Continuing its fleet expansion policy Star Bulk Carriers has named and taken delivery of its 4th chartered-in Kamsarmax vessel, M/V Star Illusion, on Friday, October 11, 2024, at TSUNEISHI GROUP (Zhoushan) Shipbuilding Inc.

Pavlina Kourtzas, senior chartering colleague, participated in the naming ceremony on behalf of Star Bulk.

“We extend our sincere gratitude to everyone who contributed to the success of this project and participated in the ceremony. Together, we continue making remarkable strides in the maritime industry”, the company stated.

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TEN’s unwavering commitment to safety, operational excellence, and innovation was recognized at the prestigious annual Tanker Shipping & Trade Awards, held in London on October 22, 2024. The event included a select group of high-caliber tanker operators, all of which have excelled in elevating tanker trades as one of the safest and “greenest” means of transportation globally. Mr. Harrys Kosmatos, TEN’s co-CFO, accepted the award on behalf of all onshore and at-sea personnel, whose sheer dedication, commitment, and professionalism were instrumental in achieving this honor. Mr. George Saroglou, TEN’s President & COO, commented: “It gives us tremendous pleasure and immense pride when the unsung heroes behind a successful tanker operator receive the recognition they deserve, as they create the foundation which the rest of us are called to build upon.”

TSAKOS ENERGY NAVIGATION TEN, founded in 1993 and celebrating this year 31-years as a public company, is one of the first and most established public shipping companies in the world. TEN’s diversified energy fleet currently consists of 74 vessels, including three DP2 shuttle tankers, two scrubber-fitted suezmax vessels, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers, totaling 8.9 million dwt.

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In a shipping industry full of bright ideas on decarbonisation, measuring energy efficiency accurately may yet prove key to changing the investment dynamic between owners and charterers, according to a leading marine technology group.

Environmental Protection Engineering (EPE) Commercial Director, John Korovesis, says that owner preoccupations with the EU Emissions Trading Scheme and the IMO Carbon Intensity Index increasingly focus on endgame of how ship efficiency investments will stack up against future charterer behaviours.

Even the most painstaking attention to regulatory targets on decarbonization can be frustrated when the rules themselves are in flux, and the frameworks and reporting criteria owners work within are subject to change, Mr. Korovesis observes.

“EPE has been especially active in the field of decarbonisation for the last three years, and our priority going forward is to establish new partnerships and expand our product portfolio with new additions to help the shipping community meet the challenges of green transition. “Owners need precision from the solutions they use to enhance ship efficiency, because hard evidence is essential to prove that the value-add to ship performance deserves fair

recognition,” explains Mr. Korovesis, who has a 30-year track record at EPE. He has been integral to transforming a company with roots in making equipment for MARPOL compliance into a global supplier of leading-edge sustainable ship technologies.

“Recently we’ve seen the CII drive especially strong demand for shaft power metering, to monitor data from shafts, thrusters and generators on a continuous basis. Owners also tell us that they now factor the accurate fuel consumption figures they get from EPE AMIO Coriolis Flow Meters directly into voyage planning for CII.”

As a company offering a comprehensive new range of decarbonisation solutions, is also an affiliate to Metis, which specialises in ‘telemetry-first’ fleet performance management and is playing a key role in helping it to deliver transparency to owners on vessel performance. Metis Ship Connect enables automated data acquisition as a service to evaluate the impact of energy saving measures, and present outcomes in digestible formats, says Mr. Korovesis.

“When we propose NaviPULSE VFD (variable frequency drive) technology to optimize the performance of the auxiliary motors used in fans or cooling systems, owners want accurate data to show how gains add up to significant energy savings overall, and the way advantages accumulated with less maintenance, fewer spares and longer motor life. An owner investigating options on antifouling and impacts for the propeller or considering the cumulative impact of installing lower energy LED lighting also wants evidence not promises.”

Mr. Korovesis stresses that EPE associated company ERMA First Group ensures precision in measuring the impact of its own diversified portfolio of decarbonisation solutions - to which EPE also offers a gateway. ERMA FIRST’s FLEXCAP propeller upgrade option is “making a strong impression as a value for money option where owners are working through the consequence of the EU ETS,” he said.

The ERMA FIRST FLEXCAP draws on the boss cap fin principle, absorbing rotating water force to weaken the hub vortex and reducing torque so more energy can be channelled back as thrust. Mr. Korovesis, indicated orders have been placed to equip 40 ships with FLEXCAP, based on its proven ability to make fuel savings of 2-5%.

Other solutions include ERMA FIRST FLEXRING and FLEXFINS. The first is a duct that guides flow towards the propeller and improves propulsive efficiency by 3-7%. A further 1-3% efficiency can be recovered by installing FLEXFINS, a set of hull fins which guide flow around the hull and direct better flow to the propeller.

