The NYSE listed Dorian LPG Ltd., one of the world's largest owners and operators of modern and ECO very large gas carriers ("VLGCs") has added to its fleet the 2023-built Dual-Fuel LPG Carrier HLS Citrine.
The ship has been chartered under a long term time agreement.
This is the first Dual-Fuel LPG VLGC to join the company’s fleet. She will trade in the Helios LPG Pool which we operate jointly with MOL subsidiary, Phoenix Tankers. HLS Citrine is able to transit the old Panama Canal locks, reducing delays and costs compared to NeoPanama transits. She is the first of four Dual-Fuel VLGCs that are scheduled for delivery to the Company during calendar 2023 each with improved economics and carbon footprints, consistent with our mission to provide safe, reliable, clean, and trouble-free transportation.
Dorian LPG is a liquefied petroleum gas shipping company and a leading owner and operator of modern very large gas carriers (“VLGCs”). Our founding executives have managed vessels in the LPG shipping market since 2002.
The company currently owns and operates a fleet of 22 modern VLGCs. The twenty-two VLGCs in its fleet have an aggregate carrying capacity of approximately 1.8 million cbm and an average age, excluding 2 chartered-in VLGCs, of 7.5 years.
Dorian LPG provides in-house commercial and technical management services for all of the vessels in its fleet, including the vessels deployed in the Helios Pool. Dorian LPG has offices in Connecticut, USA, Copenhagen, Denmark, and Athens, Greece. Dorian LPG is incorporated in the Republic of The Marshall Islands and headquartered in the United States.

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Aiming at a larger and financially more reliable company BMS United Bunkers, Bunkernet, and SBI bunkering BV, three leading marine fuel supply companies, have entered into a definitive merger agreement to create Baseblue, an industry leader in marine energy solutions.
Baseblue offers a complete and dependable marine energy solutions to a broader clientele as well as it will provide a wider range of services, including alternative fuels, emissions trading, and digital optimization.
An experienced management team consisting of the three well-tracked brands servicing top-notch clientele for over 30 years will manage Baseblue. Lars H. Nielsen of BMS will assume the position of CEO. At the same time, Gregoris Gregoriou, Managing Director of Bunkernet, will be appointed Chief Commercial Officer, and Dave Gregory, General Manager of SBI, will be appointed Managing Director of Baseblue North Europe. Antonis Xiros will be appointed Chief Operating Officer and Nicholas Argyrou will be appointed Key Account Director.
“Baseblue brings together the best of the three leading brands to deliver more comprehensive bunkering management proposal in the market. We are committed to delivering real unrivalled value through tailor-made services,” mentions Lars Nielsen, Baseblue CEO.
The new company will have offices in Greece, Argentina, Cyprus, Hong Kong, and the Netherlands. Baseblue will employ over 80 specialists with global expertise under one brand to offer extensive services. The combined team has a diverse span of maritime knowledge. Baseblue will deliver holistic and integrated bunkering and lubricant solutions, alternative fuel options, risk management consulting, quality testing, surveying and unique post-fixture service for a vessel’s end-to-end coverage. Thanks to our post-fixture team and digital tools, customers will receive constant input and the ability to track the vessel’s progress in real-time. These proactive procedures will reduce potential issues and waiting time significantly.
This merger comes at a disruptive time for the marine energy industry. Baseblue will be helping its customers to navigate the transition to alternative fuels as the shipping industry aims to decarbonize. With the addition of SBI experts with experience from in-house future fuel trading, Baseblue will be a trusted partner in their decarbonization journey.
“Baseblue can provide up-to-date knowledge and guidance on upcoming legislation, the availability and supply of alternative fuels to help businesses meet their emissions reduction targets. This comprehensive approach is helping customers switch to cleaner, more sustainable operations,” says Dave Gregory, Managing Director of Baseblue North Europe.
“We are committed to staying ahead of the curve,” says Gregoris Gregoriou. “Stronger than the sum of our parts, Baseblue will bring marine energy solutions that deliver real value and drive sustainable growth to its clients. Understanding the need for digitalization, we will safely guide them towards their business goals by offering seamless services through digital decision-making platforms.”
The merge is effective immediately; however, a transition period will exist until the end of April. Beyond the name and logo change, customers will not experience any changes in daily operations.
Baseblue is a global provider of trusted marine energy solutions created through the merger of three leading bunkering companies, Bunkernet, BMS United and SBI in 2023.  Baseblue’s unified global network delivers holistic and integrated bunkering and lubricant solutions, alternative bunkering fuel options, risk management consulting and seamless, trusted & responsible fuelling experience.
Learn more at www.base-blue.com

