A new identity that honours the Island Oil legacy and moves the Group forward with confidence

Island Oil (Holdings) Limited introduced its new corporate identity, Island Energies, a name that reflects the Group’s evolution, broader energy focus and future direction. The new identity builds on relationships established over three decades.
The rebrand brings together Island Oil (Holdings) Limited, Island Oil Limited, Island Petroleum Limited and NavTech Supplies Limited under one clearer, unified identity.
While the name and visual identity are changing, Island Energies’ commitment to its clients, partners and people remains unchanged.
Five key principles guide how Island Energies operates and builds long-term relationships: excellence with integrity, reliability, human centered partnerships based on trust and mutuality, innovation for progress and transparency.
As Chrysostomos Papavassiliou, Founder, CEO & Chair of the Board, explains: “Island Energies marks a meaningful new chapter for the Group. Respecting the legacy and trusted relationships built over the years, the new identity signals the Group’s ambition to evolve responsibly and continue adding value for its clients, business associates and partners.”
The Group’s new tagline ‘Solid Partnerships. Infinite Horizons’ expresses its commitment to strong relationships and its outlook for the future.
The new corporate identity and the Group’s broader offering can be explored at www.islandenergies.com.

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METAVASEA survey shows shipping companies raising their climate ambition faster than the sector is building the capacity to deliver it, while seafarers continue to name crew fatigue as their leading safety concern and the public still overestimates the industry's carbon footprint. 

The Wave 2 findings of the METAVASEA survey, released by HELMEPA, show rising awareness and strategic alignment on maritime decarbonisation across the Eastern Mediterranean. At the same time, they highlight widening gaps in implementation capacity, workforce readiness, and public understanding of the sector's actual environmental footprint.

Data were collected between December 2024 and November 2025, the period immediately surrounding the initial adoption of the IMO Net-Zero Framework at MEPC 83 in April 2025.

Wave 2 gathered 1,182 responses across five stakeholder groups (seafarers, shipping companies, port administrations, service providers and suppliers, and civil society and port cities), bringing the combined Wave 1 and Wave 2 dataset to 2,080 responses.

These findings are released on World Maritime Day 2026, whose theme, "From Policy to Practice: Powering Maritime Excellence", was set by the International Maritime Organization for the 2026 to 2027 biennium. The Wave 2 findings map onto that theme. Seafarer familiarity with IMO climate frameworks is rising across every topic measured, while implementation barriers reported by shipping companies are increasing in parallel.

Key findings

Crew fatigue remains the leading seafarer safety concern. Sixty-nine percent of seafarers selected crew fatigue, driven by additional responsibilities and workload from new regulations, as their most important safety concern, essentially unchanged from Wave 1 (70%). The other top five concerns are lack of adequate training (25%), lack of communication (24%), handling of unfamiliar equipment (24%), and use of new alternative fuels (22%).

Seafarer familiarity with decarbonization frameworks rose across every topic measured. EU ETS familiarity climbed from 34% in Wave 1 to 47% in Wave 2, FuelEU from 33% to 45%, EU MRV from 30% to 41%, and the IMO GHG Strategy crossed the 50% familiarity threshold for the first time, rising from 45% to 56%. ESG indicators rose from 22% to 34%, and EU Fit for 55 from 20% to 29%.

Decarbonization training participation also rose, but the majority still report receiving none. Forty-five percent reported receiving decarbonization-related training in the past two years, up from 36% in Wave 1. Those reporting no such training declined from 64% to 55%. Among those trained, satisfaction (very or extremely satisfied) rose from 56% to 65%. Training content remains concentrated on alternative fuels (66%), EU ETS (36%), MRV (25%), and FuelEU (24%).

Companies and seafarers align on core skills but diverge on resilience and adaptability. Between waves, shipping companies increased their prioritisation of leadership (from 40% to 50%), teamwork (from 36% to 50%), resilience (from 18% to 30%), and adaptability (from 27% to 37%) as required seafarer competencies. Seafarers' own priorities held flat or moved in the opposite direction: resilience declined from 15% to 9%, adaptability held at 12%, and leadership held at 44%. The widest gaps between the two groups in Wave 2 are on adaptability and resilience.

