Greek shipping industry leaders came together to discuss the latest advances in maritime technologies such as nuclear power, air lubrication and remote survey services at the annual ABS Hellenic Technical Committee Meeting.
The event also provided an ideal opportunity to introduce ABS’ latest publication, Technology Trends: Exploring the Future of Maritime Innovation. In the report, ABS offers an executive glimpse into the future of advanced marine and offshore technologies, laying out a vision and timeline for key technological milestones on the journey to net-zero emissions and digitalization.
“Innovation in the maritime industry is cyclical, and we’re on the verge of a new wave of technologies and change,” said Patrick Ryan, ABS Senior Vice President, Global Engineering and Technology. “Guided by close collaboration with industry leaders here in Athens and beyond, and our own understanding of the market, ABS is able to share where we think these technologies are going.
Ryan was invited to speak to the members about nuclear power and its opportunity to support the maritime industry.
“ABS classed the first U.S. flag commercial nuclear vessel 60 years ago. Today, nuclear power is being studied as a possible low-to-zero emission power source for vessels, and ABS is supporting this technology with a sharp focus on safety. The possible applications in today’s environment are fascinating,” said Ryan.
Takis Pappas from Silverstream provided a look into the latest advances with air lubrication technologies that promise to support lower operational expenses and improved transportation efficiencies.
Guest speaker María Mercedes De Juan Muñoyerro from the Innovation and Port Cluster Development Technical Team at the Port of Valencia focused on the opportunities and challenges associated with decarbonization in the shipping industry.
Lambros Nakos, Executive Director at Hydrus Engineering S.A. joined ABS’ Konstantinos Voutzoulidis to present information on the NH3CRAFT Consortium, a multidisciplinary group composed of 12 partners from six countries within the European Union that aims to develop a next generation sustainable, commercially attractive and safe technology for high-volume storage and transportation of ammonia as fuel on-board ships.
“Close collaboration with industry leaders is key to understanding the market, and committee meetings such as these are very important for ABS to connect and continue the dialogue about trending technologies. I am thankful to all the attendees and guest speakers for providing another robust session,” said Dr. Chris Leontopoulos, ABS Committee Chair and Director of the Global Ship Systems Center.
“It is always a pleasure to attend the ABS Hellenic Technical Committee meeting with a variety of the most interesting contemporary technical topics, varying from presentations on decarbonization and remote surveys to lively conversations about ‘spare parts’,” said Miltos Zisis, Committee Member and Managing Director of Capital Gas Ship Management Corp.
To download a copy of the ABS publication Technology Trends: Exploring the Future of Maritime Innovation, click here.
About ABS
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.

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Dr George Dimopoulos, Head of DNV Maritime’s R&D and Advisory Unit, DNV Maritime, will join the NTUA Faculty of Naval Architecture and Marine Engineering. Mr Dimopoulos will be working in the field of marine energy systems, enhancing vessel efficiency and performance, new fuels, and maristime decarbonization.    
“I am thrilled that George Dimopoulos has been appointed to this prestigious position,” said Ioannis Chiotopoulos, Senior Vice President and Regional Manager South-East Europe, Middle East and Africa. “In addition to being a brilliant scientist, he is a warm and much-loved colleague, and we wish him an equally brilliant career in Academia. George will remain an External Advisor for DNV Maritime, which I am sure will further strengthen our connection to the Greek academic and research community.”
“George has been key in delivering maritime advisory services and research and development projects over many years,” said Morten A Lerø, Managing Director of Maritime Advisory. “Customers and colleagues from all over the world, especially in Greece, have benefited from his deep understanding of the maritime industry. I wish George all the best at NTUA and look forward to working with George in this new setting.”
“Taking on this role at NTUA, is an exciting new challenge,” said George Dimopoulos. “With the rapid transformations already underway across the maritime industry, the need for research and innovation is more vital than ever. I want to thank DNV, an organization that fosters innovation and encourages personal development, but even more my colleagues worldwide who have broadened my scientific horizons over these past 14 years.”
The NTUA is Greece's oldest and most prestigious technical university, founded in 1837. The School of Naval Architecture and Marine Engineering (SNAME) was founded in 1969, covering all aspects of ship design, construction, marine hydrodynamics, marine engineering, and economics.
About DNV
We are the independent expert in risk management and quality assurance. Driven by our purpose, to safeguard life, property and the environment, we empower our customers and their stakeholders with facts and reliable insights so that critical decisions can be made with confidence. As a trusted voice for many of the world’s most successful organizations, we use our knowledge to advance safety and performance, set industry benchmarks, and inspire and invent solutions to tackle global transformations. 
DNV in the maritime industry
DNV is the world’s leading classification society and a recognized advisor for the maritime industry. We enhance safety, quality, energy efficiency and environmental performance of the global shipping industry – across all vessel types and offshore structures. We invest heavily in research and development to find solutions, together with the industry, that address strategic, operational or regulatory challenges. For more information visit: www.dnv.com/maritime

