Collaboration is key across maritime, trade and logistics if the sectors are to achieve their goals on equality, gender diversity and decarbonisation, according to speakers at the 2025 WISTA AGM and Conference, held in Barcelona between 22-24 October.

The event, the largest staged by the association in its more than 50-year history, brought together over 400 maritime professionals and leaders from around the world.

In her keynote speech, WISTA International President, Elpi Petraki stressed that collective commitment had been the source of WISTA’s strength in moving the entire maritime industry forward on gender equality.
“Collaboration has always been shipping’s greatest strength. It unites people from all corners of the world, across cultures and disciplines,” she said. “When we bring diverse perspectives together, we don’t just solve problems — we create new possibilities. That is where innovation begins.”

Drawing inspiration from this year’s Nobel laureates in Economic Sciences, who showed that progress often comes through creative destruction, Petraki applied the same principle to the current industry situation, surmising that what might seem disruptive at first can in fact lead to renewal and long-term growth.
Welcoming delegates to the gathering supported by the Port of Barcelona, as well as national and regional transport administrations, Jose Alberto Carbonell, President, Port of Barcelona pledged the Port’s commitment to gender equality and innovation. He urged the industry to respond to its challenges with purpose.
“The sector must follow what WISTA has done and continues to do; challenge the status quo, innovate, and even in the most difficult context, move forward with determination.”

The sentiment was shared by Benito Núñez Quintanilla, Secretary of State of Maritime and Air Transport, who highlighted the Ministry’s support for WISTA International and the nation’s strong belief in gender balance and equality - not only as a general principle, but as essential to the sector’s success.

Núñez Quintanilla took the opportunity to reaffirm the Spanish Government’s commitment to fully decarbonising the maritime industry as part of the international trading system. Manel Nadal, Secretary of Mobility and Infrastructures of the Government of Catalonia, highlighted the importance of the maritime sector in Catalonia, as a centre for logistics and ports activities that sustains over 24,000 companies.

Rosana Velasco, President of WISTA Spain, emphasised the significance of late 2025 as a critical moment for leaders in the energy, maritime, and trade sectors to come together to exchange ideas, inspire action, and shape the industry’s future.

The importance of global collaboration was further reflected in the event theme - Powering the Future of Shipping & Trade: Global Energy in Challenging Times – with the conference agenda delivering a series of thought-provoking discussions on the complexities of international trade, logistics and shipping today.

Programme highlights included a panel discussion on decarbonisation where the Secretary General of the International Maritime Organization, Arsenio Dominguez, summarised the outcome of the latest MEPC extraordinary session and next steps. Other sessions also provided insights into the impact of shore power and just-in-time port calls on sustainability and how the industry is adapting to geopolitical tensions, new trade barriers, and the digital transformation of supply chains.

An exclusive fireside chat between Dominguez and Dorothea Ioannou, CEO, The American P&I Club, offered a deeply engaging conversation that focused on policy, regulations and human factors in global shipping. Discussions covered a wide array of topics, including decarbonisation and legal frameworks, the treatment and criminalisation of seafarers, safety, human rights and crew welfare, women in maritime, the Biodiversity Beyond National Jurisdiction (BBNJ) Treaty, and the role of the IMO.

In the days ahead of the conference, WISTA International hosted its President’s roundtable and Annual General Meeting. This year’s event saw Mariella Collazzi appointed Treasurer of the WISTA International Executive Committee, with Connie Roozen stepping down after seven years of dedicated service. During the AGM, three new National WISTA Associations (NWAs) were announced – Croatia, Kenya and Malta – in addition to the relaunch of WISTA Japan.

In the spirit of change, a new brand identity was also unveiled, with the new WISTA International logo representing the global reach, unity, and forward movement for women in the shipping, trading, and logistics sectors.

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GIT Coatings (Graphite Innovation & Technologies Inc.), a global leader in biocide-free, graphene-based marine coatings, proudly announced an additional $5M in EDC funding during the Grand Opening of their new Global Headquarters and Flagship Operations at 409 Wilkinson Avenue in Dartmouth, Nova Scotia, Canada.

The opening event marked a major milestone in GIT Coatings’ mission to redefine marine sustainability through advanced materials innovation. The new building includes 10 times the square footage of their previous headquarters and manufacturing facility allowing the company to scale manufacturing, R&D, quality control, and global support functions under one carbon-neutral roof.

