Unified platform approach for ZeroNorth Bunker with interconnected data will fuel digitalisation and sustainability

Technology company ZeroNorth is consolidating its existing bunkering business under the ZeroNorth brand, unlocking faster value delivery for customers, and driving enhanced data-driven insights, additional fuel savings, improved profit margins and emissions reduction.
ZeroNorth recognises the importance of digitisation across the entire bunker value chain to accelerate the decarbonisation of the shipping industry. To this end, the past 18 months have seen ZeroNorth invest heavily in the bunkering space, acquiring Clearlynx, Prosmar Bunkering and BTS to serve all parts of the market. The integration into ZeroNorth Bunker will see one unified team come together under a single brand, creating synergies across the different solutions to enable faster release of new features that respond to market needs.
ZeroNorth Bunker will consolidate the company’s 13 existing product offerings into six core products spanning Bunker Planning, Bunker Procurement, Bunker Supply and Trading, Bunker Pricing and e-BDN solutions. These solutions will facilitate data-driven decisions for customers, with this integrated approach bringing transparency and continuity to customers’ bunkering processes and delivering an enhanced user experience.
Speaking on the announcement, Kenneth Juhls, Managing Director for ZeroNorth Bunker at ZeroNorth, said: “Leveraging real-time market insights and with 50 million tonnes of bunkers already traded annually on the platform, we take pride at ZeroNorth in our ability to drive positive change in the bunkering industry. This includes accelerating digitalisation and transparency in the sector, which ultimately contributes towards our customers’ decarbonisation and commercial goals.”
By optimising the bunkering process, ZeroNorth Bunker turns millions of live data points into actionable recommendations. More robust insights will be generated for customers through this integrated approach, as more data is being interpreted which will in time enable the data flywheel effect, delivering a positive feedback loop.
The platform will be able to deliver deeper, more granular insights into bunker optimisation, reducing fuel consumption and associated costs and emissions for customers, driving benefit for both profit and planet.

About ZeroNorth
Recognising the challenges posed by climate change, technology company ZeroNorth was founded to accelerate the transition to greener global trade. By blending cutting-edge data-driven technology with human expertise, the ZeroNorth platform provides a range of software solutions that are helping the global shipping industry cut emissions and reduce its impact on the climate, whilst maintaining commercial performance.
ZeroNorth offers one platform with multiple services and is an industry leading software developer, which interconnects data into insights and actions, optimising global trade for cargo owners, vessel owners, commercial operators, charterers, and bunker suppliers. The company’s software offers a full range of services which support the value chain to increase earnings and reduce CO2 emissions.
For more information, please visit: https://zeronorth.com

image:  Kenneth Juhls, Managing Director for ZeroNorth Bunker at ZeroNorth

11 latest generation two stroke LNG Carriers enters CPLP’s fleet from 2023 to 2027, which would make the

Partnership Capital Product Partners LP the largest US publicly listed owner of two stroke LNG carriers.

The partnership will also change its name to Capital New Energy Carriers L.P. to reflect focus on LNG carriers and energy transition shipping with the intention to convert into corporation with customary governance structure.

The partnership will maintain the right of First Refusal on two ammonia carriers and two liquid CO2 carriers on order by Capital Maritime, as well as on future two stroke LNG vessels and charters from Capital Maritime and has the intention to divest from non-core container vessels.

The partnership will also have a significant funding support from Capital Maritime, including a no-fee, fully backstopped Rights Offering of $500.0 million and an unsecured non-amortizing Seller’s Credit of $220.0 million