Image caption: George Dimopoulos

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On the occasion of a presentation by The Hellenic Association of Insurance Companies that One Global senior management attended on Tuesday Dec 6^th, 2022 in London with the theme, Greek Economy and Insurance Market Outlook, Challenges & Prospects – we had the honor of being joined by our guest Mr John Kefallogiannis, Former Deputy Minister of Infrastructure & Transport in Greece and Member of Parliament with the current Greek administration.
The presentation was hosted by Lloyds in the Old Library and given the opportunity, Mr Kefallogiannis was given a tour of the Lloyds Building as well as the One Global offices located at 30 St Mary Axe, and met with company executives, Jonathan Palmer-Brown, Group Chairman, Mike Reynolds, Group CEO, George A. Tsavliris, Non-Executive Chairman Greece & Cyprus, Manos Sofronis, CEO Greece & Cyprus. Mr Kefallogiannis was also introduced to Iain Henstridge - Chair Joint Hull Committee  & Head of Apollo Syndicate Management Limited and Andrew Moulton – Chairman of Joint War Committee  &  Class Underwriter of Ascot Underwriting Limited.
Image: Jonathan Palmer-Brown – Group Chairman Oneglobal, Iain Henstridge - Chair Joint Hull Committee  & Head of Apollo Syndicate Management Limited, Andrew Moulton – Chairman of Joint War Committee  &  Class Underwriter of Ascot Underwriting Limited Manos Sofronis, CEO Oneglobal Greece & Cyprus, George Tsavliris – Non -Executive Chairman Oneglobal Greece & Cyprus, John Kefallogiannis – Former Deputy Minister of Infrastructure & Transport in Greece, Mike Reynolds -  Group CEO Oneglobal

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On Thursday, December 15, 2022, the Ambassador and General Consul of Panama in Greece, H.E. Ms. Julie Lymberopulos participated together with the Women Ambassadors accredited in Greece in a special Christmas Tour and Luncheon in Piraeus, organized by Ms. Irene Daifas, CEO, Stavros Daifas Maritime Corporation S.A. in her capacity as Authorized Municipal Councilor of Culture of Municipality of Piraeus, under the auspices of the Municipality of Piraeus.
It is important to note that this joint action of the Embassy of Panama in Greece with the esteemed Mrs. Irene Daifas and the Municipality of Piraeus was a consequence of the recent sisterhood between the city of Piraeus and the city of Panama. The two cities were declared sister cities in July 2021, within the current diplomatic mission of H.E. Ms. Julie Lymberopulos.
This event was a significant common action which aspires to bring closer and create an essential relationship between the diplomatic missions accredited in Greece and the important city of Piraeus, which except for a major and dynamic port also constitutes a rich cultural center of education, innovation, and creativity.
The Women Ambassadors attended a guided tour to the unique permanent collection of paintings and sculpture of the Municipal Gallery of Piraeus. Then, they were welcomed to the Municipal Theatre of Piraeus by Mr. Lefteris Giovanidis, the Artistic Direct, who guided the ladies Ambassadors in the emblematic building presenting the history of the Theatre, its role and importance in the cultural and social life of Piraeus and Attica in general.
As a beautiful closure of this special day in Piraeus, the ladies Ambassadors enjoyed a Christmas Luncheon at the Piraeus Marine Club, kindly offered by Mrs. Irene Daifas.
The Women Ambassadors accredited in Athens, who participated in this action were (in alphabetical order):

