On Thursday 9^th November 2023 a concert was performed in view of the “China – Greece Year of Culture and Tourism”.
The event was attended by senior officials, including Hong Kong’s Under Secretary for Culture, Sports and Toursim Mr. Raistlin Lau.
The guests had the chance to meet with the artists and especially the famous violinist Yao Jue.
The Hong Kong String Orchestra was founded by virtuoso Yao Jue SBS, BBS, JP Hong Kong String Orchestra (HKSO) strives to groom home-grown musical talent. Over the past ten years, the Orchestra has touched the lives of music lovers through the concert series and overseas exchange tours. And has achieved significant recognition locally and internationally for its “music uniqueness fusing Eastern and Western influences”.
Yao Jue – Violinist
Yao Jue’s professional career has been punctuated by widely acclaimed performances throughout Asia, Europe and the United States. Music critics have universally employed phrases such as “technically impressive”, “intensively moving” and “impeccable technique” to describe the performance. She is the only violinist to be included in the 1995 “China’s Famous Females” book accomplished by the International Women’s Congress in Beijing.

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With the presence of members of the Greek Government and state officials, the financing agreement for the historic Elefsina Shipyards was signed between the American development organization, DFC and the ONEX group.
At the same event, the floating dock "Stratis G. Andreadis" was inaugurated. It is a new generation dock, Panamax class, which incorporates "green" and "smart" technologies. The "Stratis Andreadis" and the dock installed by the ONEX Group at Neorio Shipyards, in Syros, are the largest in Greece.
The U.S. International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan signed a financing agreement for a $125 million loan to ONEX Elefsis Shipyards and Industries (ONEX) to rehabilitate and modernize the Elefsina shipyard near Athens, Greece.
DFC financing will help create a strategically critical maritime and energy supply hub for the region by expanding the shipyard’s capacity to service liquified natural gas (LNG) ships, promoting European energy security and diversification, creating new local jobs, and bolstering the U.S.-Greece partnership through a transparent, high-quality investment.
“DFC’s investment in the Elefsina shipyard will develop a maritime and energy supply hub that will create good local jobs here in Greece and help the country and region become less reliant on Russian energy,” said DFC CEO Scott Nathan. “DFC is proud to advance this high-quality infrastructure project that will generate more reliable access to energy and foster greater economic growth and prosperity for our partners across the region.”
CEO Nathan joined Greek Minister of Development and Investment Kostas Skrekas and U.S. Ambassador to Greece George Tsunis at the shipyard for the signing ceremony. With DFC support, ONEX will expand the shipyard’s capacity to repair and upgrade ships, particularly ships that service the nearby Revithoussa LNG terminal. This will promote increased access to reliable, secure energy in the Western Balkans and Eastern Europe by expanding high-quality infrastructure to support diversification of LNG supply for the region – a critical undertaking amid Russia’s attempts to destabilize regional energy access.
The shipyard is strategically located near several key gas trade routes. ONEX will use DFC financing to transform the shipyard into an energy supply hub supporting LNG shipping lanes in the Mediterranean and Aegean seas and supporting Greece’s renewable energy goals.
DFC’s investment is projected to expand the shipyard’s capacity to service up to 200 ships per year. In addition, the new facilities will include a 30MW solar farm to provide energy to the shipyard and to the local grid. The upgrades will include repurposing part of the shipbuilding infrastructure for the fabrication and assembly of wind turbines.
This investment advances President Biden's and the G7's commitment to strengthening global infrastructure through values-driven, high-standard, and transparent investments.

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On Monday, October 30th, in the Caryatids hall of the Grand Hyatt Hotel in Athens, 250 guests attended a dinner honoring the supporters of the Propeller Club, Port of Piraeus, in a warm and pleasant atmosphere.Each year, the dinner provides a chance to honor the companies and organisations that support the Club with their valuable contribution.Chrysanthi Stefanou, the President of the Club's Events and Forums Committee and Governor of Propeller Club, Port of Piraeus, presented the event. Taking the floor, President Costis Frangoulis declared, among other things: "Tonight is dedicated to all of you. Our primary goal is the development of our social work, which we could not achieve without your valuable input and contribution.”Theofilos Xenakoudis, Governor and Chairman of the Fundraising Committee, then greeted and thanked all attending companies for their support. Finally the President along with Board members presented each company with an honorary plaque.The evening ended with a musical performance by the well-known performer, Ioanna Sevopoulou.