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The Liberian Registry has awarded an Approval in Principle (AIP) to Anemoi Marine Technologies for their Rotor Sail systems. Anemoi’s Rotor Sails are available with three deployment options - fixed to the deck, a folding type, and on rails that can be moved along or across the deck.
The folding and rail systems were validated on a Newcastlemax bulk carrier design from SDARI and issued an AIP by Lloyd’s Register. The Liberian Registry conducted a technical review of the documentation including Energy Efficiency Design Index (EEDI) calculations and, as a result, issued an AIP with estimated energy efficient improvements of about 20% in terms of EEDI performance.
Anemoi Rotor Sails were created to accelerate the industry’s transition to zero emission shipping by providing auxiliary propulsion to a vessel – this maintains vessel speed but allows the main engine to be powered down, resulting in fewer emissions. Rotor Sails address new IMO environmental requirements for Carbon Intensity Indicator (CII) rating and Energy Efficiency Existing Ship Index (EEXI), which went into effect 1 January 2023 and are driving the need for the global fleet to continuously decarbonize. The ultimate goal being to reach zero-emission in line with the UN Paris Agreement.
Although wind propulsion has been around for approximately 5,000 years, its application to modern commercial vessels is innovative and can significantly contribute to the decarbonization pursuit within the shipping industry. Anemoi’s Rotor Sail systems will not only improve EEDI performance, but also significantly reduce fuel consumption and cost. Rotor Sails are one of the most viable options to decarbonize international shipping and can be used in combination with other energy efficiency devices, new technologies, and alternative fuels.
Thomas Klenum, Executive Vice President, Innovation & Regulatory Affairs at LISCR said: “With the continuously increasing pressure on the global shipping fleet to accelerate decarbonization to align with the temperature goals in the United Nations’ Paris agreement, it is imperative that viable solutions are brought to the market for both newbuidings and for existing ships to retrofit. Therefore, the Liberian Registry is extremely pleased with the collaboration with Anemoi, LR and SDARI to review and validate Anemoi’s Rotor Sail technology that have demonstrated an up to 20% energy reduction. Wind propulsion’s comeback to the merchant fleet is much welcome and true win-win situation.”
Kim Diederichsen, Chief Executive Officer, of Anemoi said:“This collaboration is a great example of organizations working together to create a brighter future for the maritime industry. The Liberian Registry have demonstrated their commitment to zero emission shipping by supporting Rotor Sail technology as a recognized solution. We are very pleased to receive this acknowledgement from a leading flag state and look forward to a long-standing relationship.”
Image: (left to right): Kostas Ladas, General Manager of LISCR (UK), Thomas Klenum, Executive Vice President, Innovation & Regulatory Affairs of LISCR, and Kim Diederichsen, CEO of Anemoi Marine Technologies

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The Institute of Chartered Shipbrokers Greek Branch held its traditional Vasilopita cutting at Piraeus Marine Club on Thursday, 9^th of February. The Institute’s Members and friends celebrated the beginning of the New Year and exchanged wishes for a Happy and Prosperous New Year!
Prior to the Vasilopita cutting proceedings, a Seminar on "Vessel's Underperformance" was presented by ICS’s guest speaker, Mr Constantinos Bitounis, FICS, Senior Associate, Holman Fenwick Willan International LLP.
Following the Seminar, more than 90 Members and Friends from the shipping industry, had the opportunity to interact in a warm and cordial atmosphere during the cocktail reception. Five lucky Members have been the winners of the “Flouri” Gifts: Kostas Kanellopoulos won a 2-night stay in NÓS Hotel and Villas in Sifnos, in a Sea View Suite with Private Plunge Pool. Tasos Prosios won 2 Business Class ferry tickets with Blue Star, offered by Every Way Travel. Dimosthenis Gizas won 1 Seminar with HMC/ICS Greek Branch. Nancy Gaki and  Iakovos Foskolos each received a free dinner for two at the Piraeus Marine Club. ICS sincerely thanks all the businesses who provided this year’s gifts, the personnel and the president of the Piraeus Marine Club, Mr George Alexandratos for the excellent hospitality and services.

