Euploia Drydocks & Services exclusive principal CRUG-VERSITEC has collaborated with Service Fleet Agreement one of the most well-established shipping companies in Greece, Navarone S.A.. This agreement is applicable to seals & liners products and to aforesaid service (bonding/supervision etc.), offered by CRUG-VERSITEC.
CRUG-VERSITEC offers to Navarone S.A. a fixed rate for service and a fixed pricing of the sealing rings until 2025 for 17 vessels with an option to extend the coverage to an additional 3 vessels, including all compatible spare parts for stern tube seals as far as these spare parts form part of Crug's product range. The product range of CRUG-VERSITEC includes but no limits to the spare parts for oillubricated lip seals for stern tubes for normal overhaul, maintance and/or repair.

COMPATIBLE TO FOLLOWING MAKERS & TYPES:

• • SIMPLEX(Compact Seal, various types),
• • KOBELCO/ KEMEL(C-type, and CX, DX, AX type),
• • LAGERSMIT/ IHC Sealing Solutions,
• • WARTSILA most brands and types including but no limited to: Dover Japan, Japan Marine Technologies, Waukesha, Chuetsu, John Crane Lips, Deep Sea Seals, Neptune.

This Service Fleet Agreement is a significant step in ensuring the reliability and cost-effectiveness of maintenance and repair services for Navarone S.A.'s fleet of vessels. It demonstrates the commitment of CRUG-VERSITEC to providing high-quality products and services in the maritime industry.
The provided statements highlight the collaboration between two companies, CRUG-VERSITEC and Navarone S.A., facilitated by their exclusive agent, Euploia Drydocks & Services Ltd, in the Greek shipping industry. Here is a summary of the key points made by each party: 
The Management Team of CRUG-VERSITEC commented: “It is our pleasure to collaborate with Navarone S.A., a traditional Greek shipping company. We see this partnership as a significant opportunity to establish a sustainable and enduring relationship with a well-known player in the shipping industry. We sincerely thank our exclusive agent, Euploia Drydocks & Services Ltd, for making this collaboration possible. We look forward to building a mutually beneficial relationship with Navarone S.A. and hope that this fleet agreement will lay the foundation for a strong and enduring partnership. Through this collaboration, accompanied by our exclusive agent, Euploia Drydocks & Services Ltd, we aspire to broaden our horizons in the Greek market.”
Aristodimos Kanakis, Spares Dept. Manager at Navarone S.A. stated, "We take great pleasure in establishing a enduring collaboration with CRUG-VERSITEC, signifying a new chapter in our partnership. While we have previously worked together on a case-by-case basis, the extended cooperation with CRUG-VERSITEC has allowed us to secure attractive, sustainable, and cost-effective solutions for a significant portion of our fleet (17 vessels + 3 optional) for over two years. The assurance of stable and sustainable pricing is of utmost significance, particularly in the face of the continuous escalation in material prices."
Charis Valentakis, Managing Director of Euploia Drydocks & Services Ltd commented: "We are delighted to facilitate the collaboration between the two companies/parties to address the prevailing price challenges. We consider this collaboration a success and anticipate a positive impact. The Fleet Agreement signifies our commitment to expanding our presence in the Greek Market's Marine Sealing Solutions sector. We are eager to establish a mutually beneficial, trust-based, and reliable relationship with our esteemed and enduring client, Navarone S.A.”.

