Ahead of the next round of negotiations on maritime decarbonisation at the IMO (London, 1-4/9/2026), the President of the Union of Greek Shipowners (UGS), Mrs Melina Travlos stated:

“Climate change is a reality that Statement of the President of the Union of Greek Shipowners (UGS), we are experiencing with ever-increasing intensity. The growing frequency of extreme weather events makes the substantial reduction of greenhouse gas emissions an urgent matter of both individual and collective responsibility. The goal of decarbonisation is clear and shared.

As an industry, we recognise the role we have to play in practice and remain firmly committed to making a meaningful contribution towards this goal. We are systematically investing in energy efficiency, new technologies, steadily reducing the carbon intensity of the sector’s emissions.

Ambitious targets, however, need to remain realistic, and go hand in hand with solutions that reflect technological capabilities and the realities of the global market. Otherwise, we risk placing an undue burden on economies and societies without delivering the desired environmental benefits. Throughout that journey, the shipping industry supports that, we need a single, functional and truly workable global framework, adopted by the industry's international regulatory body, the IMO.

The course of the negotiations to date, however, has revealed significant weaknesses in the proposed IMO Net-Zero Framework, which clearly is not the solution. It is critical that the voice of shipping, the sector that will be called to implement these measures, is meaningfully heard. The green transition of shipping cannot succeed without the actual involvement of the industry.

In this context, the approach suggested by Panama and Liberia, while leaving room for further improvement, provides a balanced and pragmatic foundation for continuing the international dialogue. It takes into account critical parameters, such as the affordability, availability and scalability of the required fuels. The importance of these parameters in determining shipping's decarbonisation pathway is also acknowledged in Japan's proposal.

It is equally important that the Panama and Liberia proposal also recognises the crucial role of ship energy efficiency and its contribution to reducing emissions, a factor of particular importance while suitable fuels are either not available at all or only at excessive prices.

Shipping is vital to the functioning of the world. Every day, every hour, every minute, it connects the entire planet. That is why decisions concerning its green transition are of global significance.
We therefore call on IMO Member States to heed the voice of the industry for a global solution that will secure the necessary international consensus and combine environmental effectiveness, economic viability and social fairness.

The goal is one: meaningful decarbonisation. Because progress is ultimately defined by what can be achieved in practice, always guided by the common good, not by what is planned in theory.”

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Capital Clean Energy Carriers Corp. has taken delivery of the Liquefied Natural Gas Carrier ("LNG/C") 'Alcaios I’ on July 31, 2026.

Following its delivery, the LNG/C Alcaios I (HD Hyundai Samho Co., Ltd., 174,000 cubic meters (“CBM”) commenced its previously announced employment under an 18-month index-linked time charter.
The acquisition of the LNG/C Alcaios I was funded with cash on hand and $170.0 million in total proceeds raised through the refinancing of two existing sale and leaseback facilities for the LNG/Cs Aristos I and Aristarchos. The vessel was added as additional security by way of mortgage under the refinanced facilities, which have a 10-year term.

Alcaios I is the 15th latest-generation LNG/C delivered to the Company. CCEC’s under-construction fleet also includes six additional latest-generation LNG/Cs, scheduled for delivery between the first quarter of 2027 and the first quarter of 2029.

About Capital Clean Energy Carriers Corp.

Capital Clean Energy Carriers Corp. (NASDAQ: CCEC), an international shipping company, is a leading platform of gas carriage solutions with a focus on energy transition. CCEC’s in-the-water fleet includes 20 high specification vessels, including 15 latest generation LNG/Cs, one legacy Neo-Panamax container vessel, two dual-fuel medium gas carriers (“MG/Cs”) and two Handy Liquefied CO2 Multi-Gas Carriers (“HMG/Cs”). In addition, CCEC’s under-construction fleet includes six additional latest generation LNG/Cs, four MG/Cs, two HMG/Cs and one LNG dual-fuel Bunkering vessel to be delivered between the third quarter of 2026 and the first quarter of 2029.