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Piraeus Port Authority was recognized with an award, conferred during a special Greece: 365 - Day Destination-themed event held by the Ministry of Tourism, in recognition of the Piraeus Port’s major contribution to the country’s tourism through its high performance in the cruise industry.
After the end of the pandemic, which significantly affected the industry, the Piraeus Port makes a strong comeback across the board as preferred cruise destination.
More specifically, in 2022 there were 677 arrivals compared to 379 in 2021 and 622 in 2019, an increase of 79% and 9%, respectively. In 2023 bookings show a promising year ahead, with cruise bookings reaching 829 already and a 22% increase compared to 2022 levels. The number of cruise ships that started and/or ended their journey at the Piraeus Port (homeport) was 441 in 2022, compared to 220 in 2021, and 331 in 2019, a 100% and 33% increase, respectively. Finally, 2023 bookings for homeport cruise ships reached 629, showing a 43% increase compared to 2022.
The award received the Piraeus Port Authority Chairman Mr. Yu Zenggang. In his brief greeting, during the event, Mr. Yu Zenggang thanked for the award and highlighted that the award is testament to Piraeus Port’s continuous growth, activities, and achievements, which boost the Greek economy and strengthen the local communities and neighboring municipalities. Piraeus Port Authority Chairman expressed his commitment to continue efforts seeking to further increase Greece’s competitiveness in the global shipping, tourism and trade industry.
About PPA S.A.
Piraeus Port Authority SA is an Athens Stock Exchange listed company engaged in the management and operation of Piraeus port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world.
Over the last decade the company has experienced a remarkable growth in all port activities, which is still underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to the society.

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The Global Centre for Maritime Decarbonisation (GCMD) and Olympic Shipping and Management SA (OSM) have signed an Impact Partnership Agreement, committing to a five-year collaboration to accelerate shipping’s decarbonisation across geographies.
Onassis Foundation-controlled Greek owner OSM is the first Greek ship owner and manager to come onboard GCMD as a centre-level partner. OSM’s current fleet comprises 18 crude oil tankers. As an Impact Partner, OSM will provide a cash contribution towards pooled resources for GCMD’s projects, as well as in-kind contributions in terms of technical expertise and data and access to hard assets, in support of GCMD’s existing trials on drop-in green fuels and shipboard carbon capture and new pilots in the pipeline.
George Karageorgiou, President and CEO of Olympic Shipping and Management S.A., said: “Actions are necessary to accelerate the pace of the global energy transition and the decarbonisation of our industry. Actions are better accommodated and achieved through synergies and collaborations. We feel therefore honoured to join forces with GCMD, the global centre that supports its members to meet or exceed the IMO goals. Excited to join the group and work with such a diverse range of knowledge and expertise for viable and sustainable solutions.”
Greece is one of the world’s top shipowning nation in tonnage. With a total of 384 million DWT and 4,870 vessels, Greece alone accounts for about 17.6% of global shipping[1]. Within the EU, Greek shipowners owns about 59% of the EU-controlled fleet[2]. Greece ranks highest in the tanker market with a fleet value of US$56.2 billion, owns the second most valuable LNG fleet worth US$29.1 billion[3], and is dominant in bulker, tanker, LNG and LPG segments. It is therefore critical for the Greek shipping community to be part of the decarbonisation conversations.
Onassis Foundation President, Antonis Papadimitriou, said: “We are very happy that Olympic Shipping and Management will join the Global Centre for Maritime Decarbonisation. The Onassis Foundation actively supports the aim of Olympic to reach zero carbon on its fleet by 2050 as well as sustainable and responsible shipping”.
Welcoming Olympic Shipping as an Impact Partner, Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation, said: “The Onassis-Olympic Shipping Group brings a recognised Greek brand to the forefront of the global decarbonisation agenda. GCMD’s goal to benefit the maritime sector is aligned with that of the Onassis Foundation to benefit the public. We are proud to have OSM join us as an Impact Partner and are hopeful that this marks the beginning of greater collaboration with the Greek shipping community.”

