The visit of the Secretary of the Interior of the United States, Doug Burgum, to the ONEX Shipyards & Technologies in Elefsina, marks the first presence of a minister of the new Trump administration in our country.
This fact highlights the strategic importance of the ONEX Group for the rebirth of the Greek shipbuilding industry and underlines the close cooperation between Greece and the USA in the field of shipyards. The visit confirms that the Group enjoys the trust and support of both governments, which recognize its vision and dynamics.
The President and CEO of ONEX Shipyards & Technologies Group and President of the Hellenic Shipyards Association, Mr. Panos Xenokostas, welcomed the American Minister, who was accompanied by the Minister of Environment and Energy, Mr. Stavros Papastavrou. Elefsis Shipyards also hosted bilateral meetings of Mr. Burgum with the Minister of Development, Mr. Takis Theodorikakos, and the Minister of Shipping and Island Policy, Mr. Vassilis Kikilias.

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DryLog supports the Singapore Maritime Foundation in its efforts to nurture local marine talent. As part of this commitment, the company will be sponsoring a final-year student at the Singapore Institute of Technology (SIT), who will be awarded a BEng (Hons) in Naval Architecture & Marine Engineering in May 2026. Upon his graduation, the sponsored will join the company’s Technical Department in Singapore, where he will contribute his skills and knowledge to our growing team.

On Friday, 12th September, Mr. Dimitris Seretis, Managing Director of DryLog Services Singapore, had the honor of attending the MaritimeONE Scholarship Ceremony 2025, where he officially presented the selected awardee with his sponsorship.

The company thanked Singapore Maritime Foundation for their tireless efforts in fostering the next generation of maritime professionals.

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EuroDry Ltd. has signed an agreement to sell M/V Eirini P., a 76,466 dwt drybulk vessel, built in 2004, to an unaffiliated third party, for approximately $8.5 million. The vessel is expected to be delivered to its buyers in October 2025.

Aristides Pittas, Chairman and CEO of EuroDry, commented: “We are pleased to announce the agreement to sell M/V Eirini P., one of the three older vessels and the longest-held in our current fleet, for $8.5 million as part of our fleet renewal program. As a result of this sale, we expect to generate a gain of approximately $0.6 million, or about $0.21 per share. The net proceeds will strengthen our balance sheet position and increase our near-term liquidity, providing us with more flexibility to pursue the renewal of our fleet with more modern, fuel efficient and environmentally friendly vessels.”

EuroDry Ltd. was formed on January 8, 2018 to consolidate the drybulk fleet of Euroseas Ltd. into a separate listed public company. EuroDry was spunoff from Euroseas Ltd on May 30, 2018; it trades on the NASDAQ Capital Market under the ticker EDRY.

EuroDry operates in the dry cargo, drybulk shipping market. EuroDry's operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company and Eurobulk (Far East) Ltd. Inc., which are responsible for the day-to-day commercial and technical management and operations of the vessels. EuroDry employs its vessels on spot and period charters and under pool agreements. After the sale of M/V Eirini P., the Company will have a fleet of 11 vessels, including 2 Kamsarmax drybulk, 3 Panamax drybulk carriers, 5 Ultramax drybulk carriers, and 1 Supramax drybulk carrier. EuroDry’s 11 drybulk carriers have a total cargo capacity of 766,420 dwt. On a fully delivered basis, the Company’s fleet will increase to 13 drybulk ships with a cargo capacity of about 893,420 dwt.

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Alpha Bulkers signs up for global weather intelligence provider's Total Fleet Management Solution (TFMS) including comprehensive monitoring, optimization and weather services. Alpha Bulkers Shipmanagement specialises in the management and operation of large bulk carriers, ranging from ultramax to newcastlemax units. The fleet provides ocean transport services in close cooperation with major grain, coal, iron ore and minor bulk producers, power utilities, traders and shipping operators.

Initially, 22 vessels will be equipped with Weathernews' market-leading TFMS to enhance operational efficiency and sustainability, expanding to Alpha Bulkers' full stable of 35 ships within a few months. The agreement, which leverages Weathernews' SeaNavigator platform, including OSR-e (Optimum Ship Routing) and the Performance Monitoring Service, marks a significant milestone by enrolling the majority of Alpha Bulkers' fleet into optimizing and monitoring their voyages. The implementation of this project is overseen by Captain Thomas Levantis, Deputy Operations Manager at Alpha Bulkers, in coordination with the rest of Operations team.