Strategic alignment is improving, but implementation gaps are widening. Twenty-two percent of shipping company representatives reported a net-zero strategy aligned with the IMO net-zero target by 2050 (Wave 1: 14%), and 9% reported a more ambitious strategy. Fifty-nine percent reported a dedicated Sustainability Manager or department (Wave 1: 49%), and Scope 1 emissions monitoring rose to 78% (Wave 1: 73%). At the same time, three implementation barriers saw increases: financial constraints (from 46% to 59%), limited implementation capabilities (from 29% to 50%), and lack of awareness of available solutions (from 27% to 50%).

Biofuels remain the leading transitional fuel. Biofuels are the most used or planned alternative fuel for shipping companies at 59%. LNG fell from 25% to 9%, methanol from 19% to 11%, and ammonia from 14% to 7%. On long-term potential, biofuels lead at 46%, followed by green hydrogen at 20%, green methanol at 17%, and green ammonia at 15%.

Digitalization is operationally embedded but not yet strategic. Seventy percent of shipping company representatives reported using performance monitoring tools, and 79% of seafarers rated digital transition and basic digital awareness as very or extremely necessary training (Wave 1: 73%). Yet digital and cybersecurity skills as a core seafarer competency were prioritized by only 17% of shipping companies (Wave 1: 12%), 16% of seafarers (Wave 1: 10%), and 11% of service providers (Wave 1: 6%). Cybersecurity as a seafarer safety concern rose from 8% to 11%.

Public concern about maritime decarbonization remains high, and shipping is viewed as a significant GHG contributor. Seventy-three percent of civil society respondents rated the importance of maritime decarbonization as high or very high (Wave 1: 78%), and 78% were very or extremely concerned about local environmental impacts (Wave 1: 87%). Fifty-five percent rated shipping’s contribution to global GHG emissions as very or extremely significant; this rating does not estimate the sector’s emissions share (for context, the maritime share of global CO₂ emissions is approximately 3%). Forty-one percent reported no awareness of any GHG reduction initiatives in maritime transport, and 35% were uncertain which alternative fuel holds the most promise for the sector’s future.

Port decarbonisation readiness remains at an early stage. Wave 2 received a single response from a port administration (Port of Tripoli, Lebanon). Findings for ports are therefore presented based on the combined Wave 1 and Wave 2 sample of 11 ports. Across that combined sample, 73% of ports report no low-carbon fuel infrastructure in place, 45% have no ship emissions monitoring capability, and 36% report no planned decarbonisation interventions.

The findings will be opened to expert dialogue at the 3rd European Conference on Shipping, Intermodalism and Ports (ECONSHIP, Chios, 25 September 2026) and the METAVASEA International Workshop on People-Centred Maritime Decarbonisation at the World Maritime University (Malmö, 2 October 2026). HELMEPA, Lloyd's Register Foundation and the METAVASEA partnership invite the expert community to interpret and refine them.

Wave 2 has generated its first youth-led spin-off survey on artificial intelligence and autonomous systems in shipping titled Can We Trust the Machine? designed and carried out by HELMEPA Youth Ambassador Leader Sotiris Salamouris, aged 16, engaging 236 maritime professionals between 28 June and 31 July 2026 under the academic supervision of Professor Dimitris Lyridis of the National Technical University of Athens.

The survey found that 57% of respondents want a human to supervise every AI decision, with only 9% willing to accept a reduced human role. Forty-eight percent say a clear explanation of how the AI reached a recommendation would further build their trust. Support for human oversight rises with experience: from 43% among those with fewer than five years in the industry to 60% among those with more than thirty years.

The second spin-off survey titled Is Training an Investment or a Cost is launched by HELMEPA Youth Ambassador Leader Anna Maria Angelopoulou, under the academic supervision of Mr. Christopher Wiernicki, MIT NAVSEA Professor of the Practice in Mechanical Engineering.

