Stefanos Papandreou & Theano Kalapotharakou report from Hamburg

With the participation of a considerable number of ships’ equipment manufacturers from Greece, SMM Hamburg 2022 returned back more actively after a four-year break due to the Covid-19 pandemic.
The co-publishers of ELNAVI Stefanos Papandreou and Theano Kalapotharakou visited SMM to cover the commercial activities of the leading international and Greek ship’s equipment manufacturers and service providers.
The participants of the exhibition were focused on the following critical topics: Supply chain disruption, alternative propulsion technologies, e-fuels – political and business leaders discussed current challenges facing the shipping industry.
Their conclusion: Shipbuilding companies and suppliers are ready for the Maritime Transition – and SMM is about to provide valuable input on how to accomplish it.
Featuring high-profile speakers, SMM press conference marked the kick-off for four intriguing days. Bernd Aufderheide, President and CEO, Hamburg Messe und Congress GmbH, was delighted to note that the entire exhibition campus is occupied, and face-to-face interaction is finally possible again.  The Hamburg Messe CEO had invited top-flight guests to discuss the core theme of this SMM, the Maritime Transition:
• Claudia Müller, the German Federal Maritime Coordinator
• Dr Uwe Lauber, CEO, MAN Energy Solutions
• Lars Robert Pedersen, Deputy Secretary General, BIMCO
• Steve Gordon, Managing Director, Clarksons Research
• Wolfram Guntermann, Director Regulatory Affairs, Hapag-Lloyd AG
Closed-off ports, overstretched supply chains, crew change challenges – Covid-19 kept a tight grip on the world over the past two years. Moderator David Patrician asked Steve Gordon, Managing Director at Clarksons Research, whether Covid had caused the Green Agenda to slip out of the the shipping industry’s focus. He said: “The shipping market remained remarkably resilient during Covid.” A look at the global orderbooks reveals that shipyards are fully booked for the next two to three years, he continued. “The share of new orders for ships with alternative propulsion systems is above 40 per cent,” including many newbuilds designed to operate on LNG, he said. While methanol is a big topic, Gordon pointed out, shipowners by and large are still rather hesitant when it comes to e-fuels. “We are just at the start of a huge fuel transition, with a fleet renewal programme that will require massive investment, technology change and innovation”.
The CEO of MAN Energy Solutions Dr. Uwe Lauber said the maritime transition is technically possible today. “The good news is: Regulatory framework provided, shipping can be green and not emit any more CO2 after 2045.  However this might still not be fast enough to stay in line with the Paris agreement. Industry growth alone will lead to a massive emissions overshoot on our way to 2045, if we do not act now.”
But what good is all this technology to shipowners if there isn’t enough fuel, asked Lars Robert Pedersen. According to the Vice Secretary General of BIMCO, the lack of sufficient energy resources is a massive problem. “Availability of sustainable energy for the transition is both the question and the answer to decarbonisation of shipping – and all other sectors of society as well. The scale is monumental. While sustainable energy is being scaled up, shipping should not wait but pursue all avenues to improve the efficiency of the fleet”.
Claudia Müller, the German Federal Maritime Coordinator, promised government support to the maritime sector.   “For shipping and beyond, the question we have to keep asking ourselves is this: Which energy source is best-suited and most efficient for specific applications?”, Müller asked.
“Retrofitting programmes are key to the environmental performance,” said Wolfram Guntermann, Director Regulatory Affairs at Hapag-Lloyd AG. At the world’s fifth-largest container shipping company this means retrofitting highly efficient propellers from the German manufacturer MMG (Mecklenburger Metallguss GmbH).
This example demonstrates that the shipping industry is on the right path despite many open questions about future fuels. Bernd Aufderheide was confident that SMM will deliver the right impetus for the maritime energy transition.
SMM was officially opened by its honorary patron, Chancellor Olaf Scholz, in a video message. Scholz underlined the importance of the maritime sector saying: “’That ship has sailed’ (is a phrase) we often use to mark a lost opportunity. He also pointed to the important role of shipping in transporting alternative fuels such as methanol and hydrogen. All these topics are highlighted at SMM.

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Although StealthGas currently operates 8 vessels less than the 2nd quarter of the last year, the company has reported the best results in over a decade.

