Mr. George Alexandratos - General Manager of Apollonia Lines S.A - Chairman of the BoD of the PMC opened the conference which represents the quality of events that the Piraeus Marine Club would like to host with remarkable personalities discussing the hot topics of Shipping. This year’s event was a sold out organization and fully interactive with the audience voted against or for the motion.
Ms. Maria Prevezanou - Director of Evmar Marine Services Ltd. - Treasurer of the BoD of the PMC / Organiser of the Conference focused on the p&i’s seminar 23rd anniversary and presented the distinguished speakers and Mr. Lou Kollakis - Honorary Chairman of Chartworld Shipping Corp. described the broader trend and scene of the marine insurance market which highly influenced by the war conflicts around the world and the economic uncertainties.
The following motion was discussed by the panel: “This House believes the current retention level of $10 million remains an appropriate attachment point for the International Group.”
Mr. Jerry Westmore Head of Underwriting Steamship Insurance Management Services Limited supported the motion which as he said the $10m limit protects the interests of the members and pricing stability.
Mr. Dimitris Batalis General Manager – Greece The Shipowners Club (SOP) also spoke for the motion marking that there is no obvious reason to increase the level of $10m as this would mean more expenses for the insureds.
Ms. Victoria Papageorgiou Associate Director The London P&I Club claimed that because of the different types and the volatility of casualties that come into the IG it is appropriate a retention limit of $10m to be maintained.
Mr. Ludvig Nyhlen Area Manager Team Greece The Swedish Club told that due to the retention level the Clubs handle more efficiently the different casualties protecting the interests of Clubs and its members.
Mr. Sean Geraghty Regional Director of Greece Thomas Miller P&I Ltd ( UK Club) spoke Against The Motion. He supported that it is very important the IG to cope with the ordinary claims that will come into the IG after a review of the retention level which will also have a positive effect on the underwriting discipline of the clubs and he suggested an increase to $14-15m.
Next motion was “This House believes that the International Group of P&I Clubs, given the unsurpassed size of its constituency, should do more to intercede with regulators across the globe on policies which inhibit the free conduct of maritime commerce.”
Mr. George D. Gourdomichalis Managing Director Phoenix Shipping & Trading S.A moderated the discussion.
For The Motion spoke Mr. Daniel A. Tadros Chief Operating OfficerAmerican Steamship Owners Mutual Protection & Indemnity Association, Inc. who insisted that the more involvement of the IG in the international forum the most will be for the benefit of the P&I Club and its members.
Mr. Mike Salthouse Head of External affairs NorthStandard Ltd also agreed that further collaboration with the governmental and regulatory and especially in UN will protect our industry from substandard practices that harms the image of shipping and promote the remarkable engagement of shipping in the development of world trade and economy. IG has a collective experience that might help the governmental bodies to cope with several challenges like sanctions imposed against various countries that have an illegal and terrorist activity.
The 3rd motion of the conference was about UN’s 17 Sustainable Development Goals.
Mr. Andrew Cutler Chairman of the International Group of P&I Clubs supported that ‘The IG should be more proactive in supporting the UN’s SDGs’.
Mr. Dinos Caroussis Director Chios Navigation ( Hellas ) Ltd. moderated the panel of speakers that discussed the following motion: “This House believes that, bearing in mind that certain ship-types would appear to attract more significantly large Pool claims than others, and recalling that in the past clubs within the International Group were required to apply minimum rates to tanker tonnage, to say nothing of surcharges to tankers trading to the United States post-OPA 90, there may be virtue in entertaining a similar regime going forward, for example in relation to pure car carriers, given the hazards of Li-ion batteries.”
For The Motion : Mr. Kjell-Ake Augustsson Senior Vice President, Head of Skuld Hellas Skuld Against The Motion spoke Mr. Bjørnar Andresen Group Chief Underwriting Officer Gard As who supported that there is no any extra danger in the pure car carriers from Li-ion batteries as this material is used extensively in the construction of all vessels that incorporate new technology.
Final motion: “This House believes that the increasing danger of transiting the Red Sea Bab el Mandeb Straits allows Owners to refuse Charterers’ orders to do so.”
Moderator : Mr. Dinos Caroussis Director Chios Navigation ( Hellas ) Ltd.
For The Motion : Mr. Ian Clarke Head of Claims & Regional Director (Hellas) West of England Insurance Services SA. who told that the master and the shipping company have the duty to examine the objective conditions and decide how to approach the risks posed by the voyage.
Against The Motion spoke Mr. Dale Hammond Director Britannia Steam Ship Insurance Association Limited. argued that wouldn’t be applicable for owners to cancel the terms of the charter party and deviate around the Cape. It depends on the charter party clauses to reject or not the charterers orders.
The event was concluded with the Closing Remarks by the Chairman Mr. Lou Kollakis.

