipping Awards, opened the event by expressing gratitude to the award winners from last May's Ceremony for participating and sharing their achievements. The conference fostered discussions on challenges, future opportunities, and essential partnerships, highlighting the importance of collaboration in advancing ESG principles within the shipping industry.

The event commenced with opening remarks from Mr. Manolis Koutoulakis, Secretary General of the Ministry of Maritime Affairs and Insular Policy, who highlighted the rapid transformation of ESG reporting and sustainability into concrete and essential components of the shipping industry's new business model.

Dr. George Pateras, President of the Hellenic Chamber of Shipping (HCS), stressed the need to focus on feasible, science-based solutions instead of engaging in greenwashing. He noted that ESG has fortunately taken the right path, emerging as a valuable tool for genuine self-assessment and peer accountability.

In her keynote speech Mrs. Lillian Georgopoulou, Deputy Chief Listings Officer of the ATHEX Group, emphasized the importance of sustainable financing and identified green bonds as a key tool for investments in cleaner technologies and fleet retrofitting, allowing companies to access a broader pool of sustainability-focused investors and potentially lower their cost of capital. “At the Athens Stock Exchange, we remain firmly committed to supporting companies in financing their green transition. By providing access to sustainable capital and promoting ESG principles, we aim to play a pivotal role in helping businesses, including those in the maritime industry, achieve their sustainability goals while contributing to a more resilient and responsible global economy” she stated.

Insightful presentations and panel discussions:

1. Mr. Nikolaos Athanasoulis, Senior Manager of Climate Change and Sustainability Services (CCaSS) at EY Greece, presented a comprehensive overview of stakeholder perspectives on ESG performance, underscoring the vital importance of corporate sustainability reporting directives (CSRD) in integrating financial performance with environmental considerations.
2. Ms.Despoina Joanna Petsiou, Products Division Director at BPCO LTD Green Technologies, presented two key technologies for maritime decarbonization: rotor sail wind-assisted propulsion (WASP) and carbon capture systems (CCS) and how these technologies offer practical solutions for achieving future regulatory compliance and advancing maritime sustainability.
3. Mr. Filimon Antonopoulos,Managing Director Tallon Commodities Ltd., highlighted the importance of effective management of carbon emissions, advocating for forward-looking investment strategies in carbon allowances, especially given the belief that carbon prices will continue to rise.
4. Mr. Paul Tours, Senior Solution Consultant, Enablon, Wolters Kluwer EHS & ESG, deliveredan insightful presentation on ESG reporting, highlighting key areas such as effective data collection, stakeholder engagement, and transparency. He emphasized that ESG reporting is not a short-term sprint but a long-term marathon, pointing out that sustainability has a direct impact on financial performance and global competitiveness.

The Conference featured Panels that showcased Best Practices and facilitated Dynamic Discussions on the Key Challenges confronting the maritime industry.