In view of all the above conditions, Nasdaq listed Capital Product Partners L.P. has entered into an umbrella agreement with Capital Maritime & Trading Corp. and Capital GP L.L.C. providing for the acquisition of the following 11 newbuild LNG carriers (“LNG/C”) from Capital Maritime for a total acquisition price of $3,130.0 million.
In addition to commercial debt, and in order to finance a portion of the purchase price for the vessels and pursuant to the Umbrella Agreement, (i) Capital Maritime has agreed to issue an unsecured seller’s credit to us in an amount of up to $220.0 million at a fixed rate of 7.5%, repayable on June 30, 2027 and (ii) we will conduct a rights offering to finance $500.0 million of the purchase price.
The rights offering is expected to commence on November 27, 2023 (the “Launch Date”). We will distribute to holders of our common units of record on November 24, 2023 (“the “Record Date”) rights to purchase newly issued common units at a price per common unit equal to the greater of (x) $14.25 and (y) 95% of the volume-weighted average price of the common units trading on the Nasdaq Global Select Market for the period from November 15, 2023 through and including the last trading day immediately prior to the Record Date. The subscription price per common unit in the offering will not be greater than $14.50. The rights will not be transferable. The rights offering will be made only by means of a prospectus supplement and accompanying prospectus.
Following the closing of the Umbrella Agreement, we intend to explore the disposal of our container vessels and abstain from acquiring additional container vessels. Pursuant to the Umbrella Agreement, we also agreed to change our name to “Capital New Energy Carriers L.P.” This name change is expected to become effective by December 31, 2023. Further, we, Capital Maritime and the General Partner have agreed to, in good faith negotiate and jointly work with tax and other advisors to agree terms for the conversion from a Marshall Islands limited partnership to a corporation with customary corporate governance provisions within six months of the closing of the Umbrella Agreement.
In connection with the change of our business focus to concentrate on the LNG/C market, Capital Maritime agreed to grant to us, beginning on the Closing Date rights of first refusal over (i) transfers of LNG/C vessels owned by Capital Maritime to third parties, opportunities to order newbuild LNG/C vessels of which Capital Maritime becomes aware, and employment opportunities for LNG/C vessels of which Capital Maritime becomes aware, in each case, for a period ending on the tenth anniversary of the Closing Date, (ii) transfers to third parties of two certain liquid CO2 carriers and two certain ammonia carriers recently ordered by Capital Maritime (the “New Energy Vessels”) for a period ending when Capital Maritime and its affiliates no longer beneficially own at least 25% of the issued and outstanding common units and (iii) if we acquire a New Energy Vessel from Capital Maritime, employment opportunities for such New Energy Vessel of which Capital Maritime becomes aware, for a period ending when Capital Maritime and its affiliates no longer beneficially own at least 25% of the issued and outstanding common units.
Mr. Jerry Kalogiratos, Chief Executive Officer of our General Partner, commented: “We are very pleased to announce this transformative transaction for the Partnership, which we expect to usher Capital Product Partners L.P. to a new chapter in its life as a public listed entity. Upon completion of the 11 LNG/C fleet acquisition, we expect CPLP to transform, into one of the largest US listed shipping companies in terms of enterprise value and the largest owner of two stroke, latest generation LNG carriers compared to the current fleet of its US listed peers. The commitment to change the name of the Partnership to ‘Capital New Energy Carriers L.P.’ and to gradually divest our container vessels, reflects our renewed business focus on LNG and energy transition shipping. We are well positioned to take advantage of the strong fundamentals of the LNG industry with six open LNG/Cs delivering between 2026-2027 and rights of first refusal on a unique fleet of LCO2 and ammonia carriers. We believe that this transaction, together with our stated intention to convert the Partnership into a corporation and to review over time our capital allocation policy, should attract additional investor interest and allow our equity valuation to move closer to our peers.”
“Importantly, the acquisition of the 11 LNG carriers is expected to be transformative across all financial and qualitative metrics for the Partnership, as we expect our contracted revenues to increase by 87% to $3.1 billion, our revenue weighted charter duration to 7.2 years as of the Closing Date and the average age of our LNG fleet to decrease to 3.2 years by the time all LNGCs have been delivered in 2027.”
“Finally, I am pleased to see our largest unitholder and sponsor, Capital Maritime, fully backstop at no additional cost and at a 9.6% premium to the last closing price a $500.0 million rights offering and offer an attractively priced $220.0 million seller’s credit to partly finance this transaction, while giving a right of first refusal on all LNG business and its New Energy newbuilding vessels to CPLP. We believe that the rights offering with the Capital Maritime backstop will allow for all our unitholders to participate without execution risk in the transition of CPLP to an LNG and energy transition focused corporation, which we hope to become a bell weather for the industry.”
Capital Product Partners L.P. currently owns 22 vessels, including seven latest generation LNG carrier vessels, 12 Neo-Panamax container vessels and three Panamax container vessels.