image: Mr. Charis Valentakis, Managing Director of Euploia Drydocks & Services 

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International Transport Intermediaries Club (ITIC) – a mutual insurer that provides professional indemnity (PI) cover for transport intermediaries operating in the marine, offshore, renewable and aviation industries – has warned of the need for extra vigilance when it comes to the dangers of ordering equipment and the resulting financial implications for the offshore sector when getting it wrong.
ITIC highlighted the issue as part of its latest Claims Review, which detailed a case involving an offshore surveying company specialising in geophysical surveys that was contracted to conduct comprehensive geophysical and geotechnical surveys across offshore gas fields for a major oil player.
In this incident, many issues led to delays of approximately 300 days, including alleged faulty work, faulty equipment and vessels and other unfulfilled obligations. One specific issue the oil company raised was the surveyor’s negligent failure to ensure there was correct equipment onboard the surveying vessels which significantly contributed to the total delay. The oil company sought liquidated damages as a result.
During the claims process, the oil company sought damages of US$ 3 million under three contracts, with a limitation of liability of US$ 1 million per contract. However, ITIC ultimately reached a settlement of US$ 1.5 million for all three claims.
“Cases like these highlight the importance of thorough risk assessment, and it is important to have a nuanced understanding of contractual terms, particularly when it comes to ensuring that the equipment used during an offshore survey is correct for the job at hand. The legal and contractual intricacies can play a significant role in shaping the outcomes of such situations. Having a limitation of liability in a contract is always recommended. Insurance with ITIC also plays a major part in helping to mitigate these risks and offer a safety net for stakeholders that are actively involved in the offshore sector,” said Mark Brattman, Claims Director at ITIC.
Modern offshore oil and gas and renewable projects rely heavily on detailed and planned survey work to ensure the project runs smoothly and is ultimately successful. Equipment errors during this aspect of an offshore project can lead to cost overruns, schedule delays and poor quality of collected data that can impact the effectiveness of the offshore project.
Click on the link for the latest Claims Review: https://www.itic-insure.com/our-publications/claims-review/welcome-to-the-october-edition-of-itics-claims-review-15873

About ITIC
International Transport Intermediaries Club (ITIC) is the world’s leading provider of professional indemnity insurance to transport professionals across the globe.
As a mutual insurer, it has over 90 years’ experience providing cover to companies in the marine, naval architecture, aviation, offshore and hydrographic industries. With 3,490 members in over 110 countries and with a worldwide network of correspondents, ITIC is the acknowledged leader in its field.
ITIC’s insurance has been developed primarily to cover claims of negligence – errors or omissions. Cover can also extend to specialist areas such as debt collection, loss of commission income, cash in transit and directors’ and officers’ insurance. ITIC’s wide cover also includes a unique discretionary insurance which could support claims not normally be paid by other professional indemnity insurers.
ITIC is managed by Thomas Miller. More details about ITIC and the services it offers can be found at www.itic-insure.com.

Image: Mark Brattman, Claims Director at ITIC 
Photo Credit: ITIC

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Chevron appointed Ayten Yavuz as the new General Manager of its Global Marine Products business. With an extensive background spanning numerous years in the industry and the company, Ayten brings a wealth of experience and expertise that will significantly contribute to the advancement and expansion of the company's initiatives.
In her new role, Ayten will be responsible for charting the course towards profitable growth, innovation, and development within the marine business sector. Leveraging her vast industry knowledge, she will lead efforts aimed at bolstering Chevron's commitment to participate in the marine industry's lower carbon future.
Ayten joined the company in 1991 and brings a track record of success with notable positions held over three decades at Chevron. Most recently, Ayten was the Regional Manager of Chevron Marine Products for North West Europe and the Americas.
“I am very proud and honoured to lead Chevron’s Global Marine business at such an important and exciting time in the industry,” said Ayten. “A key focus will be to explore pathways to support the marine sector’s decarbonization ambitions. As an integrated energy company, we have a responsibility to support customers into this new era and beyond. Together with Chevron’s Renewable Energy Group, we are growing our presence in marine renewable fuels. Our energy transition strategy is to leverage our strengths to safely deliver lower carbon energy to a growing world. Chevron will continue to work with industry partners around R&D, demonstration, and deployment of emerging technologies to meet the evolving needs of the marine sector.”