• ·The "Leading ESG Strategies"panel featured a fireside chat with Angela Stark, Senior Vice President at Norwegian Cruise Line Holdings Ltd., the Gold ESG Leader Award winner, who outlined the company's decarbonization strategy focusing on efficiency, innovation, and collaboration. She highlighted the cruise line's community impact program aimed at fostering meaningful guest interactions with local communities, emphasizing the importance of thoughtful engagement and conducting a double materiality assessment to address community concerns. Kitty Mok, Director of Risk at Pacific Basin Shipping Limited and Silver ESG Leader Award winner, shared insights into her company's fleet renewal strategy, prioritizing dual-fuel and low-emission vessels. She underscored the significance of responsible governance, utilizing a three lines of defense model to ensure effective risk management across all levels of operations.
• ·Moderated by Mr. Ralf Garrn, Managing Director of OceanScore GmbH,the "Climate Change & Environmental Evolution" panel featured Mr. Stergios Stergiou, Capital Group, Dr. Vasileios Kosmas for Carnival Corporation & plc, Mr. Avraam Gelegenis, Diana Shipping Services S.A., Mr. Dimitris Solomonides, Lemissoler Navigation Co. Ltd., and Michael Blanding & Sylvain Julien representing Berge Bulk. The panelists shared insights into innovative decarbonization strategies, including the adoption of dual-fuel technologies, carbon capture initiatives, and sustainable fuel alternatives such as LNG, ammonia, and biofuels. Discussions focused on the challenges and opportunities in setting ambitious emissions reduction targets, navigating regulatory frameworks, and implementing energy-efficient technologies, highlighting the maritime industry's commitment to achieving net-zero emissions through innovation, collaboration, and strategic investments.
• ·Moderated by Dr. Nikolaos Liapis, President of the Hellenic Institute of Marine Technology,the "Technology & Partnerships" panel featured distinguished experts from the shipping industry, including Vasileios G. Petousis, Seanergy Maritime Holdings Corp., Dr. Vasileios Kosmas for AIDA Cruises, and Gregory Spourdalakis, Columbia Group. The panelists discussed transformative projects such as the SafeCraft hydrogen retrofit initiative, aimed at reducing carbon emissions by retrofitting existing vessels to utilize hydrogen as a fuel source, and AIDA Cruises’ battery energy storage system, which enhances energy efficiency and supports sustainable operations. The panel illustrated the critical role of strategic partnerships in overcoming technological barriers and the importance of innovative digital tools like EngineLink for emissions reduction. The conversation emphasized that collaboration between academia, industry, and regulatory bodies is essential for the shipping industry to thrive in its sustainability journey and achieve ambitious net-zero targets by 2050.
• ·In the panel discussion titled "Social Leadership," moderated by Mr. Konstantinos Oikonomou,CEO of Marine Tours, Cpt. Dimitris Agrimis, Navios Maritime Partners L.P. emphasized the company's commitment to achieving zero incidents through a human-centric approach, highlighting comprehensive training programs and tailored mental health support for over 4,000 crew members. Mr. Artemios Alifragkis, Atlantic Bulk Carriers Management Ltd., reinforced the crucial role of the human element in shipping and advocated for upskilling and collaboration with industry partners. Dr. George Baltas, Chandris (Hellas) Inc., shared his vision for leaving a legacy of sustainable practices and ethical leadership through ESG initiatives, while Mr. Mike Bradshaw, Fleet Management Limited, introduced the behavioral-based safety (SafeR+) program, promoting proactive safety culture through gamification and rewards. Ms. Efi Smyrlaki, Laskaridis Shipping Co. Ltd., highlighted the company's innovative use of an interactive wellness platform and advanced 3D scanning technology to enhance crew training effectiveness and retention rates, demonstrating a strong commitment to workforce wellbeing.
• ·The fifth panel discussion focused on "Diversity, Equity, and Inclusion (DEI)" in the maritime industry, featuring contributions from key figures like Mr. Stathis Theofilou, Bernhard Schulte Shipmanagement, who discussed initiatives such as cross-mentorship programs aimed at increasing female representation in leadership roles, resulting in a notable 31% representation on their management board. Mr. Evangelos Sfakiotakis, Diana Shipping Services S.A.  highlighted the All-Aboard Alliance initiative, emphasizing the need for equal opportunities for all genders onboard vessels and the company’s existing commitment to women in leadership roles, including a 40% female presence in their organization. Mr. Gregory Spourdalakis, Columbia Group, shared insights on their female cadet program, showcasing mentorship strategies that not only support women but also foster an inclusive culture for all employees, reflecting significant productivity and engagement benefits. Throughout the discussion, the moderator emphasized the challenges of overcoming male-dominated industry norms, advocating for greater awareness and support for female seafarers. The consensus among the panelists was that fostering an inclusive environment not only benefits individual careers but also enhances operational excellence and innovation within the shipping sector.
• ·An inspiring sixth panel discussion about Community Engagement and Youth Empowerment in Shipping featuring key industry leaders. Ms. Venetia Kallipolitou, Tsakos Energy Navigation Limited, shared her passion for nurturing young talent through initiatives like the Maria Tsakos Academy and the TEEN Nautical School, emphasizing their role in shaping the next generation of maritime leaders. Alongside her was Ms. Lydia Stathi, Latsco Shipping Limited,who highlighted her company's dedication to fostering sustainable practices through internships, scholarships and community engagement. Moderated by Mr. Yofis Florentin Founder and CEO of Learning Seaman, the panel addressed the importance of mentorship and collaboration within the shipping industry, showcasing various successful initiatives designed to bridge the gap between education and employment opportunities. Together, they exemplified the collective effort required to build a robust maritime future, empowering the youth to take on leadership roles and innovate for a sustainable tomorrow.
• ·In the last panel discussion moderated by Mr. Costas Constantinou, Managing Partner, Global Shipping Leader at Moore Greece, Ms. Erifili Tsironi, Navios Maritime Partners L.P. emphasized the importance of a majority-independent board and dedicated committees for audit and compensation. Ms. Georgia Fardellou, Starbulk Carriers Corp.noted the establishment of an ESG committee and highlighted that "we have one KPI related to one of the environmental goals, which directly influences bonuses for board members and employees, encouraging performance."  Ms. Korinna Tapaktsoglou, Pioneer Marine underscored the need for compliance with best practices and open communication to build trust within the organization.