Measuring impact with this kind of accuracy will be vital if charterers are to start considering that their stake holding in maritime decarbonisation extends to investing in ship systems and technologies.

For EPE, it is also integral to its strategy to offer a single source service, with experts helping owners to evaluate available technologies to improve their ships efficiency index (EEXI), reduce fuel consumption and save CO2, and the service network to support installation, maintenance and troubleshooting.

“Ultimately, it is our job to help shipowners consider their options on invest in making ships greener, on improving performance and whether a specific ship is a candidate to meet tightening regulations covering carbon intensity. Where long-term charters are concerned, we are also showing that technology investments offer cumulative gains to improve CII performance, so that charterers are increasingly part of the conversation.”

Image: Environmental Protection Engineering (EPE) Commercial Director, John Korovesis

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Minerva Marine Inc. (managing 54 Oil tankers), Minerva Gas Inc. (managing 5 LNG Carriers) and Minerva Dry Inc. (managing 11 Bulk Carriers and 3 Container Vessels), have strengthened their ability to transfer data from their fleet vessels to their offices by deploying Dualog’s data transfer service Dualog Drive. With this update, all three ship management companies can now automatically send up to one million files to and from their fleet vessels every week.

The fleets of vessels managed by Minerva Marine Inc., Minerva Gas Inc. and Minerva Dry Inc. operate worldwide and as such, a fast and reliable file sharing system is considered vital to their operations. 

Minerva's daily data exchange needs include software distribution to keep all onboard systems up-to-date; shore-to-vessel Enterprise Resource Planning (ERP) database synchronisation and the ability to distribute large training video, together with having prompt access to other types of data such as videos from CCTV onboard, VDR and ECDIS Playback data. 

Ilias Vlachogiannis, Head of Fleet ICT at Minerva Marine Inc., said: “Our fleet's data flow capability required more control as it was difficult to manage and troubleshoot, with multiple manual processes both onboard and in the offices. Large files transfers were often facing interruptions making difficult their delivery on time due to connection issues. These were the key reasons we began exploring alternatives for data transfer within our fleet.”

Minerva has been using Dualog’s maritime email service for a year, and being familiar with its environment, was able to easily adopt a new file transfer tool into its fleet. Dualog developed Dualog Drive in collaboration with vessel IT teams worldwide, ensuring it seamlessly integrates into the data flow of any fleet.

Eftihia Benaki, ICT Manager at Minerva Marine Inc., commented on the first results coming through: “We saved dozens of man-hours per month due to the process being automated. Configuring and troubleshooting have become much easier because we can see all fleet transfers in one interface. We have also reduced our manual work significantly, and I believe we can still do more.”

“Because of the Dualog technology, we can transfer large files without worrying about interruptions, and we know that all files will be delivered on time. It feels like we’re always online,” stressed Ilias Vlachogiannis.

Kyriakos Papapolydorou, Regional Manager at Dualog, added: “Our objective was to reduce the pain of manual processes of data transfer between ship and shore, while safeguarding smooth operations in diverse environments. We're glad to hear that Minerva has experienced an increase in productivity in such a short period of time.”

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A large number of key players from the Greek maritime sector gathered in Athens to explore innovative solutions that support maritime climate action by the shipping industry, supported by pivotal EU regulatory measures designed to reduce greenhouse gas emissions, promote cleaner energy, and accelerate decarbonisation.

The Maritime Climate Action matchmaking event was a strategic collaboration between lomarlabs—a company focused on driving maritime innovation – and the European Innovation Council (EIC) Innovation Procurement Programme, powered by SPIN4EIC, and took place at the Old- Small Stock Exchange, hosted by the National Bank of Greece.

The EIC Innovation Procurement Programme, through its key initiative like SPIN4EIC, aims at providing support services to EIC beneficiaries, particularly SMEs and startups, to enhance their access to procurement markets across Europe and beyond.

Five EIC Beneficiary startups (bound4blue, FibriTech, OCEAN VISUALS, COLD PAD and CorPower) presented their ground-breaking technologies in a matchmaking format to prominent procurers and shipping sector representatives, following a panel discussion.

Stylianos Papageorgiou, Managing Director of lomarlabs said: “At lomarlabs we are at the forefront of innovation in the shipping industry working alongside peers to advance sustainable technologies that reduce emissions. Public-private cooperation plays a crucial role for overcoming barriers in technology development and scaling maritime innovation globally because the development of hardware technologies that combat climate change has unique financing needs that are best solved through blended finance of public-private investment. In driving mass adoption of these technologies, global maritime regulations are the great equaliser and key commercial motivator.”