Image: Ayten Yavuz, Chevron’s new General Manager of its Global Marine Products business

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Numerous Greek shipping companies were commended for their active involvement in the AMVER program at the Greek AMVER Awards, held at the Athenaeum Intercontinental Hotel on December 15. This gathering of the Greek maritime community was graced by the presence of Greek government officials, prominent US diplomats, and key representatives from Greek shipping companies, and it was organized by the International Propeller Club of the United States, Port of Piraeus in collaboration with the U.S. Embassy in Greece and the United States Coast Guard.
The ceremony held particular significance this year as it centered on celebrating seamanship, an integral aspect of maritime heritage. This focus underscored the exceptional commitment and expertise of Greek seafarers, acknowledging their crucial role in advancing the principles and standards of seamanship.
The 31st edition of the awards event drew over 900 distinguished guests to celebrate companies engaged in the AMVER System, an initiative facilitating mutual assistance among vessels at sea. Originating on April 15, 1958, through joint efforts of the United States Coast Guard and commercial shipping representatives, AMVER has played a vital role in saving over 7,000 lives since 2000. Many owe their survival to the altruistic endeavors of Greek seafarers and vessels associated with Greek interests. With approximately 11,000 international ships participating in AMVER and an average of 6,300 ships joining the AMVER plot daily, this system remains a crucial network. The AMVER Center processes an impressive 40,000 messages each day, emphasizing its significance in maritime safety. The evening commenced with renditions of the national anthems of the United States and Greece by the students’ choir of the American College of Greece. Following this, attendees were treated to a highly emotional seven-minute-long video celebrating the essence of seamanship.
Costis Frangoulis, President of the International Propeller Club of the United States, Port of Piraeus and Vice President of the International Propeller Club of the United States, said: “We have gathered to pay tribute to the exceptional contributions of the 192 Greek shipping companies, the 2,057 ships, and their brave crews, who participate in the AMVER program. Their commitment to saving lives at sea demonstrates the true spirit of seamanship embraced by the Greek word Ναυτοσύνη; the sense of responsibility and duty that we carry as an inheritance. This is what we set this year as the central theme of the awards. It is the characteristic of our people that makes us proud, but also the distinctive difference that makes Greek shipping stand out. And this year, Greek shipping stars in the AMVER program, with an impressive fleet of 2,057 ships. “Our commitment is not only due to the fact that we are the leading shipping power in the world, but mainly to the psyche of our people. It is the feeling of responsibility, contribution and solidarity that possesses the Greeks. It is these personality and character traits that bring us to the first place.”
The event continued with the Greek Minister of Maritime Affairs and Insular Policy, Christos Stylianides who said: “The AMVER Awards night has established itself as the most important recognition institution for members of the Greek maritime community in the field of Automated Mutual Aid for Ship Rescue. The dedication of Greek shipping to safety at sea is also confirmed by tonight’s ceremony, during which we honor Greek shipping companies for their unwavering participation in the AMVER initiative.
“Everyone recognizes the leadership position of both American and Greek shipping worldwide. Greece and the USA have traditionally maintained excellent relations in the shipping sector as well. Today, Greek shipowners own 21% of the world’s tonnage and 59% of the European Union’s tonnage. In this context, Greece is a strategic partner of the USA, both on a political and economic level, since a large part of the activity of the Greek-owned fleet serves the trade of the USA.”
He added: “At the same time, the Greek flag enjoys worldwide recognition for its quality characteristics.”
US Ambassador to Greece George James Tsunis said: “To me Naftosyni is the pride of this country. This is what the world appreciates about the Greeks; they act with purpose, they act with values, they are dependable, and here you are where people going out in the most inclement weather conditions and dangerous situations to save people’s lives. This is Greek philotimo; it is the national ethos of Greece.”
The evening continued with the Fidelity Awards, which were presented to the top three leading shipping companies with the highest number of ship participation in the AMVER System during the decade 2014-2023. They were: ANGELICOUSSIS GROUP OF COMPANIES with 968 participating ships, TSAKOS GROUP OF COMPANIES with 611 ships and THENAMARIS (SHIPS MANAGEMENT) INC. with 604 ships.
Awards were presented on stage to the top ten shipping companies with more than 50 ships participating in the program during the preceding year.
They were:
1 Angelicoussis Group of Companies – 108 ships
1 TMS Group of Companies – 108 ships
2 Technomar Shipping Inc. – 81 ships
3 Tsakos Group of Companies – 72 ships
4 Laskaridis Shipping Company Limited – 69 ships
5 Thenamaris (Ships Management) Inc. – 66 ships
6 Capital Ship Management Corporation – 64 ships
7 V. Ships Greece Limited – 63 ships
8 Star Bulk – 62 ships
9 Danaos Shipping Company Limited – 61 ships
10 Minerva Marine Inc. – 53 ships