Image1: George Karageorgiou, President and CEO of Olympic Shipping and Management S.A.
Image 2: Olympic Shipping and Management S.A. (OSM) is the first Greek ship owner and manager to partner with the Global Centre for Maritime Decarbonisation, committing to a five-year collaboration to accelerate shipping’s decarbonisation across geographies.

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Capital Link hosted a presentation by the senior management of TEN Ltd. on Thursday, January 12, 2023. During the 45-minute session, Dr. Nikolas P. Tsakos, Founder, President & CEO, Paul Durham, CFO, George  Saroglou, Chief Operating Officer and  Harrys Kosmatos, Corporate Development Officer,  described the strong tanker  market, the current state of the company’s fleet,  and its dividend policy as part  of Capital Link’s Company Presentation Series.
Dr. Nikolas P. Tsakos, CEO, stressed that TEN is focused on capitalizing not only on periods when the market is strong, but also when it lags. He stated that the company’s current strategy includes chartering its vessels in the spot market, for short term periods, when the market is very strong.
The company has “taken advantage of the difficult times” to order its first four green, dual-fuel ships,  Dr. Tsakos said, with  the order backed by  long time charters from one of the company’s main clients.
In terms of chartering, 40 of TEN’s 66 vessels on the water, or 61%, have market exposure, or a combination of spot and time charter, along with profit sharing.
A total of 44 of 66 vessels on the water, or 67%, are in secure revenue contracts, or fixed time charters and time charters with profit sharing. “This means that TEN is capturing the positive tanker market fundamentals that prevail today, George Saroglou, COO, stated.
“We have a  simple operating  model—we try to  have our  time charter  vessels generate revenue  to cover  the  company’s cash  needs, the  vessel  operating expenses, finance  expenses,  overheads, chartering  costs  and  commissions,” explained George Saroglou.
“We let the revenue from spot rating vessels opportunistically contribute to the profitability of the company,” he continued.
George Saroglou stressed the company’s commitment to keeping operating costs low and utilization rates high.  Currently, TEN’s fleet utilization sits at nearly 94%.  This figure is quite high, considering that a number of dry dockings for ship surveys that have taken place.
The company is also expecting a total of six newbuilds to be delivered from 3Q23 until 2Q25.  Of these new vessels, four will be dual-fuel LNG, and “represent the company’s entrance into green shipping,” Saroglou said.
TEN has traditionally been active in the S&P market focusing on fleet renewal. “We’re looking to sell 7 or 8 of our older generation ships,” Dr. Tsakos stated. “That would give us a very big capital gain and boost for the year 2023.”
“Based on the positive quarterly results through the past year, it’s clear that the annual numbers will be strong,” Paul Durham, CFO stated of 2022.
The current market is “very favorable” for tanker owners on both the supply and demand  side,  Harrys  Kosmatos, Corporate Development Officer, said expressing his confidence, particularly in terms of demand. “Global oil demand has recovered” in the wake of the pandemic, and has even exceeded pre-pandemic levels, Harrys Kosmatos pointed out. China’s reopening will likely propel this demand even further, he noted, as the country could become, once again, a “major oil importer”.
Kosmatos argued that Russia’s invasion of the Ukraine has created “a new and possibly lasting trend” in oil markets, namely the creation of new trading patterns and the elongation of shipping routes as a result of Europe’s ban on Russian oil imports. Due to these regulations, Europe now has to import oil from further distances, particularly the US, West Africa, and the Arabian Gulf. “The short-term voyages  from Russia have been  replaced by longer  haul trades and the emerging ‘new’ Russian trades, particularly to India and  China as it  reopens, are  performed  by older  vessels, acquired  by  “non-western” entities, that  up until  recently competed  in the  international  commercial arena with everybody  else,” Kosmatos noted. 
Additionally, the sector  is facing  one of  the lowest  orderbooks in  recent memory, under 4%,  while nearly 10%  of the  current global fleet  is over  20 years old, and 24% over 15 years old.  “As a result, we could be faced with a situation where some segments in the tanker market could experience negative growth.  Negative growth against an increasing global oil demand should translate to a sustainable strong market environment.” Kosmatos asserted.
TEN Ltd. is one of the largest and most well-established independent energy transporters in the  world.  With a diverse fleet of 73 modern vessels, including both crude oil and oil-product as well as LNG transportation. This includes 7 newbuilds. TEN Ltd maintains a customer  base consisting of  major global energy companies.

