120 Greek and Italian Nautical High School students participated in a series of seminars on ocean and climate awareness as part of the ‘Ride the Wave’ program. The educational material was developed by scientists, educators, and representatives from organizations in the blue economy sector and is now available to Nautical Schools.
Specifically designed for Nautical Vocational Schools, the program focused on disseminating scientific knowledge and promoted a deeper understanding of the relationship between the climate and the oceans, highlighting their role in mitigating climate change. Ride the Wave also informed and guided young people towards pursuing careers within the Blue Economy.
The Hellenic Marine Environment Protection Association – HELMEPA and the Italian environmental Association Marevivo Onlus (project leader) in collaboration with 2 high schools, the Nautical Institute "G. Da Verrazzano” (Porto Santo Stefano, Grosseto, Italy), and the 1st Vocational High School of Konistres (Evia, Greece), implemented the project simultaneously in both countries. Experts from both countries, as well as other EU countries and Canada, joined a webinar series to share inspiring environmental education initiatives from the Mediterranean region, North America, and the Arctic.
A Local Sea Network of organizations, linked to the Blue Economy sector, was set up to promote the exchange of good educational practices and the development of common initiatives for the protection and conservation of our seas. More than 120 students from the two Nautical Schools participated, and presented their work at the end of each educational phase:
- The Italian Institute created a mural art project the “Art for the Sea”, which combined science, artistic expression to inspire positive change and promote sustainable practices.
- The Greek Institute completed a collective project in which students conducted in-depth interviews with the personnel of Environmental Protection Engineering S.A. (EPE), a company based in Greece offering environmental protection services and products, including emergency response services for oil and chemical spills.
Both schools successfully joined the European Blue Schools Network.
A guide for educators was also compiled providing directions for the exchange and replication of the initiative as well as suggestions for the participation of interested parties (educators, maritime professionals, staff of environmental associations, etc.) in the teaching of ocean and climate topics.
The English version of the guide can be found HERE.

Note to editors:
“RIDE THE WAVE” – Ocean and Climate Literacy for Nautical High Schools project is funded by the European Erasmus+ Program 2021-2027- KA210-SCH-000049369 and serves as a powerful tool to raising awareness on the importance of protecting Mediterranean ecosystems and our shared cultural heritage and creates a model of cooperation between schools and environmental organizations to promote ocean and climate literacy.
For more information, please visit the official website and Facebook page of the project.

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Τhe 22nd NAVIGATOR 2023 – THE SHIPPING DECISION MAKERS FORUM, under the theme #NavigateTheChange, will take place on Thursday, November 9 th , 2023. This exclusive event will unfold at the iconic Stavros Niarchos Foundation Cultural Centre (SNFCC) in Athens, commencing at 09.30hrs and concluding at 14.00hrs.

The Forum aims to bring together industry leaders and decision-makers to envision the “shipping industry of the next 20 years”. Given the forthcoming years are expected to be filled with experiments and dilemmas, the event seeks to gather insights and perspectives on the current landscape of the shipping industry. Participants can also  focus on specific subjects, with moderators prepared to address their questions.

Opening Remarks will be addressed by Secretary General for Insular Policy and Aegean - MINISTRY OF MARITIME AFFAIRS & INSULAR POLICY, Mr. Manolis Koutoulakis, and the Ambassador of the United States to the Hellenic Republic, H.E. George J. Tsunis.

This year’s forum will be consisted of the following 3 panels, delving into the economic aspects of the industry, technological trends, and innovations in the shipping world. In between each panel, the results, and final conclusions of the closed discussions of the 22^nd NAVIGATOR 2023 – THE SHIPPING DECISION MAKERS FORUM will be presented, covering the following themes:

1) DECARBONISATION,
2) MARITIME LOGISTICS, SUPPLY, PURCHASING & FORWARDING,
3) SMART SHIPPING,
4) INTERSECTION OF HUMAN PERFORMANCE, TECHNOLOGY &TRAINING,
5) HUMAN ELEMENT,
6) ESG, and finally
7) KNOW YOUR CLIENT.

1. U.S. oriented panel “Current trends and SEAsing opportunities”, which will provide a comprehensive overview of the current maritime landscape, with a focus on opportunities for business and industry trends.
2. Organizations and Institutions panel “Navigating Sustainable Seas: The Global Perspective”, demonstrating a comprehensive view of the global maritime industry’s efforts and challenges in achieving sustainability, with a focus on international collaboration, regulatory frameworks, eco-friendly technologies, and energy.
3. Panel with ship owning companies, “Masttechnologies and Change: Navigating Through Experiments and Dilemmas”, which will would deliver an inclusive overview of how industry leaders and experts are navigating the evolving maritime landscape, experimenting with new strategies and technologies, and addressing the dilemmas and challenges that come with change in the industry.