The matchmaking aimed to foster networking and exchange between EIC beneficiaries and innovative procurers from the Maritime and Shipping industries. It served as an opportunity for EIC innovators to showcase their cutting-edge solutions as part of a pitch to procurers, who presented their challenges and discovered technologies that can drive the advancement of their industry.

It emphasised how sustainable practices and solutions, supported by the EU’s regulatory framework and especially the European Union’s Emissions Trading System (ETS) and FuelEU Regulations—pivotal measures designed to reduce greenhouse gas emissions, promote cleaner energy, and accelerate decarbonisation among various sectors, can transform shipping, an industry responsible for 3% of global emissions. With demand for transport set to triple by 2050, tackling these emissions is critical to global climate efforts.

Deputy Minister of Development of the Hellenic Republic, Zoe Rapti, stated during her welcome address: “As we move forward, let us embrace this opportunity to lead the transition to green shipping, ensuring that Greece remains at the heart of a more sustainable, competitive and prosperous Europe.”

In his welcoming speech, Jean-David Malo, the Director of the European Innovation Council and SMEs Executive Agency, highlighted that “EIC aims to become a Centre of Excellence on Innovation Procurement at European and global levels by supporting and enhancing the capacity of EU innovators to access procurement markets. The organization of matchmaking events is an important component of the programme, offering the opportunity to procurers of innovation to get to know cutting-edge technologies that could help them tackle challenges they are facing. This matchmaking event is taking place in an area that is key for the European economy: the Maritime and Shipping Industry. This is the first matchmaking that the EIC is organizing in this field, and it is no surprise that it takes place in Greece, a frontrunner country in shipping.”

During his video welcome, Deputy Minister of Maritime Affairs and Insular Policy of the Hellenic Republic, Stefanos Gkikas, said: “Ιf we want to make shipping’s energy transition succeed, we have to ensure the worldwide availability of safe and affordable low and zero carbon fuels. It is therefore crucial to gradually pass from the current uncertainty to a predictable environment that will guide future investments and ensure that they will reasonably pay-off”.

lomarlabs is a corporate venture lab launched by Lomar in March 2023, that provides maritime tech companies with the physical infrastructure, support, industry insight, expertise and funding αthey need to responsibly test, prove and commercialise their solutions; catalysing their entry into a market that’s rapidly evolving.

It draws on nearly five decades of operational innovation at Lomar to accelerate the deployment of deep technological solutions, with a view to solving the maritime industry’s biggest challenges. lomarlabs current catalogue of projects includes Alicia Bots, Bennu, Calcarea, CargoKite, Seabound and Turtle.

Lomar is a leading ship owner and ship management group with a diversified fleet of around 25 bulk carriers and chemical tankers. Lomar has nearly 50 years of industry expertise, its fleets having moved millions of tonnes of cargo annually.

In October 2022 Lomar continued to diversify with the acquisition of the Bremen-based Carl Büttner Holding GmbH, a 166-year-old shipowner and manager of oil product and chemical tankers, in a deal with an enterprise-value of close to US$160 million, which has since been rebranded as CB Tankers. It included the acquisition of CB Maritime in Rijeka, Croatia, a specialist crewing agency. Lomar is a maritime subsidiary of Libra Group, a privately-owned global business group that includes 20 businesses predominantly focused on aerospace, renewable energy, maritime, real estate, hospitality, and diversified industries. With subsidiaries that own and operate assets in nearly 60 countries, the Group applies the strength of its global network and capabilities to deliver cross- sector insights and growth at scale.

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This year’s meeting was the largest gathering of TEN’s associates & partners that took place amidst an excellent freight rate market.

As Dr. Nikolaos P. Tsakos, Founder and CEO of TEN Ltd. said: “2024 was a milestone year for TEN in terms of profitability and the creation of the first Maritime Academy in Chios.

Mr. George Saroglou, President and COO of TEN Ltd. gave a short overview. He pointed out that TEN follows a crisis resistant growth model spanning four decades. Due to the stewardship of the company’s personnel and the dedication of the seafarers onboard the company has expanded tremendously taking advantage the opportunities of the market.

TEN has created a diversified fleet, secured revenues and green ship growth. It has divested 13 older vessels since 1/1/2023 and has replaced them by taking delivery of 21 highly sophisticated vessels contracted/acquired.

TEN has achieved also solid performance and healthy liquidity key factors which are keys to the fleet expansion. 2024 total dividend payment amounts to $1.70 per common share.

Mrs. Venetia Kallipolitou, Department HR & Training Manager- Tsakos Group, referred to the establishment of Tsakos Nautical Academy in Chios which is incorporated with the Administration of Cyprus Deputy Ministry of Shipping. The cadets are fulfilling strict criteria to enter the Academy and the next plan is to introduce a program of developing ETO (Electromechanical Cadet Officers) following the motto “Sea is our limit”.