The remaining 182 shipping companies of Greek interests participating in the program were given awards and certificates before the event.
Rear Admiral Nathan A. Moore, Deputy Commander, Atlantic Area US Coast Guard, was invited on stage, immediately after the first awards, to receive an Honorary Membership plaque and to address the audience: “In 2022, more than 6,000 vessels participated in the AMVER Program worldwide. These vessels responded to 212 distress cases, saving or assisting 450 mariners. What is truly staggering is that 160 – or 35% - of these lives were saved by Greek ships. Greeks are leading the way.”
The event continued with the award-giving ceremony of the Special Rescue Awards 2023 to the following companies and their respective vessels: Almi Tankers (MV ALMI HORIZON), Century (MV SERENE AMELIA and MV MARIPERLA), Chartworld (MV ARIANA), Diana Shipping Services S.A. (MV AMPHITRITE), Dorian LPG (MV CHEYENNE and MV COMET), Dynagas (MV CLEAN COPANO) Enterprises (MV FURIOUS and MAGIC STRIKER), Euronav (MV CAP VICTOR), Falcon (MV FALCON IRIS), Laskaridis Shipping Co. Ltd (MV LEONIDAS), M/Maritime (MV ELECTRA.GR), Minerva Marine (MV Minerva), Karteria Polembros Shipping Limited (MV GREEN WARRIOR), Technomar Shipping (MV GSL NICOLETTA) TMS Cardiff Gas Limited (MV LA SEINE), Star Bulk (MV HONEY BADGER, MV IDEE FIXE, MV STAR), Challenger (MV STAR CLAUDINE) and World Management Inc. (MV STAR THENIA).
The event was honored by the presence of Deputy Minister of Maritime Affairs and Insular Policy, Mr. Ioannis Pappas, Deputy Minister of Labour and Social Security, Mr. Vasileios- Petros Spanakis, Ambassador of the Republic of Cyprus in Athens, Mr. Stavros Avgoustides, Chief of Coastal Guard, Vice Admiral Georgios Alexandrakis, Fleet Commander of Hellenic Navy, Vice Admiral Dimitrios-Eleftherios Kataras, First Chief of Coastal Guard, Vice Admiral Alexandros Tselikis, Second Vice-Chief of Coastal Guard, Vice Admiral Aristeidis Pantazoglou, President of the Union of Greek Shipowners, Melina Travlos and President of the Hellenic Chamber of Shipping, Dr. George Pateras. Throughout the evening guests had the opportunity to sample performances of new age clarinet master Thanasis Vassilopoulos and his band, who put together a captivating performance blending traditional sounds with modern musical notes to the delight of the audience.
Earlier in the day, Rear Admiral Moore was the keynote speaker during a luncheon hosted by the International Propeller Club of the United States, Port of Piraeus at the Piraeus Marine Club, representing the US Coast Guard in an engaging discussion of networking, sharing ideas and experiences with Greek shipping executives.
The AMVER Awards 2023 event was held with the support of the Ministry of Maritime Affairs and Insular Policy, the Union of Greek Shipowners and the Hellenic Chamber of Shipping.