More specifically Nasdaq listed company StealthGas Inc. for the 2^nd quarter and 6 months of 2022 reported improved revenues of $40 million with 34 vessels at the end of Q2 22’ compared to 42 vessels for the same quarter of last year, net Income of $12.2 million for Q2 22’ UP 650% compared to 2021 corresponding to an EPS of $0.32 compared to Net Income of $1.6 million. 

About 62% of fleet days are secured on period charters for the remainder of 2022, with total fleet employment days for all subsequent periods generating approximately $72 million (excl. JV vessels) in contracted revenues.
The company also announced the profitable sale from the joint venture of the Eco Nebula to a third party and expects that the net proceeds from the sale after debt repayment will be distributed to the partners.
In July 2022, 

StealthGas also entered into an agreement for the acquisition of two 40,000cbm newbuilding Medium Gas Carriers for a capital expenditure of circa $120 million. The vessels are under construction in Korea and are expected to be delivered in Q3 23’ and Q4 23’ respectively.

Board Chairman Michael Jolliffe commented: “Following the strategic decision to become a pure operator in the broader LPG market, this was the second quarter that the Stealthgas fleet consisted of only LPG carriers of various sizes achieving most profitable six months for our company for over a decade. During the second quarter there was robust demand for our LPG vessels. All vessel sizes in our fleet showed improving results and particularly the handysize vessels boosted our bottom line. The EPS for the six months was $0.52 while our stock currently trades below $3.00. We will continue our chartering strategy placing our vessels on period charters, and while the summer months are usually quieter in terms of activity and we have seen more spot activity we expect that we will find increasing opportunities in the coming months for period charters.

While we are optimistic for the LPG shipping market, we recognise that we continue to operate in a challenging geopolitical environment where issues are being perpetuated. As of late inflationary pressures have been a concern of ours, and we have managed to contain cost pressures for the time being. We have started seeing the impact from interest rises although these have been somewhat moderated from the interest rate hedges we have entered and the historically low debt levels we maintain at this point. As we have noted in the past we maintain a healthy capital structure that allows for investments and moderate fleet renewal for example with the two newbulding medium gas carriers that we expect to take delivery of next year. It is important that we maintain a modern high quality fleet that allows us to offer our services with reliability and safety to our customers”.
StealthGas Inc. has a fleet of 40 LPG carriers, including six Joint Venture vessels in the water, and three 40,000 cbm newbuilding Medium Gas Carrier (one owned through Joint Venture) to be delivered by the end of 2023. These LPG vessels have a total capacity of 465,510 cubic meters (cbm).

As most in the industry are aware, when a vessel is alongside heavy objects from the Engine Room (E/R) may be transported to shore through the E/R hatch by using the provision crane.  For conventional Bulk Carriers and Tankers this E/R hatch is located at about amidship, between the accommodation and E/R casing, and its’ dimensions are such that the largest objects from the E/R may pass freely through this hatch opening.  When it is necessary for the hatch to be opened, the hatch cover of the E/R hatch, after being unbolted, is lifted, and placed aside by either an electro-hydraulic or electric Provision Crane, or by a Gantry Provision Crane. Each of the above-noted types of provision cranes are normally powered by the auxiliary diesel engine generators located in the E/R through the main switchboard (MSB). To illustrate how the hatch may play a pivotal role in the extinguishing of a fire in the E/R, it would be useful to note the following scenario.

In this scenario a vessel is alongside, and the E/R hatch has been opened due to the need to transport certain items from the E/R to shore. Also assume that, for some reason, a fire has started in the E/R, which is too large to be put out by the portable fire extinguishers used by the crew, or to be suppressed by the automatic/manual fire extinguishing system (FLAFES).  In such a situation, the responsible officer will visit the “Fire Control Station” and activate each of the available systems in place for the suppression and extinguishing of the fire in the E/R.  Initially the siren will be activated in the E/R and the E/R personnel will be evacuated. Additionally, the dampers will be closed, fans will be stopped, F.O. & L.O valves will be closed at the corresponding tanks, and lastly, the fixed fire extinguishing system (Foam, Water-Spraying or CO₂ systems) will be released into the E/R, so that the fire can be suppressed and extinguished.  It is to be noted that the operation of diesel engines, auxiliary boiler(s) and the incinerator will have been stopped as well, and the MSB is no longer being supplied by power. Since the Provision Crane is being supplied through the MSB it will also remain inoperable. The emergency generator, which will have started automatically, will supply power to the emergency switchboard (ESB) only.