For more information and the Forum’s draft agenda, please visit:https://navigatorltd.gr/forums/22nd-navigator-forum-2023/
About NAVIGATOR SHIPPING CONSULTANTS: Established in 1991, NAVIGATOR has been a mainstay of the Greek shipping sector for more than 30 years, developing a robust network of towing companies and ship agencies around the world, offering tailor made programs to the Ship owning & Ship management Companies in more than 1,400 ports worldwide, thus significantly reducing their port costs.  «NAVIGATOR- The Shipping Decision Makers Forum», one of the most traditional events, is organized on an annual basis since 2001, bringing together Shipowners, Executives and Managers of the Shipping Industry worldwide to exchange views and ideas on the most crucial matters of Shipping.

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With the aim to provide assistance and information to its members carrying out their business better, Intercargo held the association's meeting in Athens four years after the last event that took place in Greece. The technical and executive committees of Intercargo discussed the latest developments on the decarbonization, safety and quality of bulk carriers. The full and associate members gathered at the Divani Hotel in Vouliagmeni, Athens for three days in an attempt to share their experience and align their efforts towards the future changes in shipping.
In view of Intercargo semi-annual event the association held its AGM meeting and a dinner reception with exceptional guests.
In the context of this unique event the president of Intercargo Mr. Dimitrios Fafalios and the management committee Dr Kostas Gkonis, Tom Keenan, Spyros Tarassis, Capt Uttam Upmaritime Jaiswal Capt Jay Pillai and Dimitris Monioudis gave a press conference on the latest challenges in shipping.
Mr. Dimitrios Fafalios, Chairman of Intercargo, mentioned that Intercargo has 159 full & 92 associate members. The Greek shipping companies are a significant part of Intercargo’s membership.
The 1^st topic that was discussed was the decarbonisation path and the practical implementation of IMO’s environmental targets.
Intercargo advices its members to monitor the efficiency of their fleet on a daily basis adopting saving systems and other special equipment. Regarding EU ETS puts a lot of bureaucracy especially in small and medium shipowners.
Mr. Fafalios said: “Aside of decarbonisation we are not taking our eye from safety and quality. All shipping stakeholders, shipyards, class societies, flag states etc have tried to solve the problem of loss bulk carriers taking timely and precisely actions to inform the industry regarding safety.
IACS took the initiative to maintain good records, work on crew safety and management of dry bulk carriers introducing common structural rules.
Rightship formed a self-assessment organization for the safety of bulk carriers in co-operation with Intercargo totally independent which has a wider view on decarbonisation, safety and quality.
The members of the management committee referred to Intercargo’s actions during covid-19 promoting seafarers as key workers for the international trade.
It is important to understand that without seafarers the industry cannot operate however in some occasions seafarers are treated like criminals and this is not right and fair.
We cannot attract young people in the industry if the port and security authorities do not treat them fairly. In addition to these vessels must be operated by qualified seafarers. It was also mentioned that dry cargo shipping carries 90% of goods so it is crucial for the world economy. Shipping always adopts the new technology to deal with the difficult world and local regulations. However, shipping has proved adaptive and moreover has retrofitted all necessary measures to achieve the targets of the energy transition.
In this framework Intercargo urges to develop infrastructure onboard and ashore for the adoption of alternative fuels following unanimous not local rules.