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Neptune Land Services (NLS) acquired a majority stake in FERST Logistics. NLS was established in January 2023, in the framework of Neptune Group’s expansion into the field of land logistics services. 
This acquisition aligns with Neptune Group's broader vision to provide high-quality reliable and adaptable services in the finished vehicle supply chain. Upholding principles of sustainable development, and its corporate mission to serve customers at all stages of the supply chain, Neptune Group takes another significant step in its expansion and growth strategy.
FERST Logistics, with a history of 30 years in the automotive logistics sector, is a pioneering company. With facilities covering 400,000 square meters, a fleet of 30 trucks, and a workforce of 180 people, FERST logistics has established itself as the leading provider of automotive logistics services in Greece.
The acquisition strengthens NLS's position in the finished vehicle supply chain. FERST will retain its highly experienced management team and the company's valuable know-how in the fields of distribution, storage, and technical centers (PDI).  At the same time, combined with the high expertise and market-leading shipping network of Neptune Lines, a robust integrated system for providing maritime and land automotive logistics services is created.
The agreement marks a milestone in the implementation of Neptune Land Services' strategy, focused on providing high-value-added logistics services to the automotive industry. The company’s main pillars of development and activity in the near future, include the development of car terminals offering a full range of modern technical services, as well as the provision of optimal distribution solutions for vehicles to end customers.
Craig Jasienski, CEO of NLS, commented: "We are excited to have completed the acquisition of FERST Logistics. It is a strategic collaboration that enables us to leverage Ferst's expertise in onshore logistics and combine it with our strong/robust maritime distribution network. Together, we will provide comprehensive and competitively attractive logistics services to our customers."
The CEO of FERST Logistics, Dimitris Kybizis, mentioned: "We are entering a new and exciting chapter in our company's long journey. Both Neptune and FERST share the same social and corporate values. This provides our management team with the incentive to work closely with NLS's experienced professionals to consolidate and further enhance the services we provide to our clients."
Melina Travlos, President of Neptune Group stated: "The acquisition agreement of a majority stake in FERST by Neptune Land Services represents a significant stride in the realm of our business transformation, focusing to our investments on land. Guided by the substantial and mutual relationship of trust we have built over these years, both with our team members and collaborators, we expedite the sustainable growth of the Neptune Group, always keeping our clients at the forefront.
Our Group actively reinforces its vision for continuous and consistent development, puts into practice our corporate philosophy "Wake Forward" and invests in our home country."