It is critical to note here that while employing the means necessary to extinguish the fire the E/R hatch is still open and cannot be closed because the Provision Crane cannot be operated. This is due to the absence of electrical power at the MSB, as stated previously.  The open E/R hatch will, in fact, allow fresh air to enter the E/R and further fuel the fire, which will hinder the extinguishing of the fire, as well as allow a part of the dispensed CO₂ to escape into the atmosphere.

It is these reasons stated above (entrance of fresh air into the E/R and some of the CO₂ escaping), that can contribute to degrading the ability to suppress and extinguish of the fire, and thus the overall safety and condition of the vessel.

A simple, yet proactive, remedial action, that would allow the E/R hatch to be closed, and prevent the above dangerous situation from transpiring, is to request from the Shipyard, during the New Construction stages of the “Specification Review” and “Plan Approval”, to modify their design and rearrange the power circuits of the Provision Crane to be fed from the ESB, rather than form the MSB.  This means that the Provision Crane, if powered by the ESB rather than the MSB, would remain operable in case of fire in the E/R, and allow the E/R hatch to be closed. This would thus minimize the risk of not being able to suppress and extinguish the fire effectively and prompt further harm to the vessel.

Even though the Rules and Regulations state that all openings to the E/R during a fire must be closed, shipyards, unfortunately, do not yet follow this procedure as a norm, primarily because they have not yet focused on this issue.

It should be noted, however, that this argument has recently been pointed out to some shipyards, who have accepted the above noted reasoning for their newer vessels under construction and have modified their design. This has contributed to the reduction of the potential for fires to spread on a larger scale on these vessels and may contribute to the production of safer vessels overall in the future. 

In closing, these arrangements/re-designs (i.e., rearranging the power circuit of the Provision Crane to be fed through the ESB) can also be considered and applied to existing vessels. Such a modifications will, of course, bear an additional cost, albeit worth the reduction of risk and potential damages.

*Mr John Marinos is an well experienced technical expert, member of the Marasco Marine Ltd, Advisors Board. More details about John’s CV can be found at https://www.marasco-marine.com/board/

Neptune Maritime Leasing Ltd. joined HELMEPA as Associate Member. Harris Antoniou, Founder and Managing Director at Neptune Leasing, said: “We are delighted to have joined HELMEPA during 2022, a milestone year for marine environmental protection celebrating its 40^th anniversary. It was in 1982 that Greek shipowners and seafarers joined forces in an unprecedented move, as the environmental challenges were not as imperative as they are today, in a collective desire and voluntary commitment to pass on to future generations a clean and healthy marine environment. During these 40 years of proactive action and positive impact in the field, HELMEPA has grown into a multi-stakeholder sustainability platform with a membership comprising of 2,000 merchant vessels, 14,000+ seafarers and 240 shipping companies and organizations in Greece and abroad.

At Neptune Leasing we are very keen to finance a variety of transformative projects that will bring a positive environmental impact. We firmly believe that our leasing solutions will assist owners achieve their growth plans in this exciting market.”

About Neptune Maritime Leasing

Neptune Maritime Leasing is a growth-oriented maritime leasing platform with the mission to providing shipowners with access to a flexible financing tool in today’s capital restricted market and investors with secure access to an under-invested asset class with attractive real yield. Our strategy is to buy high quality assets at attractive prices and build a portfolio of long-term contracts through sale and leaseback transactions in diverse maritime sectors. We are committed to delivering attractive, long term, risk-adjusted, and responsible returns to our investors, by advancing global trade and economic growth through supporting the maritime industry responsibly, and by making a positive contribution to the environment and to society as a whole.

About HELMEPA

HELMEPA is the Hellenic Marine Environment Protection Association; the pioneering voluntary commitment of Greek seafarers and ship owners to safeguard the seas from ship-generated pollution, undertaken in Piraeus, on June 4, 1982. Under the motto “To Save the Seas”, they have consistently supported their initiative to date.

Website: https://www.helmepa.gr/en/

Attica Group in cooperation with Inmarsat - world leader in global satellite communications - and Thetius - digital consultant - have announced the e-learning technology and service provider Marine Learning Systems (MLS) as the winner of the inaugural «Inmarsat Ferry Open Innovation Challenge: Crew training and entertainment». The announcement was made at the Smart Maritime Network conference which took place on 30th March 2022 in Athens. Marine Learning Systems has secured a £10,000 cash grant to fund the pilot implementation of its end-to-end seafarer training solution on board Attica Group vessel SUPERFAST XI operating between Italy and Greece.