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Pursuant to the agreement to acquire 11 LNG/Cs provided under the Umbrella Agreement entered into on November 13, 2023, the Partnership took delivery on January 2, 2024 of LNG/C Axios II (174,000 cbm, latest generation, two stroke MEGA LNG/C, built at Hyundai Heavy Industries Co., Ltd). The vessel commenced a one-year time charter at a market-linked rate, which will be followed by a seven-year bareboat charter with Bonny Gas Transport Limited, who maintain an option to extend by an additional three years.
The vessel acquisition was financed with cash from the balance sheet, a new senior secured loan facility led by ING Bank N.V. for an amount of $190.0 million payable in 28 equal quarterly installments of $2.5 million, in addition to a balloon payment of $120.0 million payable together with the final quarterly installment in December 2030, and the deferral of $92.6 million of the purchase price, in accordance with the seller’s credit agreement included in the Umbrella Agreement, maturing on June 30, 2027.
Axios II is the ninth latest generation LNG/C of the Partnership and the second vessel delivery of the fleet acquired under the Umbrella Agreement. The remaining nine vessels are expected to be delivered between the second quarter of 2024 and the first quarter of 2027.
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands master limited partnership, is an international owner of ocean-going vessels. CPLP currently owns 24 high specification vessels, including nine latest generation LNG/Cs, 12 Neo-Panamax container vessels and three Panamax container vessels. In addition, CPLP has agreed to acquire an additional nine latest generation LNG/Cs to be delivered between the second quarter of 2024 and the first quarter of 2027.

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By Mr Anastasios Maraslis – Founder / President of *Marasco Marine Ltd
 
Protection and Indemnity (P&I) insurance is a cornerstone of maritime commerce, safeguarding shipowners and operators against third-party liabilities. As we approach the 20th February 2024 renewals, it’s crucial to understand the latest industry shifts and how they impact your cover.

The Impact of Recent Maritime Incidents
The past year has seen significant maritime incidents, including the ongoing impact of the COVID-19 pandemic, influencing the P&I market. These events have led to heightened risk assessments and stricter underwriting policies.

Global Economic Influences on P&I Rates
Economic fluctuations play a vital role in insurance premium. The current global economic landscape, marked by inflation and shifting trade patterns, is reshaping P&I premiums. The announced and intendent P&I premium general increase, fluctuates from 5% to 7.5%, depending the Club, followed by some, with an increase on the deductibles, which increase further shipowners/ship managers and operators costs. However last year’s renewals hike in rates helped Clubs improve technical performance in 2023 which is self evident in 2024, Clubs’ lower appetite for rate increases.    

Regulatory Changes Affecting P&I Insurance
New maritime regulations, aimed at enhancing safety and environmental protection, are affecting P&I policies. Compliance with these regulations is now a critical aspect of obtaining favorable insurance terms.

The Role of Technology in P&I Insurance
Technological advancements, like AI and data analytics, are revolutionizing the P&I sector. Insurers are now better equipped to assess risks and tailor policies.

Assessing Your P&I Coverage Needs
As we move towards the renewal date, it’s essential to reassess your cover needs. Consider changes in your fleet, operational areas, and the nature of your maritime activities.

Choosing the Right P&I Club for Your Needs
Different P&I clubs offer varying benefits and specializations. Research and select a club that aligns with your specific requirements, vessels’ type, size, trade, cargoes carried, etc, each fleet and ship manager is unique. There is no one size fits all and besides a Club’s financial strength, a key factor is its reputation for handling claims, the speed of response, the expertise of the claims handlers, and the Club’s record in dispute resolution. Some Clubs offer also risk management services to help members reduce their exposure to claims. Such services may include loss prevention advice, safety audits, and training.

Negotiating Terms with P&I underwriters
Effective and early negotiation is key to securing favorable terms. Be prepared to discuss your risk management strategies and your fleet loss history.

The Importance of Loss Prevention in P&I Insurance
Loss prevention measures not only safeguard your operations but also reduce insurance premiums. Implementing robust safety protocols is crucial.

Preparing for P&I Renewal: Key Steps
As the renewal date approaches, gather your documentation, claims paid, claims incurred reported and still open, your fleet’s loss history, premium paid, review your current policy, terms/conditions and consult with your broker to ensure a seamless process.

Conclusion: Staying Ahead in the P&I Insurance Market
Navigating the P&I insurance landscape requires staying informed and proactive. By understanding these key factors, you can secure the best possible cover for your maritime operations, choosing the right partner for you, to protect your exposure to marine liabilities swiftly and efficiently, when is mostly needed.

