The uncertainty surrounding the use of alternative fuels and the multitude of solutions available to shipowners to cut their vessel emissions, dominated discussions at the first Elaborate Communications Decarbonisation Summit in Athens.
The three hour conference, held in front of 120 Greek shipowners, managers, manufacturers and classification societies, outlined the current policy landscape and regulation before discussing the emerging technologies and alternative fuels currently available.
A hard-hitting panel, moderated by Professor Dimitris Lyridis, an Associate Professor in the area of Maritime Transport in the School of Naval Architecture and Marine Engineering (NA&ME) at the National Technical University of Athens (NTUA), also discussed the funding mechanisms and financial incentives for the various decarbonisation projects.
Delegates heard Stamatis Fradelos, Vice President of Regulatory Affairs at ABS, talk about the regulations moving forward for environmental protection and maritime safety and he suggested that emissions were still increasing despite slow steaming. The target of 70% reduction in emissions by 2040 would be a tough ask, he hinted.
Lefteris Koukoulopoulos, Regional Decarbonisation Specialist at DNV, said that while conventional ships would continue to be built relying on speed reduction, vessel routing and hull coatings as well as machinery improvements to reduce energy consumption, onboard carbon capture and storage can reduce the demand for carbon-neutral fuels.
Peter Borgnaes from Alfa Laval’s Environmental Solutions Marine Division, outlined his company’s OceanGlide technology – which pumps air bubbles around the hull. “OceanGlide doesn’t just pump air under the vessel. Using fluidics, it creates an actual air layer – with much higher efficiency. That air layer covers the vessel’s entire flat bottom. And because of how it’s produced, it can be fully controlled and optimised,” he said.
Hydrus was also in attendance with its Senior Engineer Nikolaos Christopoulos outlining the Decarbonisation Strategy Roadmap, while George Ntroulias, Business Development Director, joined the debate on the financing round table.
Wärtsilä’s Truls-Magnus Lindseth, talked about the importance of carbon capture while his colleague Giorgos Samoilis introduced the audience to its EnergoFlow system, which is an innovative, robust and cost-effective pre-swirl stator that increases fuel efficiency without increasing maintenance needs.
Captain Pankaj Sharma, Group Director of Digital Performance at The Columbia Group, told delegates that its EngineLink engine digitisation tool was an innovative cost-effective game-changer for ship owners and ship managers. “With its smart data capabilities, EngineLink can transform Fleet Monitoring, Engine Condition Assessment, and Emission Tracking, catering to the customised needs of clients regardless of the type of machinery on-board or engine room layout. It has successfully been installed on over 300 vessels, making it a holistic solution that adapts to meet customer expectations,” he said.

Image: Elaborate Communications Decarbonisation Summit

Left to right: Stamatis Fradelos, VP Regulatory Affairs, ABS; Lefteris Koukoulopoulos, Regional Decarbonisation Specialist, DNV; Peter Borgnaes, Global Sales Manager and Environmental Solutions Marine Division, ALFA LAVAL; Truls-Magnus Lindseth, Sales Manager Exhaust Treatment, Wärtsilä ; Giorgos Samoilis, Sales and Sales Support Manager, Wärtsilä  

