Capital Gas Ship Management Corp. took delivery of the world’s first 22,000 cbm low-pressure liquid CO2 (“LCO₂”) / Multigas carrier, the Active, from Hyundai Mipo Dockyard Co., Ltd.

The Active is the first of four 22,000 cbm LCO2/multi-gas sister carriers to be delivered by HMD in 2026. The vessel is designed to transport LCO2 and features multi-cargo capability: LCO2, LPG, ammonia, and selected petrochemicals.

The Active recently won the Lloyd’s List Greek Shipping 2025 “Ship of the Year” Award “for opening a new chapter in future carbon transportation solutions” and its “revolutionary tank technology and multi-cargo flexibility”.

Capital Gas Ship Management Corp. is a ship management service provider, currently operating a fleet of 21 modern LNG Carriers, 8 dual fuel LPG carriers, 4 pioneering LCO2 carriers and 2 dual fuel VLACs (Very Large Ammonia Carriers) with a total carrying capacity of approximately 4.3 million cubic meters. The fleet under management includes vessels of Nasdaq-listed Capital Clean Energy Carriers Corp.

For a time-lapse construction video of Active, please click here 

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Avin International has made a strategic step joining Ahti’s FuelEU Maritime compliance pool.

Avin manages a fleet of about 35 oil and chemical tankers with a total capacity exceeding 2.5 million tonnes and employs over 2,000 shore and sea personnel. The company has constructed the world’s first ammonia-ready Suezmax vessel and continues to invest in future-ready tonnage.

By joining Ahti Pool, Avin enhances its FuelEU Maritime strategy by complementing its own decarbonisation initiatives with a structured, market-grade compliance mechanism. The Pool provides an additional layer of flexibility and alignment with the regulation, supporting Avin as it advances its broader decarbonisation roadmap across its fleet.

Built specifically for FuelEU Maritime, Ahti Pool manages fleets from owners and operators – including Van Weelde Group, Bore, Spliethoff, Stenersen, and Neste – and administers more than EUR 100 million of emissions exposure, providing members with robust, market‑grade compliance and strategic decarbonisation support.

Captain Pavlos Xagoraris, CEO of Avin International, said: “Joining Ahti Pool is a strategic step that strengthens our decarbonisation agenda and supports the next phase of our energy-transition journey. The Pool complements our own initiatives with a structured, market-aligned mechanism for managing FuelEU Maritime requirements across the fleet, enhancing our ability to deliver on our long-term environmental commitments.”

Risto Juhani Kariranta, CEO, Ahti Pool, said: “We are delighted to welcome Avin to Ahti Pool. Avin’s strong track record, investment in future‑ready tonnage, and commitment to operational excellence make them an ideal partner. Their entry strengthens the pool’s depth and diversity and enhances our ability to optimise compliance at scale for all Pool members.”

Photo credit: Avin International

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Aegean Protective Coatings S.A., representative of PPG in Greece completed a high-performance coating project during the dry docking of the tanker Apiliotis of Elin Shipping Co. at Chalkis Shipyards in October 2025.

During the dry docking, the hull of M/T Apiliotis was coated with PPG NEXEON 810, an ultra-low friction, premium performance copper-free antifouling, with the use of ESTA technology. This project marked another milestone in Aegean Protective Coatings’ ongoing effort to introduce sustainable and innovative coating technologies to the Greek shipping industry.

The Field Technical Service Team of Aegean and PPG played a key role in the project’s successful execution, providing on-site technical oversight and ensuring optimal application of the coating system. The execution was carried out in collaboration with Chalkis Shipyards, whose experienced team contributed to the smooth and efficient completion of the project.

PPG NEXEON 810 is an innovative copper-free antifouling solution with strong emphasis on performance sustainability and aesthetics. Building on over 25 years of successful copper-free coating development experience, PPG NEXEON 810 will help to achieve a reduction of up to 25% in greenhouse gas emissions and supports 60 days of idle time with minimal speed loss. Its unique formula integrates photodegradable biocides while also providing outstanding color retention throughout the entire service life of the vessel.

ESTA technology represents a significant advancement in marine coatings application, allowing superior paint adhesion, reduced material waste, and improved environmental sustainability. By utilizing an electrostatically charged spray method, the technique ensures a more uniform and efficient coating application compared to traditional methods.