*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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Karin Orsel has been appointed the first female President ever in the history of ECSA, starting on 1 January 2024 for a two-year term, with Mikki Koskinen joining as the new Vice-President.  She succeeds Philippos Philis, who has held the position since January 2022.
Commenting on her appointment, new ECSA President Karin Orsel said: “The strategic role of European shipping for the security of the Europe has come to the forefront. Our commitment is clear: to promote the energy transition of shipping, meet our climate targets, and foster the sector’s competitiveness amidst rapidly evolving geopolitical and security challenges. One of the main priorities of our industry is a people-centred transition. The upskilling and reskilling of our seafarers for the green and digital transition, at the same time keeping the sector attractive and future-proof, is a topic close to my heart. I am honoured to take over the ECSA Presidency at such a pivotal moment and I look forward to working together with the membership and the Secretariat to further strengthen ECSA’s role as the voice of European shipping”.
“European shipping operates globally. It is now more important than ever to ensure European shipping remains competitive in an international environment while meeting its climate targets and continuing to deliver goods, energy and mobility for the EU citizens. To achieve this, it is essential to continue the constructive dialogue and cooperation with EU policymakers and stakeholders. In my new position as ECSA Vice-President, I look forward to working with Karin Orsel, ECSA members and the team as we strive to leverage the potential of European shipping for Europe” said Mikki Koskinen, newly appointed Vice-President of ECSA.
Karin Orsel became a shipowner and maritime entrepreneur at the age of 23 and she has been CEO of her ship management company MF Shipping Group since 2001. In 2017, she was appointed President of the Royal Association of Netherlands Shipowners (KVNR). Karin Orsel has received the “Industry Leader Award 2019” at the Tanker Shipping & Trade Conference in London, the “Personality of the Year 2019” at the WISTA International General Meeting and she is an Honorary Doctor of Public Administration Degree of the Massachusetts Maritime Academy in recognition of her significant contributions to the maritime industry.
Mikki Koskinen (Master of Economics) has been Managing Director of ESL Shipping Oy, part of Aspo Group, since 2013, and is a member of Aspo’s Executive Board. Prior to that, he was Managing Director of Meriaura Oy. He has served as a member of the Board of the International Chamber of Shipping (ICS), a member on the board of Arctia Oy and was the Chairman of the Finnish Shipowners’ Association 2021-2023.

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On 5th December 2023, the General Assembly of the Hellenic Committee of Lloyd's Brokers Associates took place at the premises of the Hellenic Association of Insurance Companies in Athens during which General Elections were held to appoint the new Board of Directors and new Auditing Committee for the three (3) year period 2023 - 2026. The elected members have formed the new Board of Directors on 12th December as follows:

BOARD OF DIRECTORS

1. Chairman - Manos Lorentzos, Seascope Hellas S.A.
2. Vice Chairman - Manos Siatounis, Aon Benfield Greece S.A.
3. General Secretary - Sophia Taikidou, Orion International Brokers and Consultants Ltd.
4. Treasurer- Petros Mandarakas, National Insurance Brokers S.A.
5. Member- Phoevos Bartsiokas, Apostolou & Co Ltd.
6. Member- John Myrianthopoulos, European Link S.A.
7. Member- Tassos Trechas, Nereus Marine Services S.A.
8. Member- Nikos Ghiouzelakis, Triton Marine S.A.
9. Member – Dorina Oikonomopoulou, Marsh LLC Insurance Brokers

Deputy Member – Spilios Fasois, Faros Marine S.A.
Deputy Member – Victoria Liouta, Vilmar Insurance Brokers S.A.