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Laskaridis Shipping Co. Ltd, a prominent player in the maritime industry has taken a significant step towards digitalization by adopting the NEREUS platform, developed by the innovative Greek company Nereus Digital Bunkers.
Laskaridis Shipping Co. Ltd. has enhanced its marine fuel management from negotiation to post-fixture by incorporating Nereus Digital Bunkers' NEREUS platform, an end-to-end solution streamlining the entire marine fuel procurement process.
In this collaboration, the advanced industry experience of Laskaridis Shipping meets the technological innovation of Nereus Digital Bunkers. The NEREUS platform is set to simplify and expand the company's bunkering operations significantly, by cutting down the workload by 68%. This considerable efficiency boost is expected to make everyday tasks quicker and more straightforward, helping Laskaridis Shipping streamline its data driven operations.
Laskaridis’s Shipping decision to integrate the NEREUS platform is in line with the industry's shift toward digital solutions. It showcases Laskaridis's endeavors to digitalized its operations and its readiness to adopt new processes that offer tangible benefits.
Mr. Nikolas Gkikas, CEO of Nereus Digital Bunkers, has commented on the collaboration: "Working with Laskaridis Shipping Co. Ltd., we're bringing together the best of technology and industry know-how to enhance shipping operations."
As the shipping industry evolves, Laskaridis Shipping Co. Ltd. is taking a practical step forward by incorporating the NEREUS technology. This move not only supports their operational goals but also shows their dedication to staying at the forefront of industry advancements.

Image: Mr. Nikolas Gkikas and Mrs. Kelly Dritsa, Co-Founders of Nereus Digital Bunkers

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ShipMoney is celebrating 10 years providing digital payment solutions to the maritime industry.
Founded in 2013 by Stuart Ostrow, a Florida-based CPA and entrepreneur, ShipMoney set out to challenge the archaic way seafarers were paid and to update the cash-based infrastructure that most cruise and commercial ships relied on for decades.
“On behalf of our entire team, we would like to personally thank all of our clients, vendors, partners and most importantly the crew members who we have worked very hard to serve every single day over the past 10 years and whom we will continue to support in the future,” said Mr. Ostrow.
“This has been such a remarkable journey from developing and implementing the first successful crew payroll card program for the cruise industry many years ago to developing our own proprietary digital maritime payments platform with annualized payroll funding exceeding $1 billion annually.”
“Strong financial partnerships are the foundation on which ShipMoney built the world’s most trusted maritime payments platform in the industry.  Clients entrust us with billions of dollars of funds for their crew and the single most important factor to consider is the safety and security of these funds.  ShipMoney’s funding structure offers the highest-level of protection and continuity in the industry by offering fully insured FDIC client accounts within the United States,” added Mr. Ostrow.
To view the video use this link: https://youtu.be/GEotjaVZMvA

Image: Ship Money President and Founder, Stuart Ostrow

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Meadway Shipping shares a significant change that mirrors its growth and renewed vision. Starting 19th of February 2024, will be known as DRYDEL SHIPPING.
Mr. Costas Delaportas, President & CEO stated: At DRYDEL SHIPPING, we are thrilled to begin this new chapter, demonstrating our strong commitment to excellent service and a bold, innovative approach in our work. To ensure a smooth transition, here is an overview of our upcoming name changes:

• • Meadway Shipping and Trading Inc will be renamed DRYDEL SHIPPING INC.
• • Meadway Shipping Singapore Pte. Ltd. will be renamed DRYDEL SHIPPING SINGAPORE PTE. LTD.
• • Meadway Shipping DMCC will be renamed DRYDEL SHIPPING DMCC
• • Meadway Maritime Chartering S.A. will be renamed DRYDEL MARITIME CHARTERING S.A.

This rebranding is designed to set us apart in the marketplace and eliminate any confusion due to similar company names. Please rest assured this change will not impact our ownership, team, or operations. All existing contracts, services, agreements, and commitments remain in place.
Contact details, including addresses and phone numbers, stay the same, except for our email domain which will change from meadwayshipping.com to drydelshipping.com
Please note that while our new emails will adopt the domain @drydelshipping.com, our current email addresses will remain valid to ensure a smooth transition.
Your trust and partnership have always been essential to our success. We assure you that our commitment to high-quality service remains as strong as ever. We are eager to continue building on the strong relationship we have developed over the years.
Thank you for being a crucial part of our journey. As we build on Meadway's rich history of more than 35 years, we look forward to achieving continued success together with the new name of DRYDEL SHIPPING.