During the event, an additional scaleup fund from Export Development Canada (EDC) was also announced in GIT’s production area which saw 100+ attendees including local MPs, MLAs, investors and stakeholders. EDC will contribute up to $5m in financial support to further expand GIT’s global market presence and export capabilities.

With GIT Coatings now applied to over 500 vessels across 20+ countries, the graphene-based technologies are enabling shipowners to reduce fuel consumption, cut CO2 emissions, and eliminate toxic copper and silicon oil release from oceans. Collectively, these deployments have prevented nearly 250,000 tonnes of CO2 and copper pollution to date. A testament to Canadian innovation driving global environmental impact.

“Today is a proud milestone for our entire team and for Canada’s ocean and clean-tech communities” said Mo AlGermozi, CEO of GIT Coatings. “This world-class site lets us manufacture at scale, accelerate R&D, and serve customers in every major shipping market. All from right here in Dartmouth. With 95% of our revenue coming from exports, we’re proving that Canadian clean technology can compete globally while creating high-quality jobs at home.”

The company previously utilized a space at 1 Research Drive in Dartmouth, Canada, where economic development organization, Invest Nova Scotia, houses a production incubation centre for local companies.

Minister of Environment and Climate Change, the Honurable Timothy Halman, Government of Nova Scotia

stated the following: “We don’t follow — we lead. The innovation you’re showing the world is a testament to that. Innovation requires an innovative government and innovative regulators. Change doesn’t come from government; it comes from the private sector — from the innovators.

The Atlantic Canada Opportunities Agency (ACOA) also previously supported GIT’s expansion with a financial contribution, helping fund the building upgrades and production scale-up at the new headquarters and manufacturing site.

“Our government is proud to support GIT Coatings as they expand right here in Dartmouth,” said Braedon Clark, Member of Parliament for Sackville—Bedford—Preston, on behalf of the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister Responsible for the Atlantic Canada Opportunities Agency. “This new carbon-neutral facility is a powerful example of how Atlantic Canadian innovation is creating good jobs while protecting our oceans. GIT Coatings is proof that local leadership can drive global impact. We’re excited to see what’s next for this homegrown success story.”

The Grand Opening of GIT Coatings’ new Global Headquarters & Flagship Operations was not just a celebration of a facility, but of a vision taking shape, one that positions Atlantic Canada as a hub for clean technology and maritime innovation. As the global shipping industry accelerates its transition toward decarbonization, GIT Coatings stands ready to deliver the solutions that make it possible. From Dartmouth to the world’s busiest trade routes, this new chapter ensures Canada remains at the forefront of sustainable ocean technologies for generations to come.

View the full event video here: https://youtu.be/_-1FEfF33IQ

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IMO’s Marine Environment Protection Committee votes to adjourn discussions on the Net-Zero Framework for one year.

The extraordinary session will be reconvened in 12 months’ time. In the interim, Member States will continue to work towards consensus on the IMO Net Zero Framework.

The International Maritime Organization (IMO) has agreed to adjourn the extraordinary session of the Marine Environment Protection Committee (MEPC), which was convened this week (14 to 17 October 2025) to consider the adoption of draft amendments to MARPOL Annex VI, including the IMO Net-Zero Framework.

The extraordinary session will be reconvened in 12 months’ time. In the interim, Member States will continue to work towards consensus on the IMO Net Zero Framework.

The Intersessional Working Group on the Reduction on Greenhouse Gas Emissions from Ships, scheduled to meet 20 to 24 October 2025, will go ahead to continue work on the guidelines for implementing the Net Zero Framework.

The IMO Net-Zero Framework was approved at the MEPC 83 session in April 2025, as a new Chapter 5 of the Draft Revised Annex VI of the International Convention for the Prevention of Pollution from Ships (MARPOL). It comprises a set of international regulations aimed at reducing greenhouse gas (GHG) emissions from ships, in line with IMO's 2023 Strategy for Reduction of GHG Emissions from Ships. It includes two key elements: a global fuel standard and global GHG emissions pricing mechanism.

Statement of the President of the Union of Greek Shipowners Melina Travlos

The decision to delay the process at the IMO presents a new opportunity to shape a sustainable and effective international framework that will guide global shipping safely and realistically through the green transition.

The lack of consensus highlighted deep rifts over the proposed Net-Zero Framework regulation, where the positions advanced by the shipping industry were not sufficiently taken into account.

Greek shipping remains firmly committed to the shared goal of decarbonisation and is ready to lead constructively, with evidence-based and unifying proposals, in a global effort to shape a fair, practical and enforceable clean plan, where all stakeholders assume their share of responsibility on the collective path toward the green transition.

