The 15th edition of Lloyd’s List’s annual ranking of the most influential people in shipping finds the industry in a state of flux.

This year’s list is still replete with the bold moves, power plays and from a list of the most important industry players.

12 Maria Angelicoussis, Angelicoussis Group

Principal and chief executive of Greece’s largest shipping group is writing new chapters of her own into an illustrious family history

Spectacular move into shuttle tankers puts financial clout and vision of the major shipowner on display

16 Evangelos Marinakis, Capital Group

Mercurial Greek owner has a bold longer-term vision, yet remains a pragmatic deal-maker

Flagship publicly listed company led by Marinakis has been rebranded Capital Clean Energy Carriers and is on track to become the largest US-listed energy transition fleet

17 Magda Kopczynska, Kurt Vandenberghe and Fotini Ioannidou, European Commission

Europe is preparing to splash the cash to boost its growth — and shipping wants in

Shipping groups will make the case to a new European Commission that spending to create a local green fuels industry is the right way forward for the bloc, the industry and the planet

20 George Prokopiou, Dynacom/Dynagas/Sea Traders

Lest some splashy real estate purchases should sow confusion about the Greek owner’s main business focus, just take a look at the orderbook

Innovator Prokopiou has doubled down on his choice of conventional fuel for a new generation of tankers and bulkers

24 Angeliki Frangou, Navios

In the face of uncertain times, the disciplined shipowner keeps the focus on aspects that she can control

Consolidation of dry bulk, tanker and container fleets into one diversified entity allows Frangou and US-listed Navios to take advantage of market dynamics

26 Melina Travlos, Union of Greek Shipowners

Association's president is both at home on a global stage and in leading Greek shipping’s social efforts in its home country

In her first term heading the largest national shipowning association, Travlos has excelled at building industry coalitions and communicating shipping’s positive mission

33 George Economou, TMS Group

Shipowner, art collector and now tech bro looks like he’s having a lot of fun riding the waves

Economou’s TMS Group has one of the largest private newbuilding orderbooks and is looking to future-proof itself in a new energy transition partnership with Lloyd’s Register

35 Kostis Konstantakopoulos, Costamare

Chief executive is continuing to stake out a broader footprint in shipping as the Greek company turns 50

While the traditional container shipping franchise has been reliably producing strong results, Costamare has also been decisive in jumping into other sectors

37 Petros Pappas, Star Bulk Carriers

Greek shipowner has emerged as one of the few consistent consolidators in the fragmented dry bulk shipping sector

The recent merger with Eagle Bulk was a coup for Pappas and his team

49 Peter G Livanos, GasLog/DryLog/EcoLog

Shipowner with a long historical lineage has always looked well into the future to position himself

Greek owner is to the fore in exploring CO2 and hydrogen shipping but remains a force in LNG shipping and dry bulk

63 George Logothetis, Libra Group

This year marked the end of an epic containership asset play for the executive chairman

One of the greatest traps in shipping is to get greedy and try to time cycles too closely. At the Libra Group, Logothetis has thrived for decades using a counterintuitive mantra: buy cheap and sell expensive

76 Nikolas Tsakos, Tsakos Energy Navigation

Few, if any, have led a public shipping company on such an even keel for so long as this chief executive and president

By opening the country’s first private marine academy, the Tsakos family is being true to its shipping roots, but also showing how to combine doing good with being smart

83 Elpi Petraki, Enea Management/Wista

President celebrates her second year as the organisation representing women in shipping reaches its 50-year milestone

Alongside the IMO, Petraki-led Wista is running the second Women in Maritime Survey, a critical source of information on gender diversity in the industry 

87 Semiramis Paliou, Diana Shipping/Helmepa

Highly experienced owner has widened the horizons for the two publicly listed shipping companies she helms

Leadership of the shipping-linked environmental organisation Helmepa reflects Paliou’s progressive and sustainable beliefs

98 Costas Grammenos, Bayes Business School

Business school professor has guided and educated the most successful executives across the shipping industry for decades

Prof Grammenos received yet another honorary doctorate this year as he celebrated the 40th anniversary of the Costas Grammenos Centre for Shipping, Trade and Finance.

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The WISTA Hellas Gala Dinner & Awards Ceremony that took place on Monday 19^th of December at the Athens Marriott Hotel brought together members, supporters, and industry leaders for a night dedicated to excellence, inclusion, and fostering a future of opportunities for all.