Image: Costas Delaportas, President & CEO of DryDel Shipping

Inauguration ceremony for the project "Completion of the Expansion of RoRo (Car Terminal) - Heracleous Port"

The inauguration ceremony for the project “Completion of the Expansion of RoRo - Heracleous Port” took place at the Car Terminal of PPA S.A.
It is a project with a total investment of €20 million which is included in the Mandatory Investments of PPA S.A., within the framework of the agreement with the Greek State. This project will further improve the competitiveness and attractiveness of the port as a vehicle transshipment hub in the Mediterranean.
The expansion of the Car Terminal by approximately 40,000 m2 towards the northern side of the port, increases the total area of the New Terminal to 110,000 m2, which overall creates car storage space with a capacity of 5,100 cars, thus contributing to the further development of the Piraeus Port Authority.
The Chairman of PPA S.A. Mr. Yu Zenggang stated: "Today another one step was taken towards the realization of COSCO SHIPPING's holistic vision for the Port of Piraeus. The Expansion of the Car Terminal will act as a driver of development for the wider area. We would like to thank the Greek Government for the excellent cooperation and we will continue to cooperate for the promotion of the Port of Piraeus as one of the top ports in the world and to further increase our positive footprint in Greek society and economy".
The implementation of this great project was welcomed at the event by the Minister of Maritime Affairs & Insular Policy, Mr. Christos Stylianides, who represented the Prime Minister and the Greek Government and stated: "The completion of this investment, totaling 20,000,000 euros and the expansion of 40,000 sq.m., is an important achievement, as it creates new perspectives for the port of Piraeus. At the same time, it will significantly strengthen the competitiveness and attractiveness of the country's biggest port". Mr. Stylianides also pointed out that "with the implementation of this pivotal project, the government's strategic commitment to development and innovation is confirmed. At the same time, the leadership of our country in the world of shipping, is being enhanced."
Also, the inauguration ceremony honored with their presence the Minister of Economy & Finance Mr. Kostis Hatzidakis, who mentioned: "The positive developments in the port of Piraeus are a substantial contribution to economic development for the benefit of all Greeks! Today's expansion of the car terminal at Herakleous Port will be followed by many more projects to upgrade the country's port infrastructure in the coming months and years. The policy we are implementing - as Government and as HRADF - for the utilization of Public Property in the biggest Greek ports, will create benefits for Greece. And we are only at the beginning!", as well as the Minister of Infrastructure & Mr. Christos Staikouras who pointed out: “Piraeus is, today, one of the fastest growing ports in the world. With the PPA adding economic value to the country equal to 1.56% of its GDP. Having this value as a given, but also taking advantage of the experience of the development of the contractual relationship of the parties (Hellenic State, COSCO, TAIPED) in the previous years, we proceeded in 2021, to amend the Concession agreement, in order to ensure its smooth execution. The result of this new, functional and balanced contract is the implementation of investments, such as the one we are inaugurating today, which concerns the expansion of the Car Terminal.
The event was also attended H.E. the Ambassador of the People's Republic of China to Greece Mr. Xiao Junzheng, who highlighted: “Piraeus Port has become one of the most important transportation hubs for Chinese vehicles exported to Europe. It is worth mentioning that in 2023, the Chinese vehicle brand "MG Motor" and the Chinese high-end smart electric vehicle brand "Seres" entered the Greek market for the first time. The entry of Chinese electric vehicles into Europe and Greece not only promotes the green transformation of transportation in Europe and Greece but also effectively promotes the rapid development of the roll-on/roll-off business in Piraeus Port”.
The ceremony of blessing was performed by the Metropolitan of Nicaea, Mr. Alexios, in the presence of important government and institutional representatives.

About PPA S.A.: Piraeus Port Authority SA is an Athens Stock Exchange listed company engaged in the management and operation of Piraeus port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as general cargo, ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world. Over the last decade the company has experienced a remarkable growth in all port activities, which is still underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to the society. PPA is a member of “ECO PORTS”, holds ISO 9001:2015, ISO 14001:2015, ISO 50001:2018 Certifications, is included in the Athens Stock Exchange ESG index and is one of the “Most Sustainable Companies in Greece 2023”.