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DNV Maritime Academy Hellas and the World Maritime University (WMU) are launching, for the first time in Greece, a five-day Masterclass on Human Element. The course is designed to help maritime professionals better understand the role people play in shaping a safer, more resilient and future-ready shipping industry.
The creation of the Masterclass follows the signing of a Memorandum of Understanding between DNV Hellas and the World Maritime University during Posidonia 2026. The agreement provides a basis for closer cooperation between the two parties withing the areas of maritime education, training and research.
Titled “At the Crossroads of Change: The Human Element at the Core of the Shipping Sector”, the course will take place from 30 November to 4 December 2026 at the DNV Maritime Academy Hellas in Piraeus, Greece. It will be delivered in cooperation with the National Technical University of Athens (NTUA), School of Naval Architects and Marine Engineers, and with the contribution of HELMEPA.
The programme combines high-level teaching with immersive hands-on training, covering key topics such as regulatory frameworks, safety, security, energy efficiency and sustainability, artificial intelligence, wellness, resilience and soft skills. Participants will also explore leadership, teamwork, intercultural communication and conflict resolution as essential skills for a future-proof maritime workforce.
“As the maritime sector continues to adapt to a multilayered transformation, the human element remains central to effective implementation and long-term industry progress,” said Dr. Marina Papaioannou, Regional Maritime Academy Manager, DNV Maritime. “This Masterclass aims to support policymakers, shipping leaders, managers and seafarers by providing a comprehensive understanding of how human performance and leadership influence compliance and operational effectiveness in a changing world.”
The course, offered in a face-2-face format only, will be delivered in English and is now open for registration through DNV’s training portal DNV External - Masterclass on Human Element.
More info: +30 210 4100200 (Marina Papaioannou).

About DNV: We are the independent expert in risk management and quality assurance. Driven by our purpose, to safeguard life, property and the environment, we empower our customers and their stakeholders with facts and reliable insights so that critical decisions can be made with confidence. As a trusted voice for many of the world’s most successful organizations, we use our knowledge to advance safety and performance, set industry benchmarks, and inspire and invent solutions to tackle global transformations.
DNV in the maritime industry: DNV is the world’s leading classification society and a recognized advisor for the maritime industry. We enhance safety, quality, energy efficiency and environmental performance of the global shipping industry – across all vessel types and offshore structures. We invest heavily in research and development to find solutions, together with the industry, that address strategic, operational or regulatory challenges.  

Image: The signing of the Memorandum of Understanding (MoU) between DNV Hellas and the World Maritime University (WMU) took place in the presence of representatives of all collaborating organizations, during Posidonia 2026.

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STEALTH Maritime, shipowner Harry Vafias’s tanker and liquefied petroleum gas carrier management arm, has extended its newbuilding orderbook with a pair of medium range product tankers.

The two MR2s have been contracted with HD Hyundai and are scheduled for delivery in 2029.
According to an industry source, the vessels will cost about $53m apiece, including upgraded specifications.
The new brace brings Stealth’s tanker orderbook to 16 vessels contracted at a total cost of about $1.4bn.
Earlier this year, the Greece-based owner ordered two very large crude carriers from Hanwha Ocean.
The Vafias Group sold its last VLCCs in 2008 and the Hanwha pair will mark its first return to the segment since.
The remainder of the newbuildings, including four suezmaxes, four aframaxes and now six MR2s have all been ordered from the Hyundai Group.

The all-South Korean company orderbook is not a surprise. Vafias has long shown a deliberate preference for ordering in Japan or South Korea.

This runs counter to China’s current domination of the shipbuilding market and the habits of most compatriot Greek owners, for whom about 60% of newbuildings currently on order are being built in the country.
The group is also a rarity in Greece for having a large fleet of vessels on the water with virtually no Chinese-built units among them.

Vafias acknowledged the surge in newbuilding investments by owners around the world in the past couple of years.

“There are too many newbuildings on order in all segments,” he said.

If the wars in Ukraine and the Middle East ended, said Vafias, “I am afraid we may see a rapid deterioration of day rates.”

Few owners, however, appear to be as well positioned as the Vafias Group to withstand most downturns.
The group has a fleet of 110 vessels across five companies, all of which are debt-free.
As well as private-held family companies Stealth and Brave Maritime, Vafias helms three publicly listed companies – LPG carrier owner StealthGas, Imperial Petroleum, which currently controls nine tankers alongside 12 bulkers, and C3is, which will have a fleet of three bulkers after delivery of an MR tanker it is buying.
The smallest of the group’s US listed companies, Nasdaq-listed C3is, last week raised about $6m from an underwritten public offering with Maxim Group.