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The 15th “Greener Shipping Summit” was held at the Eugenides Foundation in Athens on November 7, 2023, by organiser Newsfront / Naftiliaki in a resounding success.
Titled “Where is Shipping Heading in the Next Decade”, it was held under the auspices of Greek shipping's powerful Marine Technical Managers Association, Martecma.
Every year the conference features prominently on the shipping community’s annual calendar, drawing strong interest. More than 500 people from 15 countries attended the conference, along with the participation of 354 companies.
Under the chairmanship of Stavros Hatzigrigoris, Advanced Engineering Services, Zodiac Maritime, five panels of discussion were held bringing together some 30 panelists who analysed and presented key topics focusing on the environment, regulations, business trends and the global economy. CEOs, senior officials, analysts and leading market participants, among others, provided valuable insight on fast changing topics faced by the shipping industry.
John Platsidakis, Honorary Chairman, INTERCARGO, as keynote speaker highlighted that over the years Greek ship owners have followed the evolution of technology and will continue to do so.
 “Adaptability is the key word. We all observe a fast enhancing technology affecting business and the day to day life of all citizens. In parallel, the protection of the environment is at the top of the agenda of society. Every sector of the economy needs to take this into account and certainly shipping needs to do so,” he said.
“In terms of the protection of the environment, I would say that shipping is guilty until proven innocent. Shipping has received heavy criticism as a major pollutant. This is unfair. It transports 90% of world trade, and emits 2.3% of the world’s emissions,” Mr Platsidakis pointed out.
In two sessions moderated by Haris Giantzikis, Technical Manager, Arcadia Shipmanagement discussing “Solutions heading for zero carbon”, Michael Jeppesen, Promotion Manager, MAN Energy Solutions, said that his company is moving ahead with research work and expects to install its first ammonia powered engine in a vessel next year. “By the end of 2024, we will be able to deliver our first ammonia powered engine, a commercial engine, that will be delivered to a Japanese shipyard. We have positive results from our tests. A handful of engines will be in use in 2025-26,” said Jeppesen.
In turn, Christoph Rofka, Division President for Medium and Low Speed Products, Accelleron, spoke about the need for flexibility in product development as he looked at challenges in adopting new fuels. “Ammonia, methanol and LNG will be the future fuels. By 2030 all newbuilds will be dual fuel capable. The technology will ramp up faster than the availability of these new fuels,” he said.
Converting raw data to actionable intelligence was addressed by George Manditsios.  Product Owner, Data Analysis Department, METIS Cyberspace Technology, Dimitris Koutsaftis, Senior Scientific Consultant, R&D, ERMA First presented carbon capture storage (CCS) while Hempel’s  Yigit Kemal Demireal addressed navigating energy efficiency dilemmas in the CII era.
Powering the world with wind was discussed by David Ferrer, Chief Technical Officer and Co-founder of bound4blue; energy saving devices (ESD) were presented by ERMA First’s Vassilis Tsarsitalidis; Hakon Juel Hansen, Promotion Manager & Business Development, HOLEBY Gensets, MAN Energy Solutions presented developments as MAN heads for zero carbon methanol gensets and Antonis Trakakis, Technical director, Marine, RINA gave an overview of solutions for decarbonising the shipping industry.
A main point of discussion in the conference is how shipping can tackle the uncertainty and prepare for challenging conditions.
Moderated by Evangelos Adam, Sustainability, Environment, Energy Performance Manager, Dynacom Tankers Management, the issue of if new technologies guarantee the sustainability of shipping was discussed. OVERSEA –  a Fleet Support Center as a Service was presented by Marcel Vrijsen, Global Sales Manager, Digital Service, ABB; Navigating the maintenance challenges of two-stroke engines was covered by Marcus Schaerer, General Manager Technical and Services, Shell Marine.
Lefteris Koukoulopoulos, Regional Decarbonisation Specialist, DNV, said that “we need to collaborate between industries to secure the best solution for each industry.” A view mirrored by Fotis Dalmyras, Chief Executive Officer, Andriaki Shipping Co Ltd. “What needs to be done is to get the right collaboration either within the company or with external partners,” said Dalmyras.
In regards to useful tools in the decarbonisation process, Nikos Liapis, President, Hellenic Institute of Marine Technology (HIMT), stressed that AI has emerged as a powerful weapon in the push to make the industry sustainable.
“The best way to achieve decarbonisation in the short term is by optimising ship operations,” he said. AI can help reduce consumption, collect all data on carbon emissions and prevent engine deficiencies, added Liapis. “On training and getting the right skills, the biggest problem here is finding the right personnel to do this. There must be a lot of training to be sure that crews have the right skills,” said Liapis.
Other discussions took place focused on “How can a ship operator navigate the complex regulations sea?” moderated by Stamatis Fradelos, VP, Regulatory Affairs, ABS. Panellists including Maria Lambardaki, Project Development Leader SEEBA Zone, Bureau Veritas, who presented CII, EU ETS, FUEL-EU Maritime – Regulatory framework and challenges from verifiers aspect; Theo Kourmpelis, Strategic Business Partner, who led on IMO revised strategy and expected impact to industry including the midterm measures (MBMs).
Commercial / financial impact to operators from regional measures (EU ETS – Fuel EU) was addressed  by Stylianos Psillakis, General Manager Technical, Columbia Shipmanagement Greece Ltd; The changing regulatory landscape as a catalyst for technological advancement in shipping was presented by  George Skevis, General Manager, CLEOS and designing for the future while learning from the past was discussed by Christos Hadjigeorgiou, MD, Almi Marine Management SA
Furthermore, Greece’s global position was examined in a discussion “How Greece will maintain its leading position in global shipping”.
Moderated by Panos Kourkountis, Technical Director, Sea Traders SA and Chairman of  MARTECMA the final session of the day was led by John Cotzias, Projects & Finance, Xclusiv Shipbrokers; President, Hellenic Shipbrokers Association; Angelica Kemene, Head of Market Analysis & Intelligence, Optima Shipping Services; George Souravlas, CEO, Load Line Marine SA, and Panagiotis Zafet, MD Balthellas Group