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Mr. George Alexandratos - General Manager of Apollonia Lines S.A - Chairman of the BoD of the PMC opened the conference which represents the quality of events that the Piraeus Marine Club would like to host with remarkable personalities discussing the hot topics of Shipping. This year’s event was a sold out organization and fully interactive with the audience voted against or for the motion.
Ms. Maria Prevezanou - Director of Evmar Marine Services Ltd. - Treasurer of the BoD of the PMC / Organiser of the Conference focused on the p&i’s seminar 23rd anniversary and presented the distinguished speakers and Mr. Lou Kollakis - Honorary Chairman of Chartworld Shipping Corp. described the broader trend and scene of the marine insurance market which highly influenced by the war conflicts around the world and the economic uncertainties.
The following motion was discussed by the panel: “This House believes the current retention level of $10 million remains an appropriate attachment point for the International Group.”
Mr. Jerry Westmore Head of Underwriting Steamship Insurance Management Services Limited supported the motion which as he said the $10m limit protects the interests of the members and pricing stability.
Mr. Dimitris Batalis General Manager – Greece The Shipowners Club (SOP) also spoke for the motion marking that there is no obvious reason to increase the level of $10m as this would mean more expenses for the insureds.
Ms. Victoria Papageorgiou Associate Director The London P&I Club claimed that because of the different types and the volatility of casualties that come into the IG it is appropriate a retention limit of $10m to be maintained.
Mr. Ludvig Nyhlen Area Manager Team Greece The Swedish Club told that due to the retention level the Clubs handle more efficiently the different casualties protecting the interests of Clubs and its members.
Mr. Sean Geraghty Regional Director of Greece Thomas Miller P&I Ltd ( UK Club) spoke Against The Motion. He supported that it is very important the IG to cope with the ordinary claims that will come into the IG after a review of the retention level which will also have a positive effect on the underwriting discipline of the clubs and he suggested an increase to $14-15m.
Next motion was “This House believes that the International Group of P&I Clubs, given the unsurpassed size of its constituency, should do more to intercede with regulators across the globe on policies which inhibit the free conduct of maritime commerce.”
Mr. George D. Gourdomichalis Managing Director Phoenix Shipping & Trading S.A moderated the discussion.
For The Motion spoke Mr. Daniel A. Tadros Chief Operating OfficerAmerican Steamship Owners Mutual Protection & Indemnity Association, Inc. who insisted that the more involvement of the IG in the international forum the most will be for the benefit of the P&I Club and its members.
Mr. Mike Salthouse Head of External affairs NorthStandard Ltd also agreed that further collaboration with the governmental and regulatory and especially in UN will protect our industry from substandard practices that harms the image of shipping and promote the remarkable engagement of shipping in the development of world trade and economy. IG has a collective experience that might help the governmental bodies to cope with several challenges like sanctions imposed against various countries that have an illegal and terrorist activity.
The 3rd motion of the conference was about UN’s 17 Sustainable Development Goals.
Mr. Andrew Cutler Chairman of the International Group of P&I Clubs supported that ‘The IG should be more proactive in supporting the UN’s SDGs’.
Mr. Dinos Caroussis Director Chios Navigation ( Hellas ) Ltd. moderated the panel of speakers that discussed the following motion: “This House believes that, bearing in mind that certain ship-types would appear to attract more significantly large Pool claims than others, and recalling that in the past clubs within the International Group were required to apply minimum rates to tanker tonnage, to say nothing of surcharges to tankers trading to the United States post-OPA 90, there may be virtue in entertaining a similar regime going forward, for example in relation to pure car carriers, given the hazards of Li-ion batteries.”
For The Motion : Mr. Kjell-Ake Augustsson Senior Vice President, Head of Skuld Hellas Skuld Against The Motion spoke Mr. Bjørnar Andresen Group Chief Underwriting Officer Gard As who supported that there is no any extra danger in the pure car carriers from Li-ion batteries as this material is used extensively in the construction of all vessels that incorporate new technology.
Final motion: “This House believes that the increasing danger of transiting the Red Sea Bab el Mandeb Straits allows Owners to refuse Charterers’ orders to do so.”
Moderator : Mr. Dinos Caroussis Director Chios Navigation ( Hellas ) Ltd.
For The Motion : Mr. Ian Clarke Head of Claims & Regional Director (Hellas) West of England Insurance Services SA. who told that the master and the shipping company have the duty to examine the objective conditions and decide how to approach the risks posed by the voyage.
Against The Motion spoke Mr. Dale Hammond Director Britannia Steam Ship Insurance Association Limited. argued that wouldn’t be applicable for owners to cancel the terms of the charter party and deviate around the Cape. It depends on the charter party clauses to reject or not the charterers orders.
The event was concluded with the Closing Remarks by the Chairman Mr. Lou Kollakis.