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In view of its extended newbuilding program Capital Gas Ship Management Corp. took delivery of the newbuilding LNG Carrier ‘Amore Mio I’, built by Hyundai Heavy Industries, S. Korea. With a cargo capacity of 174,000 m3, the vessel is highly efficient, propelled with MAN MEGA engines and equipped with the latest available technologies, including an air lubrication system, shaft generators and increased filling limits (above 99%). The vessel represents the vanguard of the new generation of LNG carriers, setting an industry benchmark with its exceptionally low environmental impact. It achieves this by employing cutting-edge technologies designed to minimize methane slip and substantially reduce CO2 emissions, making it one of the most eco-efficient additions to the global fleet. It is the eighth of eighteen vessels to be delivered to Capital Gas until 2027.
Capital Gas Ship Management Corp. is currently operating a fleet of 21 modern LNG Carriers, 2 pioneering LCO2 carriers and 2 dual fuel VLACs (Very Large Ammonia Carriers) with a total carrying capacity of approximately 3.18 million cbm. The fleet under management includes vessels of Nasdaq-listed Capital Product Partners L.P.

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Moore Maritime Index, “MMI”, a database that contains operating costs and revenues from more than 1,500 vessels, has been updated and is available with the 2022 data reflecting the firm prospects of the shipping market.
The data comes from audited financial statements of ship owning companies and therefore, the results produced by the Index show the “real world” of financial performance of the shipping industry across more than 20 vessel types. The main takeaways are:
In dry bulk carriers, the total operating expenses increased in a range from 5% to 9% across the various vessel categories, with the largest increase of 9% being reported by the Handysize vessels. In particular, increase was reported in insurance expenses, lubricants, stores, spare parts, repairs and maintenance. Crew and administrative costs remained close to the same levels as in 2021. In terms of revenues, the rates appeared to improve in 2022, with the exception of large Capesizes which declined but remained at satisfactory levels overall.
Tankers also reported an increase in their total operating expenses, in a range from 3% to 7%. All tankers’ categories presented high costs for lubricants and spare parts costs, while repair and maintenance expenses were higher for vessels between 20,000 dwt and 120,000 dwt. Crew costs remained unchanged compared to the previous year, while insurance expenses increased across most tanker categories. In terms of revenue, the rates appeared much improved, with the largest increase being recorded in the Suezmax category.
To access the Moore Maritime Index, please visit moore-index.com.

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In a remarkable confluence of events, Ammitec, the Association of IT Managers in Shipping, celebrated its 20th anniversary alongside a highly successful General Assembly and elections. The prestigious gathering took place on October 25, 2023, at the Divani Apollon hotel in Kavouri, Athens, in conjunction with the conclusion of the Digital Ship Conference.
Ammitec, a non-profit scientific organization that unites IT professionals of global shipping companies, marked two decades of unrelenting dedication to the maritime industry. Over the years, the association has evolved into a powerhouse of knowledge, a hub of expertise and a driving force in the digital transformation of shipping.
The Assembly was conducted in a hybrid format, welcoming members both locally and remotely. A remarkable 47 members participated, casting their votes in a demonstration of engagement, commitment and unity. Ammitec expressed its gratitude to members for their dedication to the association’s mission.
Several members were elected to the Board of Directors, and special congratulations were extended to the newly elected candidates who, though they did not secure seats this time, have embarked on a promising journey towards recognition within the association.
The elected members of the Board of Directors are: Mr. Sardis Themistoklis – President, Mr. Maheras Matthew – Vice President, Mr. Sakellakos Konstantinos – Treasurer, Mrs. Vazintari Anna – Secretary, Mr. Makris Dimitris – Member, Mrs. Raptaki Katerina – Member, Mr. Sabanis Stelios – Member, Mr. Pavlidis Dimitris – Alternate member, Mr. Rizos Ioannis – Alternate member.
As Ammitec reflects on its remarkable journey, the association looks forward to the next 20 years with great anticipation. The future holds even greater strides, profound transformations and bolder innovations. Ammitec remains steadfast in its commitment to excellence and progress and the journey has just begun!
The association is dedicated to providing its members with a rich array of activities, seminars, conferences and other offerings. Ammitec encourages its members to stay tuned for further opportunities that enhance their professional growth and contribute to the digital evolution of the maritime industry.
Happy 20th Anniversary, Ammitec! Here's to the path traveled, the achievements unlocked and the boundless potential of what lies ahead.