The conference concluded with closing remarks from Mr. Jan Fransen, Chairman of the Judging Committee, who reflected on the pivotal role of the ESG Shipping Awards in promoting sustainability in the maritime industry.

The announcement of the ESG Shipping Awards 2025, scheduled for 23 May 2025, was made at the closing of the event, with applications set to open on 9 December 2024 and remain open until 7 March 2025.

Special thanks were given to the event planner, Stelina Markoulaki from Digital Shadows, her team, and partners for their efforts in making the conference a success.

Scholarship Initiative

Additionally, the Principal Organizers announced this year's Community Contribution: Ten scholarships for an ESG executive seminar provided by the Institute of Chartered Shipbrokers (ICS) and the National & Kapodistrian University of Athens (EKPA). The aim is to foster industry professionals equipped with sustainability knowledge.

Sustainability Actions

Furthering its dedication to transparency and climate action, the ESG Shipping Awards partnered with Emicert to measure and verify the Awards Ceremony & Gala Dinner’s carbon footprint, ensuring accountability in its efforts towards meaningful climate action.

Live Polls

Throughout the conference, attendees participated in live polls that shed light on the maritime industry's current landscape and future prospects. The results revealed mixed confidence in the shipping sector's ability to achieve net-zero emissions by 2050, highlighting both significant challenges and emerging opportunities. There was a strong consensus around Liquefied Natural Gas (LNG) as the primary fuel for the future, with growing support for nuclear energy, while interest in biofuels and methanol also emerged. However, concerns regarding the lack of global infrastructure and supply chains were identified as major obstacles to adopting alternative fuels, compounded by high costs. Poll results indicated a predominant expectation for EUA prices to range between €75 and €90 in the coming year, with many anticipating a drop to €60 to €75. Attendees expressed strong skepticism about unmanned vessels becoming the norm within the next decade. Finally, there was an overwhelming agreement that transparency and accountability are the foremost challenges facing governance in the shipping industry today.

Testimonials from Speakers

 “We were thrilled to have the opportunity to share NCLH’s Sail & Sustain sustainability journey at the ESG Shipping Awards 2024 International Conference. Collaboration will be the key to accomplishing our sustainability goals and this opportunity to connect with others in the shipping industry, celebrate our successes and communicate our challenges was invaluable.”

Angela Start, SVP, Assistant General Counsel, Securities, Sustainability & Compliance at Norwegian Cruise Line Holdings Ltd.

 ‘‘At the Athens Stock Exchange, we remain firmly committed to supporting companies in financing their green transition. By providing access to sustainable capital and promoting ESG principles, we aim to play a pivotal role in helping businesses, including those in the maritime industry, achieve their sustainability goals while contributing to a more resilient and responsible global economy.”

Lillian Georgopoulou, ATHEX Group, Deputy Chief Listings Officer

 ‘‘Who says shipping is a male-dominated industry? ESG is clearly changing the landscape, with around 50% of the attendees being women. I had the pleasure of meeting many young, passionate leaders who view shipping as a career path and see ESG as an essential part of its future.”

Ralf Garrn, Managing Director, OceanScore GmbH

"Extremely interesting ESG topics for discussion organized with excellence!"

Dimitris Solomonides, Chief Technical Officer, Lemissoler Navigation Co. Ltd.

"Our participation in the ESG Shipping Awards 2024 International Conference give us a firsthand opportunity to engage with industry leaders, share best practices, and showcase our unwavering commitment to ESG Principles."

Korinna Tapaktsoglou, Managing Director / CFO, Pioneer Marine

 “It’s been a great honor to have participated in the ESG Shipping Awards 2024 – THE CONFERENCE and to moderate the panel on Social Leadership. This event is a vital platform for the shipping industry, driving meaningful discussions on sustainability and responsible leadership.”

Konstantinos Oikonomou – CEO Marine Tours

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OceanScore reaffirmed its commitment to the Greek maritime industry by actively participating in two prominent events in Athens, to share latest insights into FuelEU, as well as conducting on-site workshops with clients to transfer practical knowledge and best practices. As the shipping industry prepares for the upcoming FuelEU Maritime regulations that come into effect 1 Jan 2025, OceanScore is leading the conversation on the regulatory landscape, preparations needed, and the commercial opportunities that lie ahead.