Among the Highlights of the Evening WISTA Hellas proudly honored exceptional women who lead by example.

Ms. Semiramis Paliou, recipient of the Leadership Award, recognized for her impactful roles in shipping through Diana Shipping., her dedication to marine environment protection as President of HELMEPA - Hellenic Marine Environment Protection Association and INTERMEPA and her commitment to actively pursuing and supporting diversity and the empowerment of women throughout her career.

Mrs. Rodiani Giagkidou, Vice Commander and Mrs. Katerina Xanthou, Lieutenant of the Hellenic Coast Guard, celebrated for their outstanding contributions to the Coast Guard, acting as role models for young women.

The evening was more than an awards ceremony; it was a celebration of the values and commitment that drive our mission, a warm exchange of wishes for the festive season, and a reflection on the vital role WISTA Hellas plays in the Greek shipping industry.

As Mrs Vivi Kolliopoulou, president of WISTA Hellas stated: “Thank you to everyone who joined us in making this event truly memorable. Together, we continue to empower, inspire, and lead the way forward”.

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With the aim to take advantage of Golden Destiny’s long term and valuable expertise and legacy in the shipbroking sector Intermodal Shipbrokers proceeded to the acquisition of the company.

Intermodal announced that: “We are privileged to announce that we are welcoming Mr. Michalis Kokkinis, his skilled staff and the legacy of Golden Destiny into the Intermodal team. 

For over 30 years, Golden Destiny has been a trusted and respected name in the maritime service industry, synonymous with reliability and integrity in our sector. This transition allows us to carry forward their history and expertise in a respectful and thoughtful manner, whilst ensuring business continuity for Golden Destiny's valued clients and employees and allowing us to remain steadfast in our vision for the future, maintaining our core values and mission. 

This is a natural evolution of our path, and we are proud to be the custodians of such a rich heritage while forging ahead with our own”.

Michail D. Kokkinis Founder and Managing Director Golden Destiny S.A. commented: “Since 1994, Golden Destiny has been a recognizable and respected name in the international shipping industry in the shipbroking sector. Over the past 30 years, Golden Destiny has been instrumental in negotiating hundreds of ship sales and purchase transactions, has been a trusted partner for several entrepreneurs and investors that entered the shipping industry and became prominent shipowners, and has been consulting many veteran shipowners and banks in their investments from all over the world. Furthermore, Golden Destiny, has trained a lot of shipbrokers that are presently serving the international shipping industry, from various esteemed shipbroking firms, instilling in them values that make the Greek shipbrokers respected around the world.

In our effort to maintain, strengthen and improve on the level of service to our industry, without compromising our values and ethics, we have found a trusted partner with similar values, operations and heritage as our own in INTERMODAL Shipbrokers CO., founded by the veteran shipbroker Mr. Kyriakos Dermatis. INTERMODAL Shipbrokers that is now being led his son Mr. George Dermatis will be driving the vision and goals of our company to the next generation.

This collaboration is beyond an operational consolidation, as like-minded seasoned professionals with a great depth of know-how and network are joining forces to improve on the level of service adapting to the changes in the industry as dictated by the market forces.

I would like to personally thank you for your support all these years and we are inviting you to continue our voyage together under the strengthened INTERMODAL Shipbrokers brand that will soon celebrate its 40th Anniversary”.

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The Institute of Chartered Shipbrokers Greek Branch held its 19^th Annual Forum, on Wednesday, 27^th of November 2024, with the theme “SHIPPING BEYOND BORDERS”.

This year’s event took place with physical attendance at the Eugenides Foundation, while it was broadcast live around the world and attended online by hundreds of friends and Members of the Institute.  Among the distinguished guests was H.E. Mr. Matthew Lodge, His Majesty’s Ambassador to the Hellenic Republic, who later addressed the audience during the Awards Giving Ceremony.