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Greek Shipping Takes Centre Stage at Posidonia 2024 Amidst Industry Transformation

Posidonia 2024 is already on track to be the biggest ever in the long history of the world’s most prestigious shipping exhibition, as the safety and resilience of the international maritime community take centre stage during a crucial year underpinned by a complex volatile backdrop of widespread ongoing geopolitical conflicts and the enforcement of environmental regulations.
For an industry that is responsible for over 80% of the volume of global trade, the issues are hot, the stakes are high, but the mood is optimistic, as decision-makers ponder about the impact of prolonged international conflicts on the freedom of navigation, and their companies race to comply with sustainability directives that are causing concerns amongst stakeholders within the shipping community.
Over 2,000 exhibitors and 40,000 visitors are expected to converge in Athens’ Metropolitan Expo Centre from 3 to 7 June for Posidonia 2024 which is set to emerge as the epicenter of global shipping for navigating these challenges and fostering crucial dialogue to shape the future of maritime trade. And the industry’s constant diversification is reflected by some 45 newcomers to Posidonia, who represent both software and hardware products as well as government agencies from around the globe.
Theodore Vokos, Managing Director, Posidonia Exhibitions S.A. said: “This year’s Posidonia timing is perfect, as it will be held at a time when many parameters affecting shipping will have to be discussed and new initiatives will be launched. The last couple of years have been geopolitically challenging, with new crises erupting around the globe and shipping having to adapt to new challenges every six months. The wars in the Ukraine and Gaza, the temporary closure of the Red Sea passage, limitations to the Panama Canal, and other challenges have affected planning and operations of the entire shipping industry.
“In addition to the above, new regulations and the industry’s drive to meet sustainability demands have been the catalyst for the latest industry developments. New technologies will be showcased and fuel options will be once again discussed at Posidonia 2024, as the industry rushes to meet the 2030 and 2050 environmental goals. This interaction between policy makers and industry on the exhibition floor and the conference halls creates fruitful dialogue and creates the conditions which will allow shipping to become a sustainable industry.”
Decarbonisation of shipping will be on the radar more intensely than ever before, as the industry will debate ways of achieving sustainability targets set by new environmental regulations. Route optimisation and weather prediction software services, sail rotors harnessing the power of wind, advanced hull coating systems and air lubrication reducing resistance and therefore fuel consumption, solar panels on ships, engines running on alternative fuels or optimised to slow steam, and many more developments will all gain in prominence in 2024 at the Posidonia exhibition floor.
As the Union of Greek Shipowners (UGS) took a leading role in the "Shaping the Future of Shipping: Delivering a Net Zero World" Summit, organised in the sidelines of COP 28 by the International Chamber of Shipping (ICS), it becomes evident that this summer Greek shipping will lead the way in tackling the issues and challenges global shipping and the global economy face towards a net zero world.
UGS President Melina Travlos stressed shipping’s core message about the sector's decarbonisation: the imperative need for cooperation and coordination of all parties involved in the transport chain, for the achievement of the goals of the International Maritime Organization (IMO).
She underlined the importance of a unified approach among governments, regulators, and stakeholders, inviting all states to support the IMO in its ambitious work.
“Time flies and yet large challenges remain, and new ones are emerging. However, if we can work together to achieve our shared goals, the prize will be greater than the greening of our industry, it will be the greening of all industries. We cannot even discuss, let alone succeed, with a global energy transition without shipping and its role as a catalyst in every aspect of socioeconomic change and progress. Shipping has always guided global change through motivation, determination, and vision, and now it has to inspire and lead, once more. Shipping has always built bridges for growth and prosperity. This is our purpose, our duty, and our commitment to the world.”
As technology becomes mission critical, shipping companies are becoming early adopters and direct investors in new technologies. In the recent years the shipping industry has taken huge steps towards the digitalisation of its operations and adoption of new technologies in all segments of the business. At Posidonia all new technologies will be presented, enabling the shipping industry to familiarise itself with products and services that will revolutionise its modus operandi in the years to come.
The extended Posidonia Conference and Seminars programme, including forums like the Tradewinds Shipowners Forum and the HELMEPA Conference, which attract the most senior shipowners from around the globe, will address the most critical issues in the industry.
The addition of the Greener Shipping Summit, organised by Naftiliaki/Newsfront under the auspices of MARTECMA, the Marine Technical Managers Association, which comprises the technical directors of the biggest shipping companies of Greece, brings a focus on evaluating new technologies and their potential use by shipping companies. But as Posidonia grows, one week to debate all issues is not enough. For this reason, the conference programme starts the week before, with the Marine Insurance Greece Conference. This one-day event will be focused on bringing brokers, insurers and third parties together with the Greek shipowner community to discuss all aspects of marine insurance, which has to adapt to a constantly changing geopolitical environment.
Posidonia remains steadily committed to attracting the younger generation to the shipping industry, evident in the launch of the Posidonia Masterclass in Shipping online course. Collaboration with the YES Forum (Young Executives in Shipping) platform and Isalos.net aims to introduce the next generation to the industry, showcase career opportunities, and nurture their interest in this dynamic sector.
Posidonia's growth in scope and duration is further propelled by the Posidonia Games, featuring events like the Posidonia Cup Sailing Race, Posidonia Running Event, Posidonia Shipsoccer Tournament, Posidonia Golf Tournament, and Posidonia 3x3 Basketball Tournament. With over 4,000 shipping professionals expected to participate, the games contribute to the unique Posidonia atmosphere, providing abundant networking opportunities.
Posidonia 2024 is organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.