The first event, Marine Money Athens, took place on October 15. Ralf Garrn, OceanScore’s Co- Managing Director delivered an insightful presentation on the commercial and financial opportunities associated with FuelEU. His speech emphasized the need for shipowners and operators to act swiftly to comply with the new regulatory requirements, which aim to significantly reduce greenhouse gas emissions from maritime transport. FuelEU represents not only a challenge, but also a pathway to new revenue streams for proactive companies that are ready to embrace the technology leading to more informed decisions. Discussions about the commercial options and joint benefits must occur between all three main stakeholders (Owner, DOC Holder and Charterer) “No one can make a beneficial decision alone. It will be a joint effort to transform FuelEU penalties into a commercial benefit for all the parties involved.”, says co- Managing Director, Ralf Garrn.

The week concluded with OceanScore’s participation in the ESG Shipping Awards Conference on October 18. Ralf Garrn moderated a high-level panel discussion on climate change, the evolution of environmental regulations, pathways to zero emissions, and sustainable solutions. The panel featured key industry figures, including Sylvain Julien and Michael Blanding from Berge Bulk, Stergios Stergiou from Capital Group, Vasileios Kosmas from Carnival Corporation, Avraam Gelegenis from Diana Shipping Inc., and Dimitris Solomonides from Lemissoler Navigation Co Ltd, among others. The conversation underscored the urgent need for the maritime sector to adopt greener practices and highlighted practical approaches to achieving decarbonization goals.

OceanScore’s participation in these events, and its continued local presence and support provided through Oriani Hellas, reflects its ongoing dedication to the Greek market, a region that plays a pivotal role in global shipping. Frequent visits to Greece to meet with clients and prospects enable OceanScore to stay closely aligned with the local market’s needs and regulatory concerns. The company continues to support Greek shipowners and operators in navigating complex topics such as the European Emissions Trading System (ETS) and FuelEU regulations by offering tailored solutions designed to ensure compliance and operational efficiency.

“With the introduction of FuelEU Maritime next year, the shipping industry is facing one of the most transformative regulatory shifts in decades,” said Ralf Garrn. “We value our longstanding relationships with Greek shipowners and operators, and we are committed to helping them seize the opportunities that these changes bring while ensuring they meet sustainability targets.”

OceanScore’s FuelEU Planner provides a comprehensive tool set for simulating scenarios of different fuel types and offshore power, also factoring in bunker and ETS costs. By leveraging real-time data analytics and automated reporting, OceanScore empowers the maritime industry to enhance efficiency, reduce costs, and not only achieve compliance with ease, but to also find the opportunity in the regulations.

About OceanScore

OceanScore is a leader in sustainable maritime solutions, offering advanced data and software tools to help the shipping industry meet environmental regulations. With a commitment to driving sustainability in maritime transport, OceanScore supports shipowners and operators in navigating regulatory challenges and unlocking new business opportunities.

About Oriani Hellas

Oriani provides guidance and support as a trusted partner for companies going through the process of digital transformation. Their team of maritime professionals identify and represent the most innovative and value-add maritime digital solutions, with a view to improving operational efficiency and effectiveness through technology. Oriani has already guided over 40 businesses through this complex landscape with a variety of powerful tools, such as Oceanscore.

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Kongsberg Maritime will supply an extensive range of equipment for a new fleet of 10 platform supply vessels (PSV) being built by Fujian Mawei Shipbuilding in China for Greek shipowner. 

This significant contract win is valued at approximately 800 million MNOK, and includes all propulsion, automation, and energy systems.

The 10 contracted vessels, marks a major investment by Capital Offshore in the PSV market. The company, which owns and operates significant tonnage with a fleet of more than 100 vessels, has a strategic goal to expand in offshore oil and gas operations. These new vessels are intended for the Brazilian market.

“Capital Offshore has exciting and ambitious plans for expanding its operations in the oil and gas market, and we are proud to be playing a key role in helping them to achieve their goals through the supply of a significant package of integrated technologies across their new fleet of platform supply vessels.

This significant investment in a series of 10 new PSVs signals Capital Offshore’s intent to be a major player in future offshore operations. We look forward to building on our long and successful relationship with Fujian Mawei Shipbuilding in China on this exciting project”, said Mrs. Lisa Edvardsen Haugan, President, Kongsberg Maritime.

To achieve the most energy-efficient vessel operation while maintaining high levels of safety, the ten vessels will each feature a fully integrated electrical system, propulsion, and energy controls. This integration ensures that all components work seamlessly together to optimise performance and safety.