They follow a three year training program including one year ship service and two years academic training.

The event was addressed by Ambassador George Tsunis who praised TEN for adopting best business practices with an unprecedented course the last 30 years in the NYSE.

TEN represents the two countries’ Greece & US strong ties in the commercial and shipping sector.

Mr. Tsunis expressed his deep respect to the Tsakos family for its great social and philanthropic contribution. 

In the Annual Strategy Meeting of Tsakos, Dr. Maria Vassalou, Director of TEN Ltd. and former Associate Professor of Finance at Columbia Business School, Professor Angelos Kallipolitis and Fotini Angellopoulou, from Clarksons presented some very critical topics regarding the debt sustainability in the world’s financial architecture, putting together prices of equity valuation and Tanker Martex Outlook.

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Marking the association’s 50th anniversary with a memorable programme WISTA International AGM and Conference 2024, which took place 9–11 October in Limassol, Cyprus with three new national associations, the announcement of a new Equity Fund and a broadening of objectives.

Bringing together over 350 delegates from all sectors of maritime, trading, and logistics, the event was notable for being the first WISTA conference attended by a national leader, with Nikos Christodoulides, President of the Republic of Cyprus, delivering the first keynote address.

Highlighting the strong contribution shipping makes to the Cyprus economy, Christodoulides described gender equality as “an integral part of sustainable growth”, and WISTA’s mission to promote diversity and women’s leadership as “vital”. He also acknowledged that WISTA Cyprus had contributed to consultations behind his government’s National Strategy on Gender Equality 2024-2026.

Shipping Deputy Minister Cyprus Marina Hadjimanolis, who was also among the speakers, will work with the Commissioner for Gender Equality on a new study of gender ratio, trends, needs and challenges in order to crystallise future government action on equality and inclusion.

In her own speech, Hadjimanolis observed that the “WISTA family transcends beyond borders, nationalities or religion”. She commended “a force of passionate and dynamic women, working tirelessly for gender equality and the global empowerment of women in shipping”.

International Maritime Organization Secretary General Arsenio Dominguez offered an inspiring keynote, focusing on the need for shipping to demonstrate change, which he advocates not only in his words but by refusing to speak on panels comprised solely of men.

WISTA International President Elpi Petraki described this as a “shining example of leadership that set a powerful precedent for others to follow”. In an uplifting and wide-ranging keynote, Petraki spoke of her pride regarding WISTA’s impressive recent growth – now standing at 5,200 members globally – and explained how the association’s goals have evolved since its inception in 1974.

She said: “Our initial aim to attract, support, and empower women in the maritime, trade, and logistics sectors remains at the heart of our mission, but now we have our sights set on broader objectives. In continuing to foster environments that uphold DEI, we contribute to the global push for sustainable shipping for the sake of future generations.”

The broadening of its mission should not be mistaken for a change of direction, she emphasised. “Our aim is to build bridges that create synergies across all genders, ethnicities and cultures. Our annual conferences are a celebration of our unity and achievements to date by the women, and men, who are driving change across the sector.”

Opening the WISTA International conference, Natalia Bury Loyal, President WISTA Cyprus, said the event marked “half a century of empowering women in the maritime industry, championing diversity, and advancing equity in shipping and trade. This is truly a moment for celebration, reflection, and looking forward to our shared future.”

The potential for wider change across the sector was clear from a conference agenda which this year took as its theme Excellence in Maritime and International Trade Driven by Innovation and inspired a series of thought-provoking panel discussions. Highlights included Innovative Horizons: Pioneering Technologies Transforming the Maritime and Trade Industries, a panel on Anchoring Global Maritime and Trade Excellence – the Human Element at the Heart of Innovation, and a session titled Financing the Future, Navigating the Energy and Technology Transition in maritime.

In a session titled Sea of Change: The Impact of Socioeconomic Turmoil and International Regulations on Innovation in Maritime and Trade, Guy Platten, Secretary General of the International Chamber of Shipping, also pointed to the 90,000-seafarer shortfall in the maritime workforce.

This year’s event officially welcomed three new National WISTA Associations (NWAs) to WISTA International, with the addition of representation from Honduras, China, and Costa Rica bringing the total number of member organisations to 62. WISTA International also formalised a new NWA Equity Fund to offer support to members in countries affected by financial or other challenges.

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Shipping’s largest awards event, the Lloyd’s List Greek Shipping Awards, is accepting nominations for the 2024 awards as it prepares once again to put the spotlight on some of the industry’s leading individuals and companies.