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By Anastasios Andreas Maraslis – Founder/President of Marasco Marine Ltd*

Charting the Future: Marasco Marine Ltd's Proactive Approach in Marine Insurance

In the ever-changing seas of the marine insurance industry, foresight and preparedness are the beacons that guide a ship through uncharted waters. Marine insurance, particularly Protection and Indemnity (P&I) clubs, is at a crossroads, facing challenges and opportunities alike. As risk managers and client-centric service providers, working to ensure competitive fairness, Marasco Marine Ltd offers a comprehensive analysis of the current landscape, helping shipowners and managers navigate these turbulent waters. At Marasco Marine Ltd, we understand that while no one can predict the future, being well-prepared and alert to emerging risks is essential. Our role is not just to react to industry changes but to anticipate them, ensuring that our clients are always a step ahead.

The Evolving Role of P&I Clubs: Stability vs. Competition

P&I clubs have traditionally provided a collective risk-sharing model, offering stability and predictability in premiums and coverage. However, this model is now being questioned for its lack of competition. Critics argue that the mutual agreements among P&I clubs, standardizing terms for members switching clubs, limit market dynamics and innovation.

Pros:

• •Collective risk management leads to shared large claims.
• •Predictability in premium rates and coverage terms.
• •Efficient regulatory compliance and claims handling.

Cons:

• •Limited competition could lead to complacency and higher costs.
• •Restricts shipowners’ ability to negotiate better terms.

P&I MERGERS: Fewer Choices, Higher Costs?

The Impact of Market Consolidation: The Case of NorthStandard

The recent merger of NorthStandard has sparked concerns about reduced competition and the rise of larger, potentially monopolistic P&I entities.

Pros:

• •Potential for reduced claims volatility and cost efficiencies.
• •Enhanced resource pooling and expertise sharing.

Cons:

• •Less market competition, potentially leading to inflexible terms.
• •Higher premiums and reduced bargaining power for shipowners.

There's also a valid concern about reduced competition and a potential decline in service quality. Large P&I clubs, post-merger, might focus on serving bigger fleets, potentially overlooking the specific needs of smaller shipowners. This shift could leave a significant portion of the market underserved and facing higher premiums with less personalized service, that is smaller fleet shipowners might face their needs sidelined.

The Ripple Effect on the Supply Chain

A market with limited players could lead to a situation where shipowners and managers have fewer choices, potentially leading to less favorable terms. The inherent risk in such a scenario is the possibility of these clubs wielding significant market power, setting premiums and terms that might be financially burdensome for shipowners. This situation could inadvertently affect the entire supply chain, as higher insurance costs might be passed down through increased sea transportation cost - freight, ultimately impacting end consumers.