Demanding selection process

After evaluating multiple offers, Alpha Bulkers chose Weathernews for its service excellence and deep engagement, rather than solely focusing on price. "Through in-depth discussions and workshops, we were able to develop a deep understanding of Weathernews' offering. This being the start of an extensive agreement with Weathernews, our key considerations were building trust and testing the performance of the solutions. Our top leadership responded very positively and valued the expertise and responsiveness of the Weathernews team. We look forward to rolling out their technology on our vessels," said Pavlos Vitos, General Manager and project lead at Alpha.

John Sideris, Senior Sales Manager at Weathernews, added: "We are delighted that Alpha Bulkers has chosen our solution. Our 24/7 availability and good rapport played a significant role in securing the business. Both parties have collaborated to develop a good understanding of each other's processes and strategies. This has been key in building trust and aligning our objectives to enhance the operational efficiency of the Alpha Bulkers fleet."

Solving key challenges

Alpha Bulkers' selection criteria included weather accuracy, detailed reporting, fast decision-making and high optimization capability. Their optimization requirements range from voyage optimisation to reduce fuel consumption/costs, engine speed (RPM) efficiency, TCE (time-charter equivalent) rates and overall fleet performance analysis. As per evolving market dynamics, single voyage optimisation has become even more strategically important.

Alpha Bulkers’ transition to data-driven decision-making reflects an industry-wide trend, aligning with its strategic goals and Weathernews' expertise in digital solutions. "This is a high-priority project that could influence potential carriers," concluded Sideris.

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RINA, the inspection, certification, ship classification and consulting engineering multinational, has awarded Korea Maritime Consultants Co., Ltd. (KOMAC) the Approval in Principle (AiP) for a newly developed 40,000 CBM LNG-fuelled, hydrogen-ready, liquid CO₂ (LCO₂) carrier.

Carbon Capture, Utilization and Storage (CCUS) technologies offer significant potential for decarbonisation and are a key enabler of a more cost-effective and achievable net-zero future. Among the available CO₂ transportation options, shipping emerges as a viable solution to link emission sources with storage sites. Compared to pipelines, it provides shorter lead times, greater flexibility and scalability, streamlined permitting processes, and, in many cases, improved economic efficiency.

LCO₂ shipping is still an emerging market, with only a limited number of vessels in operation or under construction. This makes the development of new ships essential. KOMAC’s vessel design captures the growing momentum in the LCO₂ shipping segment, as major international projects begin to set the pace.

This AiP represents a significant advancement in maritime innovation. The future-ready design of the LCO₂ carrier, which features hydrogen as fuel - produced on board and on demand - offers a practical and efficient solution for meeting the IMO 2050 decarbonization targets.

Simone Manca, North Asia Marine Vice President at RINA said, “This AiP reinforces the close and productive relationship between RINA and KOMAC, highlighting our shared commitment to accelerating the transition toward low and zero-carbon operations. We are proud to support KOMAC in advancing a ship type that will play a pivotal role in the global carbon transport infrastructure. This achievement reflects not only technical excellence but also the collaborative spirit driving sustainable progress in maritime design. Looking ahead, RINA and KOMAC aim to deepen their collaboration, pushing the boundaries of marine engineering and contributing to a cleaner, more sustainable future for global shipping.”

KOMAC, the Korea's first and only private organization of naval architects and marine engineers, was founded in 1969. KOMAC has provided full range of professional services in the field of marine engineering including ship design (contract design, basic design, detailed design & production design), new building construction supervision, machinery and equipment procurement services, and technical and management consultancy services to shipbuilders and ship owners in more than 30 countries since its establishment. During last 54 years, KOMAC has designed more than 1,700 different classes and type of vessels and supervised construction of more than 1,400 vessels and provided numerous technical and management consultancy services to the worldwide clients.  KOMAC has participated in the planning of nearly every major shipyard projects and yard expansions in Korea including two huge ultra modern shipyards currently owned by Hanhwa Ocean (previously Daewoo) and Samsung Groups.  Through this intensive involvement in the local shipbuilding industry, KOMAC has made itself an indispensable partner in the rapidly expanding international maritime industry through relentless efforts and continued nurturing of its expertise both in quality and quantity.