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With the aim to cultivate a culture of ESG excellence and discuss the challenges faced by the shipping industry towards a sustainable development, prominent and distinguished members of Greek shipping community were gathered on 20th of October 2023 to attend the 1st ESG CONFERENCE.
The event opened Helena Athousaki & Katerina Stathopoulou, Principal Organizers of ESG Shipping Awards and addressed by Manolis Koutoulakis, Secretary General of Ministry of Maritime Affairs and Insural Policy, Dr. George Pateras, President of Hellenic Chamber of Shipping and Julia Tsetis, President of UN Global Compact Network Greece.
The conference kicked off with the opening remarks of Mr. Koutoulakis, Secretary General of Ministry of Maritime Affairs and Insular Policy. “The Ministry of Shipping and Island Policy, along with the Hellenic Chamber of Shipping are supporting the ESG Shipping Awards, in order to encourage and promote the shipping industry’s effort to incorporate sustainability as a critical and fundamental part of its strategy.”
Dr George Pateras, President of the Hellenic Chamber of Shipping (HCS) stressed the importance of the ESG reporting and announced the HCS guide to ESG reporting.
Mrs. Julia Tsetis the President of the UN Global Compact Network Greece, highlighted “We have developed a series of initiatives that help shipping companies to progress towards their sustainability goals by providing information, education, open dialogues and actions.”
Attendees had the privilege to listen to inspiring speeches from seven informative panels led by recognized experts in the field. The event fostered a collaborative environment where industry professionals shared their companies’ best practices, challenges, opportunities and the pressing ESG issues facing the industry.
The first Panel of speakers presented the topic “Leadership on ESG, Sustainability Integration, Building on ESG Strategy, Stakeholder Engagement and Reporting ESG Performance. Dimitrios Vastarouchas, DCOO CSO & Technical Director of Danaos Corporation, Dimitris Balamatsias ESG Manager of Neptune Lines Shipping, Georgia Fardellou Optional and Strategic Project Manager of Star Bulk Carriers Corp. and the Moderator Katerina Ronga, Partner, Risk Advisory, Sustainability and Climate Leader, Deloitte shared their thoughts and experiences on the ESG development.
Valeria Sterpos Patner of BAIN & Company presented the topic “Sustainable Fuel Transition in Shipping”.
Regarding the importance of EU ETS & Climate law, Artemis Polemis, Chemical Engineer Shipping GHG Manager, of EMICERT ESG referred to the latest trends and developments.
The topic “Preserving the environment” was presented by the following shipping senior executives: Evi Politi, R&D Director of Danaos Corporation, Katerina Sarri Finance Manager & Controller of Euronav Ship Management, Catherine Prifti DPA-HSQE Director of Laskaridis Shipping, Stavros Niotis Chief Sustainability Officer of Prime Marine, Vasileios Petousis Energy and Sustainability Officer of Seangery Maritime Holding Corp and Moderator: Vassilis Dimoulas Technology & Innovation Director Bureau Veritas.
The speakers performed a stimulating and productive discussion pointing out that the shipping companies have to follow a strategy suppliers’ engagement, transparent environmental goals, involvement in IMO regulations such as CII for the reduction of greenhouse air emissions.
Another significant ESG element is the Decarbonisation path of shipping incl. Alternative Energy, Eco efficiency, AI Decision making tools.
The following speakers gave their perspectives on the pre mentioned topic:
Kim Diederichsen, CEO Anemoi Marine Technologies, Michael Androulakakis Technical Manager of Avin International, Angus Whinston Communications Director of Deepsea Technologies, George Kotsyfis Technical Manager of Diana Shipping Inc, Elena Visone Naval Architect and Marine Engineer of Grimaldi Group, Fotis Belexis, Technical Director of Star Bulk Carrier Corp and Moderator: Andreas Kyrilis Partner BAIN & Company.
The speakers said that have adopted monitoring techniques for optimizing the vessels’ performance, retrofitted energy savings devices to achieve decarbonization goals towards the reduction of CO2 emissions. Other measures include vessel voyage optimization programs using AI and delivering newbuilding projects equipped with dual fuel engines such as ammonia powered ships and alternative fuels. The speakers also commented that regulations are moving rapidly despite the technology uncertainty putting the car before the horse, metaphorically speaking.
Viktoria Diamantidou Carbon Sales & Trading, of CF Partners referred to the EU ETS Carbon Markets and Shipping and the panel of experts that followed focused on Investing in People and more particular on Equal opportunities, Wellbeing of employees, People Development & Rewarding.
The panel included George Varinos, Managing Director of Century Bulk Carriers Management Co, Maria Christina Tsemani Chief People Officer of Diana Shipping Inc, Gavriella Anagnostou, HR Manager of Neptune Lines Shipping and Managing Enterprises SA and Moderator: Konstantinos Oikonomou, CEO Marine Tours.
The Panel Discussion Five examined the issue of Promoting Health & Safety and more specifically the topics of Developing H&S Program, Building H&S culture, Reporting H&S performance. The above aspects were presented by Apostolos Skembes HSQE Manager - DPA - Training Manager of Arcadia Shipmanagement Co. Ltd, Petros Vikos, HSQE Manager of Latsco Shipping Limited, Dimitra I. Kourmatzi, Head of ESG, Regional Compliance Officer EMEA & APAC of Survitec Group and Moderator: Kostas Karavassilis, Director UK P&I.
The New ESG Reporting Standards (IFRS S1, S2, & CSRD) was presented by Katerina Ronga, Partner Risk Advisory, Sustainability and Climate Leader, Deloitte.
The Panel Discussion Six was about Supporting the society including Social responsibility, Inclusive work environment, Community contribution, Code of conduct.
The above issues were discussed by Christophoros G. Vallianatos, Managing Director of Chandris (Hellas) Inc, Ioanna Skondra Marketing Manager & ESG Ambassador of Chandris (Hellas) Inc, Jenny Christodoulou, HR & Strategic Planning Manager of Laskaridis Shipping, Christie Bodouroglou Managing Director of Stem Shipping Services and Moderator: Michalis Pantazopoulos, Managing Director, Liberian Registry.
The last panel of discussion focused on the Acting Responsibility, Corporate Governance, Transparency and Accountability, Business Ethics, Stakeholders Communication.
The speakers were Tasos Marinopoulos Internal Audit Director & Compliance Officer of Danaos Corporation, Margarita Veniou Chief Corporate Development, Governance & Communications Officer of Diana Shipping, Korina Tapaktsoglou, Chief Financial Officer of Pioneer Marine Group and Moderator: Pakis Papadimitriou, Head ESG, Eurobank.
Conference Closing Remarks and Launching of ESG Shipping Awards 2024 were held by Helena Athoussaki & Katerina Stathopouloy, Principal Organisers of ESG Shipping Awards J.A.A.J. (Jan) Fransen, Chairman of Judging Committee, ESG Shipping Awards.
At the closing of THE CONFERENCE, the organizers announced the ESG Shipping Awards 2024 INTERNATIONAL on 20 May 2024 in Athens.