A welcome address was made by Ms Natalia Margioli - Komninou FICS, Managing Director of the ICS Greek Branch and Hellenic Management Centre. Ms Margioli-Komninou emphasized the international presence of ICS and highlighted Greek Branch’s dedication to excellence in maritime education and professional development. She mentioned that the Branch has educated 4,000 students to achieve ICS Membership, a prestigious mark of competence in the shipping industry. This success is attributed to the commitment of expert tutors who inspire and shape the next generation of professionals. She concluded that with over 10,000 professionals benefitting from corporate training programs, ICS continues to support both individuals and organizations in adapting to the evolving industry while the Company Membership scheme is now open to companies that wish to benefit from the ICS’s international recognition and expanded business networks.

Mr Nicolas A. Tsavliris, FICS, Chairman of the ICS Greek Branch and Tsavliris Salvage Group addressed a very warm welcome to the attendees of the Forum. Mr Tsavliris highlighted the profound challenges and opportunities facing the shipping industry in an era of rapid change. Geopolitical instability, including conflicts in Ukraine and Gaza, cyber threats, and the potential impacts of shifting global trade policies, underline the fragility of international stability. Reflecting on the theme Shipping Beyond Borders, he emphasized the need to transcend modern boundaries - geopolitical, digital, environmental, and regulatory - while embracing innovation and resilience. Drawing inspiration from maritime history and the teachings of Heraclitus, he urged industry to adapt to evolving currents such as decarbonization, digitalization, and autonomous vessels.

During the 19th ICS Annual Forum, the Minister of Maritime Affairs and Insular Policy, Mr Christos Stylianides, delivered a video message emphasizing the vital role of the Greek maritime sector in driving the nation’s economy. Highlighting Greece’s position as a global leader in shipping, he underscored the sector’s contribution to employment, innovation, and international trade. Mr Stylianides commended the ICS Greek Branch for its pivotal role in educating the next generation of maritime professionals, reinforcing Greece's legacy in shaping the future of the shipping industry.

The panel included the following distinguished speakers:

• Harris Antoniou · Founder & CEO, Neptune Maritime Leasing Ltd.
• Helena Athoussaki · Chief Sustainability Officer, Motor Oil Group
• Dimitris Patrikios, FICS · Managing Director, V. Ships Greece Ltd.
• Mark Pearson, Managing Director, Maran Tankers Management Inc.
• Eva Tzima · Head of Research & Valuations, Seaborne Shipbrokers
• Dimitri Vassos · Managing Partner, HFW Greece
• John A. Xylas · President & CEO, Ariston Navigation Corp.

The panel was moderated by Mr Simon Ward, FICS, Director, Ursa Shipbrokers. His expert facilitation of discussions, posing critical questions, and encouraging diverse viewpoints, played a crucial role in the success of the event.

The forum itself was very informative and comprehensive, covering a spectrum of issues facing the shipping industry at a global level.

Ms Eva Tzima highlighted the challenges in the current market, emphasizing that sentiment plays a significant role in pricing, and uncertainty is leading to cautious decision-making. She noted that the dry bulk slowdown reflects China's shift toward quality over quantity and its reduced reliance on property-driven growth. Mr Mark Pearson emphasized the nature of shipping as a highly regulated industry, where compliance requires significant resources and adaptability. He highlighted that, in the context of sustainability, company size plays a crucial role, with larger organizations better equipped to navigate regulatory challenges and implement sustainable practices effectively. Mr John Xylas highlighted the uncertainty in the market over the past six to twelve months, emphasizing that many owners remain cash-rich, reducing the urgency to sell, while operators face challenges in securing long-term charters due to a lack of available vessels. He pointed out the trend toward consolidation in the industry but noted that the foundation of shipping continues to be small to medium enterprises. This underscores the resilience required by smaller players to adapt to the evolving regulatory environment. Mr Dimitri Vassos reflected on the impact of sanctions and protectionist policies on sale and purchase transactions. He emphasized the need to adapt to the geopolitical landscape and recognized the evolving role of ESG compliance in shaping the industry's future. Mr Dimitris Patrikios underscored the importance of agility in navigating economic and market volatility. He addressed the challenges posed by the energy transition, emphasizing that while it is a necessary societal shift, the availability of alternative fuels remains limited and not yet scalable to meet the industry's demands. Mr Harris Antoniou discussed the growing trend of economic fragmentation and its implications for shipping, emphasizing the industry's resilience as a connector in global trade. He also reflected on the financial sector's heightened scrutiny of emissions, acknowledging that while intervention is sometimes necessary to influence progress, the challenge lies in ensuring these measures are effective and aligned with long-term goals. Ms Helena Athoussaki emphasized the significance of ESG as a comprehensive framework comprising policies, procedures, metrics, and targets that evaluate a company's performance concerning financial risks and opportunities across the pillars of environment, social responsibility, and governance. She highlighted the importance of analyzing trends by assessing both their risks and opportunities, underscoring ESG's growing role in shaping strategic and operational decisions within the maritime industry.