About Ammitec: The Association of IT Managers in Shipping (Ammitec) is a non-profit scientific organization that unites IT and Technology Professionals of global shipping companies. Ammitec focuses on digital transformation, cybersecurity and providing modern technologies and best practices to empower its professional members. The association encourages the effective use of modern technology for a versatile and resilient digital shipping sector.

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Carlo Luzzatto has been appointed as the future CEO and General Director of RINA S.p.A., a multinational inspection, certification and engineering consultancy company.
The appointment is set to be formalized by the end of 2023, coinciding with Fondo Italiano d’Investimento’s acquisition of minority stake up to 33% in RINA S.p.A. This transition perfectly aligns with the joint growth objectives established with Fondo Italiano d’Investimento, reinforcing the Group's intention to make its stock market debut within the next 3-5 years.
Ugo Salerno will continue to play an integral role in the running of the company, retaining his position as Executive President.
The leadership transition is a natural progression in the Group’s global growth journey and comes at a time of significant momentum for the company with a clear focus on pursuing the strategic plan, streamlining processes, and evolving towards business models and services that are increasingly centered on innovation and ESG principles.
Educated at some of the world's top business schools, Luzzatto was appointed after a comprehensive selection process that included many elite Italian managers and was managed by Egon Zehnder, the world’s largest private executive search company. Luzzatto brings over thirty years of experience from the energy, aerospace, and infrastructure sectors. Throughout his distinguished career, he has held senior leadership positions - both in Italy and internationally - at public and private companies, including General Electric, Ansaldo Energia, Chromalloy, and Impresa Pizzarotti.
Paolo d’Amico, Chairman of Registr's already brilliant growth trajectory”.
Davide Bertone, CEO of Fondo Italiano d’Investimento, remarked: "Carlo Luzzatto has the essential expertise and experience for the next growth phase of RINA. Together with Ugo Salerno and Registro Italiano Navale, we are delighted to secure his commitment and look forward to welcoming him on board immediately”.
RINA, leading certification company and engineering company in Italy, provides a wide range of services across the Energy, Marine, Certification, Infrastructure & Mobility, Real Estate and Industry sectors. With revenues in 2022 of 725 million euros, 5,300 employees and 200 offices in 70 countries worldwide, RINA is a member of key international organizations and an important contributor to the development of new legislative standards. www.rina.org      
At the closing, RINA S.p.A. stakeholders will be: Registro Italiano Navale (64,5%), Fondo Italiano d’Investimento (up to 33%) and company’s management (2,5%).

images: Ugo Salerno is Chairman/CEO at Rina Spa & Carlo Luzzatto, future CEO and General Director of RINA S.p.A.