The METAVASEA project adopts a people-centred approach to maritime decarbonisation in the Eastern Mediterranean, a region of strategic importance due to its dense maritime activity and vulnerability to climate change. Coordinated by the Hellenic Marine Environment Protection Association (HELMEPA) with the strategic and financial support of Lloyd's Register Foundation, METAVASEA (Greek for "transition") is a five-year initiative running through 2027. It brings together HELMEPA and its consortium partners (Lloyd's Register, World Maritime University, Cyprus Marine and Maritime Institute, Premium Consulting, MIO-ECSDE, and CYMEPA) alongside 12 associate partners and more than 90 HELMEPA-member companies and contributing stakeholders across the region.

➡️ Download the full Wave 2 Survey Report here

➡️ Take part in Survey Wave 3 by completing the e-questionnaire (~5 min) here

Wave 3 of the survey is currently ongoing, running from December 2025 to April 2027.

For more information, please contact: Constantinos Triantafyllou, Head of Maritime Affairs & Stakeholder Development, This email address is being protected from spambots. You need JavaScript enabled to view it.

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Greece and Cyprus must maintain a strong and coordinated voice

Emphasizing on unity and strategic alignment between Greece and Cyprus, the Annual General Meeting of the Cyprus Union of Shipowners, held on Friday, 18 September 2026, at the Four Seasons Astir Palace Hotel in Athens.

The Cyprus Union of Shipowners also hosted its official dinner in honour of the President of the Republic of Cyprus, Mr. Nikos Christodoulides, in a particularly warm and highly institutional atmosphere, with the presence of the President of the Hellenic Republic, Mr. Constantine A. Tassoulas. The dinner was attended by senior figures from the political and governmental leadership of both countries, including the Vice President of the Hellenic Republic, Mr. Kostis Hatzidakis, the Minister of Foreign Affairs of the Republic of Cyprus, Mr. Constantinos Kombos, the Shipping Deputy Minister to the President, Ms. Marina Hadjimanolis, the Government Spokesman  of the Republic of Cyprus, Mr. Konstantinos Letymbiotis, representatives of the European Union, among them the Commissioner for Sustainable Transport and Tourism, Mr. Apostolos Tzitzikostas, and a Member of the European Parliament, Ms. Elisavet Vozemberg-Vrionidi, Ambassadors of the two states, as well as the Ambassador of the United States of America to Greece, Ms. Kimberly Guilfoyle.

The event was opened by the President of the Union, Mr. Polys V. Hajioannou, who highlighted the strategic importance of Greek and Cypriot shipping as Europe’s largest maritime power and a cornerstone of free navigation worldwide. He underlined that ships and their crews safeguard energy security and the supply of global economies on a daily basis, while warning that European shipping is disproportionately burdened by new regulations such as the EU ETS and FuelEU Maritime, especially for small and medium sized enterprises. He stressed the need for a level playing field and a green transition based on mature technology and truly available fuels. He also referred to the steady rise of the Cyprus Flag and the longstanding support of Greek shipowners. Concluding, he emphasised that the unity of Greece and Cyprus and their shared maritime vision form the foundation for a pioneering, resilient and forwardlooking shipping sector capable of meeting technological and geopolitical challenges.

Immediately afterwards, the President of the Hellenic Republic, Mr. Konstantinos Tasoulas, took the floor, continuing in the same spirit of unity and strategic alignment between Greece and Cyprus. He praised the historic role of shipping as a pillar of economic strength and international presence for both countries, noting that free and safe navigation is a cornerstone of global stability. He stressed that, in a period of heightened geopolitical tensions, the two countries share a responsibility to safeguard the uninterrupted functioning of global supply chains and to defend the principles of open seas.

