In the context of further strengthening the cooperation between the two organizations, the Cyprus Shipping Chamber signed a “Cooperation Agreement” with the University of Cyprus, on Friday 4 August 2023.
The signing ceremony took place at the Chamber's offices in Limassol, and the “Cooperation Agreement” was signed by the President of the Cyprus Shipping Chamber, Mr. Themis Papadopoulos, and the Rector of the University of Cyprus, Dr. Tasos Christofides. 
The Agreement formalizes the cooperation between the two organizations in areas of common interest and aims to facilitate the further strengthening of the existing excellent cooperation.  
With the signing of the Agreement, the two parties formally agreed to cooperate in areas such as Students’ Practical Orientation Learning Experience, Training and Education in Shipping Related Courses, Research & Development activities, Information Exchange & Knowledge Sharing, and joint public relations activities for the benefit of both the University and Cyprus Shipping.

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The Columbia Group proceeds to its expansion into Indonesia with the aim of delivering its first-class manning solutions directly.
Columbia Shipmanagement (CSM) Indonesia will offer manning solutions in Indonesia and its surrounding regions, diversifying the crew pool on Columbia managed vessels and utilising the vast wealth of personnel resources that can be found there.
With more than 12million people employed in the maritime sector in the country, Columbia Group is proud to further its commitment and investment in its people with the expansion to Indonesia.
The news comes at an exciting time for the Indonesian maritime sector with a number of recent investments and developments in the region. The Indonesian commercial fleet has doubled in size since 2005, with shipping related business emerging as a leading sector of the Indonesian economy. These trends indicate the increasing offshore crewing supply emerging from the region - an opportunity that Columbia recognises and looks to utilise with the creation of CSM Indonesia.
President and CEO of Columbia Group, Mark O’Neil said: ‘It’s long been our ambition to fully establish the CSM brand in Indonesia, having utilised manning operations there for many years through third-party arrangements. We are excited to invest and foster the Columbia brand with strong local staff that share our vision.
"The Columbia Group is all about investing in the people within it, and the benefits of providing the best level of quality and welfare of our crew through our network of manning agencies are vast. We look forward to the launch of CSM Indonesia.”

Image: Mark O'Neil, President and CEO of the Columbia Group

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Ongoing investments in Athens office reaffirm LR’s commitment to Greek owners, ensuring access to the right people, knowledge, and support. 
Lloyd’s Register (LR) has further enhanced its capabilities in Greece and deepened its commitment to Greek clients, with the appointment of several additional global experts to its Athens office.  
Leading the charge is Elina Papageorgiou, LR’s Global Strategic Growth Director, who has been named LR’s Greece Vice President. In addition to leading our business in Greece, Elina manages a dedicated global strategic growth team spread across key maritime hubs. She has a wealth of global experience, having spent 20 years at LR and across the industry in a variety of roles in several different worldwide locations. Elina returns to Greece after leading LR’s UK & Ireland business. 
As part of LR’s drive to deliver technical excellence across its global network, Theodosis Stamatellos will now become the Global Technical Client Care Director, a newly created role that will see him and his global team support clients with around the clock technical assistance and guidance. 
Elina Papageorgiou, LR Greece Vice President, said: "I am delighted to be taking on this hugely important responsibility in Greece, especially at a time when the maritime industry is going through a fundamental transition. I am personally committed to strengthen relationships and connect our global capability to our local clients."
Trusted maritime advisers, partnering with clients to drive performance across the ocean economy.
Lloyd’s Register (LR) is a global professional services group specialising in marine engineering and technology. Created more than 260 years ago as the world’s first marine classification society, to improve and set standards for the safety of ships.
Today Lloyd’s Register (LR) is a leading provider of classification and compliance services to the marine and offshore industries, helping our clients design, construct and operate their assets to accepted levels of safety and environmental compliance.
It also provides advice, support and solutions on fleet performance and optimisation, voyage optimisation, enhancing its clients’ digital capability. LR’s digital solutions are relied upon by more than 20,000 vessels.
In the race to zero emissions, its research, technical expertise and industry-firsts are supporting a safe, sustainable maritime energy transition. 
Lloyd’s Register Group is wholly owned by the Lloyd’s Register Foundation, a politically and financially independent global charity that promotes safety and education.  