Trading in the company’s shares caught the eye with several days of sky-high volumes.
On July 28, for example, it was the second heaviest-traded stock in the US markets, with share numbers surpassing giants such as Amazon, Google and Nvidia.

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MV Lem Azalea and MV Lem Plumeria are the first vessels in the company’s four-ship alternative-fuel newbuilding programme

 
Lemissoler Navigation has celebrated the naming of MV Lem Azalea and MV Lem Plumeria, the first two vessels in its four-vessel dual-fuel methanol newbuilding programme.

The naming ceremony took place on 27 July 2026. The two 65,000-dwt dry bulk carriers were built by CSSC Huangpu Wenchong Shipbuilding in cooperation with China Shipbuilding Trading Co. (CSTC).
The vessels originated from Lemissoler’s operational experience and ambition to develop efficient, competitive dry bulk carriers with the flexibility to meet both present requirements and the evolving demands of the maritime energy transition.

Bringing this vision to life was a joint effort. Shanghai Merchant Ship Design and Research Institute (SDARI) translated Lemissoler’s operational requirements and continuous owner input into the vessel design and detailed engineering, while the American Bureau of Shipping (ABS) contributed its classification expertise and technical guidance.

The resulting Lem65ePlus-SDARI design combines dual-fuel methanol capability with advanced hull optimisation, improved propulsion efficiency, energy-saving technologies and modern environmental systems. The design received Approval in Principle from ABS in 2023.

MV Lem Azalea and MV Lem Plumeria are capable of operating on both conventional marine fuel and methanol. This flexibility will allow the vessels to maintain reliable operations while supporting the adoption of lower-carbon fuels as their availability and the required infrastructure develop.
Both vessels will operate under charter to Cargill.

The vessels have been designed around long-term operational efficiency and regulatory readiness, helping them remain competitive and relevant throughout the maritime energy transition. Their addition to the Lemissoler fleet represents an important step towards the company’s objective of achieving net-zero emissions by 2045.

Philippos Philis, Chairman and CEO of Lemissoler Navigation, said: “The naming of MV Lem Azalea and MV Lem Plumeria is a significant milestone for Lemissoler and for everyone who has contributed to this programme.
“The concept began with a clear operational objective from our team: to develop efficient dry bulk vessels with the flexibility to meet both present requirements and the transition towards alternative fuels.
“Bringing that concept to life required close collaboration. SDARI translated our operational requirements and continuous input into the vessel design and detailed engineering, while ABS provided valuable classification expertise and technical guidance. Together with the shipbuilding capabilities of CSSC Huangpu Wenchong and CSTC, and the commitment of our technical and commercial partners, this collaboration turned our ambition into working vessels.

“MV Lem Azalea and MV Lem Plumeria demonstrate what can be achieved when operational experience, specialist engineering knowledge and close cooperation are brought together”.

The programme builds on Lemissoler’s established approach to fleet development. Drawing on its operational experience, the company defines vessel concepts and performance requirements before working closely with specialist naval architects, shipyards, classification societies and technology providers
to develop practical and commercially relevant solutions.

Lemissoler extends its appreciation to SDARI, ABS, CSSC Huangpu Wenchong and CSTC, as well as its financial institutions, equipment suppliers, technology providers, supervision teams and all other partners
involved in developing and delivering the programme.

The company also recognises the contribution of its newbuilding, technical, procurement, commercial, legal, finance and operations teams, as well as the captains, engineers and crews who will be responsible
for the vessels’ safe and successful operation.

MV Lem Azalea and MV Lem Plumeria are the first two vessels in the four-ship programme. Together, the
series represents a significant renewal of Lemissoler’s fleet and a practical investment in the future of lower-emission dry bulk shipping.

ABOUT LEMISSOLER NAVIGATION: Founded in Limassol in 1996, Lemissoler Navigation has developed into an international shipping group providing dry bulk cargo marine transportation services. The company combines operational experience with a strong focus on vessel efficiency, technological development and environmental responsibility. Lemissoler is working towards achieving net-zero emissions by 2045.