Mr. Tasoulas then referred to the green and digital transition of European shipping, emphasising that Greece and Cyprus must maintain a strong and coordinated voice within European institutions so that the transition remains competitive, technologically mature and aligned with the real needs of the sector. He also reiterated Greece’s unwavering support for a just and viable solution to the Cyprus issue, based on UN resolutions and the European acquis, underlining that stability in the Eastern Mediterranean is directly linked to maritime security and the prosperity of both countries.

The President of the Republic of Cyprus, Mr. Nikos Christodoulides, concluded the series of speeches, underscoring that shipping is a fundamental pillar of the Cypriot economy and a key element of the country’s international identity. He thanked the Cyprus Union of Shipowners for its longstanding contribution to strengthening the Cyprus Registry and noted that Cyprus works closely with Greece and other EU member states to ensure the security of international navigation. He outlined the sector’s challenges - decarbonisation, digitalisation, technological development and the shortage of human capital - stressing that every new measure must be realistic, proportionate and globally applicable.

Mr. Christodoulides also referred to the positive trajectory of the Cypriot economy and the significant achievements of Cyprus shipping, such as the growth of the Registry and Cyprus’s enhanced presence at the IMO. He emphasised that the close cooperation between Greece and Cyprus in the maritime sector is a constant point of reference, grounded in trust, coordination and a shared commitment to a strong and competitive maritime future. He noted that shipping remains a strategic asset for both countries and that their joint course in a rapidly evolving environment is essential for maintaining their international standing and strengthening Europe’s maritime presence.

The event concluded in an atmosphere of unity and mutual appreciation, reaffirming that shipping is a shared strategic asset for Greece and Cyprus. The continued cooperation between the two countries, the strong presence of shipowners and their dedication to a modern, safe and globally competitive maritime sector form a solid foundation for the future. The Cyprus Union of Shipowners will continue to work with consistency and vision, supporting the joint maritime path of the two states in an environment that is evolving dynamically.

The event was graced by the presence of prominent shipowners including Angelakos, Coustas, Daifa, Dragnis, Efstathiou, Fafalios, Goumas, Hadjiyiannis, Hajioannou, Inglessis, Kanellakis, Klerides, Koch, Kollakis, Laskaridis, Martinos, Melisanidis, Moundreas, Mouskas, Mylona, Paliou, Panagiotidis, Panagopoulos, Patitsas, Pittas, Procopiou, Saracakis, Souravlas, Stafylopatis, Stengos, Theocharakis, Tsatsakis, Tsavliris, Vafeias, Xylas, and others.

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Three concepts met in Athens at an event under the auspices of the First Lady of the Republic of Cyprus, Ambassador, Mrs. Filippa Karsera Christodoulides which was organized by the Deputy Ministry of Shipping dedicated to the woman of shipping and her timeless role in social contribution, solidarity and support of fellow human beings.

As the Deputy Minister of Shipping, Ms. Marina Hadjimanolis, stated in her greeting: "I am particularly pleased that we have with us today so many women of our shipping family who in their own way have connected with the social contribution of the shipping community. Your presence gives special meaning and weight to our event today.

The woman in shipping is not just the woman who works in the industry.

She is the professional, the scientist, the woman of the sea, but also the woman who contributes to society through her family, charitable foundations and personal initiatives."

Special thanks to the First Lady of the ?? Ambassador, Mrs. Filippa Karsera Christodoulides, for her presence and support at the above event.

As Ms. Christodoulides, said in her speech: "We honor the people of the sea and underline the important contribution of women in this very demanding but vital sector, not only for the economy, but also for society at large."

At the same time, Mr. Polys Hajioannou, President of Cyprus Union of Shipowners (CUS) said: "Women in shipping do not just participate in the industry, they develop it. They don't just offer to society, they inspire it. They are not just continuing a tradition, they are expanding it."

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UW Group, in collaboration with its principal WENCON, successfully hosted two technical training sessions dedicated to epoxy repair products and solutions for marine applications.

The training sessions were held on 9 September 2026 in Greece and 17 September 2026 in Cyprus, bringing together maritime professionals for a practical and interactive programme focused on the correct application of WENCON epoxy products in marine repair and maintenance.