The Kongsberg Maritime electrical system on these vessels enables optimal, clean, and efficient operation through the Energy Storage System (ESS). The ESS provides power for peak shaving, spinning reserve, and power boost. This battery hybrid capability offers operational flexibility, allowing the vessels to run on a single engine or have full flexibility for engine selection, thereby reducing fuel consumption and emissions.

The 95-metre vessels of MMC 897 CD design, will showcase Kongsberg Maritime’s system integration capabilities in full. 

“By selecting our integrated solutions for propulsion, DP, automation and electro equipment, Capital Offshore will see benefits not only in increased fuel efficiency, but also lower OPEX costs,” added Lisa Edvardsen Haugan.

Mr. Gerry Ventouris, General Manager of Capital Ofsshore stated: “We are pleased to collaborate with Kongsberg Maritime, a leading provider of essential equipment for our new vessels. We aim to ensure that these vessels are of the highest quality, and partnering with Kongsberg Maritime is a critical step in achieving that goal. This cooperation reflects our commitment to excellence as we expand our operations in the offshore sector”.

Zheng Jinzhu, General Manager, Fujian Mawei Shipbuilding Ltd added: "The partnership between Fujian Mawei Shipbuilding Ltd and Kongsberg Maritime has a long history. The cooperation between the two sides of this project is rooted in Kongsberg`s cutting-edge technology, know-how and proven track record with customers worldwide.  We look forward to further collaboration with Kongsberg`s team experts for the successful delivery of the new vessels.”

The propulsion system for each vessel will comprise of two US 255 azimuth thrusters, a single ULE PM 155 retractable azimuth thruster and two TT2200 tunnel thrusters, all powered by permanent magnet motors. 

The DC hybrid electrical powerplant will include generators, DC-switchboard, transformers and Energy Storage Systems, and is fully integrated with the propulsion system and the DP to optimise operability, performance and fuel efficiency. 

Image: Photo:©MMC Ship Design & Marine Consulting Ltd

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Wilhelmsen Ship Management  pays tribute to Carl Schou who retires after 19 years of service including 16 years as CEO. Under his leadership, the company navigated industry challenges while instilling safety, innovation, and growth. Haakon Lenz, currently serving as Chief Operating Officer, will assume the role of CEO on 1 January 2025.

Steering rough waters and driving innovation and change

During his time at the helm, Carl Schou played a pivotal role in transforming Wilhelmsen Ship Management into a respected global leader, enhancing its reputation as a forward-thinking, responsible, and reliable ship manager. Schou emphasized the critical role of ship management in adapting to new regulations and the growing focus on decarbonization.

"We have made significant strides in modernising ship operations, prioritising safety for our seafarers, protecting the environment and enhancing overall efficiency. This is a long-term journey for the entire industry, and I am proud that Wilhelmsen Ship Management has been at the forefront together with our customers." Further reflecting on his time at Wilhelmsen, Schou remarked, "It has been an honour to lead such a talented and dedicated team for nearly two decades. Our success is rooted in a strong people-centric culture and our commitment to doing things the right way. I am confident that Ship Management will continue to thrive under Haakon’s leadership."

Grabbing the helm at pivotal moment for ship managers

Amid increasing regulatory pressures, ship managers with well-established systems are becoming crucial in assisting ship owners to operate their fleets in a compliant and cost-efficient manner. Haakon Lenz, a seasoned maritime leader with extensive experience across various operational and technical functions, is poised to lead Wilhelmsen Ship Management into this next chapter. Lenz started his career in DNV before moving into ship management for V.ships Norway. He joined Wilhelmsen Ship Management in 2008 and has since held several leadership positions, including Vice President for Region Europe and the US. Most recently, as Chief Operating Officer, Lenz oversaw the operations of Wilhelmsen Ship Management globally.

“I am eager to build on the strong foundation Carl has laid,” Lenz commented. “I look forward to working closely with our talented team. Together, we’ll continue our focus on operational excellence, sustainability, and growth— always putting people at the core of what we do as we support our customers in the challenges ahead."

Lenz’s technical expertise as a naval architect, combined with his hands-on experience in ship management and global operations, makes him well-positioned to continue Wilhelmsen’s tradition of delivering world-class ship management services.

Seamless relay and turning 50!