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Greek Shipping Takes Centre Stage at Posidonia 2024 Amidst Industry Transformation

Posidonia 2024 is already on track to be the biggest ever in the long history of the world’s most prestigious shipping exhibition, as the safety and resilience of the international maritime community take centre stage during a crucial year underpinned by a complex volatile backdrop of widespread ongoing geopolitical conflicts and the enforcement of environmental regulations.
For an industry that is responsible for over 80% of the volume of global trade, the issues are hot, the stakes are high, but the mood is optimistic, as decision-makers ponder about the impact of prolonged international conflicts on the freedom of navigation, and their companies race to comply with sustainability directives that are causing concerns amongst stakeholders within the shipping community.
Over 2,000 exhibitors and 40,000 visitors are expected to converge in Athens’ Metropolitan Expo Centre from 3 to 7 June for Posidonia 2024 which is set to emerge as the epicenter of global shipping for navigating these challenges and fostering crucial dialogue to shape the future of maritime trade. And the industry’s constant diversification is reflected by some 45 newcomers to Posidonia, who represent both software and hardware products as well as government agencies from around the globe.
Theodore Vokos, Managing Director, Posidonia Exhibitions S.A. said: “This year’s Posidonia timing is perfect, as it will be held at a time when many parameters affecting shipping will have to be discussed and new initiatives will be launched. The last couple of years have been geopolitically challenging, with new crises erupting around the globe and shipping having to adapt to new challenges every six months. The wars in the Ukraine and Gaza, the temporary closure of the Red Sea passage, limitations to the Panama Canal, and other challenges have affected planning and operations of the entire shipping industry.
“In addition to the above, new regulations and the industry’s drive to meet sustainability demands have been the catalyst for the latest industry developments. New technologies will be showcased and fuel options will be once again discussed at Posidonia 2024, as the industry rushes to meet the 2030 and 2050 environmental goals. This interaction between policy makers and industry on the exhibition floor and the conference halls creates fruitful dialogue and creates the conditions which will allow shipping to become a sustainable industry.”
Decarbonisation of shipping will be on the radar more intensely than ever before, as the industry will debate ways of achieving sustainability targets set by new environmental regulations. Route optimisation and weather prediction software services, sail rotors harnessing the power of wind, advanced hull coating systems and air lubrication reducing resistance and therefore fuel consumption, solar panels on ships, engines running on alternative fuels or optimised to slow steam, and many more developments will all gain in prominence in 2024 at the Posidonia exhibition floor.
As the Union of Greek Shipowners (UGS) took a leading role in the "Shaping the Future of Shipping: Delivering a Net Zero World" Summit, organised in the sidelines of COP 28 by the International Chamber of Shipping (ICS), it becomes evident that this summer Greek shipping will lead the way in tackling the issues and challenges global shipping and the global economy face towards a net zero world.
UGS President Melina Travlos stressed shipping’s core message about the sector's decarbonisation: the imperative need for cooperation and coordination of all parties involved in the transport chain, for the achievement of the goals of the International Maritime Organization (IMO).
She underlined the importance of a unified approach among governments, regulators, and stakeholders, inviting all states to support the IMO in its ambitious work.