The programme was designed to combine technical knowledge with practical experience, providing participants with an opportunity to gain a deeper understanding of WENCON products and their application in real marine environments.

Combining Technical Knowledge with Hands-On Experience

The training programme covered four key areas:

- Technical Presentation – An overview of WENCON epoxy products, their characteristics and applications in marine environments.

- Surface Preparation – Guidance on correct preparation methods, application techniques and best practices.

- Practical Application – Hands-on demonstrations using real components, allowing participants to observe the application process in practice.

- Q&A and Case Discussion – An interactive session addressing technical questions and discussing real onboard repair cases, with practical technical advice from the WENCON team.

The practical element of the training provided participants with an opportunity to see how epoxy repair solutions can be applied to specific marine repair requirements, while the case discussions focused on challenges and solutions encountered during actual onboard operations.

Following the technical programme, participants continued the exchange in an informal setting over a buffet and drinks.

Strengthening Technical Knowledge and Industry Collaboration

The training reflects UW Group’s ongoing commitment to supporting the maritime industry not only through the representation of specialised marine solutions, but also through technical knowledge sharing and practical support.

Through its cooperation with WENCON, UW Group provides access to specialised epoxy repair solutions together with the technical expertise required for their effective application.

The two sessions also provided a valuable platform for professionals to exchange experience, discuss practical challenges and strengthen technical knowledge across the marine repair and maintenance sector.

UW Group and WENCON would like to thank all participants for their active involvement and contribution to the discussions.

About UW Group

UW Group is a globally recognised leader in shipping representation, providing specialized maritime services through its UMAR Shipping Services and WSR Services divisions. With an international network spanning Cyprus, Greece, Singapore, the UAE and China, UW Group supports customers and principals across a broad range of maritime requirements.

About WENCON

WENCON develops and supplies epoxy-based repair and maintenance solutions designed for a wide range of industrial and marine applications. Its products are used for maintenance, repair and restoration of components and equipment in demanding operational environments.

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With a special anniversary event, Poseidon Marine Supplies celebrated 50 years of continuous presence and growth, marking a journey that began in 1976 and remains closely connected to the maritime industry and the Port of Piraeus. Under the anniversary message “50 Never Looked So Good”, the company celebrated half a century of progress and achievement, together with the people who have contributed, and continue to contribute, to its journey.

The event took place on Friday, 18 September, at ‘Nice n Easy’ at Piraeus Tower, an iconic venue offering panoramic views over the port. Clients, partners, employees and friends of the company came together for an evening dedicated to Poseidon’s history, its people and its future.

A highlight of the evening was the speech by the company’s Founder and CEO, Mr Michael Papachastas, who, with both emotion and humour, took guests back to Poseidon’s early days — from its small store on Akti Miaouli in 1976 to the company’s international presence today. Through personal memories and stories from its 50-year journey, he paid tribute to the people who stood by his side and contributed to Poseidon’s growth, emphasising that the company’s greatest achievement is, above all, its people.

Among the distinguished guests was the First Vice President of the Hellenic Parliament, Mr Ioannis Plakiotakis, along with representatives of the maritime community, journalists, clients, partners and employees of Poseidon Marine Supplies.

In a warm and festive atmosphere, guests enjoyed a selection of culinary creations and drinks from the open bar. The evening continued with dancing to the DJ’s upbeat music, under the moonlight and with the Port of Piraeus as a backdrop, creating the perfect setting to celebrate this special anniversary.

Today, Poseidon Marine Supplies is one of the leading companies in the fields of Ship Supplying and FRS Equipment Inspection. Headquartered in privately owned facilities of more than 10,000 sq.m. in the heart of Piraeus, the company employs over 200 people.

At the same time, Poseidon Marine Supplies continues to strengthen its international presence. In Rotterdam, through its subsidiary Harding Marine Services, the Group provides ship supplies and provisions, serving the needs of the maritime industry across Northern and Central Europe.