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Hamburg becomes the “place to be” for the international maritime community

The countdown is on: In one week, SMM 2026 will open its doors. What the industry has developed over the past two years is now coming to Hamburg. Around 2,300 exhibitors, 50,000 participants and more than 90,000 m² of exhibition space across twelve halls will once again turn Hamburg into an international meeting place for the maritime industry. The entire exhibition grounds are fully booked.
SMM means world premieres, international market leaders, exciting newcomers and the key players of the maritime industry – all in one place for four days. Many of the innovations at SMM will be on public display for the first time. SMM is far more than a trade fair: it is the meeting place for the international maritime community. The entire maritime world comes together here – shipyards and shipping companies, suppliers and classification societies, start-ups and research, as well as policymakers and international organisations.
“SMM is where the global maritime industry meets in person every two years. It is a showcase for technological and innovation leadership across the entire maritime value chain. And SMM is great fun, too. You simply meet everyone here!”, says Claus Ulrich Selbach, Vice President Exhibitions Maritime & Energy at Hamburg Messe und Congress.

 
The world comes to Hamburg

Companies from 70 countries and participants from 120 nations make SMM one of the most international meeting places for the maritime industry. Twenty-six official national pavilions, strong participation from the world’s leading shipbuilding nations and high-ranking delegations from politics, business and navies will be there. China, Japan, South Korea and India are among the maritime markets with a particularly strong presence. At the same time, international participation continues to grow: Cyprus, Vietnam and Brazil, among others, will have their own national pavilions for the first time.

 
Maritime expertise concentrated in one place

 
Five stages and five international specialist conferences make SMM a key knowledge forum for the maritime industry. Nowhere else do so many international experts come together to shape the future of the industry. The conference programme includes the Maritime Future Summit, the global maritime environmental congress (gmec), the MS&D – International Conference on Maritime Security & Defence, the Offshore Dialogue and the TradeWinds Shipowners Forum.

And that is far from all: numerous sessions, panels and Innovation Talks bring additional expertise directly into the exhibition halls, with the programme on the Transition Stages free of charge for SMM visitors. The new Exhibitor Innovation Stage is the fifth stage, giving exhibitors a platform to present their innovations in compact talks. Running alongside SMM, two new event formats will make their debut at the CCH – Congress Center Hamburg: ALL ABOUT PORTS and LogiNext Germany, expanding the programme to include the port industry and digital logistics.

New focus areas, more space

 
The new Energy Efficiency Hub gives the key topic of energy efficiency its own dedicated exhibition area for the first time, complemented by a specialist programme on the Energy Efficiency Stage. Maritime Security & Defence is also gaining more space: the established MS&D Conference is joined by the new MS&D Expo in Naval Hall B8 and the Naval Stage. The Dual-Use Tech Newcomer Zone will also provide young companies developing technologies for both civilian and military applications with a dedicated platform for the first time.

 
The next generation in focus

 
SMM brings the skilled professionals of tomorrow together with the industry. The Maritime Career Market will once again take place over two full exhibition days and is aimed at students, young professionals and school pupils. Admission is free on Thursday and Friday for school pupils, students and accompanying teachers. Young companies will also provide fresh impetus: Start-ups@SMM> and Young Innovators bring new ideas, technologies and business models to SMM.

More than a trade fair – an event

SMM 2026 starts with a first: for the first time, the SMM 2026 – Official Opening Conference will be open to all participants and will also be streamed live to the stages in the exhibition halls. Beyond the specialist programme, SMM is all about meeting people in person. From Tuesday to Thursday, each exhibition day winds down with Wine o’clock at the Transition Stages. International receptions, exhibitor events and stand parties keep the atmosphere going in the halls after the specialist programme ends. The Welcome Reception, Maritime Start-up Night, Career Happy Hour and MS&D Reception are just some of the networking events.
Six Theme Routes guide visitors across the exhibition grounds. In 2026, the former Green Route becomes the new Energy Efficiency Route. SMM TV by TradeWinds will report live from the event. SMM is also expanding outdoors, with more exhibition space available in the outdoor area in 2026.
After two years of preparation, the time has come: the maritime community is coming together in Hamburg once again. For four days, the Hanseatic city belongs to the maritime world. Welcome to SMM – The world’s leading maritime industry event.