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SNAME honors its supporters in an award ceremony that was organised by the society at a night of maritime excellence and knowledge sharing.
SNAME awarded the following companies: MAN Diesel, ELCKO, Alba, ICS Greek Branch, Det Norske Veritas, Bureau Veritas, Capital Ship Management, Arcadia Shipmanagement, Atlantic Bulk Carriers, MacGregor, Lloyd’s Register, ABS, Liberia Registry, Wartsila and The American Club.
The event took place at the new premises of V.Ships in Piraeus.
Prior to the award ceremony a panel discussion took place with topic: “If you were the owner, what choices would you make in the new environment”.
The panel included: Mrs Konstantina Aravantinou, Sales Manager Wartsila, Mr. Vassilios Dimoulas, Technology & Innovation Director Bureau Veritas, Mr. Nikos Economou, General Secretary of “Association of Banking and Financial Executives of Hellenic Shipping”, Mr. Costas Maounis, Projects Director Polembros Shipping, Mr. John Papazafiriou, Director BU1 Franman, Mr. Spyros Sofianos, Head of Sales MAN ES, Mr. George Zindros, Manager Business Development ABS and Moderator was Professor Dimitris Lyridis, National Technical University of Athens.
The speakers agreed that shipping companies have to adopt several steps towards decarbonisation such as voyage planning optimization and energy onboard savings.
The provision of bank Finance will be also directly connected with the sustainability reports of the companies. The most possible fuel choice will be LNG and biofuels or a blend of fuels which reduce dioxide emissions.
New technologies are also in place and shipping industry prepares for the next step which will be the option of non-carbon fuels produced by renewable energy.

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ERMA FIRST, a leading global provider of sustainable maritime solutions, has received the coveted South Korean flag Type Approval for its market-leading ERMA FIRST FIT BWTS.
Awarded by the administration of the Republic of Korea, the ERMA FIRST FIT BWTS is now one of the few non-domestic systems to hold such Type Approval, which is an essential requirement for systems being installed on South Korean flagged vessels.
Mr. Konstantinos Stampedakis, Co-Founder & Managing Director, ERMA FIRST, said: “ERMA FIRST has been supporting shipowners in Asia for many years and this Type Approval opens up a whole new market for the ERMA FIRST FIT BWTS ahead of the D2 Ballast Water Performance Standard deadline, in September 2024.
“We are delighted to have received this approval from the administration of the Republic of Korea. The addition of the Korean Type Approval means the system is now triple-accredited where Korean-flagged vessels are concerned, as it also holds IMO and USCG Type Approvals.”
Mr. Seong-Kyu Chae, Vice President, Magna Mare - ERMA FIRST’s agent in South Korea - added: “This is a meaningful milestone for ERMA FIRST in the Korean market. According to Korean Ministry of Oceans and Fisheries, around 9,000 vessels fly the South Korean flag, 2,000 of which are merchant ships. There is a huge opportunity to support vessels under the South Korean flag to meet the BWMS D2 standard using ERMA FIRST’s reliable and proven technologies, and Magna Mare is proud to serve ERMA FIRST and its customers in the region.”
The ERMA FIRST FIT BWTS is an advanced modular system suitable for both newbuild and retrofit projects. Credited with setting the industry benchmark for sustainable ballast water treatment, the major components of the system include a high-end backwash filter and electrolytic cell that perform to the highest standard. Covering an extensive capacity range of 50 – 3740 m³/hr and certified for operation in the most challenging conditions, ERMA FIRST FIT BWTS is the ideal solution for all types and sizes of ships.
ABOUT ERMA FIRST: ERMA FIRST - Preserving and Protecting Marine Ecosystems
Founded in 2009 and headquartered in Greece, ERMA FIRST is a leading manufacturer of ballast water treatment systems (BWΤS) and sustainable marine equipment solutions. Our robust systems and solutions ensure worldwide compliance, provide operational simplicity and reduce operational expenditure.
ERMA FIRST's customer-centric approach offers flexible and convenient servicing through a trusted network of certified engineers worldwide. ERMA FIRST provides sales, maintenance and training to clients via a network of offices in 46 countries.
ERMA FIRST offers a complete range of ballast water treatment solutions (BWTS), holding USCG & IMO Type Approvals. In addition, ERMA FIRST is an experienced manufacturer of pioneering sustainable marine equipment solutions including: an advanced Alternative Maritime Power (AMP) solution – BLUE CONNECT – and a new Energy Saving Device (ESD) - FLEXCAP - which builds on the proven capabilities of propeller cap fins to optimise maritime efficiency and sustainability.
ERMA FIRST is also currently developing an amine absorption-based Carbon Capture and Storage (CCS) system that was recently awarded an Approval in Principle (AiP) from DNV.
ERMA FIRST won the Lloyd’s List Technical Achievement Award (2013), the GREEN4SEA Technology Award (2016) and GREEN4SEA Sustainability Award (2023).