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Capital Link hosted a presentation by the senior management of Dorian LPG on Thursday, January 12, 2023. During the 45-minute session, John Lycouris, Dorian LPG USA CEO, and Ted Young, Dorian LPG CFO, provided an image of the growing LPG market and VLGC sector as part of Capital Link’s Company Presentation Series.
LPG has risen in prominence as an alternative to gasoline, coal, and oil due to its low cost, abundant supply, and portability. While it is a fossil fuel, LPG is also cleaner than many other energy sources, as it produces less air pollution and carbon emissions.
The war in Ukraine has greatly impacted the price of LNG, particularly in the Far East, where it has increased significantly. As Russia did not export a significant amount of LPG before the war, and what it did export was transported largely by rail and mid-size vessels (MGCs), the war and resulting sanctions did not impact the VLGC sector much directly. It did, however, create additional LPG exports from other oil and gas producing countries, thereby bolstering the VLGC sector ton-miles.
“Global demand for LPG is about 330 million metric tons, about one third of that is traded over the water” on VLGCs, Ted Young, CFO, stated. North America and the Middle East are the largest production centers for LPG, while the major end-user markets are mainly located in the Far East. The USA has become the biggest seaborne exporter of LPG, with the Middle East following close behind. In 2022, 45% of global LPG exports came from the US, and 36% from the Middle East.
The EIA forecasts that production of LPG will increase by 5 to 6% in the US in the next two years, while LPG exports are expected to increase by 16% in 2023, and by 8% percent in 2024.
Scrubbers, Green Technology Integral to Future of Sector
Ted Young noted that the company has “made a significant investment in scrubbers,” as 13 of its vessels are scrubber-fitted, a move which “has paid big dividends.” Without scrubbers, the ships would have to operate on highly expensive low-sulphur fuel oil in order to follow the 2020 IMO regulations on sulphur emissions pollution. However, ships fitted with scrubbers can operate on lower-cost, standard fuel oil, since the scrubbers remove the offending pollutant.
John Lycouris, noted that Dorian LPG were “leaders” in terms of installing scrubbers on their vessels since delivery, back in 2015, “way before it was mandated or regulated to have low sulfur emissions.” The company saw back in 2015 that scrubbers would become attractive in providing cleaner emissions and thought it was “a great opportunity to build its vessels retrofit ready for this technological advance and by installing scrubbers in two of its vessels to pilot the technology”.
This early experience with scrubbers convinced the company to retrofit more of its vessels with scrubbers and has even pushed the company to seek out solutions towards the next generation of green technology. “We believe Carbon capture will be the next thing to look at,” John Lycouris said.
Unlike many other shipping sectors, the VLGC orderbook is quite large, with 70 ships on order from now until 2025, 45 of which are expected to be delivered this year alone. While such a large orderbook could be a cause for concern, there are a number of factors at play that may mitigate some of the market risk. He also noted that 60 vessels on the water—18% of the global VLGC fleet—are due for drydocking and special surveys in 2023, meaning that they will be “out of commission” for four to six weeks.
Additionally, a significant portion of VLGCs on the water are ageing out, with 17% of the global fleet aged over 20 years, meaning that a significant number of vessels will have to be significantly renovated or scrapped in order to remain economically viable, particularly in terms of IMO regulations.
Since its initial public offering in 2014, Dorian has returned almost $500 million to shareholders.
The company has refinanced its remaining debt facility into a seven-year facility, as compared to the standard five-year facility in shipping.
Dorian has bought back a large amount of its stock—the company had around 56 million shares outstanding when it went public, and currently has around 40 million shares outstanding.
Dorian LPG is a leading owner and operator of very large gas carriers (VLGCs). The liquified petroleum gas (LPG) company’s modern fleet consists of 19 ECO VLGCs, one modern VLGC, and two chartered-in VLGCs. With an average age of 8.5 years, Dorian’s fleet is younger than the global VLGC fleet, which has an average age of 11.3 years.