As Haakon Lenz takes on his new role as CEO of Ship Management 1 January, Carl Schou will continue to support Haakon in the capacity of senior advisor for a period of six months. This ensures a smooth transition for all customers, employees and stakeholders as the company moves forward under Lenz’s leadership. In 2025, the company will also celebrate 50 years of delivering services under Wilhelmsen group ownership. Building on the group’s maritime legacy and reputation, Lenz and his team will remain focused on delivering high-quality ship management services.

About Wilhelmsen Ship Management

Wilhelmsen Ship Management is the ship management arm of the Wilhelmsen Group. We are one of the world’s largest third-party ship managers with a portfolio of more than 450 vessels and 12,000 active seafarers. Wilhelmsen provides technical and crew management services for various vessel segments: LNG/LPG; Ro-Ro and PCC/PCTC vessels; FPSO/FSO; Container; Cruise; Bulk; Seismic; and Offshore. Wilhelmsen manages vessels from eight offices worldwide alongside a crewing network of 11 manning offices. Other key services include dry-docking services, layup services and newbuilding supervision.

About Wilhelmsen

Founded in Norway in 1861, Wilhelmsen is now a comprehensive global maritime group. Committed to shaping the maritime industry, through our market-leading products, services and support, we also seek to develop new opportunities in renewables, zero-emission shipping, and marine digitalisation. We take innovation, sustainability, and unparalleled customer experiences one step further.

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In the framework of Intercargo’s general assembly in London and elections that took place, Mr. Yiannis Xylas was elected as the New President of Intercargo (International Association of Dry Cargo Ship Operators).

Mr. John Xylas succeeds Mr. Dimitris Fafalios, who served the association for six consecutive years and who was declared Honorary President of Intercargo.

Uttam Kumar Jaiswal of Pacific Basin Shipping Limited was elected vice president of the board of Intercargo and Metaxia Psalti, of Neda Maritime Agency, will take over her duties from Spyros Tarasis.

Mr. Xylas for a number of years has served Greek shipping from different institutional positions and roles.

Today he is the Treasurer of the Union of Greek Shipowners and a member of the board of directors of HELMEPA, and managing director of the shipping company Ariston Navigation Corp.  

image: Mr. John Xylas, new president of Intercargo

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Mia Jensen, Director Greece & Events Organiser, Marine Money International opened the seminar and introduced the first speakers Chara Georgousi and Matthew Harrington, Research Analysts, Allied Shipbroking Ltd.who asked Must what goes up come down? They said that dry bulk carrier fleet remains much younger than the tanker, n/b prices are unlikely to decrease even if yards utilization rates drop. Fleet renewal will be driven by aging vessels and decarbonization rules.

BEST SHIPPING STRATEGY IN THE CURRENT MARKET

A panel followed with speakers Jerry Kalogiratos, Chief Executive Officer, Capital Clean Energy Carriers Corp.

Achilleas Tasioulas, Chief Financial Officer, GasLog Ltd. & GasLog Partners LP

George Souravlas, Founder & CEO, Load Line Marine SA, Aristides Pittas, Chairman and Chief Executive Officer, Euroseas Ltd. / EuroDry Ltd. The discussion was Moderatored Resianna Zachou, Director, Shipping Industry Centre of Excellence, PwC

The speakers pointed out that there seems to be few clouds on the horizon for shipping. The mix of supply, demand, regulation and geopolitics looks set to keep shipping in a good place for the next years. The companies took advantage of the favorable conditions in the freight market to modernize their fleets with newbuilding ships selling older tonnage.

Euroseas modernized it’s fleet with 9 newbuilding feeder container vessels chartering them in long time periods.

The speakers also referred to the parameters that will influence the shipping market like geopolitical tensions, climate crisis, de globalization and decarrbonization regulations. By keeping your operating costs at the lowest and take strategic decisions regarding energy transition and digital transformation you can feel safe in a constantly changing world. The speakers also focused on the investments that may have been made in the transportation of new modes of energy like ammonia CO2 etc. The shipowners should not take too much risks in adopting new fuels since we don’t know which fuels will prevail in the future. In addition to this EUETS FuelEU must give incentives to all stakeholders to reduce carbon emissions. Finally the speakers are optimistic for the market as the fundamentals are robust although shipping is a volatile business. The only concerning issue is the supply of vessels because of the extensive newbuilding orderbook.