The Cautionary Tale:

Historical parallels in other industries show that consolidation can lead to higher prices and reduced choices for consumers. The shipping industry must take seriously into consideration these lessons to avoid similar pitfalls.

Proactive Strategies for Shipowners and Managers

In response to these changes, shipowners and managers should consider alternative risk management strategies and advocate for competitive fairness in the market.

Strategies Include:

• • Exploring alternative insurance options outside traditional P&I clubs or, combination between commercial underwriters and P&I Clubs.
• • Lobbying for regulatory oversight to ensure market competitiveness.

Marasco Marine Ltd's Client-Centric Approach

As a service-oriented company, Marasco Marine Ltd emphasizes the importance of staying informed and adaptable. The industry must strike a balance between benefiting from the efficiencies of larger P&I clubs and maintaining a competitive environment where shipowners have the freedom to choose the best options for their needs. The company advocates for a market that balances collective benefits with competitive dynamics, ensuring that our clients, regardless of their size, remain well-informed and prepared for any shifts in the industry landscape.

Diversifying Options for Comprehensive Coverage

Marasco Marine Ltd diversify its offerings to include a range of marine insurance products that cater to the unique needs of each client, ensuring that smaller shipowners are not left at a disadvantage. This approach allows Marasco Marine to provide tailored solutions stemming from commercial insurers, fixed cost P&I facilities and of course the traditional Pool P&I market, that aligns with the specific risks and requirements of our diverse clientele.

Marasco Marine Ltd Recommends:

• • Regularly reassessing insurance needs in light of market changes.
• • Staying informed about industry developments and potential regulatory changes.

In conclusion, the maritime insurance industry is at a pivotal point. While historical models have provided stability, the need for competition and innovation is increasingly evident. For shipowners and managers, the path forward involves staying informed, adaptable, and proactive in advocating for a balanced and fair market. With Marasco Marine Ltd's guidance, stakeholders can navigate these changes effectively, safeguarding at the same time the interests of all shipowners, especially the smaller ones who might be overshadowed in a market dominated by large conglomerates, ensuring thus their sustainability and profitability.

*Marasco Marine Ltd Is an independent Marine Risks Management Company which has over 30 years of marine insurance expertise in P&I and H&M insurance with an unwavering commitment to client’s success, by introducing specialized strategies in Risk Prevention and Risk Management in its daily modus operandi, with additional services such as: safety audits, and the introduction of safety protocols, which is very crucial for its clientele’s P&I and H&M insurance covers and premium cost control. More about Marasco Marine Ltd, its full list of services, unique structure and its Board of Advisors, can be found at www.marasco-marine.com

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ERMA FIRST, a leading sustainable maritime solutions provider, has become a signatory of the EU Mission Charter targeting the protection and restoration of regional waters by 2030.
The Mission – one of five EU Missions within the Horizon Europe research and innovation programme – aims to “protect and restore the health of our ocean and waters through research and innovation, citizen engagement and blue investments”. As a signatory to the Mission Charter, ERMA FIRST will attend the Mission’s meetings and events while pledging actions that contribute to its objectives.
Commitment to the Charter consolidates sustainability initiatives already overseen by ERMA FIRST at the local level.
In 2023, the group collaborated with HELMEPA (Hellenic Marine Environment Protection Association) on events in May and November, organising volunteers to remove waste and debris from beaches in Piraeus. Both projects aligned with EU ‘Mission Ocean and Waters Actions’ definitions, with the second event also notable for the assistance given by the ‘jellyfishbot’ IADYS in cleanup operations. In an earlier initiative, ERMA FIRST brought the community together to clean up Votsalakia beach in 2021.
In organising and leading these events, ERMA FIRST directly contributed to objectives 1 and 2 of the Mission Charter: to “protect and restore marine and freshwater ecosystems and biodiversity” and to “prevent and eliminate pollution of our ocean, seas and waters”. Furthermore, by involving the local community, the company used one of two Mission ‘enablers’ – “public mobilisation and engagement”.
Mr Kimon Mademlis, Marketing & Communications Director, ERMA FIRST Group, said: “As a company, we are well-known for providing sustainable maritime solutions, but our commitment to the planet and its waters extends beyond our product portfolio. Being welcomed as a signatory of the EU Mission Charter to ‘Restore our Ocean and Waters by 2030’ is a major endorsement of our efforts to protect the environment by engaging local communities. We look forward to connecting with fellow signatories at forthcoming Mission meetings as we collaborate towards cleaner, healthier waters.”
Annual Mission events see signatories from around the European Union gathering to discuss matters and propose actions related to the Mission’s objectives. ERMA FIRST is due to attend the Mission Ocean and Waters Forum in Brussels, Belgium, on 5 March, as well as related matchmaking events on the 4^th and 6^th.