Greek Shipping Co-operation Committee statement in relation to IMO MEPC Extraordinary Session outcome

Last Friday’s events at the IMO need not presage a delay in the creation of a coherent decarbonisation policy.

They simply provide an opportunity to involve those at the epicentre of the maritime world, the shipping community.

So far, they have only had side seats at this crucial time. We must include them closely to create a workable policy which selects all available low carbon and zero carbon fuels and all technologies on the way towards 2050. Furthermore, fuels that are to be mandated, explicitly or implicitly, to achieve decarbonisation must be both available and safe.

The non availability of many of the transitional fuels does not help the shipping industry move forward.

There must be a realisation that different sectors of the industry, such as tramp and liner shipping, have different paths to achieve their goals. The regulations must reflect this.

There needs to be certainty and accountability in respect of funds that are to be collected. Furthermore, if there were actual funds specifically ring fenced for the necessary maritime research and development to take place, it might be possible to achieve real solutions before it is too late.

Global shipping companies, which are represented in all major sectors of the shipping industry and which will in fact be the ones implementing the decarbonisation policy, must be closely consulted if a workable pathway to net zero is to be achieved.

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Navigating Volatility and Digital Transformation

For over 30 years, Marine Money has successfully brought together shipowners and financiers. Its 27th annual Greek Ship Finance Forum continued this tradition, featuring prominent and influential maritime experts from around the world.

Mia Jensen, Director Greece & Events Organiser for Marine Money International, opened the forum by setting the stage. She described the current shipping environment as being heavily influenced by geopolitical uncertainty and a volatile freight market.

The first session, "Navigating global trade at the cusp of a new era," was led by Apostolos Zampelas, Partner and Leader of the Shipping Practice at McKinsey & Company. 

Mr. Zampelas presented the following remarks:

1. Global trade remains at almost peak historical levels, with no region being self-sufficient.
2. Trade is travelling further, but countries are trading more with closer political allies.
3. US tariffs are at their highest level in nearly a century leading to trade rearrangement and production ramp-up in different geographies.
4. Fossil fuels remain resilient until 2050, with natural gas gaining share, while alternative fuels see adoption post 2040.

In this challenging environment he advised he advised shipowners to embed global trade scenarios in business planning, Define fleet composition and deployment, Create strategic partnerships, Develop capabilities to decision making (incl. AI). 

Market Turmoil, Geopolitics, and Finance

A subsequent panel, moderated by Chris Vartzis, Partner and Head of Greece Maritime Finance at Stephenson Harwood, addressed the peak of market volatility and political turmoil in 2025. Mr. Vartzis himself noted that 2025 has been a year of market volatility and geopolitical disruptions.

Key takeaways from the panel included:

Costas Delaportas, President & CEO of DryDel Shipping Inc., commented that new US port tariffs will cause transshipment and a shortage of tonnage. He advocated for a "wait and see" strategy to observe how this will evolve. He also predicted that Chinese leasing facilities will be replaced by other financing methods and expressed optimism for continued improvements in engine optimization and efficiency in the dry bulk sector.

Jerry Kalogiratos, CEO of Clean Energy Carriers Corp., agreed that geopolitics, especially U.S. government sanctions, affect various shipping segments. He highlighted the reduction of ships crossing the Suez Canal as a major disruption to trade flows. He added that the USTR policy will influence how shipowners raise capital and, while M&A and governance issues are present, there is still room for new companies.

Alex Hatzipateras, Chief Operating Officer of Dorian LPG Ltd., outlined that adaptability is crucial, as shipowners have always been resilient to market changes. He agreed that consolidation and alliances will be significant in the future, yet opportunities for new players remain.

George J. Souravlas, CEO of Load Line Marine SA, pointed out that disruptions often create more ton-miles, and shipping must seize the opportunity to deliver more efficient and sustainable services. He also viewed Chinese leasing as an issue due to the port tariffs. Regarding alternative fuels, he cautioned that the necessary technology and infrastructure are not yet in place for their widespread adoption.

The consensus among all speakers was that the industry must live with volatility, and that commercial flexibility and diversification are essential for navigating the shipping cycles.

Investments and Capital Markets

David Herman, Projects/Finance at SSY, moderated the next discussion, which focused on investments and Mergers & Acquisitions (M&A).

Constantine Nanopoulos, Deputy CFO of Star Bulk Carriers Corp., explained that the company focuses on transparency to create an attractive equity for future investors.