The panelists collectively highlighted that future maritime professionals should embody integrity, humility, and a strong work ethic as the foundation for success. Agility, adaptability, and collaboration across departments are crucial for navigating a volatile market and driving strategic decisions through data insights. A passion for the industry, commitment to excellence, and a willingness to learn were deemed essential, while traits like negativity, unresponsiveness, and unethical behavior were discouraged. These qualities define the ideal profile for thriving in the dynamic shipping industry.

The emphasis on essential skills and attributes for future maritime professionals resonates with the outstanding achievements of ICS Greek Branch. The excellent performance of the Greek Branch is translated into 5 International Prize Winners and 4 distinction students, who have excelled in the ICS Professional Qualifying Examinations in 2023-2024. All of them were honored during the Awards Giving Ceremony, which was included in the Annual Forum’s proceeding.

During the award presentation, H.E. Mr. Matthew Lodge, His Majesty’s Ambassador to the Hellenic Republic, highlighted the significance of the ICS in advancing professional standards within the shipping industry. He praised the Institute's long-standing legacy, established under its Royal Charter in 1920, for shaping maritime education and contributing to the sector’s global development. The Ambassador expressed the British Embassy's pride in collaborating with the ICS Greek Branch and commended its efforts to promote professionalism in this vital field. Concluding his remarks, he congratulated the award recipient for their exceptional achievement, embodying the excellence fostered by the ICS.

The International Prize Winners are:  

• Philip Iliakis, Trafigura: Award to the candidate with the highest marks in Ship Sale &Purchase Examinations worldwide
• Liesza Bertram – Sotiriadis, Holland Hellenic Shipping Agencies: Award to the candidate with the highest marks in Shipping Finance Exams worldwide
• Panagiotis Michaleakos: Award to the candidate gaining the highest marks in Dry Cargo Chartering worldwide
• Alexandra Mangos (2 prizes): Award to the most successful candidate overall in Examinations and award for gaining the highest marks in Shipping Law worldwide

The distinction students are:

• Eleni Manioudaki, Ifchor Galbraiths: Award to the candidate gaining a distinction in Shipping Finance Examinations
• Alexios Mavropoulos, Halkidon Shipping Corporation: Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations
• Emanet Meliksha: Award to the candidate gaining a distinction in Shipping Business Examinations
• Evangelos Karagoudakis, Wilhelmsen Port Services: Award to the candidate gaining a distinction in Shipping Business Examinations

The 19th Annual Forum of the ICS Greek Branch was held with the kind contribution and support of the following sponsors: AB Maritime Inc., Acropolis Chartering & Shipping Inc, Arrow Shipbroking Group, Capital Ship Management Corp., Clarksons Hellas Ltd,  Danaos Management Consultant S.A., Danaos Shipping Co. Ltd, Dorian LPG Management Corp, Eastern Mediterranean Maritime Ltd, Element Shipmanagement S.A., Euroseas Ltd,  Hellaschart Ltd,  Holman Fenwick Willan International LLP, Insight Shipping Partners SA, The Marshall Islands Registry International Registries Inc., Navios Maritime Partners L.P., Nereus Shipping S.A., Safe Bulkers Inc., Seaborne Shipbrokers S.A., Seanergy Maritime Holdings Corp., Target Marine S.A., Technomar Shipping Inc., Tsakos Energy Navigation Ltd., Tsavliris Salvage Group, UK Defence Club, Ursa Shipbrokers S.A, V. Ships Greece Ltd., WCI Maritime Services  

The 19th Annual Forum is available for replay on demand at the following link:

https://www.youtube.com/live/ThK78Oyf9SA

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On November 21, 2024, Navios Maritime Partners held the naming ceremony of two 7,700 TEU LNG dual fuel Containerships, the “HMM Ocean” and the “HMM Sky”.

The ceremony took place in HJ Shipbuilding & Construction yard in Busan.