Image: Mr Kimon Mademlis, Marketing & Communications Director, ERMA FIRST Group

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The Cyprus Shipping Chamber welcomes the re-appointment of its Deputy Director General, Mr. Alexandros Josephides, as “International Maritime Organisation (IMO) Goodwill Maritime Ambassador” for Cyprus, for the period 2024-2025.
The Shipping Chamber also extends its sincere appreciation to the Shipping Deputy Ministry who promoted and supported the re-appointment of Mr. Josephides at the IMO, reflecting the recognition of the continuous and valuable contribution of himself and the Chamber over the years in promoting the benefits of careers in shipping to youngsters in Cyprus.
Mr. Josephides has been successfully representing Cyprus as the IMO Goodwill Maritime Ambassador for the last eight years, through the Chamber's multi-faceted educational activities, promoting maritime professions to the youth of Cyprus with the aim of attracting new audiences and inspiring a new generation industry professionals.
Among the important educational activities of the Chamber, are the "Adopt a Ship" Program, which has been running successfully for the last 17 years, in cooperation with the Cyprus Marine Environment Protection Association (CYMEPA), presentations to gymnasiums and lyceums, the organisation of Shipping Career Fairs and participation in other career events across Cyprus.

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A breakthrough initiative concerning the utilization of alternative fuels was adopted by Seanergy Maritime Holdings Corp, through its wholly-owned subsidiary Seanergy Shipmanagement Corp., being the first Greek-based shipping company to accomplish a strategic partnership in the European Union Funded SAFeCRAFT Project Consortium (“Safecraft”).
Safecraft aims to demonstrate the safety and viability of Sustainable Alternative Fuels (SAFs) in seaborne transportation, accelerating the adoption of SAFs technologies. Seanergy will provide one of its existing, conventionally fueled Capesize vessels as the demonstrating vessel under Safecraft which will be retrofitted to utilize hydrogen (H2) as the main energy source for electric power generation. This system is also expected to cover a portion of the vessel's propulsion requirements and, therefore, to reduce reliance on conventional fuels. Seanergy will oversee the feasibility study and the retrofitting of the equipment in cooperation with Hydrus Engineering S.A., American Bureau of Shipping, National Technical University of Athens, MOTOR OIL (Hellas) Corinth Refineries S.A., University of Patras, Dresden University of Technology, RINA Services SPA, Pherousa Green Technologies AS, Foundation WEGEMT and University of Strathclyde, aiming to physically demonstrate this groundbreaking technology’s applicability to the existing maritime fleet. This visionary project has a duration of 48 months starting from December 2023 and will be co-funded by the consortium partners and the European Union’s key funding program for research and innovation, the “Horizon Europe” program, aligning with the FuelEU Maritime 2040 targets and demonstrating a decisive ambition to achieve a 26% reduction of CO2eq in an existing vessel. Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “We are the first Greek-based shipping company on this groundbreaking project. The strategic partnership with the European Union and key industry stakeholders is another major achievement of our Company towards our global ESG objectives. Safecraft is advancing our proven strategy of making the current vessels more efficient and potentially reducing radically GHG emissions by utilizing alternative fuels and new technologies on the existing fleet. “This prominent combination of world-renowned stakeholders consists of classification societies, engineering and industrial firms, the academic community, as well as the European Union. Our collaborative approach will actively contribute to the development of green solutions for the existing fleet, revealing solutions that have an immediate impact.” Vasileios G. Petousis, the Company’s Energy & Sustainability Manager, stated: “We actively pursue advanced operational and technical initiatives that place Seanergy at the forefront of a greener maritime industry as a notable example. “We strive for a more sustainable course of operations and we constantly evaluate and further improve the Company's ESG milestones in an effort to meet the global environmental targets through tangible and proven solutions.” About Seanergy Maritime Holdings Corp. Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the U.S. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. The Company's operating fleet consists of 17 vessels (1 Newcastlemax and 16 Capesize), with an average age of approximately 12.8 years and an aggregate cargo carrying capacity of 3,054,820 dwt