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Maritime and commercial law firm, Tatham & Co., proceeded to the expansion into the Greek market with the addition of a senior Athens-based lawyer to its growing team.
To mark the opening of the office in Piraeus the law firm organised an exciting reception with many prominent guests at the Istioploikos omilos restaurant.
Ioanna Vitta who was appointed as the head of Piraeus office has over 30 years of experience, specialising in dry shipping. A qualified Greek and English lawyer, Ioanna is also a well-regarded and well-known figure in Piraeus and Athens.
The move comes following the addition of Chris Farmer, a solicitor Master Mariner, who joined the team earlier in the year to increase the firm’s Admiralty capability. Bringing in an experienced lawyer based in Greece is the next step for Tatham & Co. in consolidating its business in this area and in supporting its Mediterranean clients and the wider shipping industry.
Tatham & Co. Senior Partner Simon Tatham said: “The recruitment of Ioanna Vitta marks an important moment in the firm’s development, and we are both delighted and excited.
Being retained regularly by blue-chip Greek shipowners, having a highly experienced and respected solicitor on-hand in Greece is a perfect fit for us. Ioanna is a senior member of the Athens legal community, she has a strong following herself and is known, respected and instructed by owners and the Piraeus based Clubs alike.
Most importantly for the firm’s clients, Ioanna will have the back-up of a strong and growing team in London covering dry, wet, marine insurance and special situations. The Admiralty and Crisis Response team has been strengthened on the wet side by the arrival of Chris Farmer [from Inces] and with a further senior ex-Master Mariner solicitor joining us in the New Year, we will be working closely with Ioanna to ensure that our Greek clients are given the best possible service.”
Led by founding partners Stephen Askins, Simon Tatham, and James Hickland, Tatham & Co. continues to grow and win recognition in the industry and this new hire further strengthens its reputation and reach.
Recent accolades include being honoured by the Law Society as the ‘best in its category’ in 2021, as well as the recent success in the Court of Appeal in the widely reported Tilawa case involving treasure salvage and issues of sovereign immunity. 
About Tatham & Co
The law firm comprised of a team of specialist lawyers who lead with knowledge, integrity and passion for their industries. These industries include shipping, aviation, international trade and insurance. Our combined legal and practical experience means we are focused on solutions, and on giving clear advice to allow commercial decisions to be made quickly and confidently. We are a leading maritime law firm because we have a modern, flexible, progressive approach, and continue to grow and evolve.
We are based in the City of London, but operate globally, with clients, professional knowledge and relationships in a large number of countries.
Within our team, there are well known and established leaders in dispute resolution, admiralty, piracy and maritime security, shipbuilding and trade/commodities. We are proud to have a team of individuals who have identified gaps and carved out niches of expertise that people cannot find at the same level anywhere else.