RINA, leading certification and engineering company, provides a wide range of services across the Energy, Marine, Infrastructure & Mobility, Certification, Industry and Real Estate sectors. In December 2023, alongside the majority shareholder Registro Italiano Navale, Fondo Italiano d'Investimento SGR entered the shareholding structure guiding a pool of co-investors. With revenues in 2024 of 915 million euros, 6,200 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.

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The canal’s vision rests on two main pillars. First, water security, achieved through increased storage capacity for human consumption and canal operations which ensure resilience over the long term. Second, sustained growth, by diversifying business activities and expanding transport capacity without increasing water usage. With these measures, the canal seeks to capture maximum value from its route and to remain the preferred option for global customers.

With this vision, the Panama Canal will evolve beyond an interoceanic passage and become a logistics hub, strengthening Panama’s competitive edge in world commerce.

The strategy was presented at a media event chaired by the Minister for Canal Affairs, Jose Ramón Icaza; the Canal Administrator, Ricaurte Vásquez Morales; and the Deputy Administrator and Sustainability Officer, Ilya Espino de Marotta.

Strategic Projects

The Panama Canal will invest more than B/. 8 million in strategic projects that will not only create jobs for Panamanians but will also drive national economic growth. The increase in revenue derived from these initiatives will enable the canal to transfer larger annual contributions to the National Government, which will be invested in social development projects for the benefit of the population.

The Río Indio Reservoir will secure water for more than one million Panamanians and enhance the reliability of canal transits, therefor maximizing its value.

The Interoceanic Energy Corridor will include a 76-kilometer pipeline and two maritime terminals with provisions for the movement of up to 2.5 million barrels of energy products per day and linking the Atlantic and Pacific coasts without crossing the locks.

The pipeline, alone, is expected to create more than 45,000 jobs during construction and 11,000 during operations, contributing more than B/. 64 billion throughout its lifespan. In addition, it is projected to generate more than B/. 647 million for the State during execution of the project and over B/. 35 billion between 2031 and 2050, resources that will be directed to social projects.

The Corozal Port, located on the east bank, will be integrated into a land-based logistics platform connected by road and rail.

Social Commitment and Inclusive Development

Every project undertaken by the canal is conceived and executed with a deeply human-centered approach. In the case of the Río Indio Reservoir, a broad and ongoing process of dialogue with local residents is paving the way to ensure that development extends far beyond the project itself. These conversations aim to guarantee tangible investments in critical areas such as infrastructure, healthcare, education, and employment opportunities, which are designed to improve the quality of life.

At the same time, the canal is committed to weaving national suppliers and service providers into the fabric of these initiatives and ensuring that the economic benefits reverberate throughout the communities. Complementing this effort, specialized training and capacity-building programs will be promoted to strengthen local skills and empower communities to fully participate in and benefit from the opportunities generated by the canal’s expansion.

Transparency and International Participation

The Panama Canal guarantees open and transparent processes in the development of all projects. For the energy corridor, the The Panama Canal Authority Board of Directors has already approved the start of the process to select a concessionaire.

This begins with outreach to potential stakeholders, followed by the prequalification of companies, technical dialogue sessions, and then preparation of the final bidding terms. The tender is projected for the second quarter of 2026, with the participation of international firms that have proven experience in this type of infrastructure.
In parallel, the pre-feasibility study for the Corozal Port is advancing into the contracting phase, with results expected in the first quarter of 2026 and construction scheduled to begin in 2028.

A Sustainable Future

With this vision, the Panama Canal reaffirms its commitment to Panama and the world in which to remain a global trade engine and a driver of economic growth, while fostering a future that is more equitable, resilient, and sustainable for all Panamanians.

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Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection, and certification, together with its technical advisory arm Bureau Veritas Solutions Marine & Offshore (BVS), has launched OptiCARBON^TM, a SaaS platform which represents an all-in-one solution capable of optimizing and predicting energy, fuel, and compliance costs across an entire fleet.