Focusing on the needs of ferry crews, the competition was launched in January 2022, inviting start-ups and SMEs to propose digital solutions with a view to enhance training and offer quality leisure time to marine personnel who spend considerable time at sea. Applicants were asked to offer solutions for improvement in the following areas:

• Ship familiarization for new crew members
• Crew training on safety issues and regulations
• Crew training on customer services offered on board
• Quality leisure time

Entries submitted were evaluated by a committee consisting of Inmarsat, Attica Group and Thetius executives. Comprising the LMS learning platform and SkillGrader assessment tool, the Marine Learning Systems solution enables continuous training by offering interactive content, tailor made to Attica Group needs that can receive updates any time. Crew entertainment is also available. Content and applications are accessible via mobile device or existing on-board computers. Finally, the system uses skill assessment forms, as well as dashboards and reports targeting knowledge gaps and training effectiveness.

Attica Group is active in passenger shipping through SUPERFAST FERRIES, BLUE STAR FERRIES, HELLENIC SEAWAYS and AFRICA MOROCCO LINK, operating 31 vessels in total, which provide modern and high quality transportation services in Greece and abroad. The Group’s vessels travel in 4 countries and 63 unique destinations, reach 78 ports and transport over 3 million passengers, 600,000 private vehicles and 300,000 freight units annually.

In line with the company’s exciting expansion plans Columbia Shipmanagement proceeded the official opening of its new office in Greece.

Situated in Southern Athens near Piraeus, one of Europe’s busiest ports, and close to the capital city, Columbia Shipmanagement Greece will provide ship management and maritime services to new and existing clients. Headed up by Gregory Spourdalakis, General Manager, it will also be able to promptly attend and provide services to all CSM managed vessels as well as other clients & partners requiring support in the area.

The new office officially opened on March 24^th and will offer cost-effective and fully optimised support services expertly tailored to individual client’s needs, resulting in the delivery of top quality modular maritime solutions.

An additional benefit to the new office location is its proximity to other Greek commercial ports and access to the service provision of the local services of the CSM network, including the expertise of the Cyprus region and its management capabilities.

Welcoming the opening of the new office, Mark O’Neil, CSM President and CEO, said it was a natural development for CSM to position itself near to what is one of the world’s most important shipowning centres.

“Greece is a major maritime country and the importance of its shipowners and ports cannot be understated. We look forward to working with our existing and new clients to ensure they receive the necessary support they may need to drive forward their businesses and fleets,” he said.

Image: The Team at the new CSM Greek office accompanied by the Top Management

Water treatment & environmental response specialists, Environmental Protection Engineering (EPE), and their sister company, industry-leading ballast water treatment specialists ERMA FIRST, have pushed forward plans to diversify product ranges and services.

oneTANK, producer of the world’s smallest ballast water treatment system, was acquired by ERMA FIRST last year. Respected German marine water treatment system manufacturer, RWO, was also brought into the fold in 2021.

Last month (March 2022), EPE launched EPE Yachting - a new division offering sustainable solutions for the superyacht market. 

The division offers cutting-edge water treatment and emissions abatement technologies as well as innovative professional cleaning services. Both RWO and oneTANK are available under the EPE Yachting offering.

EPE Yachting also partners with Blucher, Evac, Ingersoll Rand, Marioff, Teekay Pipe Coupling, Triclad and Wärtsilä SAM Electronics.

Speaking at the Nor-Shipping tradeshow in Norway, Helen Polychronopoulou, EPE Vice President and President of the Hellenic Marine Equipment Manufacturers & Exporters (HEMEXPO) association said: 

 “We are on track to building a Greek marine manufacturing powerhouse, with sustainability, reliability and customer care at our core. We have exciting new products in the pipeline, great customers and a global footprint. Watch this space.” 

To date, ERMA FIRST has installed over 2,500 ballast water treatment systems on more than 1,800 ships worldwide. Its global after-sales network now encompasses locations in 16 locations as well as a tie up with MAN Energy Solutions in the Benelux region. 

ERMA FIRST also owns intelligent-performance monitoring firm METIS, acquired in 2019, which brings integrated artificial intelligence to the ERMA FIRST FIT BWTS system.