In parallel, through the Poseidon Service Network, the company operates specialised FRS service stations in Rotterdam, Limassol, Houston, Barcelona, Algeciras, Dubai and Suez, providing inspection and maintenance services for life-saving and fire-fighting equipment.

Through this expanding international network, Poseidon continues to invest in its global growth, going further across the world in order to be closer to vessels and their needs.

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Y/KNOT Invest, the Greek shipping company that paved the way for the presence of shipping companies on Euronext Athens, proceeded to the first charter agreement for the tanker AMETHYST, which recently joined its fleet. The charter is already underway and is expected to last between 2.5 and 3.5 months.

The agreement is estimated to generate revenue between USD 3 million and USD 5.5 million over the charter period.

AMETHYST was acquired in late June for a total consideration of USD 44 million and was immediately deployed in the Company’s commercial operations. Y/KNOT Invest remains focused on executing its strategy, seeking to optimise the value of its investments and further strengthen its position in the international shipping market, with the aim of generating attractive returns for its shareholders.

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49th Annual Conference on Oceans Law and Policy

The growing operational, investment and financial pressures created by expanding maritime compliance obligations were highlighted by George C. Xiradakis, Founder & CEO of XRTC Business Consultants Ltd and President of the Association of Banking and Financial Executives of Hellenic Shipping, during the 49th Annual Conference on Oceans Law and Policy.

The Conference took place on 21 September 2026 at the Headquarters of the National and Kapodistrian University of Athens. Mr Xiradakis participated in Panel IIIA: “Maritime Security and the IMO,” which examined the central role of the International Maritime Organization in developing effective global regulatory and governance frameworks as maritime security challenges become increasingly complex and interconnected. The panel was chaired by Professor Ronán Long, Director of the WMU-Sasakawa Global Ocean Institute and Nippon Foundation Professorial Chair of Ocean Governance and the Law of the Sea at the World Maritime University. The panel featured the following interventions:

• “The IMO Legal Committee Work on Contemporary Maritime Security Threats and Fraudulent Ship Registration”, presented by Dr Dorota Lost-Siemińska, Director of the Legal Affairs and External Relations Division of the IMO.
• “The Development of the Concept of Maritime Security from the Perspective of the IMO”, presented by Professor Atsuko Kanehara, Research Director at the Canon Institute for Global Studies and Senior Fellow at the Sasakawa Peace Foundation.
• “Shipping Under Pressure: Managing Maritime Operations and Investments in an Era of Expanding Compliance Obligations”, presented by Mr George C. Xiradakis, President of the Association of Banking and Financial Executives of Hellenic Shipping and Founder and Managing Director of XRTC Business Consultants Ltd.
• “Protecting the Ship, the Seafarer and the Signal: The IMO’s Recent Regulatory Practice against Contemporary Maritime Security Threats”, presented by Dr Sanjeet Ruhal, The Nippon Foundation Lecturer at the IMO International Maritime Law Institute.

Mr Suriya Sundararajan of the WMU-Sasakawa Global Ocean Institute served as the panel’s Rapporteur.

In his intervention, Mr Xiradakis underlined that maritime security can no longer be viewed solely through the traditional challenges of piracy, armed robbery and physical attacks against vessels. It now encompasses a much wider range of regulatory, geopolitical, technological, operational and financial risks.  Shipping companies must comply simultaneously with IMO conventions, regional regulations, national legislation, sanctions regimes, environmental requirements, cybersecurity standards and the contractual expectations of charterers, insurers and financial institutions.

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HD Hyundai Heavy Industries, GTT and LR have launched a joint project to develop a 150,000 cbm ultra-large ethane carrier, exploring the next step in large-scale ethane transportation.

Lloyd's Register (LR), HD Hyundai Heavy Industries (HHI) and GTT have signed a joint development project (JDP) agreement to develop and technically assess a 150,000 cbm ultra-large ethane carrier (ULEC), incorporating GTT’s Mark III Slim design.

Announced at Gastech 2026 in Bangkok, the project will bring together HHI's shipbuilding expertise, GTT's cargo containment technology and LR's classification and technical assurance capabilities to develop and review the vessel design in accordance with LR Rules.