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Currently used by Shell Marine Lubricants customers, LubeMonitor will become available to shipowners and operators through Kongsberg Digital's marketplace for maritime applications, an ecosystem of numerous powerful applications supported by Vessel Insight SaaS-based data infrastructure.
The marine industry faces significant uncertainty as it navigates the energy transition. A focus on engine condition and reliability is key to supporting customers in managing this safely. LubeMonitor combines the data from onboard oil testing, engine operating conditions, Shell LubeAnalyst laboratory results, engine inspection photos and measurements. These are used to deliver insights based on OEM recommended guidance at a total fleet, vessel or cylinder level, supporting better management of reliability and informed decision-making for customers.
Last year, Kongsberg Digital and Shell Marine penned a Memorandum of Understanding (MoU), signifying their shared commitment to expedite decarbonisation initiatives and support the maritime industry's energy transition.
“This strategic collaboration expands the range of applications available to industry professionals on our marketplace and consolidates our collaboration with Shell. We are proud to work together with Shell, sharing a passion for digital innovation and commitment to decarbonisation. Offering Kongsberg Digital clients Shell’s LubeMonitor app is a testament to our close collaboration,” says Anders Bryhni, Vice President Maritime Products in Kongsberg Digital.
“Through this agreement we are not only broadening our collaboration, but also merging our digital innovation capability with industry expertise from both companies,” says Hariharasudhan Ramani, GM Digital Innovation at Shell.
Adding LubeMonitor to the app ecosystem is an initial step of a continuous shared innovation between Shell and Kongsberg Digital, who plan to develop and introduce further marketplace applications in the future.

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The best golf event in Greece and Cyprus, Greek Maritime Golf Event, will take place for the 9 th year, on September 7-10, 2023, at Costa Navarino, Messinia, drawing the attention of the global and Greek maritime industry. 
Golf & Maritime Industry join forces once again for a good cause The Greek Maritime Golf Event is a tournament that proves with actions its social work every year. This year, the top golf event will support Parents Association of Childrenwith Cancer “Floga”. More specifically, during this year’s award ceremony to the winners and winning teams respectively, on Saturday, September 9, attendees will have the opportunity to directly contribute the amount they wish by taking part in the raffles for significant lottery prizes. The total amount collected will be given to Floga, which stands by children suffering from cancer and their families, fights for better medical, mental, and social care for them, shares their fears and concerns, supports their struggle in any way possible, and vindicates substantial presence and in issues relevant to the medical, mental and social care of these children. For more information about Floga: www.floga.org.gr
In the context of this year’s event, the president of the Parents Association of Children with Cancer “Floga”, Ms. Maria Trifonidis stated: “Floga is a Panhellenic Association of parents of children with cancer that now counts 41 years of dynamic presence and social work alongside children suffering from cancer and their families, from diagnosis to the end of their treatment. In the guest rooms of Floga, 50 families from all over Greece are accommodated completely free of charge for as long as the children undergo treatment in the Oncology Departments of the Pediatric Hospitals of Athens. In childhood cancer, there is no prevention, but there is an early diagnosis that can lead to a cure for more children.
Together, we can break down prejudice. We thank everyone who in one way or another supports our work and enables us to realize our goals”.

Two Game Days & a Golf Clinic
This year’s event returns to the two signature 18-hole courses The Dunes Course and The Bay Course, in an idyllic landscape full of centuries-old olive trees with a stunning view of the Ionian Sea, the historic bay of Navarino and the picturesque port of Pylos. On Friday, September 8, participants will take part in the shotgun scramble held at The Bay Course. On Saturday, September 9, the golfing action moves to The Dunes Course for another shotgun scramble. Teams will compete to win the top three positions in the overall standings, whereas special awards will be given to individual players who will achieve the best scores in the “Longest Drive” and “Closest to the Pin” categories.
Finally, non-golfers will have the opportunity to attend the Golf Clinic that will take place on Saturday, September 9, at The Dunes Course.

Significant companies embrace the event
Greek Maritime Golf Event is attended by some of the most significant maritime companies from Greece and Cyprus, and many other important Greek companies that support the event.
IRI/The Marshall Islands Registry is the event’s Platinum Sponsor.
Mainline Shipping Company is the event’s Gold Sponsor.
Aegean Baltic Bank, Arrow Hellas, DNV, Marine Tours, and Swift Marine are the event’s Silver Sponsors.
Miele is the Official Sponsor.
Poseidonia Restaurant and Grey Goose are the Official Supporters.
Under Armour is the Official Clothing Partner.
Messinian Spa is the event’s Official Beauty Partner.
Minoa Water is the event’s Official Water.
Karalis Beach Hotel, Miran, Athi Rodi, and Daily Deli are the event’s Partners.
Costa Navarino, The Margi, Tsikeli Boutique Hotel Meteora, Iliada Sunset Suites,
Namaste Boutique Apartments, Marmari Bay Hotel, Ogarden Suites, Grand Meteora Hotel, and Platanos Steakhouse are the Auction Partners.
Boo Productions is the Audio Visual Partner.
The event will be held under the auspices of the Ministry of Tourism.
Greek Maritime Golf Event is organized by Birdie Events, through an initiative of the recognized Greek PGA golfer, Mr. Thanos Karantzias. The Sports Marketing Agency of the Year ActiveMedia Group has undertaken the event’s Golf Production.
The golf tournament is exclusively addressed to distinguished executives of the maritime industry.
#greekmaritimegolfevent #costavarino