Hugh Eden, Managing Director, Maritime Investment Banking at Jefferies LLC, provided an update on the latest developments in the capital markets.

Evangelos Chatzis, Chief Financial Officer of Danaos Corporation, highlighted Danaos's solid balance sheet and its recent $500 million bond offering, which proved the company's clear vision and easy access to capital markets. He stressed that a competitive capital structure requires avoiding reliance on a single source of capital.

Alexis Stephanou, Chief Financial Officer of Goldenport Group of Companies, noted that his company strategically creates partnerships with financial and strategic investors to expand its business into new markets. He advised small and medium-sized owners to consider outsourcing the procurement of spares and other operations to help manage the demands of strict regulations.

Captain of Industry: Nikolas D. Pateras

The "Captain of Industry" session featured an interview with Nikolas D. Pateras, Chairman of Contships Management Inc., conducted by Kevin Oates, Head of Asia, Marine Money International.

Mr. Pateras represents the fifth generation and 150 years of the Pateras family in shipping, with 40 years of personal industry experience, having owned and operated over 150 vessels.

Chairman of Contships, which operates 40 container feeder vessels, he shared lessons learned, the appeal of smaller container vessels, finance alternatives, a recent Nordic bond in Oslo, and the future of Contships.

Mr. Pateras recounted his start in the industry, which began with working close to his father’s office at a young age, followed by polytechnic studies in London and service in the Hellenic Navy. He formally joined the family business during the depressed shipping market of 1984, when only two of the company’s Multi-Purpose vessels (MPP) were trading and the rest of the fleet was idle. Recognizing an opportunity, he borrowed a quite limited amount of money from his father to acquire 10 ships with the financing of a Spanish bank at attractive prices, which he later sold at higher prices when the market recovered. In 1993, he established Pacific and Atlantic, acquiring different types of ships through various market conditions. Following the market recovery in 2002-2003, he liquidated the majority of his fleet just before the market collapse in 2008. He then entered the feeder sector in 2015, acquiring 60 vessels from distressed German KGs.

More recently, Contships raised $175 million bond from the Nordic market for fleet renewal, capitalizing on the continuing good performance of the feeder ship market. CONTSHIPS is now a leader in this delicate and demanding trade, carrying 1 million TEUs per year. The company has also designed a new vessel 1.300 teu, for the construction of a series of 20 new feeder ships. Mr. Pateras also mentioned his religious roots and support for the restoration of monasteries and churches, particularly the renovation of St. Nicholas church in Athens and sites on Oinousae island. His children are also involved in the company.

U.S. Maritime Policy and Geopolitical Risks

Brian Maloney, Partner at Seward & Kissel LLP, and RADM John P. Nadeau, USCG (ret.), of Nadeau Maritime/MTI Network, provided an update on U.S. Maritime Policy, covering:

• • Sanctions, Tariffs, and Port Fees.
• • U.S. Maritime Enforcement & Policy Outlook for Key Risks.
• • Strategic Implications for Shipowners, Chinese ships, and USA ports.

New Investments and Market Opportunities

A panel moderated by Eva Tzima, Head of Research & Valuations at Cass Technava Maritime S.A., discussed market opportunities for new investments and future market expectations. Speakers included Nikos Gkezepis, CFO, Neptune Lines Shipping and Managing Enterprises S.A., Yannis Kourkoulis, CEO, ARMI Ship Management, Nicholas Petrakakos, Partner & Managing Director, Maritime & Offshore Investment Banking, Alantra, Pantelis Pittas, Head of Drybulk Chartering, Eurobulk Ltd. and Wilhelm Magelssen, Partner & Fund Manager, NRO Maritime Asset Management.

The panelists agreed that owners remain financially healthy due to accumulated cash, which has kept vessel values high. They suggested that second-hand and newbuild vessel values are likely to see a correction to bring the market back to equilibrium.

Specific comments included:

Mr. Pittas expressed satisfaction with his company's new building investments, noting that the project is gaining value.

Mr. Gkezepis was confident that the RoRo carriers’ market will remain healthy but cautioned that new projects require prudence due to rising asset values.

Mr. Magelssen suggested staying away from the market for a period if tonnage oversupply is expected to continue.

Mr. Kourkoulis referred to the implementation of the Hong Kong Convention, which will cause a bottleneck effect regarding the supply of ships destined for demolition.

Mr. Petrakakos commented on ship finance and capital market trends, expressing confidence that the financial market will continue to support well-organized and high-performing shipping companies.

Afternoon Sessions

The afternoon commenced with lunch co-hosted by TEN Limited.