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EPE YACHTING, a leading supplier of sustainable services and solutions for superyachts, has received certification from DNV to confirm that its TRITON FIT sewage treatment plant (STP) fully complies with IMO Resolution MEPC 227(64).
Part of MARPOL Annex IV for the Prevention of Pollution by Sewage from Ships, IMO/MEPC 227(64) sets out the guidelines for implementation of effluent standards and performance tests for sewage treatment plants onboard yachts.
During the certification process, DNV undertook the relevant procedures for the product type to confirm compliance with IMO/MEPC 227(64). In addition to issuing a Type Approval Certificate, DNV also issued an EC Type Examination Certificate confirming the successful completion of the design assessment and testing.
Designed specifically for use on superyachts, TRITON FIT is the smallest fully compliant sewage treatment plant on the market, making it the ideal solution for both newbuild and retrofit projects. TRITON FIT is a physicochemical system that utilises a coagulant chemical and buffer tank to ensure the highest effluent standards are routinely achieved. The process can be fully automated and features an integrated washing system to prevent fouling of sensors, valves and outlets.
Dimitris Avdelopoulos, EPE YACHTING Director, said: ”I am delighted to announce that TRITON FIT has successfully completed this certification process with DNV. With pressure growing on yacht owners and managers to invest in sustainable solutions, TRITON FIT provides peace of mind that the sewage system is operating to the highest standards and in line with environmental regulations.
“The EPE YACHTING team has designed an excellent system that supports our mission to align with meaningful environmental operations, and this certification provides assurance that TRITON FIT not only complies with IMO standards for sewage treatment and discharge, but that it was tested under the strictest processes and procedures”.
About EPE: For over 45 years, EPE YACHTING has been developing innovative and sustainable maritime solutions for the superyacht sector. Motivated by the needs of the maritime industry and dedicated to ensuring compliance with environmental regulations, EPE YACHTING provides a wide range of premium quality services and solutions for yachts and super yachts.
The company’s goal is to guarantee excellent results and ensure the optimal performance of superyacht equipment.