The 150,000 cbm ULEC concept is the largest vessel design for the ethane carrier segment. As ethane trade volumes continue to grow and voyage economics become an increasingly important consideration for operators, the industry is exploring larger vessel concepts capable of transporting greater cargo volumes while maintaining high standards of safety, operability and efficiency.

Through the JDP, the partners will evaluate the technical challenges and opportunities associated with scaling ethane carrier capacity to 150,000 cbm. The project will focus on vessel design development, cargo containment integration, safety considerations and compliance with applicable classification and regulatory requirements.

The collaboration aims to establish a robust technical foundation for future ultra-large ethane carrier projects while providing greater understanding of the design, operational and safety considerations associated with vessels of this scale.

Constantinos Chaelis, Global Gas Segment Director, LR, said: “As the ethane trade expands, owners are looking for larger and more efficient vessel concepts that can deliver operational and commercial advantages without compromising safety or reliability.

“This collaboration provides an opportunity to apply our advanced gas carrier expertise to the development of a credible and technically robust 150,000 cbm ULEC concept that helps establish a clear technical pathway for future projects in this segment.”

Hongryeul Ryu, Chief Technology Officer, HHI, said : “HHI has continuously pursued technological innovation, with optimized ship designs tailored to operating conditions and customer requirements serving as one of its core design values.

“This JDP is founded on the same design philosophy and aims to introduce a new solution that enhances both vessel performance and economic efficiency.

“HHI's 150,000 cbm ULEC, incorporating the MARK III SLIM design, is expected to become a next-generation vessel that achieves both weight reduction and improved performance. Furthermore, this project is anticipated to represent an important milestone in establishing a new paradigm for ship design through the application of the latest cargo containment system (CCS).”

François Michel, Chief Executive Officer, GTT, said: “Thanks to the versatility of our technologies, we can deliver greater efficiency across ethane transportation. With Mark III Slim, this translates into increased cargo capacity and shorter vessel construction times. GTT, HD Hyundai Heavy Industries and Lloyd’s Register share the ambition and responsibility to advance a new generation of increasingly efficient vessels that maintain the same rigorous standards of safety, reliability and industrial compliance.”

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Star Bulk Carriers Corp. officially marked the start of its trading on the Athens Stock Exchange (ATHEX) during a celebratory opening bell ceremony

Welcoming Star Bulk to the market, Mr. Ioannis Kontopoulos, Managing Director of the Athens Stock Exchange, highlighted Athens' growing role as an attractive hub for shipping leaders and high-quality corporations. He expressed strong optimism for Star Bulk's debut, pointing to the recent successful bond issuances and dual listing by shipping peers like Safe Bulkers.

Spyros Capralos, Chairman of the Board of Directors of Star Bulk Carriers Corp., said: “Today, just one day after the 150th anniversary of Euronext Athens, we are here to ring the bell on Star Bulk Carriers' first day of trading. The public offering closed more than six times oversubscribed, with bids exceeding €656 million, demonstrating that the Greek capital market has the depth and the credibility to host the industry in which Greece leads the world.” 

Petros Pappas, Founder and CEO of Star Bulk Carriers Corp., said: “I want to thank our new shareholders who trusted us and invested in our company. Today we are opening our shares to the market of the country in which this company was built. What begins today is something larger than us: a shipping ecosystem in the Greek capital market. My hope is that we will soon see the right shipping companies joining this effort, and a maritime index on Euronext Athens.”
It is reminded that Star Bulk completes 20 years of continuous growth, with a fleet of 145 vessels totaling 14.4 million dwt, including ships currently under construction.

The offering price was set at €24.50 per share, with 4.4 million shares issued.

The Market capitalisation was €3.14 billion on the day of listing. The Initial Public Offering (IPO) raised a total of €107.8 million.

The Offering attracted strong demand from international institutional and retail investors, with the Global Placement 6x oversubscribed at the offer price.

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