CURRENT INVESTMENT OPPORTUNITIES

The topic of Identifying current investment opportunities in LPG shipping was discussed by Peter Hadjipateras, Chief Information, Security and Sustainability Officer, Dorian LPG, John Theodorakis, COO, SwissChemGas Ltd., Constantine Hadjipateras, LPG Chartering, Arrow Hellas

Ahmed Bassuny, Chartering Director, Alpha Gas SA. The panel Moderatored by Nick Filippou, Managing Partner, Anfil Gas. Greek shipowners have diversified to new sectors in recent years, one being LPG. The market is strong and growing. Vessels, new and second hand, have increased in value substantially. The speakers marked that the anticipated demand growth for ammonia, with multiple tankers slated to incorporate ammonia in their cargo list. These pumps are used in specifically LPG tankers, to handle and transport ammonia (NH3) as cargo.

CAPTAIN OF INDUSTRY

In the session Captain of Industry Spyros Capralos was interviewed by Kevin Oates.

Spyros Kapralos has spent his life as a leader in sports, finance and shipping. Apart from other highlights he represented Greece at the 1980 and 1984 Olympic Games, he was Chairman and CEO of the Athens Exchange. During the last 15 years he has served the position of CEO of Star Bulk Carriers Corp., CEO of Oceanbulk Containers and now Chairman of the Board of Directors at Star Bulk Carriers Corp. He is also President of the Hellenic Olympic Committee, President of the European Olympic Committee and a Member of the International Olympic Committee.

Spyros Kapralos highlighted on his decision to be involved in shipping under the guidance of Petros Pappas managing to expand the fleet of StarBulk to the largest Stock Exchange listed bulk carrier company worldwide. Through mergers and acquisitions the company aims at significant at significant cost savings and returns for the investors.

He referred to the company’s investment to install scrubbers in all vessels and the company’s strategy to address sustainability and digital transformation.

Talking for his involvement in the Olympic Committee he said that he is always inspired by the vision of the Olympic spirit and dream for peace and stability achieving the team spirit and commitment to the shipping business.

QUALITY DATA DRIVE SUSTAINABLE TRANSITION

The next panel was involved in the topic of quality data and how can these optimise vessel performance. The following speakers were discussed this important issue:

Dimitris Theodossiou, Managing Director, Danaos Management Consultants S.A.

George Rovis, Co-Founder & CSO, Seafair

Vassiliki Georgopoulos, Partner, Watson Farley & Williams

Philip Nielsen, Co-Founder, Oriani

The discussion was moderated by Semiramis Assimakopolou, Senior Vice President of Sales, Signal Group.

Quality data must be linked to the commercial performance of a company and benchmark several indexes meeting the IMO emissions targets and technical standards.

Quality data drive the sustainable transition while securing return on investment. Lacking data quality serves as a major challenge in driving, documenting, and financing the maritime sector’s route to net zero.

M&A ACTIVITIES

M&A activity was the next topic of the conference.

Douglas Mavrinac, Global Head, Maritime Investment Banking, Jefferies LLC and Harrys Kosmatos, co-CFO, Tsakos Energy Navigation Ltd were nterviewed by Edward Horton, Partner, Capital Markets Group, Seward & Kissel.

We are seeing more M&A activity in shipping, both private and public, than for some time.

CAPITAL MARKETS AND EQUITY INVESTMENTS

The topic of Capital markets and equity investments were discussed by Stavros Gyftakis, Chief Financial Officer, Seanergy Maritime Holdings Corp.

Evangelos Chatzis, Chief Financial Officer, Danaos Corporation

Simos M. Pariaros, Chief Administrative Officer, Euroseas Ltd. / EuroDry Ltd.

Hugh B. Eden II, Managing Director, Jefferies LLC

Moderator: Sally-Ann Underhill, Co-Office Managing Partner, Athens, Reed Smith

The current environment encourages joint ventures and not raising capital from the stock exchange because existing investors have to sacrifice value. Capital markets must the engine for growth but for different other market conditions.Both public and public equity have a important role to play and will go hand in hand in the future.

Shipping is making great earnings and cash flows look as if they have a two year runway. Vessel values are high to reflect the solid market fundamentals.

Today listed shipping companies have a huge pool of capital and have access especially to international bond equity.

In such an environment the earnings are very strong so to reinvest the profits you have to examine very carefully each case to take advantage of real opportunities.

In any case public equity is a choice for companies that would like to grow and to follow a corporate model.

FINANCE TO GREEK SHIPPING

Alexis Stephanou, Chief Financial Officer, Goldenport Group of Companies

Christopher Thomas, CFO, TC Holdings

Robert Perri, Chief Executive Officer, OceanPal Inc.

Thomas Lister, Chief Executive Officer, Global Ship Lease, Inc.