1. Ambassador Luela Hajdaraga, Albania
2. Ambassador Francoise Gustin, Belgium
3. Ambassador Milica Ristović, Bosnia-Herzegovina
4. Ambassador Karine Asselin, Canada
5. Ambassador Marisol Perez, Chile
6. Ambassador Karin Rannu, Estonia
7. Ambassador Iseult Fitzgerald, Ireland
8. Ambassador Patrizia Falcinelli, Italy
9. Ambassador Ieva Briede, Latvia
10. Ambassador, Lina Skerstonaite, Lithuania
11. Ambassador, Elsabeth Cardoso, Luxembourg
12. Ambassador Ana Vukadinović, Montenegro
13. Ambassador Nimi Akinkugbe Nigeria
14. Ambassador Lidija Boshkovska, North Macedonia
15. Ambassador Helena Paiva, Portugal
16. Ambassador Marcela Hanusová, Slovakia
17. Ambassador Tamara Weingerl Požar, Slovenia
18. Ambassador Susanna Terstal, the Netherlands

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Tatham & Co expand their presence into the Greek market with the addition of a senior Athens-based lawyer to its growing team. 
Ioanna Vitta brings with her over 30 years of experience, specialising in dry shipping. A qualified Greek and English lawyer, Ioanna is also a well regarded and well-known figure in Piraeus and Athens.
The move comes following the addition of Chris Farmer, a solicitor Master Mariner, who joined the team earlier in the year to increase the firm’s Admiralty capability. Bringing in an experienced lawyer based in Greece is the next step for Tatham & Co. in consolidating its business in this area and in supporting its Mediterranean clients and the wider shipping industry.
Tatham & Co. Senior Partner Simon Tatham said: “The recruitment of Ioanna Vitta marks an important moment in the firm’s development, and we are both delighted and excited. 
Being retained regularly by blue-chip Greek shipowners, having a highly experienced and respected solicitor on-hand in Greece is a perfect fit for us.  Ioanna is a senior member of the Athens legal community, she has a strong following herself and is known, respected and instructed by owners and the Piraeus based Clubs alike. 
Most importantly for the firm’s clients, Ioanna will have the back-up of a strong and growing team in London covering dry, wet, marine insurance and special situations. The Admiralty and Crisis Response team has been strengthened on the wet side by the arrival of Chris Farmer [from Inces] and with a further senior ex-Master Mariner solicitor joining us in the New Year, we will be working closely with Ioanna to ensure that our Greek clients are given the best possible service.”
Led by founding partners Stephen Askins, Simon Tatham, and James Hickland, Tatham & Co. continues to grow and win recognition in the industry and this new hire further strengthens its reputation and reach.
Recent accolades include being honoured by the Law Society as the ‘best in its category’ in 2021, as well as the recent success in the Court of Appeal in the widely reported Tilawa case involving treasure salvage and issues of sovereign immunity.

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More than 30 maritime industry technical leaders attended the 34th Hellenic Marine Technical Committee Meeting of Bureau Veritas Piraeus on Monday 05th December 2022 at Grand Hyatt Hotel, Athens. The meeting was hosted by Mr. George Andreadis, Marine Chief Executive Greece and was chaired by the Committee Chairman, Mr. George Sarris, President of Enterprises Shipping & Trading S.A.
The event was opened with Mr. Vassilis Dimoulas, Technology and Innovation Manager for Greece, Cyprus and Malta who provided a thorough update on the application of the upcoming IMO regulations; EEXI and CII and the challenges faced with the various power limitation options and CII corrections. Mr. Konstantinos Chatzitolios, Project Development Leader, Greece, Cyprus & Malta, Bureau Veritas, presented a study of the world fleet performance trends, including CII for the last 3 years, revealing the sectors and subsectors with the best and worst performance as well as the possible reasons behind. Vassilios Dimoulas finished the first session with another study that examined the benefits of using biofuels in the CII and EU ETS as well as the related cost for three different ship types. A lively open discussion followed, about the application of the EEXI power limitation.
The second session of the Committee commenced with guest speaker Dr. Sangram K. Nanda, General Manager Product Management & Engineering from Wärtsilä Services, who presented this prominent maker’s solutions for retrofits aimed at decarbonizing the existing fleet. He was followed by Dr John Kokarakis, Technology & Business Development Director of South East Europe, Black Sea and Adriatic Zone Bureau Veritas who set a question of Shakespearean flavor: “To build or not to build? Build the Future-Proof Ship or Retrofit”. The Committee concluded  with an open discussion about how owners plan their movements towards meeting the IMO targets for 2030 and 2050 and how this is affecting their fleet renewal plans.
Mr. Andreadis stated: “2022 committee has brought a real sense of momentum. At Bureau Veritas we are pleased to see operational progress. Decarbonization remains equally a key challenge and an amazing opportunity for the industry. At BV, we continue to support our clients. Our mission is to be by our clients’ side and help them navigate the energy transition. We help to perform impact studies of the new IMO regulations, we offer insights through technical seminars, publications, and webinars. It was inspirational to discuss with Greek shipowners who remain committed to help shape the industry of the future.”