The two vessels signal a significant milestone for both Navios Partners and HMM as they are the first LNG powered vessels in both fleets, demonstrating the company’s strong commitment to reduce emissions, build environmentally friendly vessels and take advantage of latest technological developments.
The company is also proud to welcome a female Chief Engineer onboard the HMM Ocean!

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DryDel Shipping entered into the Capesize sector with the order of two sister vessels of 182,000 dwt from Namura Shipbuilding in Japan, scheduled for delivery within 2028.

This expansion provides DryDel with the following advantages:

- Top-performing, scrubber-fitted Capes

- Taking advantage of a historically low Cape orderbook

- Diversification into a larger-size drybulk sector

The successful realization of this project as a Joint Venture with our trusted Japanese partners highlights the company’s long-lasting relationship and mutual support. The two Capes will be fully managed, both commercially & technically, by DryDel.

This milestone follows the successful delivery of 4 x 40K dwt vessels from Namura in 2024. Looking ahead the newbuilding program consists of 10 dry bulk vessels to be delivered over the next four years.

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In the framework of the AHEPA Awards established by AHEPA Hellas, Naftiliaki Glafx on November 29 at the Intercontinental Hotel presented an award to Haris Vafias for his contribution and performance in the international economic arena.

The award was presented by Mr. Savvas Tsivikos, (Supreme President AHEPA) from Washington and Mr. Dionysis Politis.

In his speech, Mr. Vafias referred to his origin from Chios, to the great charitable work of AHEPA, but also to how he managed to be the only Greek shipowner with three listed companies on the Nasdaq in New York.

It should be noted that the three listed companies of the Vafias Group (StealthGas, Imperial Petroleum & C3is) in the first 9 months of 2024 had the following impressive results:

- Nine-month revenue: $ 280 million

- Net income: $ 115 million

- Total assets: $ 1.3 billion

and zero bank lending for IMPP, C3is, StealthGas

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The recent workshop on "Effective ESG Reporting for Shipping" with Program Sponsor Enablon & Supporter Sponsor KPMG, brought together industry leaders, financial experts, and sustainability professionals to discuss the evolving landscape of ESG reporting. The event highlighted the growing importance of ESG as a critical component for resilience, accountability, and risk management in the maritime sector.

Participants:

Paul Tours, Senior Solution Consultant, Wolters Kluwer EHS & ESG

Irene Spanoudaki, Director/Head of Group Risk Management Strategy Planning and Operations, Eurobank

George Iliopoulos, Director, ESG & Sustainability Services, KPMG

Costas Constantinou, Managing Partner & Global Shipping Leader, Moore Greece

Vasileios G. Petousis, Energy & Sustainability Manager, Seanergy Maritime Holdings Corp.

Georgia Fardellou, Head of ESG and Corporate Communications, Starbulk Carriers Corp.

Moderator: 

Helena Athoussaki, Principal Organizer ESG Shipping Awards

Key Takeaways from the workshop:

George Pateras underscored the importance of creating comprehensive guidelines to help smaller companies navigate ESG reporting. He advocated for benchmarking, ensuring verification to avoid greenwashing, and upholding shipping's leadership role in ESG practices.

Paul Tours emphasized the need for traceability, accountability, and centralized ESG data systems to ensure consistent and auditable reporting, aligning ESG data with the rigor of financial reporting standards.

George Iliopoulos described ESG reports as the equivalent of annual financial statements for sustainability, offering a detailed "X-ray" of a company’s ESG performance. He stressed the need to disclose impacts on the environment, society, and governance, as well as economic risks and opportunities. Mr Iliopoulos also outlined the importance of having an independent role within companies responsible for managing ESG information and strategy to ensure accurate and forward-looking reporting.

Costas Constantinou highlighted the importance of a cultural shift within the industry. He stressed that while smaller companies may initially be hesitant to adopt new ESG frameworks, they are already engaging in many ESG-aligned activities. Mr Constantinou also emphasized designing reliable processes, identifying information origins, and ensuring robust controls to enhance credibility in ESG reporting.

Irene Spanoudaki highlighted the banking sector's perspective, pointing out the integration of ESG risk assessments with credit risk evaluation and stressing the importance of reliable data for enabling a smooth green transition across industries.