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The World Maritime Academy (WMA) and the International Ship Suppliers & Services Association (ISSA), a preeminent trade association representing the global ship supply industry, are thrilled to announce a groundbreaking collaboration aimed at delivering top-tier online training to the worldwide ship supply and procurement sectors. The maritime industry is about to witness a paradigm shift in education and training, as WMA and ISSA join forces to provide an unmatched learning experience that leverages the expertise of ISSA and the educational capabilities of WMA. This partnership promises to raise the bar for ship supply and procurement training, benefiting both ISSA members and those outside the association.
WMA, renowned for its commitment to maritime education and training, is proud to unite with ISSA to enhance the proficiency of ship supply and procurement professionals globally.
By tapping into the collective experience and knowledge of ship supply experts from both organizations, this collaboration aims to revolutionize the industry, ensuring that individuals and organizations can access the best-in-class training to excel in the maritime sector.
The International Ship Suppliers & Services Association (ISSA) itself boasts a rich history, having been established in 1955 and celebrating its Diamond Jubilee in 2015. With nearly 1,500 ship suppliers represented across the globe, ISSA is an influential and invaluable entity in the maritime world. ISSA's 40 national associations of ship suppliers as full members and associate members in 51 countries where no national association exists reflect its extensive global reach.
Moreover, ISSA has achieved the prestigious status of a Non-Governmental Organization (NGO) with both the International Maritime Organization (IMO) and the United Nations Conference on Trade and Development (UNCTAD). This recognition underlines ISSA's contributions to sustainable and efficient maritime trade and commerce.
ISSA's dedication to quality extends to its Secretariat, which is certified to the ISO 9001:2015 quality standard, ensuring that its services adhere to the highest standards of excellence. This collaboration between WMA and ISSA heralds a new era of professional development and education within the maritime industry. As the global maritime community faces evolving challenges and opportunities, the synergy between these two industry leaders is set to empower ship supply and procurement professionals with the knowledge and skills needed to thrive in a dynamic environment.
For more information about this collaboration and the courses offered, please visit https://ewma.com/ and https://shipsupply.org/
About World Maritime Academy (WMA): The World Maritime Academy (WMA) is a recognized institution committed to providing high-quality maritime education and training. With a focus on excellence, WMA equips individuals and organizations with the knowledge and skills necessary to excel in the ever-evolving maritime industry.
About International Ship Suppliers & Services Association (ISSA): The International Ship Suppliers & Services Association (ISSA) is a global trade association representing ship suppliers and service providers. Established in 1955, ISSA is at the forefront of promoting professionalism, quality, and sustainability in the ship supply industry.

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With the presence of Pelle Sommansson, Chief Operating Officer and EVP of ZeroNorth and colleagues from Denmark ZeroNorth celebrated the opening of its office in Athens in the context of the company’s expansion around the world.
The managing director of the company Mike Konstantinidis in his address said that the company provides decarbonisation solutions in shipping taking advantage of the vast experience and knowledge of its employees and its renowned clients like Marlink and Cargill. ZeroNorth employs 300 highly expertised people and serves 4.000 vessels.
The decision to establish an office in Athens lies with the company’s strategy to operate close to the customers and reflects ZeroNorth’s commitment to Greek shipping industry, the biggest maritime industry with huge expertise and talent.
In his speech Mr. Sommannsson expressed his excitement for the office opening in Athens, as he said ZeroNorth shares an ultimate vision to contribute to the green global trade and the climate change.
ZeroNorth help towards to decarbonisation and digitalization as these two challenges goes hand in hand in order to measure and analyse the various vessel’s data.
Finally, he extended his appreciation to the Greek team who will develop further the functionality and reliability of the ZeroNorth platform.
ZeroNorth as a leading technology developer with a strong foundation and support, offers a leading multi-service platform that harnesses the power of data to create insights that enable voyage, vessel and bulker optimization and inform better decision-making for stakeholders across global trade.
By blending cutting-edge data-driven technology with human expertise, the ZeroNorth platform provides solutions that are helping the global shipping industry achieve optimal commercial performance and reduce its carbon emissions.