Established back in 2004, the event annually celebrates the achievements of Greek shipping and the Greek maritime cluster at the traditional end-of-year awards presentation dinner In Athens.

Each year, the Greek Shipping Awards attracts capacity audiences of hundreds of guests and the 21st edition of the awards is expected to be no different.

Strong support for this year’s Awards is led by Event Sponsor NEPTUNE MARITIME LEASING, Champagne Toast Sponsor CMB FINANCIAL LEASING and ALLEGIANT (Shipping) which is sponsoring the Welcome Drinks Reception for guests. A roster of prestigious Greek and international companies have sponsored the individual awards.

Nominations are coming in as the deadline for entries for the 2024 awards nears. Nominations must be received by the organisers before midnight, Greek time, on Friday, October 18 in order to be accepted.

Once again, a prestigious and highly knowledgeable panel of judges from across the industry will assess all nominations and will decide the winners of this year’s Awards.

The panel, broadly representing the Greek shipping industry, will be tasked with choosing ‘the best of the best’ in a range of categories that span the full gamut of Greece’s shipping industry – from the dry cargo, tanker and passenger line sectors - to achievements in safety, sustainability, technology, shipbroking, finance and more. There will be excitement, too, in learning the judging panel’s choice of winners for prestigious individual awards such as Personality of the Year, Seafarer of the Year, the Lifetime Achievement Award and the Next Generation Award.

This year sees the launch of a new award, the first completely new category added to the event for several years. The ‘Deal of the Year’ Award will focus on outstanding transactions over the previous year. It follows the success of ‘Deal of the Decade’ awards offered twice in the event’s 20-year history, in 2013 and 2023.

All the 2024 award-winners will be unveiled at the 2024 gala awards dinner on Friday, December 6 in Athens.

Event Sponsor: Neptune Maritime Leasing

Welcome Drinks Reception: Sponsored by Allegiant Shipping

Champagne Toast: Sponsored by CMB Financial Leasing

2024 Award Categories

Dry Cargo Company of the Year: Sponsored by Marichem Marigases

Tanker Company of the Year: Sponsored by Bureau Veritas

Passenger Line of the Year: Sponsored by SWS

Shipbroker of the Year: Sponsored by the Tsakos Group

Shipping Financier of the Year: Sponsored by Tototheo Maritime

Piraeus International Centre Award: Sponsored by ClassNK

Technical Achievement Award: Sponsored by DNV

The Safety Award: Sponsored by Seajets

International Personality of the Year: Sponsored by Capital Ship Management Corp.

Ship of the Year: Sponsored by ABS

Award for Achievement in Education or Training: Sponsored by Shipping Deputy Ministry, Republic of Cyprus

The Sustainability Award: Sponsored by Lloyd’s Register

Deal of the Year: Sponsored by Timagenis Law Office

The Next Generation Shipping Award: Sponsored by IRI / The Marshall Islands Registry

Lloyd’s List Intelligence Big Data Award: Available for sponsorship

Lloyd’s List / Propeller Club Lifetime Achievement Awardl Sponsored by Franman

Greek Shipping Personality of the Year: Sponsored by Eurobank

AWARDS NOT OPEN TO OUTSIDE NOMINATIONS

Seafarer of the Year: Sponsored by Safe Bulkers, Inc.

Greek Shipping Newsmaker of the Year: Sponsored by LPC S.A.

Lloyd’s List Greek Shipping Awards introduces new ‘Deal of the Year’ prize

New award category sponsored by Timagenis Law Firm

The Lloyd’s List Greek Shipping Awards is pleased to announce the launch of an exciting new category of award: ‘Deal of the Year.’ 

The award marks the first new category added to the shipping industry’s favourite annual awards for several years. It follows the success of the ‘Deal of the Decade’ award, offered twice in the event’s 20-year history. These special awards, presented in 2013 and 2023, were won by Angeliki Frangou and Evangelos Marinakis, respectively.

The new annual award is being supported by the Timagenis Law Firm and will make its debut at the Greek Shipping Awards 2024, presented this year on December 6 at the annual gala dinner held in the Athenaeum InterContinental Hotel.

Timagenis, one of the original supporters of the Lloyd’s List Greek Shipping Awards when they were first launched back in 2004, also sponsored the most recent ‘Deal of the Decade’ Award last year. Timagenis commented: “We are honored to sponsor the inaugural ‘Deal of the Year’ award category. As a firm committed to excellence in maritime law, we are proud to recognise and celebrate the outstanding achievements and innovative transactions shaping the future of Greek shipping.”