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PROJECT CONNECT held its New Year’s Members luncheon themed “Let’s Win the Year” on January 31st at the Piraeus Maritime Club to celebrate receiving the “Achievement in Education or Training Award” from Lloyd’s List Greek Shipping Awards 2022, and to acknowledge appreciation for the valuable contributions and sustained support provided by its 65 members, founders, and educators.
PROJECT CONNECT founder, Ms. Irene Notias, stressed that “hard work pays off”. Her mindset was also echoed by Mr. Nikos Efthimiadis of Lotus Shipping, founding member and luncheon sponsor. The other sponsors were Grace Trading, Phoenix Shipping & Trading, and Steel Ships.
Tribute for their consistent & valuable contribution, was given to first members Mr. Yannis Xylas, Mr. George Gourdomichalis, Mr. Alexandros Glykas, PROJECT CONNECT Chairman Mr. Nikolaos Tsalamanios, Capt. Dimitrios Mattheou, in addition to, Honorary Chairman Mr. George Tsavliris for introducing the idea of Adopt a Ship. All were presented with unique commemorative sculptures of vessels made by the late artist, EVA DIVARI.
PROJECT CONNECT, established in 2015, is a NPO that supports young professionals in-the making to jump-start their careers in the shipping industry. With more than 70 successful work-placements, PROJECT CONNECT is a net contributor to helping Greece’s next generation workforce; all thanks to the support of its members – reputable shipping and maritime companies.
The goal is to increase the number of available internships, and entry-level opportunities to selected and screened candidates, using Greece’s first Shipping HR Hub for young people, a well-organized ONLINE CV PLATFORM by PROJECT CONNECT.
Dr. Adamantia Spanaka, Philologist and Professor, Advisor at the Hellenic Open University and Official Educator’s Advisor of PROJECT CONNECT, presented the progress of the ADOPT-a- SHIP. The Cypriot educational program was brought to Greece by PROJECT CONNECT in January 2019 and has already succeeded in bringing maritime knowledge into Greek elementary, Jr High & Vocational schools, nationwide. More than 10,000 pupils have already benefited from this program. Classrooms communicate via e-mail with Captains across the globe on their adopted ship; they learn about geography, trade & commerce, cargo, operations, weather, Greek Shipping history and its impact, English language writing skills, teamwork, empathy, and gain personal insights from life at sea. They also get to consider a future profession in the maritime industry.
The numbers speak for themselves:
A videotaped congratulatory message was delivered by Ms. Niki Kerameos, Minister of Education and Religious Affairs. She described the program as “a hub that connects more and more students with our long-standing maritime tradition through experiential learning.” It was during her tenure as Minister that ADOPT-a-SHIP has flourished and grown throughout Greece.
She will soon be presented with a commemorative steel sculpture - by Eva Divari - the bow of a ship symbolizing she is at the forefront of maritime education in the Greek school system.
The luncheon’s honorary guest was Mrs. Eugenia Manolidou, Head of Greek Education Studies at the School of Ancient Greek, History and Philosophy. Among many supportive comments, she stressed the importance of seafaring in the consciousness of the Greeks since ancient times and how this can – and should – be promoted to future generations of Greek students.