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The conference opened a highly esteemed panel of shipping personalities who discussed the regulatory changes and the strategic decisions about capital investment in shipping.
Mr. Harry Vafias CEO of STEALTHGAS moderated the conversation and asked to comment the condition of the shipping market and where to invest.
Mr. Petros Pappas chief executive officer of Star Bulk Carriers answered that he wouldn’t invest in shipping and wait as all sectors containership tankers gas carriers and drybulk experience a strong market and the order book is quite high in certain segments.
However Dr. John Coustas president & CEO Danaos Corp said that it makes sense to invest in fuel efficient vessels and in decarbonization projects like refitting ships. Overall he agreed with Petros Pappas in maintaining a “wait and see” strategy.
Mr. Jerry Kalogiratos CEO and Director of Capital Product Partners said that despite the high order book in LNG and gas carriers the demand for such cargoes will increase in years to come and investing in the decarbonization of shipping with dual fuel vessels will pay dividends for those who will focus on the energy transition.
In addition Capital has invested in ammonia carriers and CO2 carriers as the carbon capture market and demand for alternative fuels will expand in the next years.
Mr. Leon Patitsas founder & CEO Atlas Maritime suggested investing in tankers as the orderboook is still low although people is reluctant to build new ships. He expects that exports of oil will increase the next years so tankers market will improve further.
In the car carriers market there is a huge potential because of the increased productivity of electric cars.
Mr. Elias Sakellis chief investment officer of Borealis Maritime told that the most attractive sector is offshore vessels that facilitate oil exploration platforms and other activities as the order book is very limited.
Regarding the way of financing investments in shipping the speakers told that they follow a policy of moderate leverage as the interest are currently quite high. Leon Patitsas referred to CM LEMOS who sustained the crisis of 80s because he didn’t have any loan.
Harry Vafias asked if the conflict in Israel is a bad development for shipping.
Petros Pappas explained that geopolitics are influencing shipping in the most of occasions leading upward the freight rates even more. Dr. Coustas remarked that today markets have the ability to balance even better than in the past and absorb the impacts from the geopolitical events.
All speakers agreed that escalation from Iran will have negative impact but they hope that the situation will not spread further although geopolitic events are very helpful for shipping.
ESG strategy
The speakers of the next panel referred to the technology progress and the mission towards clean shipping. The discussion was moderated by Dimitris Sakipis head of ESG & Maritime Sustainability Center PwC Greece.
Tom Lister chief commercial officer & head of ESG of Global Ship Lease said that from a business perspective we have to adopt a very active approach in the decarbonization of shipping.
Charis Plakantonaki chief strategy officer marked that besides the regulations and the rules are imposed by the various governmental bodies incl. IMO the shipping industry has to follow an ESG policy in order to maintain the requirements of the charterers and the financial institutions for more sustainable operations.
Speakers also insisted that decarbonization may happen sooner than it is expected as the society continues to ask for environmentally conscious transportation.
It was also mentioned that investors are concerned about ESG standards but not all of them yet.
Alexandros Hadjipateras said that there are massive opportunities in front of us in terms of decarbonization of shipping and we must be positive taking all the necessary measures to reduce air emissions and increase industry’s energy efficiency.
Speakers agreed that there are technical solutions available for energy efficiency that must be embraced by the shipping companies and not expecting the charterer or the consumer to pay the cost of those technical improvements.
Mr Hadjipateras mentioned that it’s important to work together with the engine manufacturers and shipyards to develop safe, cost efficient alternative fuels in the immediate future.
In the next session Alexia Hatzimichalis partner and head of Athens office Watson Farley & Williams interviewed Aristides Pittas CEO of Euroseas /EuroDry who represents a tradition of 4 generations in shipping. He described the last 25 years achievements and the difficult moments.
Mr Pittas started Eurobulk with 2 ships and tried to grow the company cooperating with other partners. In 2005 decided to list his company in the US secondary public market raising 20$ million.
The American investors at that time didn’t know the shipping market. The decision to split in two different listed companies separating drybulk vessels from containerships was quite successful as the capitalization of the companies doubled in value. Mr Pittas told that we follow a strategy of being aligned with our common shareholders and we are proud of the way of moving ahead being conservative ethical and caring of our employees.
Describing the difficulties he mentioned 1997 the Asian crisis, 2009 collapse of Lehman Brothers and 2020 Covid -19 period. He also explained that globalization is here to stay and advice the young generation to keep an eye what is happening in the world and he expressed his optimism for Greek shipping.

Banks must remain disciplined
Drybulk shipping anticipates to a healthy market
The dry cargo supply fundamentals were discussed by a highly respected panel of shipping experts including Stavros Gyftakis CFO Seanergy Maritime, Simos Pariaros chief administrative officer of Euroseas, Yiannis Kourkoulis vice president of Best Oasis and Nikolas Triantafyllakis CEO of W Marine. The panel was moderated by Eva Tzima head of Research & Valuations Seaborne Shipbrokers.
Speakers pointed out that slowing global growth and shipping costs are hampering demand and the war and geopolitical events cause a slowdown in the economic confidence.
However the dry bulk cargo sector currently enjoys a strong freight market and especially the stock listed companies offer great investment opportunities and may give double digit returns in the near future if the charter rates continue to improve. We have also to consider that shipbuilding will look much different in the next 20-30 years so the dry bulk cargo companies have to invest much more earlier than it is required on retrofitting innovative energy savings systems, adopting digitalization and embracing ESG standards.
Arlie Sterling president of Marsoft and Anna Stablum business development director of ClimeCo presented the topic of ETS and the global regulated markets.

Shipfinance

The topic of financing growth in a strong market cycle was discussed by a panel of bank’s senior executives and financial analysts including George Tzelepis director shipping of Credit Susie’s, Theofanis Moustakatos head of shipping National Bank of Greece, Ilias Katsoulis head of shipping Deutsche Bank, Hugues Calmet DNB Bank, Nicholas Pavlidis head of shipping Bank of Cyprus and Michael De Visser. The discussion was moderated by Chris Vartzis Stephenson Harwood.
The speakers pointed out the bank finance continues to support Greek shipping despite a plethora of alternatives arising over the past 25 years. The bank will remain to be the main source of shipping investments despite the high interest rates and environmental criteria on financing.
Today banks borrow loans based on the ability to produce cash flow and following a relationships strategy and Know your customers approach. It was mentioned that shipping banks must be disciplined flexible and patient in the next years as Greek shipping companies will take delivery of 250 newbuilding ships with a value of around $20m.
Today the valuation method of banks include ESG criteria, energy transition initiatives such retrofitting of energy efficiency systems and the cost of debt shouldn’t be the main driver but the financial viability of the project.
Responding to the changing landscape of shifinancing banks must be committed and maintain a diversified and international portfolio. Smaller banks have to adapt faster in the rapidly changing shipping environment. On the other hand as advisors bank’s must encourage their customers to adopt a corporate structure strategy and be prepared for what is coming.