The awards are adjudicated by a judging panel of leading personalities representing Greek shipping and the wider Greek maritime cluster. The annual Deal of the Year Award will go to the person or company adjudged by the panel to have done the most successful and impressive single transaction in Greek shipping over the preceding year. A series of transactions may be considered by the judges if circumstances warrant. Transactions that have not yet closed may not be considered.

Any kind of business deal within the maritime sector may be nominated, including but not limited to mergers and acquisitions, joint ventures, sales and purchases, or the conclusion of a very successful financing or very profitable charterparty. Wherever possible the exceptionality of the deal should be illustrated by identifying the benefits and advantages to the party to the transaction, or its expected benefits.

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The ESG Shipping Awards 2024 THE CONFERENCE, a landmark event for the maritime industry's ESG leaders, successfully concluded on October 18th, 2024, at the Ble Pavillon in Alimos, Athens. The conference brought together over 350 key industry leaders, experts, and stakeholders from around the world, serving as a vital platform for knowledge sharing and advancing sustainability efforts within the shipping sector.

Helena Athoussaki and Katerina Stathopoulou, principal organizers of the ESG Shipping Awards, opened the event by expressing gratitude to the award winners from last May's Ceremony for participating and sharing their achievements. The conference fostered discussions on challenges, future opportunities, and essential partnerships, highlighting the importance of collaboration in advancing ESG principles within the shipping industry.

The event commenced with opening remarks from Mr. Manolis Koutoulakis, Secretary General of the Ministry of Maritime Affairs and Insular Policy, who highlighted the rapid transformation of ESG reporting and sustainability into concrete and essential components of the shipping industry's new business model.

Dr. George Pateras, President of the Hellenic Chamber of Shipping (HCS), stressed the need to focus on feasible, science-based solutions instead of engaging in greenwashing. He noted that ESG has fortunately taken the right path, emerging as a valuable tool for genuine self-assessment and peer accountability.

In her keynote speech Mrs. Lillian Georgopoulou, Deputy Chief Listings Officer of the ATHEX Group, emphasized the importance of sustainable financing and identified green bonds as a key tool for investments in cleaner technologies and fleet retrofitting, allowing companies to access a broader pool of sustainability-focused investors and potentially lower their cost of capital. “At the Athens Stock Exchange, we remain firmly committed to supporting companies in financing their green transition. By providing access to sustainable capital and promoting ESG principles, we aim to play a pivotal role in helping businesses, including those in the maritime industry, achieve their sustainability goals while contributing to a more resilient and responsible global economy” she stated.

Insightful presentations and panel discussions:

1. Mr. Nikolaos Athanasoulis, Senior Manager of Climate Change and Sustainability Services (CCaSS) at EY Greece, presented a comprehensive overview of stakeholder perspectives on ESG performance, underscoring the vital importance of corporate sustainability reporting directives (CSRD) in integrating financial performance with environmental considerations.
2. Ms.Despoina Joanna Petsiou, Products Division Director at BPCO LTD Green Technologies, presented two key technologies for maritime decarbonization: rotor sail wind-assisted propulsion (WASP) and carbon capture systems (CCS) and how these technologies offer practical solutions for achieving future regulatory compliance and advancing maritime sustainability.
3. Mr. Filimon Antonopoulos,Managing Director Tallon Commodities Ltd., highlighted the importance of effective management of carbon emissions, advocating for forward-looking investment strategies in carbon allowances, especially given the belief that carbon prices will continue to rise.
4. Mr. Paul Tours, Senior Solution Consultant, Enablon, Wolters Kluwer EHS & ESG, deliveredan insightful presentation on ESG reporting, highlighting key areas such as effective data collection, stakeholder engagement, and transparency. He emphasized that ESG reporting is not a short-term sprint but a long-term marathon, pointing out that sustainability has a direct impact on financial performance and global competitiveness.

The Conference featured Panels that showcased Best Practices and facilitated Dynamic Discussions on the Key Challenges confronting the maritime industry.