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Within the context of the 24th Annual Capital Link Invest in Greece Forum “Sustaining Growth & Investment Momentum,” the New York Stock Exchange in cooperation with Capital Link organized for yet another year, a special ceremony, in honor of Greece, titled “GREEK AMERICAN ISSUER DAY” at the New York Stock Exchange.
The New York Stock Exchange (NYSE) flew the Greek flag on Wall Street and issued special commemorative medals to honor the occasion.
The ceremony was held with the participation of Greek Ministers, the President of ATHEX Group and high level executives representing shipping and other companies listed in the New York Stock Exchange, as well as representatives of companies that participate next day Friday, December 9th, at the “24th Annual Capital Link Invest in Greece Forum “Sustaining Growth & Investment Momentum,”. The Annual Capital Link Invest In Greece Forum, an international summit about Greece taking place in New York annually, is organized this year in cooperation with the New York Stock Exchange, the Athens Exchange and major investment banks.
John Tuttle – Vice Chairman NYSE & President NYSE Institute Intercontinental Exchange Inc. (NYSE: ICE) welcomed the Greek Delegation and the NYSE listed companies. He highlighted the long-standing relationship between the New York Stock Exchange and the Greek and Greek-American business communities, and also pointed out that NYSE’s commitment to the Greek American diaspora, the Greek shipping and business community and the listed companies, remains strong.
Following Mr. Tuttle’s remarks, the Minister of Finance, H.E. Christos Staikouras, Dr. Nikolas P. Tsakos, Founder, President & CEO, TEN Ltd. (NYSE: TNP), and Mr. Yianos Kontopoulos, CEO, ATHEX Group, each delivered brief remarks in honor of the day. They referred to the increasing attractiveness of Greece as a business and investment destination, the internationalization of Greek businesses, the close relations between the United States and Greece across the board and also thanked the New York Stock Exchange for the long standing cooperation and support and for hosting today’s event.
Prior to the closing bell ceremony, an exchange of commemorative gifts took place between Mr. John Tuttle – Vice Chairman NYSE & President NYSE Institute, Intercontinental Exchange Inc. (NYSE: ICE), Dr. Nikolas P. Tsakos, Founder, President & CEO, TEN Ltd. (NYSE: TNP), H.E. Christos Staikouras, Minister of Finance and Mr. Yianos Kontopoulos, CEO of ATHEX Group.
Dr. Nikolas P. Tsakos, Founder, President & CEO, TEN Ltd. (NYSE: TNP), H.E. Christos Staikouras, Minister of Finance, and Mr. Yianos Kontopoulos, CEO of the Athens Exchange, rang the “Closing Bell”, closing the trading session on Thursday, December 8, 2022, of the NYSE-New York Stock Exchange, accompanied by: the Vice Chairman of NYSE & President of NYSE Institute, Intercontinental Exchange Inc. (NYSE: ICE), Mr. John Tuttle, the Alternate Minister of Finance, H.E. Theodore Skylakakis, the Deputy Minister of Development & Investments, H.E. Yannis Tsakiris, the Secretary General, Ministry of Tourism, Mrs. Olympia Anastasopoulou, the Chair of the Hellenic Capital Markets Commission, Dr. Vassiliki Lazarakou, the Consul General of Greece in New York, Mr. Dino Konstantinou, and representatives of NYSE listed companies: Ms. Marina Hadjipateras – Dorian LPG (NYSE: LPG), Mr. Steve Demetriou – CEO, Jacobs (NYSE: J) as well as Ms. Olga Bornozi, Managing Director – Capital Link, and Mr. Nicolas Bornozis, President - Capital Link.
 The event was broadcasted live on major news stations in the United States and abroad to an estimated audience of 150 million viewers worldwide.
The active support and participation of NYSE, the world's largest stock exchange, enhances the prestige and the visibility of Greece to a wider international investment audience. It also shows the stable support of NYSE to Greece, the Greek companies, the Greek shipping industry and the Greek American Diaspora. The US Capital Markets are a major source of capital for a growing number of companies of Greek interest and the New York Stock Exchange is playing a leading role in this.