With this pioneering project, Aegean Protective Coatings S.A. reaffirms its dedication to promoting PPG’s revolutionary marine coatings applications in Greece and paving the way for more efficient and environmentally friendly dry docking practices, bringing benefits to owners, operators and shipyards.

About Aegean Protective Coatings

Aegean Protective Coatings S.A. is the long-standing representative of PPG Coatings in Greece, providing innovative and high-performance coating solutions for the maritime industry. Through close collaboration with PPG, Aegean Protective Coatings S.A. delivers cutting-edge technology and technical expertise to shipowners and operators.

About PPG

PPG is a global leader in paints, coatings, and specialty materials. With a strong commitment to innovation, sustainability, and performance, PPG’s Protective and Marine Coatings Business delivers state-of-the-art solutions designed to extend the service life of assets and enhance operational efficiency.

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Piraeus Port Authority S.A. (PPA S.A.) has recently recorded a series of high-profile distinctions, confirming its steadily upward trajectory, strong financial performance and strategic commitment to the principles of responsible and sustainable entrepreneurship.

Specifically, the company was distinguished at the ICAP CRIF – True Leaders Awards, an institution that acknowledges companies with outstanding financial performance, strong creditworthiness and a consistent growth path. The True Leaders Awards are based on strict and objective criteria, including profitability, turnover growth, employment levels, and financial reliability, highlighting companies that serve as benchmarks of sound entrepreneurship within the Greek economy.

In parallel, Piraeus Port Authority was honored with the Diamond Elite distinction at the Diamonds of the Greek Economy 2025, a leading institution organized by Naftemporiki that highlights companies with a strong footprint in the Greek economy. The ELITE category applies to companies listed on the Athens Stock Exchange with high market capitalization and stable growth dynamics. It is worth noting that the Diamond Elite award was conferred on Piraeus Port Authority for the first time, as a result of the significant increase

in its market capitalization—an achievement that reflects market confidence and further enhances the company’s corporate value.

Of particular importance is also the distinction of PPA S.A. at the Diamonds of the Greek Economy 2025 – ESG Awards, also organized by Naftemporiki. The ESG Awards recognize companies that consistently integrate the principles of Environmental, Social and Governance (ESG) responsibility into their daily operations and the core of their strategic approach. This ESG Leading Award distinction, which PPA S.A. received for yet another year, confirms its leading role in responsible business practices and sustainable development.

The above distinctions collectively present a comprehensive picture of strategic maturity and financial strength, clearly reflecting the values and corporate culture of PPA S.A., which consistently invests in transparency, sustainable development and the creation of long-term value for the economy and society.

PPA S.A. continues to consolidate its position as a modern, reliable and responsible organization, making a substantial contribution to the country’s growth momentum and reinforcing the role of the Port of Piraeus as a strategic hub at both national and international levels.

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The International Flag-State Association (IFA), an association of the world’s three largest registries, Liberia, the Republic of the Marshall Islands, and the Republic of Panama, has been meeting since 2021.  IFA is the first alliance of its kind and was designed to allow its members to have a platform to more formally engage with respect to global challenges, stakeholder insight, and the development and implementation of international instruments to enhance maritime safety, security, the protection of the marine environment, and the welfare of seafarers, among others.

Unlike other maritime sectors, flag States previously lacked a dedicated and formal global platform. IFA aims to fill that gap. For example, in 2024, IFA members enhanced the capabilities of the successful Registry Information Sharing Compact (RISC) by improving the paths to information exchange through an integrated online database. The RISC database is an online tool for consultation among subscribed flag States that allows for easier access to details on problem vessels that may be evading regulations or engaging in suspicious activities.

While information sharing has been the priority to date for IFA, one of its next steps will be applying for consultative status at the International Maritime Organization to more actively contribute to international policymaking. 

IFA founding member representatives include Alfonso Castillero, Chief Executive Officer, Liberian International Ship and Corporate Registry; Bill Gallagher, Senior Deputy Commissioner of Maritime Affairs, Republic of the Marshall Islands Maritime Administrator; and Alexander De Gracia, Deputy Administrator, Panama Maritime Authority. Collectively, these founding member representatives agree that:

“IFA brings together the world’s most influential flag States, which represent more than 40% of the world’s gross tonnage, to promote higher maritime safety, security, environmental protection, seafarer welfare, and practical, globally harmonized rules and regulations. Shipping is a worldwide industry and maritime regulations must remain global.”