30 years of TEN

During the event NYSE listed TEN marked its 30 year anniversary in the sector of the oil sea transportation. The president of TEN Mr. George Saroglou remarked that: “TEN started with 4 tankers and today operates a versatile fleet of 68 modern crude, oil, and product tankers, LNG, and shuttle tankers. TEN has built totally 94 vessels and granted $2,5 billions net income. TEN has under construction another 9 tankers”.

Raising capital for shipping
After a long pause there appears some interest again from investors in shipping, both public and private. However despite healthy cash flow, sustained dividends and what looks like continued strong fundamentals in most sectors, many stocks still trail NAV.
In this context a listed shipping company can raise money from the stock market however the most of those companies do not need funds as they do not have new projects in process.
In addition to this they can also raise money from the debt market where the rates are higher than other options.
There is always access to capital irrespective of the cyclicality of the market however currently the shipping market do not encourage investors to fund new projects as the ships values are moving well above NAV.
All those issues were discussed by Chiara Caprioli Luxembourg Stock Exchange, Omar Nokia Jeffries Harry’s Kosmatos corporate development officer of TEN, Fotis Giannakoulis investment banking Fearnley Securities and Robert Lustrin partner head of shipping capital markets of Reed Smith.

Greek shipping & US Capital markets
Douglas Navrinac global head of maritime investment banking Jeffries, Christopher Thomas CFO of TC Holdings and Edward Horton from Seward & Kissel discussed Greek shipping and US capital markets relationships for the past 25 years, lessons learned and way forward.
They said that the listed shipping companies which focus on operating a diversified fleet are more successful and there is a lot of room for expansion for small shipping companies provided that they have an ambitious and clear development strategy.

Chinese leasing
The next topic was about Chinese Leasing as a solution for Greek owners followed by a Panel Discussion that included Linna Fan, Head of Shipping Finance Division, BOCOM Financial Leasing Co., Ltd.
Emily Chen, Director of Europe & America, Ship Leasing Dept., AVIC International Leasing Co., Ltd
Yi Yang, Managing Director, Head of Origination Team, Shipping Leasing Dept., CMB Financial Leasing Co., Ltd, Christoforos Bisbikos, Partner and Head of Hong Kong Office, Watson Farley & Williams.
Moderator was James Stove-Lorentzen Jr, Managing Partner, NorthCape Pte. Ltd.
The topic of Seeking Chinese certainty in a chaotic era presented by Xin Man, General Manager - Business Development and Operations Dept., Seacon Shipping Group Holdings Limited.

Non- bank financing

The issue of Non-bank financing was discussed by Yannis Kariofyllidis, Chief Operating Officer, Australis Maritime Limited, Iraklis Tsirigotis, Director of Origination, Neptune Maritime Leasing, Nicholas Petrakakos, Partner & Managing Director - Maritime & Offshore, Investment Banking, Alantra, Alexandros Valentis, Ship Finance Director, Transport Capital (Greece) Inc., Wilhelm Magelssen, Partner & Fund Manager, NRP Maritime Asset Management AS, Moderator: Vassiliki Georgopoulos, Partner, Watson Farley & Williams . Speakers said that there are many sources of non-bank financing and these have become core for a large segment of the shipping industry. Larger and smaller owners, larger and smaller deals are all within the interest zone of these non-bank lenders. Non banking financing tend to become the norm for owners big and small and it is important how to handle increased pricing, assessing what is safe leverage and ticking the right profile.

Greek shipping highlights

The last panel of speakers focused on Greek shipping highlights over 25 years and what is yet to come. The above topic was presented by Evangelos Chatzis, Chief Financial Officer, Danaos Corporation, Pankaj Khanna CEO Heidmar Inc., Theo Xenakoudis, Chief Commercial Officer Managing Director - Piraeus Office IRI/The Marshall Islands Registry, Alexis Stephanou Chief Financial Officer Goldenport Group of Companies.
Moderator was Nigel Bowen-Morrris, Managing Partner, Stephenson Harwood, Greece.
The conference theme was SHIPPING AND FINANCE MAKES THE WORLD GO ROUND and the fact is that Greek shipping is the most influential on the planet.
All panelists recount highlighted of years gone by and what to expect in the next decade from Piraeus, Glyfada and the northern suburbs.

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