Within the context of the 24th Annual Capital Link Invest in Greece Forum the New York Stock Exchange in cooperation with Capital Link organized a special ceremony in honor of Greece titled “Greek American Issuer Day at NYSE”.
Dr. Nikolas P. Tsakos, Founder, President & CEO, TEN Ltd. (NYSE: TNP), H.E. Christos Staikouras, Minister of Finance,  and Mr. Yianos Kontopoulos, CEO of ATHEX Group, rang the “Closing Bell”, closing the trading session on Thursday, December 8, 2022, of the NYSE-New York Stock Exchange 

Video:  https://forums.capitallink.com/greece/2022/NYSE_Bell.mp4

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The Institute of Chartered Shipbrokers Greek Branch held its 17th Annual Forum, on Wednesday, 7th of December 2022. The title was: “Moving Forward with the World in Turmoil”.
This year’s event took place with physical attendance at the Eugenides Foundation, while it was broadcasted live around the world and attended online by hundreds of friends and members of the Institute.
A welcome address was made by Ms Natalia Margioli - Komninou FICS, Managing Director of the ICS Greek Branch and Hellenic Management Centre who explained how this year’s theme aimed to capture the many challenges facing the shipping industry. She also recognised the continuous support of shipping companies to advance the skills of their human resources, something which has contributed to the resilient character and the progression demonstrated by the Greek professionals.
Mr Nicolas A. Tsavliris, FICS, Chairman of the ICS Greek Branch and Tsavliris Salvage Group acknowledged how important the resilience and the adaptability of shipping industry is to survive every crisis and to - historically - emerge stronger. He emphasized that the ICS annual Forum provides an excellent opportunity for brainstorming and thanked the distinguished industry leaders for accepting the invitation to debate important issues emanating from the theme of the Forum. The Chairman thanked all sponsors whose contribution has been vital in the organisation of the event.
Minister Ioannis Plakiotakis stressed that adaptability, sustainability, and reliability are the elements on which the industry will need to rely on for the years to come.
Following the Minister’s speech, the Forum’s proceedings commenced. The panel included the following distinguished speakers:

• Ms Alexandra Couvadelli, Senior Claims Director (P&I and FD&D), Thomas Miller Hellas
• Mr Polys V. Hajioannou, Chairman/CEO, Safe Bulkers Inc.
• Mr Thanasis Martinos, Managing Director, Eastern Mediterranean Maritime Ltd.
• Mr George Prokopiou, Founder, Dynacom Tankers Management Ltd., Dynagas Ltd. and Sea Traders S.A.
• Mr Stephen Thompson, Global Head of LNG, Poten & Partners
• Ms Eri Tsironi, Chief Financial Officer, Navios Maritime Partners LP