"Our purchase of oneTANK last year was a game-changer for the ballast water treatment market," added ERMA FIRST Managing Director Konstantinos Stampedakis.

"The system is compact, simple-to-use, and fully automated. It delivers a quick to install additional solution for small ballast tanks on big ships as well as a stand-alone solution for small vessels such as yachts, tugs and offshore support vessels. 

"We were also delighted to welcome RWO into the fold. RWO is a world leader in water treatment systems for the shipping industry with a strong customer base and a reputation for excellence and reliability."

ERMA FIRST Group is headquartered in Piraeus and employs over 350 people globally.

Following its 27th Annual General Assembly and elections for the new Board of Directors and Auditing Committee of WISTA Hellas, held on Thursday 31th March 2022, WISTA Hellas is pleased to announce the new Board of Directors and Auditing Committee, for the term 2022-2024:

President Mrs. Elpi Petraki, Operations/Chartering & Business Development Manager, Enea Management INC

Vice-President Mrs. Elina Kassotaki, Business Development Manager, Holland Hellenic Shipping Agencies Ltd.

General Secretary Mrs. Elina Souli, Regional Business Development Director V.P. – FD&D Manager, American P&I Club (Shipowners Claims Bureau Inc., Hellas)

Treasurer Mrs. Akrivi Brikou, CFO, Efshipping Company S.A.

Member Ms. Anna Giatra, Shipbroker, Renaissance Shipbroking S.A.

Mrs. Katerina Konsta, Mrs. Despina Kalfa and Christiana Prekezes have been elected Substitute Members of the BoD, while Mrs. Ioanna Topaloglou, Mrs. Vivi Kolliopoulou and Mrs. Elizabeth Ioannidi shall serve as members of the Auditing Committee.

The re-elected President of WISTA Hellas, Elpi Petraki, has been an active member of the Association for the last 22 years and she has served as Vice President of the BoD for 4 years and President for the past 2 years. She is also the II Vice President of Hellenic Shortsea Shipowners Association (HSSA), member of the BoD of Hellenic Chamber of Shipping and member of the BoD of Hellenic Maritime Museum. She constantly works towards encouraging diversity and supporting the empowerment of women in all sectors of the shipping industry. She believes that sustainable development is achieved when people use new technologies and innovation for their own prosperity and for the benefit of the environment.

The Annual General Assembly was marked by an impressive turnout, with 123 members attending and 52 members represented by proxies. The members received a detailed update on the accomplishments of the Association and endorsed the balance sheet for 2021 and the budget for 2022. Furthermore, the amendment of the Association’s by-laws was deemed necessary, which was endorsed with a strong majority by the members.

The BoD of WISTA Hellas would like to express its most sincere gratitude to the past BoD members, Mrs. Christiana Prekezes and Mrs. Despina Kalfa for their devotion and achievements over the last two years.

The BoD of WISTA Hellas would like to thank the members of WISTA Hellas for their vote of confidence and especially for their loyalty and continuous support to the Association.

ABOUT WISTA HELLAS

WISTA Hellas is member of WISTA International, a global women’s network of maritime and trade professionals in 54 countries. Its members hold key managerial positions in companies and organizations and are influential decision makers. WISTA’s mission is the interaction among the members, the promotion of professional relations and the support and empowerment of women. It is an important and influential network with vast activity in national and international fora. WISTA International has received Consultative Status with IMO.

Photo Caption Photo WISTA Hellas BoD 2022-202:

L-R Anna Giatra, Elina Souli, Akrivi Brikou, Elpi Petraki, Elina Kassotaki

In March 2022, the Panamax Bulk Carrier “TINA IV” (GT 40,170 - DWT 75,200), laden with 66,000 tonnes of Indonesian steam coal, ran aground while transiting outbound passage from Balikpapan Port fairway, Indonesia, with destination to Yeosu, Korea.   

On 29 March, Tsavliris despatched the mega terminal barge “KFT-1” to lighten the vessel. On 30 March the discharging process commenced and 23,000 tonnes of coal were offloaded in record time of 29 hours. On 1 April the casualty was successfully refloated and the vessel was escorted by four port tugs to Balikpapan anchorage area, Zona A, where the cargo was efficiently reloaded from the “KFT-1” within 13 hours. On 2 April, the operation was successfully completed and on 3 April the vessel resumed her voyage.