The subsequent sessions covered critical topics for the future of shipping:

-AI-Driven Decisions: Operational Efficiency and Financial Impact.

This session explored how artificial intelligence (AI) is transforming decision-making across the shipping value chain, covering applications from route optimization and fuel efficiency to predictive maintenance, port logistics, and risk management. The discussion highlighted how AI enables faster, data-driven decisions that reduce costs, improve safety, and enhance sustainability, using real-world case studies.

Speakers were Kimon Drakopoulos, Associate Professor Data Sciences and Operations (USC), Executive Advisor for AI and Innovation, PwC Greece, Konstantinos Kyriakopoulos, CEO & CO-Founder, DeepSea Technologies, Stella Saridou, VP Data Warehouse, The Signal Group and Moderator Alkistis Krimpeni, Director, Head of Strategic Analytics & Operations, PwC Greece.

Chinese Leasing and Asian Finance session.

Moderated by Anders H. Schau, Managing Director & Partner at Northcape Capital AS, this panel addressed the current status and future of Asian finance for Greek owners. The core questions were: Is Chinese leasing and Asian finance still a top target for Greek owners? and Are the planned USTR penalties on Chinese flagged, owned, and built ships impacting the attractiveness of Chinese lease finance?

Speakers were Christoforos Bisbikos, Partner, Watson Farley & Williams, Channing Wang, Partner, Head of European Market, Ebridge Capital, Spiros Vellas, Director & Head of Corporate Finance, Eurofin Group

Scrapping: The Only Bear Market in Shipping.

A presentation on the state of the scrapping market and its future was performed by Edward Finley-Richardson, a shipping investor.

Finance for Greek Shipping in 2025 and Beyond

Financiers discussed the best sources and structures for the current market, addressing whether traditional bank finance is back in favor, if Asian finance is still in high demand, the increasing role of non-bank finance, and whether sustainable finance is now the norm in terms of conditions.

Panelists were Vassilios Maroulis, Managing Director, Global Head of Shipping, Citi, Harris Antoniou, Founder & Managing Director, Neptune Maritime Leasing, Nick Daskalakis, Managing Director, Alpha Shipping Advisors Ltd., Hugues Calmet, Head of DNB Athens Representative Office, DNB Bank, Theofanis Moustakatos, Head of Shipping, National Bank of Greece and Moderator Alexia Hatzimichalis, Athens Office Head and Partner, Assets & Structured Finance Group, Watson Farley & Williams.

The speakers agreed that traditional bank finance will always be there and especially Greek banks are close to the decision makers that’s why don’t exit shipping during the financial crisis of 2010-20 and supported their clients restructuring their debt portfolio. Greek banks have good teams with great shipping experience and highly skilled executives.

Charting a Smart Course Forward for Greek Shipping.

The final panel, moderated by Christos Sigalas, Associate Professors, Department of Maritime Transport and Supply Chain at Deree - The American College of Greece, discussed the future strategy for Greek shipping.

Panelists were Stavros Gyftakis, Chief Financial Officer, Seanergy Maritime Holdings Corp., Symeon Pariaros, Chief Administrative Officer, Euroseas Ltd., EuroDry Ltd. and EuroHoldings Ltd., Peter Borup, Chief Executive Officer, Quadrise PLC and Emma Collier, Partner, Further & Further.

The speakers agreed that Greek shipping has performed extremely well, with bigger companies expanding through new order deliveries and smaller companies growing or upgrading their fleet quality and age. However, they recognized major macro challenges: geopolitics, softer freight markets, regulation, and decarbonization. All agreed that digitization is a game changer.

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TEN, the U.S.-listed shipping giant, recently held its annual strategy meeting, bringing together industry leaders, analysts, and government officials to discuss critical issues shaping the tanker market and the future of maritime shipping. The event featured a series of insightful presentations, culminating in a memorable evening with stunning views of the Saronic Gulf.

The meeting was graced by the presence of several distinguished guests, including the founder of Tsakos Group Capt. Panagiotis N. Tsakos, the Chief of the Hellenic National Defence General Staff, Gen. Dimitris Choupis, the Commandant of the Hellenic Coast Guard, Vice Admiral Tryfon Kontizas, H.E. Julie Lymberopoulos Karnakis, Ambassador and General Consul of Panama in Greece and H.E. Ju-seong LIM, Ambassador of the Republic of Korea to the Hellenic Republic.