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The Ministry of Public Infrastructure and Industries (MPII) reaffirmed that the Palau Open Ship Registry continues to operate normally under the authority of the Government of the Republic of Palau, with all registry services being delivered without interruption through the Bureau of Marine Transportation.

Since 15 December 2025, the Bureau of Marine Transportation has ensured the uninterrupted provision of vessel registration, statutory certification, regulatory oversight, and flag-state administration services. The Government emphasised that all functions of the Registry remain fully in place and compliant with Palau’s legal and international obligations.

The recent amendments to the Maritime and Admiralty Act will allow the Ministry of Public Infrastructure and Industries to take the necessary steps to ensure a gradual and orderly transition, so that the efficient provision of registry services is not unduly interrupted during this period. By taking these measures, the Government has addressed issues arising from the Registry's previous corporate operating structure while ensuring that proven professional expertise and institutional knowledge continue to support the Palau Flag.

This approach reflects the Government’s commitment to strengthening governance and oversight, whilst maintaining continuity, experience, and confidence in the Registry’s operations. In this context, the Government of the Republic of Palau wishes to clarify that its recent administrative actions relate to corporate and governance matters associated with the former registry operating structure and do not reflect on the professional integrity or experience of Mr Panos Kirnidis, former CEO of Palau International Ship Registry.

The Government reiterated that the Palau Flag remains a respected and dependable flag of choice within the global maritime sector and that its standing, validity, and operations have not been affected.

“Our priority is to ensure continuity of service and the effective administration of the Palau Flag,” said Hayes Moses, Director of the Bureau of Marine Transportation. “All registry services continue to be delivered in accordance with established procedures and international standards.”

The Government of Palau will provide further updates through official channels as appropriate.

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In an iconic event held in an atmosphere of national pride and solidarity, the Propeller Club of Piraeus celebrated 90 years of continuous contribution to Greek shipping and the strengthening of ties between Greece and the United States. This year’s AMVER Awards 2025, under the symbolic motto “Hope at Sea,” highlighted the courage and exceptional seamanship of Greek and other nations” seafarers.

The event was honored by the presence of the new U.S. Ambassador, Kimberly Ann Guilfoyle, who recognized Greek shipping as a leading strategic partner for the implementation of energy projects in the Eastern Mediterranean and beyond. In his speech, the President of the Propeller Club, Mr. Costis Frangoulis, emphasized that for a century, the organization has served as a powerful link promoting maritime safety and supporting the U.S. Coast Guard's AMVER rescue system.

The participation of the Greek shipping community this year was impressive, with 193 companies and 1,836 vessels taking part, successfully saving 97 human lives through 12 special rescue operations.

In appreciation to her determination and contribution to deepening bilateral cooperation, the Propeller Club has named Ambassador Kimberly Ann Guilfoyle an Honorary President. For her part, the Ambassador praised the AMVER voluntary program for its 70 years of successful operation, underlining that Greek shipping companies remain its most dedicated and significant partners worldwide. The evening concluded with the presentation of the Fidelity and Special Rescue Awards, while the Ambassador blew out the ceremonial candle for the Club’s 90th anniversary, a gesture that sealed the close cooperation between the two nations. Part of the proceeds were donated to support the charitable work of HOPE Genesis.

AMVER System

Top 10 Participating Companies

Angelicoussis Group of Companies: 130 Ships

TMS Group of Companies: 109 Ships

Capital Ship Management Corporation: 89 Ships

Technomar Shipping Incrorporated: 81 Ships

Starbulk S.A.: 75 Ships

Laskaridis Shipping Company Limited: 70 Ships

Danaos Shipping Company Limited: 64 Ship

V. Ships Greece Limited: 63 Ships

Tsakos Group: 62 Ships

Anglo-Eastern Ship Management (Hellas) Limited: 49 Ships

Special Rescue Awards 2025

M/V "Dublin Eagle" - Starbulk S.A.

For the search and rescue operation of 2 persons near position 03o 17.8’ N, 100o 15.8’ E on 03 February 2025

M/V “Shanghai Eagle” – Starbulk S.A.

For the search and rescue operation of the sailing vessel Aqua Libra near position 29o 28.90’ S, 151o 37.10’ W on 21 February 2025

M/V “Kennadi” – Starbulk S.A.

For the search and rescue operation at position 41o 20’ N/ 009o 56’W on 12 June 2025

M/V “Mercurial Virgo” – Starbulk S.A.