Photo Credit: Greek Maritime Golf Event 

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ABB has received an order from the Guangzhou Shipyard International to supply Azipod® DI propulsion system for the new compact icebreaker of China’s Institute of Deep-sea Science and Engineering. The ship is expected to be delivered in 2025, after which it will begin to carry out operations in the Arctic and Antarctic Ocean.
A complete electric propulsion system including two 4.5 MW Azipod® units will drive the vessel through harsh weather and thick first-year ice to enable research on behalf of the Chinese Academy of Sciences. The 103-meter vessel will have a maximum speed of 16 knots, draft displacement of about 9,200 tons, and icebreaking capacity of 1.2 meters ice and 20 cm snow at the continuous speed of two knots. The ship is designed to operate both bow first and astern in ice with an enhanced Polar Class 4 (PC4) ice-breaking level. With a capacity of cruising range of 15,000 nautical miles, it can accommodate a crew of 80 people.
The new research vessel will be equipped to China Classification Society (CCS) LEVEL 2 notation standards on digitalization and fulfill Underwater Rated Noise SILENT A notation. SILENT A notation covers vessels that are ‘acoustically sensitive’, whose underwater noise emissions are controlled to benefit data capture and minimize ecological impact. The criteria are designed to limit high frequency noise while mitigating the practical challenges of reducing low frequency noise from propellers and the main engine.
“ABB has extensive experience and a strong local presence in delivering propulsion products, systems and support we can trust,” said Mr. Guangwei He, Vice Chief Engineer of Guangzhou Shipyard International Company Limited. “Polar Class vessels represent a growing area of expertise for GSI, and we are delighted to work with a reliable partner whose reference list for proven technology in this demanding segment is unrivalled.”
“We are honored to have been chosen to cooperate with GSI again,” said Kerry Yang, Local Division Manager, ABB Marine & Ports China. “This marks the 20th year since ABB Marine & Ports established itself locally in China and we continue to take great pride in localizing our products and services to meet regional requirements in the best possible way.”
The propulsion units supplied will represent ABB’s compact Azipod® DI range, which has been developed for both robustness and simplicity, and to offer strength and reliability in the most challenging ice conditions.
Working with shipbuilders worldwide, ABB technology has been installed on over 150 ice-class and icebreaking vessels. Azipod® propulsion system has been central in the success, establishing itself as the ice-going propulsion solution of choice over a 30-year period. With the electric drive motor situated in a submerged pod outside the hull and the ability to rotate 360 degrees, Azipod® units enable independent ice-breaking and significantly better maneuverability compared to shaftline solutions.
ABB’s Process Automation business automates, electrifies and digitalizes industrial operations that address a wide range of essential needs – from supplying energy, water and materials, to producing goods and transporting them to market. With its ~20,000 employees, leading technology and service expertise, ABB Process Automation helps customers in process, hybrid and maritime industries improve performance and safety of operations, enabling a more sustainable and resource-efficient future. go.abb/processautomation
ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated. Building on more than 130 years of excellence, ABB’s ~105,000 employees are committed to driving innovations that accelerate industrial transformation.

Image: Illustration of the polar research Icebreaker. Image credit, Guangzhou Shipyard International Company Limited