The 3D VIRTUAL SHIPPING COMPANY TOUR followed. This video, scripted and executed by PROJECT CONNECT, offers a unique insight into a Greek shipping company, including departmental narrations, explanations of respective positions and overviews of roles with their day-to-day activities. Mr. Nikos Tsalamanios, Co-CEO of Seaven Group and Chairman of PROJECT CONNECT, sponsored the project: https://www.youtube.com/watch?v=Ix4ulO9d9d4
The ONLINE CV PLATFORM already contains 95 prospective students and graduates of maritime studies and marine academies seeking placement. They have taken a gamified psychometric (soft skills) test (by Owiwi) and companies are invited to inspect available candidates and offer them placements.
These accomplishments benefit the youth of today and strengthen the shipping industry of tomorrow. Ms. Notias presented 2023’s targets & plans for future: (1) Double the membership, (2) Increase internships & entry level job placements, (3) Continue ADOPT-A-SHIP growth to 200 vessels, and (4) to successfully kick-start a series of sponsored internships “IN MEMORY OF” passed shipping personalities and their inspiring role.
PROJECT CONNECT is an initiative of hope which actively promotes change and competitiveness for a better future for Greek youth, Greek shipping, and Greece.
Members, institutions that attended: Antonios & Ioannis Angelicoussis Foundation. Alassia Newships Management. Ariston Navigation Corp. Bernhard Schulte Shipmanagement (Hellas). Capital Executive Ship Management. Chandris (Hellas). Chronos Shipping. Costamare Shipping. Cyprus Sea Lines. D. Koronakis. Danaos Shipping. Diana Shipping Services. Dynamarine. Elnavi Shipping Magazine. Empire Chemical Tankers. Empire Navigation. Eurobulk. GAC Shipping. GANMAR Shipping. Jeanne D’ Arc. Load Line Marine. Lotus Shipping. Marchand Navigation. Marine Tours. maritimes.gr. Metropolitan College. MyPhilo. Oceanbulk Maritime. Phoenix Shipping Trading. Polforce Shipping. Queensway Navigation. Seanergy Maritime Holdings. Seaven Group. Sevenseas Investment Funds. Shipowners Claims Bureau. Sing Fuels. Starbulk. SteelShips. Technomar Shipping. The American P&I Club. The Swedish Club of Piraeus.
Amongst honored guests: Mrs. Katerina Potamianou, PROJECT CONNECT Ambassador. Mr. Evangelos Angelakos (Angelakos). Mr. George Xiradakis (XRTC). Mr. George Alexandratos (Hellenic Chamber of Shipping). And last but not least, Mr. Nigel Lowry (Lloyd’s List, Director/Host of Lloyd’s List Greek Shipping Awards, Founder/Director of Greek Shipping Hall of Fame).

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The operational performance of a vessel is set to be boosted with an innovative new digital solution designed to provide a holistic ship management system that brings together the fragmented capabilities of data collection and analysis under one platform.
The project, which is a collaboration between Columbia Shipmanagement (CSM), Blue Dynamics (BD) and the Cyprus Marine and Maritime Institute (CMMI), has been two years in the making and is due to be launched in July 2023. The project is co-funded by the European Union, and the Republic of Cyprus via the Research and Innovation Foundation.
Columbia’s PANGIA consortium focuses on what Pankaj Sharma, Columbia Group Director Digital Performance Optimisation, refers to as “the user of the future” and banks on their growing up immersed in technologies that will play a critical role in the industry’s evolution.  The PANGIA vision creates something for that future that includes holo-lenses and virtual reality synaptic technology offers a “hands-on” experience, not only for training but also extending to onboard maintenance, connecting shoreside expertise with personnel at sea.
Through advanced data analytics and expert human input, the platform plans to boost vessel performance, reduce fuel consumption, and, through machine learning, offer proactive maintenance planning and the early detection of health hazards to protect the health and safety of crews and passengers onboard the ships.
The PANGIA tool offers a range of services to ship managers, operators, owners and banks, among others. The services include data management, standardisation, and advanced data analytics and machine learning application to identify trends and help with maintenance planning. Through PANGIA, Columbia’s clients benefit from improved digitalization driven by AI.  The POCR can collate and interpret an array of industry intelligence that allows its clients to optimize their decision-making processes regardless of where any vessel in their fleet is located.
Mark O’Neil, Columbia Group CEO, said: “The PANGIA project has been the result of a productive collaboration between CSM, BD and CMMI, looking to produce a revolutionary new platform for ship managers and operators that integrates the currently fragmented capabilities of data collection and analysis.
“Columbia is proud to be working with our partners on this pioneering development of our Performance Optimization Control Room (POCR) and to be leading the way in ground-breaking projects to promote sustainability, while utilising the very best of technological advancements to protect the environment and deliver cost efficiencies to ship managers and operators.”
PANGIA is the evolution of the POCR services that Columbia has developed over the past three years, and Columbia now seeks to pave the way for leading technological advancements to enhance sustainability and deliver cost-cutting solutions. One of the objectives of Columbia’s POCR is to set the company apart from its competition with a more proactive approach to ship management, effectively initiating oversight of a vessel’s transit voyage before it even starts.  A relatively new aspect of this approach is the monitoring of sanction areas and other areas of increased risk.

Image: Pankaj Sharma, Columbia Group Director Digital Performance Optimisation

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