For the search and rescue operation at position 20o 57.47’ S / 149o 43.63’ E on 19 November 2025

M/V “Marimyr A” – Mykonos Shipping

For the search and rescue operation of 2 persons in the Madagascar Channel on 11 March 2025

M/V “Luebeck” – Navilands Container Management Ltd.

For the search and rescue operation of 38 persons at position 34o 31.4’ N / 024o 00.6’ E on 01 May 2025

M/V “Yantian” - Navilands Container Management Ltd.

For the search and rescue operation of 2 persons at position 13o 00.3’ N / 098o 37.8’ W on 18 June 2025

M/V “Cosco Hellas” – V. Ships Greece Limited

For the search and rescue operation of 22 persons in the Pacific Ocean on 04 June 2025

M/V “Androusa” - V. Ships Limited

For the search and rescue operation of 20 persons at position 07o 11.8’ N / 107o 30.3’ E South China Sea on 08 August 2025

M/V “GLBS Hero” – Globus Shipmanagement Corp.

For the search and rescue operation of 2 persons near Cristobal Panama on 17 June 2025

M/V “Theseus” – Costamare Shipping CO S.A.

For the search and rescue operation of 7 persons in the South Atlantic Ocean on 22 June 2025

M/V “Mama Strength” – MPP Carriers S.A.

For the search and rescue operation of 2 persons 100 miles north of Bermuda on 12 November 2025

AMVER System Fidelity Awards 2016-2025

In continuous enrolment among Ship Management Companies based in Greece

Angelicoussis Group of Companies

Ranked First: 1027 Ships

TMS Group of Companies

Ranked Second: 655 Ships

Tsakos Group

Ranked Third: 624 Ships

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Reaffirming its role as the country’s leading technical and scientific body in the maritime sector

Τhe 19th Annual Conference of Marine Technology, organized by the Hellenic Institute of Marine Technology (H.I.M.T.), was completed on December 9–10, 2025 at the Eugenides Foundation. The Conference attracted more than 1,000 registrations, a milestone for the institution, as well as a record level of participation from scientific contributors, senior executives of the maritime industry, academics, researchers, students and young engineers. For the first time, parallel conference sessions were introduced, highlighting the breadth, maturity and scientific depth of the marine technology community. The Conference was officially commenced by the President of H.I.M.T., Dr. Nikolaos Liapis, who emphasized that this year’s event aim is not only to present the latest technological developments, but also to strengthen meaningful cooperation between shipping, industry, universities and research institutions. He also underlined that marine technology is evolving at a rapid pace and that H.I.M.T. must remain at the forefront as a reliable and technically competent interlocutor at both national and international level. During the opening ceremony, official addresses were delivered by the General Secretary for Research and Innovation, Dr. Tasos Gaitanis, the President of the Hellenic Chamber of Shipping, Mr. George Alexandratos, the Rear Admiral Stavros Karlatiras (HN), the President of the Piraeus Chamber of Commerce and Industry, Mr. Vassilis Korkidis, the Maritime Affairs Advisor of the Hellenic Shortsea Shipowners Association, Rear Admiral (r.t.) Alexandros Lagouros, the Rector of the University of the Aegean, Professor Dimitrios Papageorgiou, as well as representatives of maritime and academic institutions.Over the course of the two-day Conference, numerous technical and scientific reports were presented and discussed, covering the full spectrum of marine technology, including decarbonization and alternative fuels, digitalization and artificial intelligence, cybersecurity, propulsion systems, energy efficiency, ship and equipment safety, as well as contemporary challenges in fleet management and operations.

A highlight of the programme was the roundtable discussion on Efficient Ship Management, featuring senior executives from major shipping companies. Particular emphasis was also placed on the panel discussions, which examined issues such as the future of the shipbuilding industry within the framework of European defense cooperation, smart solutions for operational excellence, and the efficient management of ships in an increasingly complex regulatory and geopolitical environment. A  particularly notable aspect of the Conference was the strong participation of students and young engineers, reaffirming the role of H.I.M.T. as a dynamic hub for knowledge, education and professional development for the next generation of marine technology professionals. The two-day event came to a closure with the Annual Gala Dinner of H.I.M.T., held at the Piraeus Marine Club and dedicated to the sponsors and supporters of the event. In his address, Dr. Nikolaos Liapis presented a comprehensive review of the year’s activities, highlighting the Institute’s dynamic progress, outward-looking approach, strategic partnerships and vision for the future. Special reference was made to the historical course of H.I.M.T. from its foundation in 1972 to the present day, as well as to the importance of collective effort and continuity. The 19th Annual Conference of Marine Technology once again confirmed that H.I.M.T. is an established institution with a role of great significance in shaping the future of Greek and international shipping, laying the foundations for even more ambitious initiatives in the years ahead.