“Time flies and yet large challenges remain, and new ones are emerging. However, if we can work together to achieve our shared goals, the prize will be greater than the greening of our industry, it will be the greening of all industries. We cannot even discuss, let alone succeed, with a global energy transition without shipping and its role as a catalyst in every aspect of socioeconomic change and progress. Shipping has always guided global change through motivation, determination, and vision, and now it has to inspire and lead, once more. Shipping has always built bridges for growth and prosperity. This is our purpose, our duty, and our commitment to the world.”
As technology becomes mission critical, shipping companies are becoming early adopters and direct investors in new technologies. In the recent years the shipping industry has taken huge steps towards the digitalisation of its operations and adoption of new technologies in all segments of the business. At Posidonia all new technologies will be presented, enabling the shipping industry to familiarise itself with products and services that will revolutionise its modus operandi in the years to come.
The extended Posidonia Conference and Seminars programme, including forums like the Tradewinds Shipowners Forum and the HELMEPA Conference, which attract the most senior shipowners from around the globe, will address the most critical issues in the industry.
The addition of the Greener Shipping Summit, organised by Naftiliaki/Newsfront under the auspices of MARTECMA, the Marine Technical Managers Association, which comprises the technical directors of the biggest shipping companies of Greece, brings a focus on evaluating new technologies and their potential use by shipping companies. But as Posidonia grows, one week to debate all issues is not enough. For this reason, the conference programme starts the week before, with the Marine Insurance Greece Conference. This one-day event will be focused on bringing brokers, insurers and third parties together with the Greek shipowner community to discuss all aspects of marine insurance, which has to adapt to a constantly changing geopolitical environment.
Posidonia remains steadily committed to attracting the younger generation to the shipping industry, evident in the launch of the Posidonia Masterclass in Shipping online course. Collaboration with the YES Forum (Young Executives in Shipping) platform and Isalos.net aims to introduce the next generation to the industry, showcase career opportunities, and nurture their interest in this dynamic sector.
Posidonia's growth in scope and duration is further propelled by the Posidonia Games, featuring events like the Posidonia Cup Sailing Race, Posidonia Running Event, Posidonia Shipsoccer Tournament, Posidonia Golf Tournament, and Posidonia 3x3 Basketball Tournament. With over 4,000 shipping professionals expected to participate, the games contribute to the unique Posidonia atmosphere, providing abundant networking opportunities.
Posidonia 2024 is organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.

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By Anastasios Andreas Maraslis – Founder/President of Marasco Marine Ltd*

Charting the Future: Marasco Marine Ltd's Proactive Approach in Marine Insurance

In the ever-changing seas of the marine insurance industry, foresight and preparedness are the beacons that guide a ship through uncharted waters. Marine insurance, particularly Protection and Indemnity (P&I) clubs, is at a crossroads, facing challenges and opportunities alike. As risk managers and client-centric service providers, working to ensure competitive fairness, Marasco Marine Ltd offers a comprehensive analysis of the current landscape, helping shipowners and managers navigate these turbulent waters. At Marasco Marine Ltd, we understand that while no one can predict the future, being well-prepared and alert to emerging risks is essential. Our role is not just to react to industry changes but to anticipate them, ensuring that our clients are always a step ahead.

The Evolving Role of P&I Clubs: Stability vs. Competition

P&I clubs have traditionally provided a collective risk-sharing model, offering stability and predictability in premiums and coverage. However, this model is now being questioned for its lack of competition. Critics argue that the mutual agreements among P&I clubs, standardizing terms for members switching clubs, limit market dynamics and innovation.