• ·The "Leading ESG Strategies"panel featured a fireside chat with Angela Stark, Senior Vice President at Norwegian Cruise Line Holdings Ltd., the Gold ESG Leader Award winner, who outlined the company's decarbonization strategy focusing on efficiency, innovation, and collaboration. She highlighted the cruise line's community impact program aimed at fostering meaningful guest interactions with local communities, emphasizing the importance of thoughtful engagement and conducting a double materiality assessment to address community concerns. Kitty Mok, Director of Risk at Pacific Basin Shipping Limited and Silver ESG Leader Award winner, shared insights into her company's fleet renewal strategy, prioritizing dual-fuel and low-emission vessels. She underscored the significance of responsible governance, utilizing a three lines of defense model to ensure effective risk management across all levels of operations.
• ·Moderated by Mr. Ralf Garrn, Managing Director of OceanScore GmbH,the "Climate Change & Environmental Evolution" panel featured Mr. Stergios Stergiou, Capital Group, Dr. Vasileios Kosmas for Carnival Corporation & plc, Mr. Avraam Gelegenis, Diana Shipping Services S.A., Mr. Dimitris Solomonides, Lemissoler Navigation Co. Ltd., and Michael Blanding & Sylvain Julien representing Berge Bulk. The panelists shared insights into innovative decarbonization strategies, including the adoption of dual-fuel technologies, carbon capture initiatives, and sustainable fuel alternatives such as LNG, ammonia, and biofuels. Discussions focused on the challenges and opportunities in setting ambitious emissions reduction targets, navigating regulatory frameworks, and implementing energy-efficient technologies, highlighting the maritime industry's commitment to achieving net-zero emissions through innovation, collaboration, and strategic investments.
• ·Moderated by Dr. Nikolaos Liapis, President of the Hellenic Institute of Marine Technology,the "Technology & Partnerships" panel featured distinguished experts from the shipping industry, including Vasileios G. Petousis, Seanergy Maritime Holdings Corp., Dr. Vasileios Kosmas for AIDA Cruises, and Gregory Spourdalakis, Columbia Group. The panelists discussed transformative projects such as the SafeCraft hydrogen retrofit initiative, aimed at reducing carbon emissions by retrofitting existing vessels to utilize hydrogen as a fuel source, and AIDA Cruises’ battery energy storage system, which enhances energy efficiency and supports sustainable operations. The panel illustrated the critical role of strategic partnerships in overcoming technological barriers and the importance of innovative digital tools like EngineLink for emissions reduction. The conversation emphasized that collaboration between academia, industry, and regulatory bodies is essential for the shipping industry to thrive in its sustainability journey and achieve ambitious net-zero targets by 2050.
• ·In the panel discussion titled "Social Leadership," moderated by Mr. Konstantinos Oikonomou,CEO of Marine Tours, Cpt. Dimitris Agrimis, Navios Maritime Partners L.P. emphasized the company's commitment to achieving zero incidents through a human-centric approach, highlighting comprehensive training programs and tailored mental health support for over 4,000 crew members. Mr. Artemios Alifragkis, Atlantic Bulk Carriers Management Ltd., reinforced the crucial role of the human element in shipping and advocated for upskilling and collaboration with industry partners. Dr. George Baltas, Chandris (Hellas) Inc., shared his vision for leaving a legacy of sustainable practices and ethical leadership through ESG initiatives, while Mr. Mike Bradshaw, Fleet Management Limited, introduced the behavioral-based safety (SafeR+) program, promoting proactive safety culture through gamification and rewards. Ms. Efi Smyrlaki, Laskaridis Shipping Co. Ltd., highlighted the company's innovative use of an interactive wellness platform and advanced 3D scanning technology to enhance crew training effectiveness and retention rates, demonstrating a strong commitment to workforce wellbeing.
• ·The fifth panel discussion focused on "Diversity, Equity, and Inclusion (DEI)" in the maritime industry, featuring contributions from key figures like Mr. Stathis Theofilou, Bernhard Schulte Shipmanagement, who discussed initiatives such as cross-mentorship programs aimed at increasing female representation in leadership roles, resulting in a notable 31% representation on their management board. Mr. Evangelos Sfakiotakis, Diana Shipping Services S.A.  highlighted the All-Aboard Alliance initiative, emphasizing the need for equal opportunities for all genders onboard vessels and the company’s existing commitment to women in leadership roles, including a 40% female presence in their organization. Mr. Gregory Spourdalakis, Columbia Group, shared insights on their female cadet program, showcasing mentorship strategies that not only support women but also foster an inclusive culture for all employees, reflecting significant productivity and engagement benefits. Throughout the discussion, the moderator emphasized the challenges of overcoming male-dominated industry norms, advocating for greater awareness and support for female seafarers. The consensus among the panelists was that fostering an inclusive environment not only benefits individual careers but also enhances operational excellence and innovation within the shipping sector.
• ·An inspiring sixth panel discussion about Community Engagement and Youth Empowerment in Shipping featuring key industry leaders. Ms. Venetia Kallipolitou, Tsakos Energy Navigation Limited, shared her passion for nurturing young talent through initiatives like the Maria Tsakos Academy and the TEEN Nautical School, emphasizing their role in shaping the next generation of maritime leaders. Alongside her was Ms. Lydia Stathi, Latsco Shipping Limited,who highlighted her company's dedication to fostering sustainable practices through internships, scholarships and community engagement. Moderated by Mr. Yofis Florentin Founder and CEO of Learning Seaman, the panel addressed the importance of mentorship and collaboration within the shipping industry, showcasing various successful initiatives designed to bridge the gap between education and employment opportunities. Together, they exemplified the collective effort required to build a robust maritime future, empowering the youth to take on leadership roles and innovate for a sustainable tomorrow.
• ·In the last panel discussion moderated by Mr. Costas Constantinou, Managing Partner, Global Shipping Leader at Moore Greece, Ms. Erifili Tsironi, Navios Maritime Partners L.P. emphasized the importance of a majority-independent board and dedicated committees for audit and compensation. Ms. Georgia Fardellou, Starbulk Carriers Corp.noted the establishment of an ESG committee and highlighted that "we have one KPI related to one of the environmental goals, which directly influences bonuses for board members and employees, encouraging performance."  Ms. Korinna Tapaktsoglou, Pioneer Marine underscored the need for compliance with best practices and open communication to build trust within the organization.