AUDITING COMMITTEE

1. Maria Kouliga, Trinity Marine Services Ltd
2. George Karavias, Karavias G. and Associates Ltd.

The Hellenic Committee of Lloyd’s Brokers Associates has it’s origins in 1938 and is one of the oldest insurance-related representative bodies in the Greek market. Historically, the Committee consisted of marine insurance brokers who were associated with and in some cases acted as an exclusive local liaison of Lloyds brokers, as the latter placed the majority of the marine risks. In the years that followed the formation of the Committee, our members have opened up to the international insurance markets of the shipping industry that have gradually evolved, always maintaining very strong ties with Lloyd’s of London, as the name of the Committee suggests.
In the recent years our Committee has strengthened its membership through the inclusion of equally standing professional intermediaries of non-marine disciplines, and widened its activities in order to keep up with the challenges and demands faced by the insurance market. All of our members have well established channels of cooperation with all marine and non-marine insurance markets. This exercise ensures objective and competitive insurance solutions for our clients and is particularly important when it comes to shipping industry in the absence of a local insurance market.
At present the Committee consists of 28 members and we are proud for the high standards of service they are offering to the Greek insurance market.

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As the year comes to close PPA S.A. proudly accepts two prestigious awards, in recognition of the company’s business excellence, marking another twelve months of modernization and progress, and the best performance in the company’s history.
The "Diamonds of the Greek Economy 2023" award was presented to PPA S.A. during a special event organized by Naftemporiki at the Grande Bretagne Hotel on Thursday, December 14, 2023. Mr. Panagiotis Tsonis, the Deputy CEO of the company received the award from the Minister of Transport and Infrastructure, Mr. Christos Staikouras.
Additionally, on Tuesday, December 19, 2023, PPA S.A. was honored with the title of "True Leader" by ICAP CRIF, as it was among the top companies that have excelled in the Greek market and met all the objective and measurable criteria set by this renowned institution. The award was received by the Deputy CEO of the company, Mr. Panagiotis Tsonis, during the Award Ceremony from Mr. Vassilis Rabbat, Chairman of Association of Chief Executive Officers.
The Chairman of PPA S.A., Yu Zenggang, expressed his utmost satisfaction with this double recognition of the company, stating: "In a world that is constantly evolving and presenting us with new challenges, PPA S.A. embraces change and adapts accordingly. Our holistic strategy coupled with an unwavering commitment to stability, growth, and sustainability, has elevated the Port of Piraeus to become a vital hub for transportation, commercial, logistics, tourism, and communication. We will continue to seize opportunities and lay solid foundations for prosperity, development, and progress. Above all, we remain dedicated to supporting the society and working towards a better world. These new awards serve as a testament to the systematic work and efforts of PPA S.A. people. Together, we will continue to shape the future of the port industry and the sectors we influence, fostering innovation, and constantly enhancing the positive impact of our company and the Port of Piraeus within Greece and the world."

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In December 2023, leading ship management provider Columbia Shipmanagement (CSM) signed a scholarship agreement and Memorandum of Understanding (MOU) with the Cyprus Maritime Academy (CyMA), the first maritime academy in Cyprus to offer a four-year degree in nautical science. The initiative to participate in CyMA’s Cadet Scholarship Programme reflects CSM’s continuous efforts to promote academic excellence, professional training, and research in the maritime industry.
With the MOU, CSM commits to providing three full scholarships for CyMA’s newly enrolled cadets on an annual basis, on the condition of meeting specific socio-economic and academic criteria. 
This agreement enables CSM to collaborate with CyMA in selecting scholarship recipients and offering them on-board sea service practicums, mentorships, internships, and various training opportunities.
“We are pleased to announce our collaboration with the Cyprus Maritime Academy,” said Columbia Group CEO Mark O’Neil. “Investing in the next generation of seafarers and providing them with opportunities for personal and professional development is a strategic priority for us. Through this collaboration we are investing in our people, nurturing their potential, and preparing them for a future on board in the ever-evolving maritime industry.”
A private maritime academy, CyMA  is part of the educational organization of Intercollege and the University of Nicosia. The Academy offers a four-year Bachelor Degree programme in Nautical Science which also incorporates the IMO-STCW Certificate of Competence for an Officer in Charge of a Navigational Watch. The 12-month sea-service practicum is included in the four-year duration of the programme, which is delivered in English, enabling not only Cypriot but also EU and International Cadets to take advantage of this unique opportunity. 
Finally, the agreement between CyMA and CSM enables cadets who successfully complete their on-board sea service practicum to also have the possibility to be employed by CSM upon their graduation.

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