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PPA S.A. participated for a sixth consecutive time in the 6th China International Import Expo (CIIE) in Shanghai. During the November 5-10, 2023 event, the company made a remarkable impact with its strong on-site representation, showcasing an exceptional display of the port’s services to the global audience of the exhibition, the first to take place following the pandemic period.
The company enhanced the image and promoted the advantages of port services in CIIE as the key stakeholder of Greek port and tourism industry, with the presence of PPA’s leadership and management, showcased PPA’s commitment to fostering trade relations, networking, and facilitating the exchange of valuable knowledge and experiences, thereby emphasizing its outward orientation and dedication to promoting international collaboration and expertise transfer.
This year, PPA’s booth focused on showcasing PPA’s commitment to high quality services and sustainable development. The PPA booth showcased an array of captivating features for visitors around the world. Through interactive maps and virtual reality (VR) glasses, visitors had the change to explore the port and gain a unique glimpse into the various port activities in Greece and the company’s top position within the global maritime industry. An interactive program provided a comprehensive introduction to each port sector, allowing for a thorough understanding of PPA’s differentiated operations. Furthermore, as part of the parallel events of CIIE, one of the attended PPA officers delivered a compelling presentation focused on the company's remarkable achievements in Environmental, Social, and Corporate Governance (ESG), highlighting the Piraeus Port’s significant contributions to sustainable development. It is worth noting that all PPA employees could engage with CIIE through a dedicated live streaming remote session, fostering further interaction and engagement.
Through all the above interactive media and digital presentations, many visitors expressed their willingness to visit the port of Piraeus, especially the ferry and cruise terminal of the port in order to enjoy their trips to the Greek islands.
The Chairman of PPA S.A., Yu Zenggang, shared his excitement for PPA’s participation in this year’s CIIE, emphasizing, “We are thrilled to once again be a part of CIIE, one of the most prominent international events. It serves as a platform for us to showcase PPA’s unwavering dedication to innovation, sustainability, and global collaboration. Furthermore, all PPA team members had the chance to connect with representatives of the international business community, fostering valuable networking opportunities, exploring potential partnerships,  And furthering our steadfast commitment to international trade and the maritime industry”.

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Aiming at the development of advanced technologies, to provide extreme performance for extreme conditions Kongsberg has created an integrated portfolio to fulfill the operational needs and decarbonization goals of the shipping sector.
In view of the shipping’s digital transformation Kongsberg organized in Athens a technical day under the guidance of experts and officials from Norway Finland and Greece. Stavros Fountas Managing Director, Head of Sales and Country Manager Greece of Kongsberg Maritime Hellas SA opened the event and introduced the speakers.
The issue of Integrated Solutions was presented by Mr. Ståle Furuberg who discussed the following topics Alarm & Monitoring system, The new "K-Chief", Propulsion Control, "Auto Chief", Tank Monitoring, "K-Gauge", Integration between K-Chief, Steering Gear & Deck Machinery. He pointed out that the systems of Kongsberg ensure uniformity and efficiency and offer simple maintenance and optimized operation.
The next speaker Mr. Rune Johansen referred Lifecycle support services of Kongsberg that include upgrade of systems, retrofit during maintenance and other services.
Mrs Åsa Windfäll discussed the issue of Hydrodynamics & Propulsion for sustainability.
She referred to the advantages of CPP controllable pitch propellers which rotate the same direction going ahead astern and zero thrust regardless of engine speed. CPP offers excellent manoeuvrability and engine overload protection. She also presented the tasks of Kongsberg hydrodynamic research center in Finland that is involved with design analysis and customer support.
Mrs Åsa Windfäll also referred to the topics of Re-blading, Promas Lite and Propeller Upgrade.
Mrs Sanna-Mari Kilpimäki presented Kongsberg’s Thruster portfolio and applications, TSP concept (supply on exchange basis), Upgrades, Refits and Retrofits. Mrs Kilpimaki explained how the various types of thrusters operate such as pulling, pushing, open ducted and contra rotating systems.
Oskar Levander and Tore S. Søreide explained how to navigate the decarbonization journey focusing on New-builds concepts and Existing fleet concepts.

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On Thursday 9^th November 2023 a concert was performed in view of the “China – Greece Year of Culture and Tourism”.
The event was attended by senior officials, including Hong Kong’s Under Secretary for Culture, Sports and Toursim Mr. Raistlin Lau.
The guests had the chance to meet with the artists and especially the famous violinist Yao Jue.
The Hong Kong String Orchestra was founded by virtuoso Yao Jue SBS, BBS, JP Hong Kong String Orchestra (HKSO) strives to groom home-grown musical talent. Over the past ten years, the Orchestra has touched the lives of music lovers through the concert series and overseas exchange tours. And has achieved significant recognition locally and internationally for its “music uniqueness fusing Eastern and Western influences”.
Yao Jue – Violinist
Yao Jue’s professional career has been punctuated by widely acclaimed performances throughout Asia, Europe and the United States. Music critics have universally employed phrases such as “technically impressive”, “intensively moving” and “impeccable technique” to describe the performance. She is the only violinist to be included in the 1995 “China’s Famous Females” book accomplished by the International Women’s Congress in Beijing.