Vassilis Petoussis remarked on the shipping industry's existing ESG efforts, urging systematic communication of practices and the establishment of reliable data collection processes to build effective ESG strategies.

Georgia Fardellou shared her company's experience with increasing pressure from stakeholders such as banks, shareholders, and charterers, who demand transparency in ESG reporting and participation in ESG related initiatives.

The panel collectively agreed on the need for accurate data management, interdisciplinary collaboration, and aligning ESG goals with operational processes. They also stressed that ESG efforts should transcend compliance and serve as a pathway to improving internal systems, enhancing credibility, and fostering stakeholder trust.

Live polls conducted during the workshop revealed the following insights:

• Familiarity with ESG Reporting:While 29% of participants were very familiar with ESG reporting, 53% were somewhat familiar, and 19% had little familiarity, highlighting the need for continued education.
• Readiness for ESG Adoption:A majority (75%) of attendees agreed the industry is making progress but slowly, while 21% believed it is on the right track, and only 4% saw significant resistance.
• Challenges in ESG Reporting:Collecting reliable data (48%) was identified as the top challenge, followed by gaining internal support (33%) and understanding frameworks (17%).
• Key ESG Priorities:Most respondents (59%) viewed environmental, social, and governance factors as equally important for the shipping sector, emphasizing the need for a holistic approach.
• Credit Risk and ESG Reporting:63% believed ESG reporting influences credit risk assessments to some extent, while 38% felt it had a significant impact.
• Responsibility for ESG Reporting:A diverse range of departments was suggested, with QHSS (41%) leading, followed by finance (22%), legal (5%), and other (32%).

This workshop served as a significant step in empowering the shipping industry to navigate ESG complexities and position itself as a leader in sustainability and governance.

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Panama has reached a historic milestone, registering 358 newly built ships to date, representing over 8.5 million Gross Tonnage (GT). This achievement reaffirms Panama’s status as the world leader in ship registration, surpassing historical averages and cementing the Panamanian registry as the preferred choice for shipowners modernizing their fleets.

This record-breaking performance reflects a strategic commitment to sustainability and the advancement of Panama’s maritime sector. The Panama Maritime Authority (PMA) has implemented a suite of incentives and specialized benefits aimed at attracting shipowners engaged in new vessel construction, with a clear focus on renewing the global fleet.

The Panamanian flag offers unparalleled advantages, including:

- Economic incentives that promote the development of energy-efficient, environmentally friendly vessels.

- Streamlined processes powered by cutting-edge technologies, significantly reducing administrative time and enhancing efficiency.

- Global support infrastructure through an extensive network of consulates and technical offices, ensuring exceptional client service worldwide.

Panama’s leadership is underscored by its management of 15% of the global fleet, as reported by Clarksons Research. Additionally, HIS Markit notes that Panama’s registry includes 8,742 vessels, amounting to over 249 million GT.

Through its Directorate General of Merchant Marine, the PMA remains steadfast in its mission to propel the Panamanian registry forward. By investing in advanced technologies, enhancing workforce expertise,

and seizing new opportunities in the maritime market, Panama continues to solidify its role as a global maritime leader.

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MAN Energy Solutions has  development its ME-LGIA (Liquid Gas Injection Ammonia) engine entering a new phase with the commencement of testing of a full-scale, two-stroke engine running on ammonia at its RCC (Research Centre Copenhagen).

Ole Pyndt Hansen, Head of Two-Stroke R&D, MAN Energy Solutions, said: “Having already completed more than 12 months of testing on a single cylinder running on ammonia, it’s a significant milestone to be able to step up to full-scale engine testing. We have been busy with the conversion process over the past few months, including ensuring that all safety provisions work according to our requirements. We are now ready for the next phase that will focus on, among other parameters, combustion and emissions, engine-tuning, atomizer testing and control-system verification. This is provisionally set to continue until mid-2025.”

Bjarne Foldager, Head of Two-Stroke Business, MAN Energy Solutions, said: “The market is hungry for any news related to our ME-LGIA development and this, the beginning of testing on the world’s first two-stroke, full-scale ammonia engine, is a major milestone. MAN Energy Solutions is proud to be a pioneer within the new segment of ammonia engines but it is equally as important for us to show the world that we are moving forward cautiously in a reliable and safety-first way. Now is the time to develop the technology and we look forward to revealing our progress at the appropriate time.”

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