The panel was moderated by Mr Simon Ward, FICS, Director, Ursa Shipbrokers.
Ms Ioanna Prokopiou, Managing Director of Prominence Maritime and Sea Traders, also joined the panel.
The forum itself was very informative and comprehensive covering a spectrum of issues facing the shipping industry at a global level. A large part of the discussion has been around the turmoil created by the geopolitical tensions closely intertwined with many economic conditions worldwide. Notably, the war in Ukraine and the related EU sanctions against Russia have disrupted the energy market, making crude oil prices unpredictable and VLCC rates even more volatile. At the same time, relaxation of China’s pandemic measures is expected to positively influence the dry bulk freight market. Special mention was made of the currently booming LNG market which, however, needs to develop and mature.
On what concerns the financing of the industry, it has been remarked that a two-tier financing system has been shaped; on the one hand, the highly regulated European sector with banks greatly focusing on the “E” of the ESG policy and, on the other hand, the Asian market mostly lagging behind in the green financing. All participants underscored that shipping is a cyclical industry and, whatever the challenges, it is sure that it will overcome challenges and adapt to the upcoming changes.
The last part of the panel discussion focused on the younger generation of students and graduates who desire to enter the industry. All of the speakers agreed on the fact that many opportunities exist, especially as new professions emerge with the integration of the 4th Industrial Revolution applications. Despite the many challenges, there is plenty of room in the Greek shipping industry offering well-paying jobs and opportunities for career growth together with social development. It has been commented that there is always a shortage for talent, for motivated young people with high quality education and skills. 
A special moment in this year’s Forum was the award given to Mr Harry Hadjimichail, Fellow Member of the Institute of Chartered Shipbrokers and General Manager at Tsakos Shipping and Trading S.A., in recognition of his long-standing dedication, support, and contribution during his 50 years’ membership.
He has witnessed the significant role of the ICS in providing a well-educated workforce and enjoyed - as a Fellow - the benefits of being linked to the international shipping community. The award was presented to Mr Hadjimichail by the International President of the ICS, Mr Kevin Shakesheff.
The ICS Greek Branch was recognised, again this year, for being the largest examination centre in the world and having trained more than 10,000 shipping professionals through its professional maritime programmes since its establishment. This excellent performance of the Greek Branch is translated into one International Prize Winner and 9 distinction students, who have excelled in the ICS Professional Qualifying Examinations in 2021-2022 were honoured during the Awards Giving Ceremony.
The International Prize Winner was Anthi Efthymiadi of Latsco Shipping, for achieving the highest marks in Ship Sale and Purchase Examinations worldwide.

The distinction students are:

• Panagiotis Badas, Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations
• Nicholas Georgiou, Eurochart S.A.: Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations
• Athina Evangelou, Euronav Ship Management (Hellas) Ltd: Award to the candidate gaining a distinction in Economics of Sea Transport and International Trade Examinations
• Christos Kampakis, V.CH. Kampakis Shipping Agency Ltd: Award to the candidate gaining a distinction in Port Agency Examinations
• Rafail Kanakis, George Moundreas & Company: Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations
• Konstantinos Kotsiou, Starbulk S.A: Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations
• Konstantinos Liontos, Union Marine Enterprises S.A.: Award to the candidate gaining a distinction in Shipping Finance and Ship Sale and Purchase Examinations
• Marios Papamichalopoulos, ABS: Award to the candidate gaining a distinction in Legal Principles in Shipping Business Examinations
• Iliana Tzitzi, Pantheon Tankers Management Ltd.: Award to the candidate gaining a distinction in Legal Principles in Shipping Business Examinations

Present at the conference were the Minister of Maritime Affairs & Insular Policy, Mr. Giannis Plakiotakis, the British Ambassador to Greece, Mr. Matthew Lodge, the Parliamentary Under-Secretary of State for Europe, Mr. Leo Docherty.
The 17th Annual Forum of the ICS Greek Branch was held with the kind contribution and support of the following sponsors: AB Maritime Inc., Acropolis Chartering & Shipping Inc, Arrow Shipbroking Group, Capital Ship Management Corp., Clarksons Hellas Ltd, Danaos Shipping Co. Ltd, Danaos Management Consultant S.A., Dorian LPG Management Corp, Eastern Mediterranean Maritime Ltd, Element Shipmanagement S.A., GAC Shipping S.A., Hellaschart Ltd, Holman Fenwick Willan International LLP, Horizon Tankers Limited SA, Insight Shipping, The Marshall Islands Registry International Registries Inc., Marine Traffic, Navios Maritime Partners L.P., Nereus Shipping S.A., Safe Bulkers Inc., Seaborne Shipbrokers S.A., Seanergy Maritime Holdings Corp., Star Bulk Carriers Corp., Target Marine S.A., Tsakos Energy Navigation Ltd., Trafigura, Tsavliris Salvage Group, Ursa Shipbrokers S.A