Investing in People and a Generational Call to Action

Dr. Nikolas Tsakos, Founder and CEO of TEN, a prominent figure in the shipping world, opened the meeting by inviting his son, Panagiotis N. Tsakos, to address the challenges facing the next generation of seafarers. Panagiotis emphasized the growing shortage of trained officers and competent seafarers, a critical concern given the expanding global fleet. He also highlighted the increasing isolation and anxiety experienced by seafarers in today's demanding environment, a sentiment echoed by many in the industry.

In a powerful statement underscoring the company's commitment to human capital, Panagiotis referenced key initiatives like the 2005 Maria’s House, 2018 Tsakos Enhanced Education Nautical Studies (TEENS), and the establishment of a merchant marine academy in 2024. These programs, he noted, demonstrate that investing in people is paramount, as developing competent maritime professionals takes significantly longer than building a vessel.

Economic Outlook

Capital market expert Professor Angelos Kallipolitis provided his perspectives on global economic growth, focusing on inflation risks and the energy outlook. He remarked on the complexities of P/E development in the shipping industry, concluding that not everything can be captured by a simple formula.

Tanker Market Trends and Future of Shipping Services

Anita Bartels, Head of Tankers and Offshore at IFCHOR GALBRAITHS, delivered a comprehensive presentation on tanker market trends. She highlighted a market characterized by strong spikes and elevated activity in recent years, alongside a rapidly aging fleet and slowing recycling. Bartels noted that output growth supports crude tankers, while a continuing shift in demand bolsters product tankers. She cautioned about potential ongoing volatility, the threat of trade war escalation to global economic growth, and the IMF's recent cut to global growth forecasts.

René Kofod-Olsen, V. Group CEO, then delved into the "Shipping services of the future." He presented V. Group's comprehensive suite of digitally enabled, mission-critical services, ranging from technical to crew management. Olsen underscored the need for scale in an increasingly complex world, pointing to V. Group's global network of 50 offices and a crew pool of 44,000 seafarers. He also addressed the significant shortage of officers, estimated to reach 80,000 by 2030, and the unique pressure on the tanker crew pool. V. Group has launched a dedicated program to empower women in seafaring and maritime leadership, recognizing that crewing complexities will increasingly drive outsourcing in the shipping sector.

AI's Role in Maritime Navigation

The final speaker, Mr. Arabatzis, explored the crucial role of Artificial Intelligence in maritime navigation. He presented a vessel routing model designed to optimize routes for efficiency and enhance the safety of crew members through data-driven insights.

The event concluded with a delightful evening reception, where guests enjoyed the magnificent sunset over the Saronic Gulf, a fitting end to a day of strategic discussions and forward-thinking insights.

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The 98th International Convention of the International Propeller Club, hosted in Lyon, France, from 13 to 15 October 2025, was concluded, gathering wide participation from members and representatives across the global maritime community.

The Convention closed with the appointment of the new Board of Governors — marking, for the first time in the organization’s 98-year history, the election of a non-American as President.

That milestone belongs to Costis Frangoulis, Founder & CEO of Franman and current President of the Propeller Club, Port of Piraeus.

Frangoulis has been closely tied to the growth of the Piraeus chapter. A lifetime member since 2000, a Governor since 2017, and its 37th President since 2019, he is now serving his third and final term, which will make him the longest-serving President in the chapter’s history. In 2024, he was named International Propeller Member of the Year.

Under his leadership, Piraeus quintupled its membership, surpassing 1,000 members (1,100 today) — a milestone unmatched across the global network — and significantly increased its financial resources, which allowed it to quadruple its charitable activities. He is also a member of the Propeller Club, Port of New York, and since 2021 has served on the International Board, holding positions as Third, Second, and First Vice President.

Frangoulis’ election as President of the International Propeller Club is both a personal achievement and a national distinction. The Club is one of the oldest institutions in global shipping, with a long record of advancing maritime affairs and international cooperation. Today, it stands as the world’s largest networking association in the maritime industry.

This remarkable achievement was further highlighted by the recognition of the Propeller Club, Port of Piraeus, as “Club of the Year,” standing out among 82 Ports worldwide. This marks the second time in five years that the Greek chapter has been named Propeller Club of the Year, reaffirming its consistency, engagement, and international prominence.

Three more members of Propeller Club of Piraeus were also honored and recognized during the Convention:

• • Dorothea Ioannou, elected First Vice President of the International Propeller Club,
• • Christos Timagenis, appointed Director Ex Officio to the International Board,
• • Akis Tsirigakis, re-elected Regional Vice President for Southern Europe & Africa,

While Danae Bezantakou continues her term as Director at Large, which began in 2024 and runs through 2027.