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A Decade of Transformation for the Port of Piraeus

PPA S.A. marked ten years since COSCO SHIPPING became part of its shareholder structure, an investment that laid the foundations for the substantial transformation of the Port of Piraeus into one of the most dynamic, multi-purpose ports in the Mediterranean.

Over the past decade, the Piraeus Port Authority has experienced unprecedented growth, and notably across several sectors simultaneously. In container throughput, Piraeus evolved from a regional port into a leading transshipment hub in the Mediterranean. In cruise, an activity that has seen impressive growth in recent years, with steadily rising passenger traffic and new record highs, Piraeus has emerged as a leading homeporting destination.

In ship repair, works continue to upgrade the Perama Ship Repair Zone, reinforcing a sector of key importance for Greek shipping. At the Car Terminal, the main gateway for Greek vehicle imports, the expansion of infrastructure has been completed. And, of course, at the Ferry Terminal, the Port of Piraeus remains Europe’s largest in terms of passenger traffic, providing tangible support to the island connectivity of our country.

Beyond infrastructure, this decade has also marked a broader economic and social contribution: the port today supports thousands of jobs, strengthens the local economy of the neighbouring municipalities, and remains an integral part of everyday life.

This strategy has been accompanied by the systematic integration of ESG criteria into the Organization’s operations, with steady investment in environmental infrastructure, energy upgrades, and the protection of the marine and atmospheric environment. At the same time, the creation of the PPA Park, a modern green and recreational space to be handed over to the citizens of Piraeus, reflects the company’s commitment to connecting the port with the city and the local community.
On the occasion of this important anniversary, PPA S.A. CEO Mr. Su Xudong stated: “These ten years have shown that COSCO SHIPPING’s investment in Piraeus was an investment of confidence in the potential of the port, the country, and its people. We would like to thank the Greek State for its excellent cooperation throughout these years, the port’s stakeholders, and of course the PPA family for their decisive contribution to all of the above achievements. We are proud of what we have achieved together, but we are already looking ahead: the next decade will build on this solid foundation, with new investments, a stronger commitment to sustainability, and a vision to make Piraeus an even more modern, greener, and more competitive port of international standing”.

About PPA S.A.: Piraeus Port Authority SA, a Euronext Athens listed company, is engaged in the management and operation of Piraeus Port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as general cargo, ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world.
Over the last decade the company has experienced a remarkable growth in all port activities, which is still
underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to society.

PPA holds the “ECO PORT” PERS status, is included in the Euronext Athens ESG index and is one of the “Most Sustainable Companies in Greece 2026”. 

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Following Financial Times reports regarding potential EU sanctions on Russian LNG, Dynagas, the leading Greek shipping company listed on the US stock exchange—issued a critical statement, initially expressing its sincere wishes for a swift end to the war in Ukraine.

The company warns that a total ban on transshipping Russian LNG to third countries risks becoming a "self-inflicted wound" for European maritime capacity. It argues such measures would strip Europe of strategic Arctic navigation expertise, employment, and global influence, without achieving the intended geopolitical goals or significantly reducing Russian revenues.

Dynagas’s highly specialized "ice-class" LNG carriers operate under long-term charters signed in 2015–2016 with the Yamal LNG project, holding legally binding commitments that extend until 2065. Yamal LNG is an international venture with substantial European involvement; France's TotalEnergies holds a 20% stake, while major European energy firms, including Germany’s SEFE and Spain’s Naturgy, are key off-takers. Since Novatek owns 50.1%, the project's actual contribution to Russian state revenues is highly debatable.

The statement highlights that forcing European operators to abandon long-term contracts will not halt the trade. Instead, it will transfer strategic Arctic assets and expertise to non-Western operators, who will continue transporting LNG at a lower cost. Consequently, the flow will persist, while Europe permanently loses capabilities built over decades. Dynagas urges EU policy makers to adopt a pragmatic approach balancing geopolitical aims with maritime survival, praising the Greek government's alignment with this direction.