Pros:

• •Collective risk management leads to shared large claims.
• •Predictability in premium rates and coverage terms.
• •Efficient regulatory compliance and claims handling.

Cons:

• •Limited competition could lead to complacency and higher costs.
• •Restricts shipowners’ ability to negotiate better terms.

P&I MERGERS: Fewer Choices, Higher Costs?

The Impact of Market Consolidation: The Case of NorthStandard

The recent merger of NorthStandard has sparked concerns about reduced competition and the rise of larger, potentially monopolistic P&I entities.

Pros:

• •Potential for reduced claims volatility and cost efficiencies.
• •Enhanced resource pooling and expertise sharing.

Cons:

• •Less market competition, potentially leading to inflexible terms.
• •Higher premiums and reduced bargaining power for shipowners.

There's also a valid concern about reduced competition and a potential decline in service quality. Large P&I clubs, post-merger, might focus on serving bigger fleets, potentially overlooking the specific needs of smaller shipowners. This shift could leave a significant portion of the market underserved and facing higher premiums with less personalized service, that is smaller fleet shipowners might face their needs sidelined.

The Ripple Effect on the Supply Chain

A market with limited players could lead to a situation where shipowners and managers have fewer choices, potentially leading to less favorable terms. The inherent risk in such a scenario is the possibility of these clubs wielding significant market power, setting premiums and terms that might be financially burdensome for shipowners. This situation could inadvertently affect the entire supply chain, as higher insurance costs might be passed down through increased sea transportation cost - freight, ultimately impacting end consumers.

The Cautionary Tale:

Historical parallels in other industries show that consolidation can lead to higher prices and reduced choices for consumers. The shipping industry must take seriously into consideration these lessons to avoid similar pitfalls.

Proactive Strategies for Shipowners and Managers

In response to these changes, shipowners and managers should consider alternative risk management strategies and advocate for competitive fairness in the market.

Strategies Include:

• • Exploring alternative insurance options outside traditional P&I clubs or, combination between commercial underwriters and P&I Clubs.
• • Lobbying for regulatory oversight to ensure market competitiveness.

Marasco Marine Ltd's Client-Centric Approach

As a service-oriented company, Marasco Marine Ltd emphasizes the importance of staying informed and adaptable. The industry must strike a balance between benefiting from the efficiencies of larger P&I clubs and maintaining a competitive environment where shipowners have the freedom to choose the best options for their needs. The company advocates for a market that balances collective benefits with competitive dynamics, ensuring that our clients, regardless of their size, remain well-informed and prepared for any shifts in the industry landscape.

Diversifying Options for Comprehensive Coverage

Marasco Marine Ltd diversify its offerings to include a range of marine insurance products that cater to the unique needs of each client, ensuring that smaller shipowners are not left at a disadvantage. This approach allows Marasco Marine to provide tailored solutions stemming from commercial insurers, fixed cost P&I facilities and of course the traditional Pool P&I market, that aligns with the specific risks and requirements of our diverse clientele.

Marasco Marine Ltd Recommends:

• • Regularly reassessing insurance needs in light of market changes.
• • Staying informed about industry developments and potential regulatory changes.

In conclusion, the maritime insurance industry is at a pivotal point. While historical models have provided stability, the need for competition and innovation is increasingly evident. For shipowners and managers, the path forward involves staying informed, adaptable, and proactive in advocating for a balanced and fair market. With Marasco Marine Ltd's guidance, stakeholders can navigate these changes effectively, safeguarding at the same time the interests of all shipowners, especially the smaller ones who might be overshadowed in a market dominated by large conglomerates, ensuring thus their sustainability and profitability.