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With the presence of members of the Greek Government and state officials, the financing agreement for the historic Elefsina Shipyards was signed between the American development organization, DFC and the ONEX group.
At the same event, the floating dock "Stratis G. Andreadis" was inaugurated. It is a new generation dock, Panamax class, which incorporates "green" and "smart" technologies. The "Stratis Andreadis" and the dock installed by the ONEX Group at Neorio Shipyards, in Syros, are the largest in Greece.
The U.S. International Development Finance Corporation (DFC) Chief Executive Officer (CEO) Scott Nathan signed a financing agreement for a $125 million loan to ONEX Elefsis Shipyards and Industries (ONEX) to rehabilitate and modernize the Elefsina shipyard near Athens, Greece.
DFC financing will help create a strategically critical maritime and energy supply hub for the region by expanding the shipyard’s capacity to service liquified natural gas (LNG) ships, promoting European energy security and diversification, creating new local jobs, and bolstering the U.S.-Greece partnership through a transparent, high-quality investment.
“DFC’s investment in the Elefsina shipyard will develop a maritime and energy supply hub that will create good local jobs here in Greece and help the country and region become less reliant on Russian energy,” said DFC CEO Scott Nathan. “DFC is proud to advance this high-quality infrastructure project that will generate more reliable access to energy and foster greater economic growth and prosperity for our partners across the region.”
CEO Nathan joined Greek Minister of Development and Investment Kostas Skrekas and U.S. Ambassador to Greece George Tsunis at the shipyard for the signing ceremony. With DFC support, ONEX will expand the shipyard’s capacity to repair and upgrade ships, particularly ships that service the nearby Revithoussa LNG terminal. This will promote increased access to reliable, secure energy in the Western Balkans and Eastern Europe by expanding high-quality infrastructure to support diversification of LNG supply for the region – a critical undertaking amid Russia’s attempts to destabilize regional energy access.
The shipyard is strategically located near several key gas trade routes. ONEX will use DFC financing to transform the shipyard into an energy supply hub supporting LNG shipping lanes in the Mediterranean and Aegean seas and supporting Greece’s renewable energy goals.
DFC’s investment is projected to expand the shipyard’s capacity to service up to 200 ships per year. In addition, the new facilities will include a 30MW solar farm to provide energy to the shipyard and to the local grid. The upgrades will include repurposing part of the shipbuilding infrastructure for the fabrication and assembly of wind turbines.
This investment advances President Biden's and the G7's commitment to strengthening global infrastructure through values-driven, high-standard, and transparent investments.

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On Monday, October 30th, in the Caryatids hall of the Grand Hyatt Hotel in Athens, 250 guests attended a dinner honoring the supporters of the Propeller Club, Port of Piraeus, in a warm and pleasant atmosphere.Each year, the dinner provides a chance to honor the companies and organisations that support the Club with their valuable contribution.Chrysanthi Stefanou, the President of the Club's Events and Forums Committee and Governor of Propeller Club, Port of Piraeus, presented the event. Taking the floor, President Costis Frangoulis declared, among other things: "Tonight is dedicated to all of you. Our primary goal is the development of our social work, which we could not achieve without your valuable input and contribution.”Theofilos Xenakoudis, Governor and Chairman of the Fundraising Committee, then greeted and thanked all attending companies for their support. Finally the President along with Board members presented each company with an honorary plaque.The evening ended with a musical performance by the well-known performer, Ioanna Sevopoulou.

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