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Mikki Koskinen from Finland has been elected the next European Shipowners | ECSA President, starting on 1 January 2026 for a two-year term, with Nikolas Veniamis from Greece, joining as the new Vice-President. Mikki succeeds Karin Orsel, who has held the position since January 2024.

Commenting on his election, Mikki Koskinen, incoming ES|ECSA President, said: “Over the past six decades, European Shipowners | ECSA has evolved into an indispensable strategic partner to the European institutions, consistently championing policies that strengthen the competitiveness of European shipping while driving sustainability, innovation, and the industry’s energy transition. Today’s global challenges have made the strategic role of European shipping more important than ever. European shipping is a cornerstone of Europe’s food, energy and supply chain security".

"Shipping is a success story for our continent making Europe a global leader in the international supply chains. As we look ahead, the maritime sector faces its most profound transformation yet. The energy transition of shipping, geopolitical uncertainties, and rising protectionism demand bold leadership and collective action. I am confident that through our upcoming work, ES|ECSA will be defined by the same vision and determination. We must always aim for a unified and strong voice. We need all hands on deck. Because we shouldn’t forget that we cannot have a secure Europe without a competitive shipping”, Mikki Koskinen added.

Nikolas Veniamis, newly elected Vice-President of ES|ECSA, highlighted: “European Shipowners | ECSA represents a sector which is critical to Europe’s prosperity. With 76% of the EU’s external trade being carried by sea, European shipping is a strategic asset for Europe’s security and prosperity. Shipping is a global industry. It is now more important than ever to ensure European shipping remains globally competitive. To achieve this, it is essential to continue the constructive dialogue and cooperation with EU policymakers and stakeholders. In my new position as Vice-President, I look forward to working with Mikki Koskinen, ES|ECSA members and the team as we strive to leverage the potential of European shipping for Europe”. 

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Lloyd’s Register (LR) convened the latest meeting of its Hellenic Technical Committee (HTC) in Athens on 27 November, bringing together around 60 senior technical leaders and stakeholders from across the Greek shipping sector. The HTC continues to serve as an important forum dedicated to open technical dialogue and industry collaboration.

The meeting also marked a significant change in leadership. After 22 years of distinguished service as Chair, Vassileios Papageorgiou, Vice Chairman of the Tsakos Group, handed over the role to Nikolaos Vaporis, Chief Technical Officer of Capital Ship Management Corp. Papageorgiou’s leadership has been central to the Committee’s influence and its role in shaping LR’s engagement with Greek shipowners.

The HTC will continue to provide an essential platform for clients to exchange views on safety, innovation, digitalisation and compliance, and to contribute directly to the development of LR’s Rules and wider industry standards.

Elina Papageorgiou, Vice President Greece and Cyprus, Lloyd’s Register, said: “The HTC is a valuable forum for clients and stakeholders who value regular engagement and collaborative discussion on the technical challenges shaping their fleets and future investment decisions.

“We are deeply grateful to Vassileios Papageorgiou for his exceptional leadership and dedication over more than two decades, which have been instrumental in advancing the Committee’s impact. We also warmly welcome Nikolaos Vaporis as the new Chair and look forward to working with him as HTC continues to provide a trusted forum for technical insight, innovation, and collaboration that shapes future developments.”

Nikolaos Vaporis said: “Lloyds Register’s HTC has always played an important part in maintaining a constructive exchange between LR and the Greek maritime community. As the industry moves through a period of major change, this dialogue is essential. I look forward to supporting the Committee as it enters its next chapter.”

The event concluded with a reception that allowed further discussion between LR’s technical specialists and representatives from leading Greek shipping companies.

(l-r) Sotirios Skoupas, Lead Client Relationship Manager, Greece, Lloyd's Register; Nikolaos Vaporis, Chief Technical Officer of Capital Ship Management Corp; Elina Papageorgiou, Vice President Greece and Cyprus, Lloyd’s Register; and Vassileios Papageorgiou, Vice Chairman of the Tsakos Group.

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