Commenting on his election, Costis Frangoulis stated: “I feel deeply honored to assume the presidency of an international organization with the history and legacy of the International Propeller Club. I step into this role with vision, responsibility, and commitment, determined to modernize the Club, support its growth, enhance its mission, and strengthen its international direction and collaboration across our network.

First of all, I would like to sincerely thank outgoing President, Maria Conatser, for her leadership and the excellent collaboration during her term, and our Executive Vice President, Joel Whitehead, for his continuous commitment and contribution. My congratulations go to Dorothea Ioannou on her election as First Vice President, to Regional Vice President Akis Tsirigakis (re-elected), to Christos Timagenis, Secretary General of the Propeller Club, Port of Piraeus, on his appointment as Director Ex Officio to the International Board, and of course to the Propeller Club, Port of Piraeus, for being named Club of the Year. These are especially meaningful distinctions for our historic chapter.”

Convention Awards:

• • Chris Carr — International Member of the Year
• • Kathy Metcalf — Maritime Person of the Year
• • Propeller Club, Port of Piraeus — Club of the Year
• • Sean Duffy — Lifetime Achievement Award

The 99th International Propeller Convention will take place on 22–24 September 2026 in the United States, hosted by the Propeller Club, Port of San Diego.

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Aligned with the company’s commitment to sustainable, high-performance logistics solutions, this step strengthens our mission to connect key global markets, support customer needs, and bring our proven short sea expertise to one of the world’s most dynamic automotive and logistics regions.

The new service will connect Zárate, Argentina, with Paranaguá and Santos in Brazil, establishing a reliable and efficient connection between the region’s main vehicle logistics hubs. Customers in Latin America will now benefit from Neptune Lines’ hallmark qualities — operational excellence, flexibility, and tailor-made solutions — that have defined its leadership in Europe for decades.

Operating through a modern PCTC vessel, the service will transport cars, vans, trucks, as well as high & heavy cargo and roll trailers, all under Neptune Lines’ strong focus on quality, reliability, and sustainability.

This launch marks a significant step in Neptune Lines’ long-term strategy to expand its global network, support international OEMs and logistics partners, and reinforce its role as a trusted provider of sustainable short sea transport solutions.

Ms. Melina Travlos, Chair of the Board of Neptune Group of Companies, commented: “By building on the strength, vision, and leadership of the Neptune Group, Neptune Lines’ entry into Latin America is a milestone in our global growth strategy. Guided by reliability, sustainability, and customer focus, we are ready to offer additional port calls and tailor-made solutions — bringing to Latin America the trusted standards and proven experience of our European network.”

Service details:

The voyage will be performed by M/V Neptune Hellas, calling at Zárate, Paranaguá, and Santos. The service will initially operate with one monthly sailing, with flexibility to increase frequency and add additional ports and capacity in line with market demand.

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PROJECT CONNECT and its member shipping companies steadfastly continue for the 8th consecutive year, the pioneering maritime cultural educational program “Adopt a Ship”, a unique teaching tool that has captured the hearts of students and teachers across Greece and beyond.

Approved by the Ministry of Education (since 2018), under the auspices of the Ministry of Shipping and the General Secretariat for Demographic and Family Policy and Gender Equality, the program aims to cultivate knowledge, curiosity, and love for shipping among children and teens, the future of our countries.

A Living Bridge Between Land and Sea

Through the adoption of a vessel by a school class (Elementary, Junior High, or Vocational High School), students become “sailors” and embark on a virtual journey with the ship via regular e-mail communication with the captain.

Through the captain’s letters, students learn about life at sea, discover new places, cultures, ports, and trade activities.  The letters enhance learning in History, Geography, English, Mathematics, Technology, Music, Arts, and more. The classroom becomes a space where knowledge and creativity sail hand in hand!

“Adopt a Ship”, achieves 11 of the 17 Sustainable Development Goals set by the United Nations in the 2030 agenda (read here).

Inspiring Students and Teachers

The impact has been remarkable:

• 20,000 studentsfrom 268 schools in Greece and the United States have already participated.
• Many students are eager to read the captain’s letters and are inspired to pursue careers in shipping – some even dream of becoming captains themselves!
• New role models for children and teens are the Captains and Engineers, the crew – they become heroes of the classroom.
• Teachers describe the program as “a real, living way to bring shipping into the classroom with enthusiasm, creativity, and learning combined” and “opening windows into shipping”.