The 17th Annual Forum is available for replay on demand at the following link:17th ICS ANNUAL FORUM - YouTube

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Detailed back testing of actual CO2 emissions of circa 40 tankers that have been part of the Signal Maritime pool against Signal Ocean’s algorithm-based estimates has shown that real-time emission estimates are accurate within less than a 10% margin of error.
The power and simplicity of real-time emission estimates have been recently underlined in pretty much all of this year’s ESG fora, but accuracy is critical if owners, charterers and traders are to depend on them as a trustworthy indicator of a vessel’s CII (Carbon Intensity Indicator) rating in 2023 and beyond. The International Maritime Organization’s MARPOL Annex VI Carbon Intensity Indicator legislation takes effect from 1 January 2023.  
With charterers now taking contractual responsibility for a vessel’s ship emissions under BIMCO’s new model CII clause, the need for real-time accurate CII assessments for any vessel based on its actual activity is critical. Whilst every vessel above 5000 GT will have a publicly available CII rating ranging from A to E, this rating will only describe a ship’s performance in the previous calendar year and not how it has performed so far this year, nor how it is likely to perform tomorrow or for the rest of the year.
The vessel emission features offered through the Signal Ocean platform, and the Vessel Emissions API allow shipping participants to see in a simple, systematic and consistent way emissions for any proposed voyage and enable meaningful benchmarking and comparisons.
Signal Ocean COO Dimitris Tsapoulis said: “CII estimations for any vessel or voyage, past, current or future, allow Signal Ocean users to factor in environmental performance at the time they are weighing their chartering options. Anecdotally, traders using the service reported back accuracies that were very close to their own internal calculations, based on actual measurements; we were delighted to see yet another data point in Signal Maritime’s figures.”
He added: “What is even more inspiring than seeing a system with high accuracy estimations is to see the Signal Maritime team producing top-of-class environmental performance by closely tracking and simulating it through data. Environmental performance will undoubtedly play an increasingly critical role in economic success as we approach 2030 and beyond.”
The Signal Ocean estimates vessel emissions, like CO2, from AIS data converted into voyages, where all stops for bunkering operations, idle times, repairs, loads and discharge operations are taken into account. At sea, ballast and laden legs and Sulphur Emission Control Area navigation times are clearly defined. Fuel consumption is mapped to different fuel types (VLSFO, MGO, HSFO) based on the area that vessels have been trading, as well as taking into consideration a rich set of vessel particulars, including dimensions, the country built, and year built, scrubber fitting, consumption curves, operational conditions and vessel speeds.
Earlier this year, the algorithm underpinning Signal Ocean's estimates of vessel CO2 emissions was verified as meeting IMO guidelines by the independent classification society DNV. The service is available for tankers, dry bulk and LPG vessels. 

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Tototheo Maritime Co-CEO, Despina Panayiotou Theodosiou, has been included in the Lloyd’s List Top 100 People in Shipping for the sixth year running. Jumping six places in the 2022 listing, she shares the No. 83 spot with Elpi Petraki, who was elected to take over from Mrs Panayiotou Theodosiou as WISTA International President in October 2022 following the completion of her tenure.
The Lloyd’s List Top 100 listing recognises influential individuals who are driving change in shipping. This year’s list has been compiled during a volatile period for an industry which also faces the key challenges of decarbonisation and digitalisation.
Mrs Panayiotou Theodosiou said: “I am truly honoured to feature in the Lloyd’s List Top 100 People in Shipping and I am delighted to share this position with the new WISTA International President, Elpi Petraki. Over the last five years I have made it my mission to increase diversity in shipping and to level the playing field to provide greater opportunities for everyone, while raising awareness of digitalisation, the opportunities it can create and how new technologies can help shape our industry’s future.
“I feel very privileged to be included in this coveted list for the sixth time; it is a position I do not take for granted and am proud to represent WISTA and people working in technology on this list as we continue to try and create a more sustainable future.”
In addition to her role at Tototheo, Mrs Theodosiou holds a number of other positions including Chair of the Electricity Authority of Cyprus, and is a board member of various organizations including the Cyprus Shipping Chamber, the Cyprus Employers and Industrialists Federation, and many others.

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