OptiCARBON^TM utilizes BV’s highly accurate digital vessel models to simulate various operational, regulatory, and financial scenarios tailored to the user's requirements. OptiCARBON™’s advanced modeling capabilities enable users to explore multiple decarbonization pathways, assessing emissions reduction alongside cost and compliance impacts. The platform’s comprehensive forecasting and scenario planning tools allow users to measure and compare the impact of their operational strategy over time.

The platform is modular, scalable and customizable to different fleet sizes and vessel types. OptiCARBON^TM is designed to support dynamic, long-term decarbonization strategies that evolve alongside new technologies and regulations. While initially developed to meet the specific needs of ferries, cruise ships and RoRo vessels, its future-proofed framework allows for rapid expansion to other vessel segments.

OptiCARBON^TM has already been deployed with Brittany Ferries, where it delivers highly accurate mapping and compliance simulations, while facilitating the company’s EU-ETS requirements. The results demonstrate that combining data-driven forecasting with BVS’ specialized maritime consulting expertise can serve as the cornerstone of a company’s long-term strategic planning. 

Matthieu de Tugny, Executive Vice President, Industrials and Commodities, BV, said: “The maritime industry is under mounting pressure to decarbonize. With the EU ETS, FuelEU Maritime, and the likely introduction of the IMO’s Net-Zero Framework, it’s not just compliance costs that are rising but also operational complexity and uncertainty.”

Flavia Caldi Rezende, Vice President, BV Solutions Marine & Offshore, said “With OptiCARBON^TM, we’re making dynamic, forward-looking planning accessible to more stakeholders. Our goal is to empower stakeholders to reduce costs, avoid penalties, and develop tailored pathways to net zero – backed by unparalleled regulatory insight and maritime expertise.”

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Anticipating to a strong tanker market Navios Maritime Partners, proceeded to the acquisition of two scrubber-fitted newbuilding aframax/LR2 tankers for $133.0 million.

In June 2025, Navios Partners agreed to acquire two scrubber-fitted newbuilding aframax/LR2 tankers of 115,000 dwt, from unrelated third parties, for an aggregate purchase price of $133.0 million. The vessels are expected to be delivered into Navios Partners’ fleet during the first half of 2027.

Sale of vessels

During the second quarter of 2025, Navios Partners agreed to sell a 2009-built 4,250 TEU containership and a 2008-built 4,730 TEU containership, to unrelated third parties, for an aggregate gross sale price of $65.5 million. The sales are expected to be completed in the fourth quarter of 2025 and the first quarter of 2026, respectively.

In July 2025, Navios Partners agreed to sell a 2009-built transhipper vessel of 57,573 dwt to Navios South American Logistics Inc. for a gross sale price of $30.0 million. The sale was completed in July 2025. The transaction was negotiated and approved by the Conflicts Committee of Navios Partners.

One newbuilding vessel delivered

In June 2025, Navios Partners took delivery of a 2025-built aframax/LR2 tanker, which has been chartered-out at a rate of $27,446 net per day for a period of five years.

Navios Partners owns and operates a fleet comprised of 68 dry bulk vessels, 47 containerships and 58 tankers, including 18 newbuilding tankers (12 aframax/LR2 and six MR2 product tanker chartered-in vessels under bareboat contracts) that are expected to be delivered through the first half of 2028 and four 7,900 TEU newbuilding containerships that are expected to be delivered through the first half of 2027. The fleet excludes two containerships agreed to be sold.

Recently the company reported its financial results for the second quarter and six-month period ended June 30, 2025.

Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the second quarter of 2025, in which we reported revenue of $327.6 million, EBITDA of $178.2 million and net income of $69.9 million. Earnings per common unit were $2.34 for the quarter.”

Mrs Frangou continued, “Global economies have been surprisingly robust given the uncertain macro-environment. In addition, we are witnessing the creation and reshaping of trade patterns with longer distances due to the war between Ukraine and Russia, continued attacks in the Red Sea, and new and evolving world tariff regime. As a result, the shipping market generally is healthy.”