*Marasco Marine Ltd Is an independent Marine Risks Management Company which has over 30 years of marine insurance expertise in P&I and H&M insurance with an unwavering commitment to client’s success, by introducing specialized strategies in Risk Prevention and Risk Management in its daily modus operandi, with additional services such as: safety audits, and the introduction of safety protocols, which is very crucial for its clientele’s P&I and H&M insurance covers and premium cost control. More about Marasco Marine Ltd, its full list of services, unique structure and its Board of Advisors, can be found at www.marasco-marine.com

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ERMA FIRST, a leading sustainable maritime solutions provider, has become a signatory of the EU Mission Charter targeting the protection and restoration of regional waters by 2030.
The Mission – one of five EU Missions within the Horizon Europe research and innovation programme – aims to “protect and restore the health of our ocean and waters through research and innovation, citizen engagement and blue investments”. As a signatory to the Mission Charter, ERMA FIRST will attend the Mission’s meetings and events while pledging actions that contribute to its objectives.
Commitment to the Charter consolidates sustainability initiatives already overseen by ERMA FIRST at the local level.
In 2023, the group collaborated with HELMEPA (Hellenic Marine Environment Protection Association) on events in May and November, organising volunteers to remove waste and debris from beaches in Piraeus. Both projects aligned with EU ‘Mission Ocean and Waters Actions’ definitions, with the second event also notable for the assistance given by the ‘jellyfishbot’ IADYS in cleanup operations. In an earlier initiative, ERMA FIRST brought the community together to clean up Votsalakia beach in 2021.
In organising and leading these events, ERMA FIRST directly contributed to objectives 1 and 2 of the Mission Charter: to “protect and restore marine and freshwater ecosystems and biodiversity” and to “prevent and eliminate pollution of our ocean, seas and waters”. Furthermore, by involving the local community, the company used one of two Mission ‘enablers’ – “public mobilisation and engagement”.
Mr Kimon Mademlis, Marketing & Communications Director, ERMA FIRST Group, said: “As a company, we are well-known for providing sustainable maritime solutions, but our commitment to the planet and its waters extends beyond our product portfolio. Being welcomed as a signatory of the EU Mission Charter to ‘Restore our Ocean and Waters by 2030’ is a major endorsement of our efforts to protect the environment by engaging local communities. We look forward to connecting with fellow signatories at forthcoming Mission meetings as we collaborate towards cleaner, healthier waters.”
Annual Mission events see signatories from around the European Union gathering to discuss matters and propose actions related to the Mission’s objectives. ERMA FIRST is due to attend the Mission Ocean and Waters Forum in Brussels, Belgium, on 5 March, as well as related matchmaking events on the 4^th and 6^th.

Image: Mr Kimon Mademlis, Marketing & Communications Director, ERMA FIRST Group

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The Cyprus Shipping Chamber welcomes the re-appointment of its Deputy Director General, Mr. Alexandros Josephides, as “International Maritime Organisation (IMO) Goodwill Maritime Ambassador” for Cyprus, for the period 2024-2025.
The Shipping Chamber also extends its sincere appreciation to the Shipping Deputy Ministry who promoted and supported the re-appointment of Mr. Josephides at the IMO, reflecting the recognition of the continuous and valuable contribution of himself and the Chamber over the years in promoting the benefits of careers in shipping to youngsters in Cyprus.
Mr. Josephides has been successfully representing Cyprus as the IMO Goodwill Maritime Ambassador for the last eight years, through the Chamber's multi-faceted educational activities, promoting maritime professions to the youth of Cyprus with the aim of attracting new audiences and inspiring a new generation industry professionals.
Among the important educational activities of the Chamber, are the "Adopt a Ship" Program, which has been running successfully for the last 17 years, in cooperation with the Cyprus Marine Environment Protection Association (CYMEPA), presentations to gymnasiums and lyceums, the organisation of Shipping Career Fairs and participation in other career events across Cyprus.

ELNAVI Newsletter
Περισσότερες πληροφορίες : ELNAVI,
Αριστείδου 19, Πειραιάς 18531, 
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.