The conference concluded with closing remarks from Mr. Jan Fransen, Chairman of the Judging Committee, who reflected on the pivotal role of the ESG Shipping Awards in promoting sustainability in the maritime industry.

The announcement of the ESG Shipping Awards 2025, scheduled for 23 May 2025, was made at the closing of the event, with applications set to open on 9 December 2024 and remain open until 7 March 2025.

Special thanks were given to the event planner, Stelina Markoulaki from Digital Shadows, her team, and partners for their efforts in making the conference a success.

Scholarship Initiative

Additionally, the Principal Organizers announced this year's Community Contribution: Ten scholarships for an ESG executive seminar provided by the Institute of Chartered Shipbrokers (ICS) and the National & Kapodistrian University of Athens (EKPA). The aim is to foster industry professionals equipped with sustainability knowledge.

Sustainability Actions

Furthering its dedication to transparency and climate action, the ESG Shipping Awards partnered with Emicert to measure and verify the Awards Ceremony & Gala Dinner’s carbon footprint, ensuring accountability in its efforts towards meaningful climate action.

Live Polls

Throughout the conference, attendees participated in live polls that shed light on the maritime industry's current landscape and future prospects. The results revealed mixed confidence in the shipping sector's ability to achieve net-zero emissions by 2050, highlighting both significant challenges and emerging opportunities. There was a strong consensus around Liquefied Natural Gas (LNG) as the primary fuel for the future, with growing support for nuclear energy, while interest in biofuels and methanol also emerged. However, concerns regarding the lack of global infrastructure and supply chains were identified as major obstacles to adopting alternative fuels, compounded by high costs. Poll results indicated a predominant expectation for EUA prices to range between €75 and €90 in the coming year, with many anticipating a drop to €60 to €75. Attendees expressed strong skepticism about unmanned vessels becoming the norm within the next decade. Finally, there was an overwhelming agreement that transparency and accountability are the foremost challenges facing governance in the shipping industry today.

Testimonials from Speakers

 “We were thrilled to have the opportunity to share NCLH’s Sail & Sustain sustainability journey at the ESG Shipping Awards 2024 International Conference. Collaboration will be the key to accomplishing our sustainability goals and this opportunity to connect with others in the shipping industry, celebrate our successes and communicate our challenges was invaluable.”

Angela Start, SVP, Assistant General Counsel, Securities, Sustainability & Compliance at Norwegian Cruise Line Holdings Ltd.

 ‘‘At the Athens Stock Exchange, we remain firmly committed to supporting companies in financing their green transition. By providing access to sustainable capital and promoting ESG principles, we aim to play a pivotal role in helping businesses, including those in the maritime industry, achieve their sustainability goals while contributing to a more resilient and responsible global economy.”

Lillian Georgopoulou, ATHEX Group, Deputy Chief Listings Officer

 ‘‘Who says shipping is a male-dominated industry? ESG is clearly changing the landscape, with around 50% of the attendees being women. I had the pleasure of meeting many young, passionate leaders who view shipping as a career path and see ESG as an essential part of its future.”

Ralf Garrn, Managing Director, OceanScore GmbH

"Extremely interesting ESG topics for discussion organized with excellence!"

Dimitris Solomonides, Chief Technical Officer, Lemissoler Navigation Co. Ltd.

"Our participation in the ESG Shipping Awards 2024 International Conference give us a firsthand opportunity to engage with industry leaders, share best practices, and showcase our unwavering commitment to ESG Principles."

Korinna Tapaktsoglou, Managing Director / CFO, Pioneer Marine

 “It’s been a great honor to have participated in the ESG Shipping Awards 2024 – THE CONFERENCE and to moderate the panel on Social Leadership. This event is a vital platform for the shipping industry, driving meaningful discussions on sustainability and responsible leadership.”

Konstantinos Oikonomou – CEO Marine Tours

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