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Contships Logistics Corp. completed a USD 75 million tap issue of its outstanding senior unsecured sustainability-linked bond due 11 February 2030 (ISIN: NO0013470559) at 99.00% of par.

The net proceeds from the tap issue shall be applied towards general corporate purposes of the Group, which may include refinancing of existing financial indebtedness and acquisition of maritime assets.

Following the tap issue, the senior unsecured sustainability-linked bond will have USD 175 million outstanding.

Listing of the bonds in the tap issue remains subject to approval of a prospectus. The bonds in the tap issue will be issued under a separate ISIN (ISIN: NO0013648329) pending such approval, after which they will be merged with the existing bonds.

Arctic Securities and Fearnley Securities acted as joint bookrunners and Clarksons Securities acted as co-manager in connection with the placement of the tap issue.

Contships Logistics Corp. is the world’s largest independent owner of container feeder vessels focused on vessels between 900 TEU and 2,000 TEU. The Company has 38 container feeder vessels in operation. 

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The new design, announced at Gastech 2025, combines aerodynamic efficiency with expanded capability for low- and zero-carbon technologies. 

Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to HD Hyundai Heavy Industries (HHI) for its next-generation LNG carrier design featuring a forward accommodation layout and integrated Wind Challenger, wind-assisted propulsion system (WAPS) developed by Mitsui O.S.K. Lines, Ltd. (MOL). 

Developed in collaboration with MOL and the Republic of the Marshall Islands Maritime Administrator, the new design relocates the accommodation and bridge block from its conventional aft position to the bow. This fore-deckhouse configuration offers the opportunity for reduced aerodynamic drag, improved propulsion efficiency and potential lower fuel consumption.  

The forward accommodation layout provides a clear and unobstructed open deck space above cargo area, allowing for optimal placement and increasing number of WAPS technologies such as MOL’s Wind Challenger. This open deck space provides flexibility to accommodate varying sail numbers, types and spacing. 

The design also supports future integration of alternative fuel modules, and battery storage, making it adaptable to evolving fuels, regulations and owner requirements. 

The AiP follows LR’s extensive technical evaluation of the concept’s safety, feasibility and regulatory compliance. This included a full review of applicable IMO requirements, class rules and industry guidelines, supported by structured risk assessments including HAZID. 

Panos Mitrou, LR's Global Gas Segment Director, said: “This AiP reflects LR’s commitment to enabling the safe deployment of innovative technologies that support the maritime industry’s transition to net zero. By working closely with our project partners, we help demonstrate the technical feasibility and commercial value of forward-thinking vessel design.”  

Hong-Ryeul Ryu, CTO of HD Hyundai Heavy Industries, stated: “This AiP highlights HHI’s pioneering forward accommodation LNG carrier design, underscoring our unwavering commitment to sustainability and readiness to embrace advanced decarbonization technologies, including WAPS.” 

Yoshihiko Sugimoto, Deputy Chief Technical Officer of MOL, said: “With the valued collaboration of Lloyd’s Register and the Republic of the Marshall Islands, we are delighted to receive this AiP for HHI’s next-generation LNG carrier design featuring MOL’s Wind Challenger technology. This milestone highlights our unwavering commitment to leading the decarbonisation of the maritime industry and accelerating progress toward our medium- to long-term target of achieving net zero GHG emissions by 2050.” 

David Wamsley, Deputy Commissioner of Maritime Affairs, Republic of the Marshall Islands Maritime Administrator, said: “This AiP for a next-generation vessel is a great example of what can be achieved when industry leaders align. By proactively integrating the latest innovations with the clear regulatory direction for decarbonization, stakeholders are not just designing a ship they are creating a sustainable and profitable future for maritime transport. This partnership allows us to pool our expertise, mitigate risks, and accelerate the development of solutions that would be impossible to achieve alone.” 

Image: (left to right) Hongryeul Ryu, Executive Vice President & CTO, HD Hyundai Heavy Industries; Hisashi Umemura, Senior Managing Executive Officer, MOL; Jason Clifton-Samuel, Deputy Commissioner of Maritime Affairs, Republic of the Marshall Islands; Andy Mckeran, Chief Growth Officer, Lloyd’s Register.  

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