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The order of two state-of-the-art, largest CO2 carriers ever contracted constitutes not only a historical milestone for the Capital Group (‘Capital), but for the industry as a whole. It also underscores the company’s commitment to playing a leading role in the global decarbonization efforts, as actions always speak louder than words.
Capital Gas Ship Management Corp.  proceeded to the order of the two first-ever state-of-the-art 22,000-cbm liquid CO2 (LCO2) carriers at Hyundai Mipo Dockyard, S.Korea to be delivered in 2025-2026.
 The company expects the maritime transportation of CO2 to become a rapidly growing market, in which it aims to hold the premier position.
These trailblazing vessels are designed to carry up to 22,000 cubic meters of liquified CO2 at -55 degrees Celsius, making them unparalleled in terms of capacity and functionality, while also boasting the capability to transport ammonia and LPG, setting a new standard in trading flexibility. They are also equipped with numerous energy-saving devices and have been prepared among others for LNG and other alternative propulsion fuels, while they are carbon capture and AMP (cold ironing) ready.
The specification of these vessels is the outcome of meticulous planning and innovative execution of the company’s technical team, embodying the company's commitment to in-house expertise and progressive thinking. In choosing Hyundai Mipo Dockyard for this ambitious project, the company reaffirms the importance Capital assigns in aligning with top-tier partners, who reflect its own commitment to excellence.
This investment in state-of-the-art technology marks another landmark in Capital’s strategic commitment to building a futureproof “energy transition” fleet, as Capital controls a fleet of 18 latest generation dual fuel (DF) LNG carriers equipped with two-stroke engines and a fleet of six DF/LNG Suezmaxes and six DF/LNG Aframaxes/LR2s.
The signing of the agreement for the construction of the 2 pioneering LCO2 Carriers took place at Capital's offices, where, among others, the following were present: Mr. Evangelos M. Marinakis, Chairman and Founder of Capital Maritime & Trading Corp., Mr. Jerry Kalogiratos, CEO of Capital Product Partners LP, Mr. Spyros Leoussis, Chief Commercial Officer of Capital Product Partners LP, Mr. Nicholas Los, Director of Curzon Shipbrokers Corp., Mr. Miltos Zisis, Managing Director of Capital Gas Ship Management, Mr. Nikolas Vaporis, Chief Technical Officer of Capital Ship Management, Ms. Alexandra Xystra, Technical Director of Capital Gas Ship Management, Dr. Niki Kalogiratou Kalogiratou, Chief Communication Officer, Capital Ship Management, Mr. Stergios Stergiou, Green Shipping & Sustainability Director, Capital Ship Management. Representing Hyundai Heavy Industries were Mr. S.Y. Park, Chief Operating Officer & Senior Executive Vice President, Mr. Y.H. Yeo, EVP & MD of the London Office, Mr. S.D. Yoon, SVP & Head of Athens Office, Mr. J.H. Kim, SVP (HMD Sales). Mr. S.H. KIM, Senior Manager, Athens Office. Also in attendance was Mr. Sid Nair, Newbuildings Director of Clarksons, while Lloyd's Register was represented by Ms. Elina Papageorgiou, Vice President for Greece, and Mr. Andrew McKeran, Chief Commercial Officer. Marshall Islands International Registries were represented by Mr. Theo Xenakoudis, Chief Commercial Officer, and Mr. Vasilis Kamitsis, Regional Technical Manager. 
Capital Gas Ship Management Corp. currently operates a fleet of 20 modern LNG Carriers and 2 pioneering LCO2 carriers with a total carrying capacity of approximately 3.13 million cubic meters and a total dwt of 1.47 Tons.

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Operating in a firm market that underpinned yet another quarter of high profitability Stealthgas the Nasdaq listed company reported for the first six months the strongest performance on record, with an EPS of $0.71. CEO Harry Vafias of STEALTHGAS inc commented “During the second quarter we further divested assets in a rising market and will continue to diversify the fleet with the timely addition of bigger sized vessels. We were also largely focused on reducing debt, repaying $105million during the quarter alone, thus greatly reducing our interest rate expenses. At the same time our Board authorised us to repurchase shares that we started doing late in the previous quarter. Up to now we have repurchased over 1million common shares and will continue. We are at the fortunate position where we can deleverage, diversify, repurchase stock and maintain strong liquidity concurrently. Despite any seasonal fluctuations the market remains relatively firm and we expect and upturn in the winter months that are approaching. We remain positive for the medium-term outlook of the LPG shipping market”.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