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Focusing on issues related to development, employment, and the contribution of Chalkis Shipyards to the local economy the Minister of Maritime Affairs and Insular Policy, Vasilis Kikilias visited the site of the shipyards accompanied by the Governor of the Region of Central Greece, Fanis Spanos, and Members of the Hellenic Parliament for Evia, Simos Kedikoglou and Thanasis Zebelis.

During the visit, the Minister toured the shipyard’s facilities, met with employees, and was briefed by the Company’s Management on the shipyard’s operations, infrastructure, and plans for further development. The meeting was attended by representatives of local government, regional stakeholders, as well as representatives of the Company’s management and workforce.

The Management presented the shipyard’s existing capabilities, the investments currently underway, and the prospects for further strengthening shipbuilding and ship repair activities in the region. As part of the presentation, the Minister was also introduced to the shipyard’s new, largest dry dock, which significantly enhances its capacity to service vessels and further strengthens its operational capabilities.

The discussions also focused on issues related to development, employment, and the contribution of Chalkis Shipyards to the local economy, as well as on the prospects for expanding shipbuilding and ship repair activities in the region.

Chalkis Shipyards expressed its sincere appreciation to the Minister and all participants for their visit and the constructive dialogue, reaffirming its commitment to supporting the continued growth of Greece’s shipbuilding and ship repair industry and to serving the needs of the Greek-owned fleet.

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The project will assess whether wind-assisted propulsion can deliver commercially viable efficiency gains for standard product tanker operations.

With the aim to develop a wind-assisted 50,000 dwt Medium Range (MR) tanker, Capital Ship Management Corp., K Shipbuilding and Lloyd's Register (LR) have launched a Joint Development Project (JDP).

While wind-assisted propulsion has gained traction across bulk carrier and specialist vessel segments, its application in the MR tanker market remains largely unexplored.

The project aims to bridge that gap by assessing how Wind-Assisted Propulsion Systems (WAPS) can be integrated into a commercially competitive tanker design, while maintaining operational flexibility and cargo-carrying capability.

The collaboration combines Capital Ship Management's operational expertise, K Shipbuilding's tanker design and construction capability, and LR's technical assurance and regulatory knowledge to address both the engineering and compliance challenges associated with deploying WAPS on a mainstream tanker platform.

The project will include technical studies, design optimisation and regulatory assessments to support future Approval in Principle (AiP) activities and establish a pathway towards commercial deployment.

The signing of the JDP marks the first stage of a broader technical programme that will examine the operational, engineering and regulatory considerations associated with wind-assisted tanker designs, supporting the development of commercially viable solutions for low-emission shipping.

Theo Kourmpelis, Global Business Director for Tankers, Lloyd's Register, said: “Wind-assisted propulsion has already demonstrated its potential to improve vessel efficiency, but wider adoption will depend on proving that the technology can deliver commercial value in mainstream shipping sectors. The MR tanker market is an important test case.

“Shipowners are increasingly seeking solutions that can deliver measurable efficiency improvements while supporting regulatory compliance. By combining practical operational insight with advanced ship design expertise, this project will help evaluate how wind-assisted propulsion can be effectively incorporated into future tanker designs.”

Nikolas Vaporis, Chief Technical Officer, Capital Ship Management Corp., said: "When we took delivery of our six MR newbuildings in 2023, each one carried Wind-Assisted Ready notation, a deliberate design choice that reflected our conviction that wind propulsion would become commercially relevant for this segment. This project is the natural next step on a path we set out on from the start. Our priority now is to move from 'ready' to 'proven': a design that delivers real efficiency and emissions benefits while preserving the operational and cargo flexibility our charterers depend on.”

Tae-Hyun Koh, Chief Technology Officer, K Shipbuilding, said: “As the maritime industry accelerates its efforts towards decarbonisation and sustainable growth, this collaboration will enable K Shipbuilding to further enhance its capabilities in developing next-generation eco-friendly vessel solutions and strengthen our position in the global MR tanker market.”

Image: (l-r) Kwan-Ho Song, CMO of K Shipbuilding; Nikolas Vaporis, Chief Technical Officer, Capital Ship Management Corp; and Joe Borg, Maritime Strategy Director, LR.

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