Yiannis Kourkoulis, Vice President of Purchase, SPM Shipping and Peter Theochari, Partner, Maritime, Trade and Offshore Group, Stephenson Harwood LLP (London) discussed best finance options and finance to Greek shipping in 2024.

Greek banks are back with a flurry and actively financing Greek owners. Global banks have appetite for larger deals from Greeks home and abroad.

Leasing solutions from Asia and Europe abound for deals big and small. Finance is plentiful and financiers have trouble free portfolios. The financing options is so diverse from lending banks leasing houses and other ways. The speakers also commented that the low margins in the interest of lawns helps the shipping companies to have a low leverage profile.

In addition to the above the last years there is a shift from European banks to the East financial institutions providing capital in very competitive terms. A general observation is you have money when you don’t need and when the times are difficult you hardly get financing.

TRENDS AND CREDIT REQUIREMENTS

In the following session financiers discussed trends and credit requirements.

Iraklis Tsirigotis, Director of Origination, Neptune Maritime Leasing, Nicholas Petrakakos, Partner & Managing Director - Maritime & Offshore, Investment Banking, Alantra, James Stove-Lorentzen Jr, Managing Partner, NorthCape, Mathias Haugen, Sales Manager, BOCOM Leasing, Wilhelm Magelssen, Partner/Fund Manager, NRP Maritime Asset Management AS and Alexia Hatzimichalis, Partner and Head of Athens Office, Watson Farley & Williams said that not all shipowners have access to any kind of financing. It depends on the company’s credibility track record and the structure of the project.However for big and medium shipowners have more access to financing because of the favorable market conditions. The offshore segment presents excellent opportunities for investors as well as new energy transportation such as ammonia and CO2 and other green projects. There is always a difference between the pricing and the security the potential lender may require.

Hundreds of billion will be needed to renew the global fleet in the next 10-20 years so the financing options will diverse more and more to meet the capital demand of the shipping market. Western banks because of Poseidon principles are more secured than the rest financing institutions however cyclically and geopolitical events may cause scarcity of funds in the foreseeable or long/medium term future.

SIRE 2.0 Initial Experience & Commercial Implications was presented by Efthymios Louridas, General Manager, Seacon Ships Management (Europe) S.A.

GREEK SHIPPING AT THE CROSSROADS OF DECARBONIZATION

There is a huge effort being made to meet decarbonisation targets and to make the Greek fleet cleaner. In this framework experts discussed the current situation and how to reach the coming targets.

They responded to questions like What technologies are now available? Is there a premium for being first mover? Are financiers doing anything to incentivize their clients to decarbonise through sustainability-linked loans?

What is the operating reality of decarbonization and its cost, and the progress being made by the Greek fleet. The topic was delivered by Vincent Willems, Finance Manager Marine LNG, Shell, Stergios Stergiou, Sustainability Director, Capital Clean Energy Carriers Corp., Spyridon Zolotas, Senior Director, South EMEA Region – Marine, RINA, Alexandros Damianidis, Partner, Watson Farley & Williams and Alexander Prokopakis, Executive Director, International Bunker Industry Association (IBIA).

Alignment with climate change objectives and environmental scope of the program/project are accessed according to the Poseidon principles and if the targets are achieved there is a reduction in the pricing of the facility in an effort to incentivize shipping companies to proceed with decarbonization process more quickly.

Speakers are confident that will be a premium embedded to the freight for eco friendly vessels and first sustainability movers.

In addition to these availability of new fuels and cost will be major factors that will determine the future of decarbonization.

FuelEU Maritime: From Challenge to Opportunity

FuelEU's upcoming implementation is spurring negotiations on FuelEU clauses in charter parties and ship management agreements.

Ralf Garrn, Managing Director, OceanScore highlighted opportunities to cut costs and secure profits by creating compliance surpluses through alternative fuels, optimizing shore power, and strategic compliance pooling.

GREEK SHIPPING FLYING HIGH

The Greek owned fleet is growing, the average age is falling, there is more diversification into gas and offshore. Liquidity levels are high and Greek banks and others are there to finance. Greek shipping really is flying high.

George Giannakis, Managing Partner - Maritime & Offshore Investment Banking, Alantra

Charis Plakantonaki, Chief Strategy Officer, Star Bulk Carriers Corp.

Nikos Gkezepis, Chief Financial Officer, Neptune Lines Shipping and Managing Enterprises S.A.

Christina Anagnostara, Managing Director, Investment Banking Division, AΧΙΑ Ventures Group Ltd explained how to future proof their businesses at this time of high liquidity, high rates and a good outlook for the next two years.

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