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ZeroNorth and Alpha Ori Technologies (AOT) announced that they intend to join forces in an agreement that will create a leading maritime optimisation company and a new powerhouse in shipping’s digital transformation.
Subject to regulatory approval, the two companies plan to generate synergies by combining Alpha Ori Technologies' expertise in IoT sensors and high frequency data and ZeroNorth's multi-service technology platform to create new sustainability solutions for shipping. The agreement will allow the two companies to serve their customer bases from a single offering and create a strong data ecosystem on one platform with multiple services within the market.
The company intends to operate under the ZeroNorth brand and Søren Meyer, ZeroNorth’s current CEO, will remain at the helm of the joint set-up. Both of AOT’s current Co-CEOs, Bala Sankaran and Rajesh Unni, will become non-executive board members of the joint business.
The two proposed partners already supply cutting-edge technology to more than 4000 ships trading globally.  The agreement will enable customers to access 12 different services using one platform and one data source.  This will help to significantly advance industry developments and policy efforts across the global trade value chain.
ZeroNorth will interconnect data, providing collection, insights, and analysis, which will enhance quality and compliance for customers. By unlocking operational efficiencies and increasing reliability, customers will also benefit from cost savings, increased profits, and emissions reduction.
The joint business will remain an independent company with robust financial backing and heritage from top industry leaders, leveraging their deep shipping knowledge to deliver transformative solutions that positively impact the sector.
The company will retain its global office presence, headquartered from Copenhagen, and a combined workforce of 780 people, approximately one third of which are full-time consultants, will work together to create significant further impact on the planet.
Speaking on the announcement, Søren Meyer, CEO, ZeroNorth said: “I am delighted to be able to announce this agreement with Alpha Ori Technologies, which we truly believe represents the exciting next step in shipping’s digital and sustainability transformation. This is a strategic move that will not just benefit our customers, but the sector as a whole. It will enable us to serve the industry as its leading maritime optimisation provider of choice and underlines our commitment to bettering both profit and planet.”
“ZeroNorth and Alpha Ori Technologies chose each other because of our shared values and common mission to drive impactful change for shipping and the wider global trade value chain. The combined ecosystem that this partnership will create will enable us to touch from shore to ship and back to shore.”
“It will accelerate our technology development, strengthen our innovative mindset, and enable us to continue to help our customers focus on profit and planet in an increasingly complex and volatile world.”
Bala Sankaran, Co-CEO Alpha Ori Technologies, added: “Joining forces with ZeroNorth secures a market leading position for our companies, and enables us to propel the industry towards greater profitability and sustainability outcomes. We believe that this is the perfect time for us to scale and do bigger things together, and this agreement is perfectly in line with our ambition to drive sustainability, performance, and business results for our customers.”
“ZeroNorth is an ideal fit for AOT's ambitions regarding digital transformation of the Maritime industry due to our considerable expertise and specialism in high frequency data. The agreement with ZeroNorth brings significant advantages, enabling us to leverage our combined scale for increased investment and improved customer value.”
ZeroNorth has already helped its customers to collectively cut their emissions by more than one million metric tonnes since 2021. The agreement will help to further improve the positive momentum both companies are enabling within the global trade value chain.

About ZeroNorth
Recognising the challenges posed by climate change, technology company ZeroNorth was founded to accelerate the transition to greener global trade. By blending cutting-edge data-driven technology with human expertise, the ZeroNorth platform provides a range of software solutions that are helping the global shipping industry cut emissions and reduce its impact on the climate, whilst maintaining commercial performance.
ZeroNorth offers one platform with multiple services and is an industry leading software developer, which interconnects data into insights and actions, optimising global trade for cargo owners, vessel owners, commercial operators, charterers, and bunker suppliers. The company’s software offers a full range of services which support the value chain to increase earnings and reduce CO2 emissions.
For more information, please visit:  www.zeronorth.com

About Alpha Ori Technologies
Alpha Ori Technologies (AOT) is a B2B Technology company headquartered in Singapore with overseas product development offices in India and the United States. Alpha Ori’s vision is to digitally enable all floating enterprises with cutting-edge technologies – IoT, Machine Learning and Cloud-based Big Data science – to drive remote operations, enhance operational efficiency and achieve the highest levels of safety on board ships.
www.alphaori.sg  

images: Søren Meyer, CEO, ZeroNorth & Bala Sankaran, Co-CEO Alpha Ori Technologies

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Theano Kalapotharakou Elnavi’s Co publisher exclusively reports from Montevideo 