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Okeanis Eco Tankers (OET) announced that its common shares will commence trading on NYSE from and including December 11, 2023. Simultaneously with the NYSE listing, the common shares of OET will be secondary listed on Oslo Bors.
The Company’s common shares will be traded on the NYSE under the ticker code “ECO” and on the Oslo Bors under the ticker code “OET”.
Okeanis Eco Tankers has issued a very positive market update, with its VLCCs well ahead of current spot earnings.
The New York and Oslo – listed company said that for the fourth quarter of last year, it is expecting a daily time charter equivalent rate of $45.300.
For the VLCCs, earnings will be $45.200 per spot day, with suezmaxes on $45.500.
The latter figure includes 147 days of fixed time-charter revenue from two ships. Spot earnings are estimated at $51.800.
However, so far in the first quarter, Okeanis has booked 61% of VLCC spot days at an average of $76.100, while suezmaxes are on $59.300 for 41% of spot days.
The entrance of OET in NYSE market was sealed with the ringing of NYSE opening bell by the company’s founder and president Mr. Yiannis Alafouzos.
The fleet of OET consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.

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The Republic of the Marshall Islands (RMI) Registry achieved a new milestone surpassing 200 million quality gross tons and nearly 5,600 vessels. This landmark achievement spotlights the RMI as one of the top registries in the world in both quality and size. “Two hundred million gross tons is an incredibly important milestone for the RMI Registry, highlighting our long-term commitment to client service and quality shipping,” said International Registries, Inc. (IRI) President Bill Gallagher. “This accomplishment is the result of the expert technical support, quality administrative service, and collaborative approach we take to achieve success.” The RMI Registry has doubled the tonnage of its fleet since 2014, reflecting the commitment IRI, which provides administrative and technical support to the RMI Registry, has made investing in decentralized operations and providing efficient client service from its 28 offices worldwide. The RMI Registry is the only registry in the world to achieve 19 consecutive years on the United States Coast Guard’s QUALSHIP 21 program and remains white-listed with both the Paris and Tokyo Memorandums of Understanding (MoU). “The RMI Registry has been internationally recognized as a quality flag State thanks to our excellent port State control records. This latest milestone underscores that owners and operators value our long-term commitment to high-quality compliance and excellence in client service, making us the Registry of choice,” noted IRI’s Chief Commercial Officer, Theo Xenakoudis. Over the last several decades, IRI has made strategic investments in building a worldwide team of experts to address the evolving needs of the market. These investments include the opening of new offices throughout Asia, Europe, and the Americas in key maritime and financial hubs. Additionally, IRI has formalized specialty teams in gas and renewables to provide dedicated technical support to owners and operators engaged in addressing the challenges of digitalization and decarbonization. An increasingly innovative passenger cruise market is supported by a dedicated Cruise Team that coordinates with owners, shipyards, and stakeholders to bring fresh designs and creative ideas to life. “IRI offers access and service that is unmatched by any other registry,” Xenakoudis said. “We provide personalized service in a wide range of maritime sectors – from yachts to offshore support vessels. We work with leading classification societies, owners, operators, and stakeholders in the maritime industry to ensure that our expert technical team is part of the dialogue as companies explore advanced technologies and new solutions. These partnerships allow the RMI Registry to remain an industry leader for owners looking for expertise and a high quality flag State experience.” For more than 75 years IRI has focused on building a high-quality Registry with best-in-class customer service. Through its network of 28 worldwide offices, IRI provides clients with 24/7/365 technical and administrative support in local time, often in the local language, efficiently meeting the individual circumstances and needs of each client. Recognized for its practical solutions and flexible thinking, IRI provides support for clients as they transition to new technologies and solutions to meet forthcoming changes. “IRI has long been committed to quality service and support,” said Gallagher. “Our mission is to support RMI owners and operators as they do business efficiently and effectively around the world.”