• • All-time record Net Income of $27.3 million for the six-month period corresponding to a basic EPS of $0.71. Strong profitability continued for the second quarter with Net Income of $10.5 million for the three-month period corresponding to a basic EPS of $0.27.
• • About 80% of fleet days are secured on period charters for the remainder of 2023, with total fleet employment days for all subsequent periods generating approximately $90 million (excl. JV vessels) in contracted revenues. 
• • Concluded the previously announced sale of the Eco Czar, the Eco Nemesis, the Eco Texiana and the Eco Enigma. All four vessels were sold at a profit, two were delivered during Q2 23’ and two during Q3 23’.  
• • Entered into an agreement to sell two more vessels, the Eco Dream and Eco Green with forward delivery in January 2024. 
• • Initiated a share repurchase program of up to $15 million. Up to August 11, 2023, 1.1 million shares had been repurchased.
• • Massively reduced debt by $104.9 million from $245.4 million as of March 31, 2023, net of deferred finance charges, to $140.5 million as of June 30, 2023.
• • Revenues at $36.7 million for Q2 23’ despite having reduced the number of vessels in the fleet from 34 vessels at the end of Q2 22’ to 29 vessels at the end of Q2 23’.

image:  CEO Harry Vafias of STEALTHGAS Inc.

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ABS Chairman and Chief Executive Officer, Christopher J. Wiernicki, and the Board of Directors have elected John McDonald as President of ABS at its Board meeting on July 18. 
McDonald, who has served as Executive Vice President and Chief Operating Officer of the company since July 2021, will take on the title of President and remain the Chief Operating Officer of the company.
“John McDonald has seized the opportunity to demonstrate his leadership skills since becoming Chief Operating Officer of ABS in 2021 and will now be given a further opportunity to showcase his strategic insight and leadership capabilities in the marine and offshore industries as he steps into the President’s position,” said Christopher J. Wiernicki, who will remain Chairman and CEO of ABS.   
McDonald joined ABS in 1996 as a surveyor and has served in various frontline roles in Korea, the Northern Europe and Africa Region and the Central Region for the former Americas Division. He previously held the position of Vice President of Occupational Health and Safety for both ABS Bureau and its affiliate, ABS Group, and led the former ABS Divisions in Europe and in the Pacific. He also has held operational leadership roles including Senior Vice President of the Western Hemisphere Survey Operations and as Senior Vice President of Global Business Development prior to becoming the Chief Operating Officer. McDonald has a bachelor’s degree in marine engineering from Maine Maritime Academy and an MBA from Texas A&M University.
By virtue of his election as President, McDonald will also join the ABS Board of Directors.

image: John McDonald new President of ABS

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 Aiming at the assessment of energy-saving devices (ESDs) produced by HEMEXPO member companies (Hellenic Marine Equipment Manufacturers and Exporters), an agreement was signed with the world’s leading classification society, DNV.
Under the terms of the agreement, in the first instance, DNV will review a makers list provided by HEMEXPO to identify ESDs that fall in the category of energy saving devices, according to DNV expertise. In the second step, DNV will assess which regulatory metrics – i.e., the Carbon Intensity Indicator (CII) and the Energy Efficiency Existing Ship Index (EEXI) – the relevant ESDs affect. Finally, the classification society will issue a letter of professional opinion for the HEMEXPO products that fall into the ESD category. This will confirm that the product is assessed as an ESD, as per step 1, and describe the regulatory metrics it influences, as per step 2.
Eleni Polychronopoulou, HEMEXPO President, said: “Our agreement with DNV is a significant breakthrough as it aligns closely with the need for an international standard on ESDs, and HEMEXPO’s endeavours to encourage the marine equipment industry’s transition towards green solutions, which HEMEXPO is working towards. ESDs support ship owners and yards in meeting their environmental sustainability objectives, and this agreement will facilitate the acceptance of impactful technologies within the maritime industry.”
Whether selected for retrofit or at the newbuilding stage, ESDs can help shipping companies improve their CII, EEXI and EEDI (Energy Efficiency Design Index) ratings – and as the maritime regulatory landscape evolves, their importance will only grow, Polychronopoulou added.
Chara Georgopoulou, Head of the Maritime R&D and Advisory - OCCS Manager for DNV Greece, commented: “We are pleased to sign an agreement with HEMEXPO to assess its energy-saving devices. The maritime industry has set ambitious sustainability targets and improvements to vessel efficiency and ESDs, alongside new fuels and digitalisation, can significantly contribute to achieving those goals. ESDs can be instrumental in helping to reduce fuel use, cut greenhouse gas emissions and fully contribute towards compliance. For wider adoption however, the industry needs confidence in the technology. By working together to review HEMEXPO member products, DNV is proud to help build this confidence and ensure that the shipping industry can use ESDs to meet its decarbonisation goals.”
HEMEXPO is committed to delivering environmentally friendly solutions and services to support shipping’s green transition. In addition to ESDs, its member companies offer sustainable technology including friction-reducing hull coatings, shore connection facilities and carbon capture systems.

image:  Eleni Polychronopoulou, HEMEXPO President

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