Elpi Petraki, President of WISTA International, opened the 2023 AGM in Montevideo, Uruguay, on Tuesday, 25 October, by welcoming representatives from a record 56 national WISTA associations (NWAs). The majority were present in person, while some participated online.
After a roll call of NWAs, delegates viewed video presentations from Cyprus, Sri Lanka, and the United Arab Emirates, all bidding to host the WISTA International AGM & Conference 2024. These videos emphasized their maritime sectors and the appeal of their destinations. Monaco, Spain, and Turkey later presented pitches to host the AGM & Convention 2025. Following a vote, Cyprus was selected as the 2024 host and Barcelona for 2025.
Recommendations were made for the Nominations Committee, resulting in the election of five members and two substitutes from Argentina and Cyprus. Three candidates contested for the ExCo: Connie Boozen from WISTA The Netherlands, Nazli Selek from WISTA Turkey, and Meredith Kirby from WISTA USA. After voting, Connie and Nazli were re-elected to the ExCo, with Meredith being elected for the first time.
In her annual report, Elpi Petraki mentioned that three new NWAs were established over the past 12 months in Estonia, Jamaica, and Paraguay. She also revealed a significant increase in WISTA membership, now totalling 4,356 members across 56 NWAs.
Mrs Petraki updated on several WISTA initiatives in partnership with the International Maritime Organization (IMO). This included the Maritime Speakers Bureau launched in Geneva last year, encouraging more women to participate in industry events. Other projects in collaboration with the IMO were also highlighted.
Furthermore, Elpi Petraki discussed the "Platform for Change - Women in Transport" project in association with the European Union. Two collaborative projects with the International Chamber of Shipping were also mentioned.
She provided an overview of other partnerships with global organizations, such as the Institute of Chartered Shipbrokers, the European Community Shipowners' Associations (ECSA), and UNCTAD. WISTA had achieved observer status with UNCTAD on 6 July 2023. Elpi recounted various events attended by ExCo members throughout the past year.
Treasurer Connie Boozen presented a positive financial report for 2022 and expressed WISTA's intention to engage an all-female accounting team. Delegates later heard reports from representatives from the working committees Diversity, Yachting, Environment, HR, and Trade. A new Port Committee is also being established.
IMO Secretary-General Elect Arsenio Dominguez delivered the afternoon's first keynote. He urged WISTA to maximize its observer status with the IMO, emphasizing the importance of active participation. Arsenio's address encompassed digitalization, automation, and capacity building. He encouraged WISTA's active involvement in various IMO activities.
Mariana Noceti from the IMO elaborated on its Women in Maritime programme and announced an upcoming IMO-WISTA survey scheduled for 2024.
Helio Vicente of the International Chamber of Shipping centred his keynote on seafarers' recruitment, training, and retention, mentioning collaboration with WISTA's President, Elpi Petraki.
Dorothea Ioannou was awarded as WISTA's Personality of the Year, nominated by three NWAs: Cyprus, Hellas, and the USA.
Dorothea Ioannou’s remarkable achievements and her unwavering commitment to advancing the maritime industry make her a truly deserving candidate for this prestigious recognition.
As the first woman to lead an international P&I (Protection and Indemnity) club, she has achieved a historic milestone that has inspired and empowered women worldwide. Her journey serves as a testament to what dedication, resilience, and vision can accomplish.
A keynote by Teresa Perez Del Castillo from the United Nations examined principles for encouraging companies to support women's advancement. Pilar Lacalle Pou of the Uruguayan environmental group URUMEPA discussed ocean conservation and battling plastic pollution.
The AGM concluded by commemorating anniversaries of WISTA NWAs in various countries, including Portugal, Uruguay, Peru, Russia, France, Hellas, Poland, and Norway.

A more detailed article will be featured in ELNAVI December 2023 edition.

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Wallem Group, a leading global maritime partner, has welcomed two dual fuel vessels, Angleviken and Askviken, into management in the last few months. The two LR2 tankers, delivered by Guangzhou Shipyard International, demonstrate Wallem’s commitment to building its expertise in managing and operating the vessels of the future and being a partner to our clients who drive decarbonisation in the maritime industry. Wallem is also preparing to take delivery of multiple new build DF PCTC vessels in the near future.
Ioannis Stefanou, Managing Director Ship Management, Wallem Group said: ‘Since its foundation 120 years ago, Wallem has been at the forefront of maritime global services with a keen eye to adopt industry change. In the 21^st century decarbonisation leads the sector’s agenda, and Wallem’s key focus is to develop and build our expertise both onboard and ashore in new technologies and alternative fuel systems.’
Mr. Stefanou continues, ‘Despite technological advances, we still believe the Future is Human. These dual fuel vessels have brought exciting opportunities for our crew to expand their expertise. They provide a platform to train experienced crews of various ship types on dual fuel engine system requirements. Wallem is ready to manage any type of vessel equipped with dual fuel engines for our clients.’  
About Wallem
Wallem Group is a leading provider of technology driven maritime solutions, offering services supporting the complete lifecycle of a vessel from newbuilding supervision to end-of-life recycling guidance. Wallem’s extensive portfolio includes asset management, crewing, training, ship management, safety and compliance management and agency services.
As one of the largest and most experienced solutions providers globally, Wallem offers world-class support to shipowners by bringing its customer-centric and transparent approach to all aspects of fleet operation. Wallem combines technology and forward-thinking to deliver on safety, technical, and commercial performance without compromise. Wallem believes in collaboration to foster innovation in meeting future needs.
Wallem operates globally with a shore-based team of 700 people and 7,000 highly qualified seafarers, serving nearly all vessel segments.

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