Image: International Registries, Inc. (IRI) President Bill Gallagher & IRI’s Chief Commercial Officer, Theo Xenakoudis

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Neptune Lines proceeded to the further expansion of its fleet through the Genesis Project. This latest expansion involves the addition of two next-generation vessels, following the recent order of the first two of the same series. This brings Neptune Lines’ total newbuilding orders to four vessels through the Genesis Project, marking a significant milestone in the company’s strategic fleet enhancement.
The Genesis Project exemplifies Neptune Lines’ role as an industry pioneer, driving positive change in the maritime sector. Through technological innovation and a deep-rooted commitment to the environment, Neptune Lines is navigating a sustainable course for the future of global shipping. This expansion enhances the company’s commitment to leading the maritime transport sector into the new era of sustainability and technological advancement.
The addition of two more 4200 CEU LNG DF PCTC (Pure Car Truck Carrier) vessels is a key component of Neptune Lines' strategic plan to bolster its fleet over the next decade. These vessels are poised to increase cargo capacity by 36% compared to the current core fleet vessels, while seamlessly aligning with global emission reduction objectives.
Continuing the successful collaboration established with the first two vessels of the Genesis Project, Neptune Lines reaffirms its partnership with Deltamarin for the co-design of the two additional vessels. The company also remains engaged with Fujian Mawei Shipyard in China for their construction, ensuring  the highest safety standards. Delivery is anticipated in 2027.
Neptune Lines has demonstrated a remarkable improvement in environmental performance, evidenced by a 52% reduction in carbon intensity by the end of 2023, compared to the 2008 baseline. This trajectory is set to continue, with the company on track to achieve a 68% improvement in intensity profile by the end of 2030. These figures surpass the current IMO targets by a substantial margin and they also underscore Neptune Lines’ environmental strategy and dedication to “Wake Forward”.
Neptune Lines, a member of Neptune Group of Companies, is a leading finished vehicle logistics provider, offering transportation and shipping solutions to manufacturers and shippers of vehicles and high & heavy cargoes. Founded in the roots of Greek shipping and entrepreneurial courage, the company was established in 1975 and has grown to be amongst the most prominent players in vehicle logistics in Europe. The company operates regular liner services in more than 40 ports in 27 countries counting 3,000 port calls and 1.6 million miles on an annual basis, across North Europe, Mediterranean, Black Sea and the Far East. In 2023, Neptune Lines has moved 1.7 million units. Its extensive range of 22 PCTC vessels enables optimal flexibility and can cater for a wide range of cargo, while achieving economies of scale across its network. 
Guided by its mission, deep-seated in its 50-year heritage, Neptune Lines centers around its customers, delivering excellence through bespoke solutions - tailored to their needs.  Neptune Lines constantly adapts, changes, and progresses, expanding further across the finished vehicle value chain,while embracing its responsibility towards the environment.

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The Cyprus Shipping Chamber completes this year of 35 Years of successful operation and contribution to Cyprus Shipping, to the Economy and Society. In view of this important milestone, of 35 years since its establishment, 26 January 1989, the Cyprus Shipping Chamber organised a Press Conference on Monday, 29 January 2024, at the Chamber’s office in Limassol, during which, a short presentation was made on the various activities that the Chamber will organise during the year.
As widely known, the Cyprus Shipping Chamber is the trade association of the Cyprus Shipping Industry and is one of the largest national shipping associations worldwide, with more than 200 Member-companies in Cyprus and abroad. The main purpose of the Chamber is to promote the interests of Cyprus Shipping and to continuously further the reputation of the Cyprus flag. At the same time, the Chamber acts as a lobbying group for the promotion and safeguarding of the legitimate interests of its Members.
Within the framework of its 35 Years milestone, the Chamber, will organise various business, social and charity events, which are expected elevate the status of Cyprus Shipping by attracting significant local and international shipping professionals.
Throughout the years, the Chamber’s events have attracted notable individuals both from home and abroad, highlighting the broad recognition it enjoys. At the same time, through the number of charity events it will host this year, it will strengthen even more its social contribution to Cyprus society.
This year’s activities include its annual high level business functions, addressed to executives of the Cyprus Shipping Industry, its Member Companies as well as Government and Political Party officials, two Blood Donation Drives, a Charity Beach Volley Tournament, a special event for the “Adopt a Ship” Programme, culminating the  celebrations with a Shipping Charity Marathon along with various other social gatherings.
The Chamber’s Refreshed Logo, a symbol of its journey and growth, was also presented during the Press Conference. On Friday 26 January 2024, the Chamber held its first business event for 2024, an “Official Dinner” attended by the President of the Republic of Cyprus and various other of high-level Government Officials, Political Parties, Business associates and Shipping Industry professionals.

ELNAVI Newsletter
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