Seafarers, on the other hand, feel proud to contribute to children’s education, bridging the gap between ship and shore and fulfilling their need to give back to society.  A society they serve being essential workers 4 to 6 months at a time away from their own families to transport our goods!

Join the Voyage and enroll your class too!

The dedicated team at PROJECT CONNECT provides all the necessary educational materials and continuously improves the program every year based on participant feedback, ensuring a meaningful and impactful experience for everyone involved.

For more information on how your school can participate and bring the world of shipping into your classroom, contact us:

Tel:211-1195693, 6948282298 (Efi or Elisavet)

This email address is being protected from spambots. You need JavaScript enabled to view it.
www.project-connect.gr

Discover the fascinating world of shipping – because knowledge travels best… by sea!

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Celebrating the drivers of a safer, more sustainable future for shipping

In a prestigious ceremony held on the evening before the 16th SAFETY4SEA Athens Forum, the maritime industry came together to celebrate safety — as a value, a commitment, and a guiding principle. The 2025 SAFETY4SEA Awards were presented on September 30th at the Yacht Club of Greece, recognizing the industry’s outstanding practices in advancing maritime safety.

The awards returned to a meaningful venue: it was at the Yacht Club of Greece that, ten years ago, the very first SAFETY4SEA Awards were presented, marking the start of a tradition that has grown stronger with each passing year.

This year’s awards honored organizations excelling in Sustainability, Initiative, Technology, Training, Connectivity, and Cyber Security. Distinctions were also presented to Tanker and Dry Bulk Operators that have raised the bar in safety performance, along with the prestigious Leadership Award, which celebrated an individual whose career milestones have left a lasting impact on the maritime industry.

“The SAFETY4SEA Awards were established to recognize and celebrate organizations that have demonstrated outstanding commitment to fostering safer and more sustainable shipping. They serve as a reminder that safety always comes first — and it is up to each of us, as maritime professionals, to continue driving positive change,” said Apo Belokas, Managing Editor, SAFETY4SEA.

With a vibrant atmosphere and inspiring speeches, the event highlighted the industry’s collective commitment to innovation and safety leadership.

The winners of the 2025 SAFETY4SEA Awards are:

#1 Sustainability Award

Columbia Group received the 2025 SAFETY4SEA Sustainability Award, sponsored by The Britannia Group, for its strong commitment to ESG practices, serving as a model of sustainability in the maritime industry. The company is actively implementing practical solutions to reduce its environmental impact, enhance crew welfare, and adopt innovative technologies. Other short-listed nominees were: Global Maritime Forum, Hellenic Hull Management (HMA) Ltd, InterManager, International Group of P&I Clubs, One Sea Association.

Presenting the award, on behalf of the sponsor, Konstantinos Samaritis, Divisional Director/Head of Greece Office, The Britannia Group, said: ‘’ It is an honour for the Britannia Group to recognise Columbia Group for its strong commitment to sustainability, demonstrating that responsible operations and environmental stewardship go hand in hand. At the Britannia Group, we believe that promoting safe, sustainable, and resilient shipping is a shared responsibility, and we are delighted to support initiatives that inspire the industry to embrace sustainable practices for a better future.’’

Accepting the award, Gregory Spourdalakis, Managing Director, CSM Greece said: ‘’Sustainability is not a side project at Columbia, it is embedded in everything we do. From our investment in clean energy solutions and digital efficiency tools to our human-centered Maritime HR model, we are building an ecosystem where performance, innovation, and care work together. This award belongs to our seafarers, our shore teams, our partners, and our clients, who inspire us every day to raise the bar’’

As part of its ESG commitments, the company has set clear standards for sustainable and ethical practices, not only for its employees but also for suppliers and partners. CMS also invests in digital tools to improve seafarer wellbeing, showing that sustainability is about caring for both people and the planet. In partnership with Kaiko Systems, the company has enhanced ship inspections and maintenance. The software enables crews to quickly collect and analyze data, helping them identify potential issues before they escalate. This proactive approach reduces downtime, keeps ships running efficiently, and lowers emissions by preventing unnecessary fuel waste. Another step toward sustainability is the installation of Reverse Osmosis Filtered Portable Water Stations across the fleet. These systems purify water onboard, reducing reliance on bottled water and significantly cutting plastic waste. CSM recognizes that making shipping more sustainable is an ongoing journey. By combining smart technology, responsible policies, and a focus on environmental and crew wellbeing, it is helping to shape a cleaner, more efficient future for the industry.

#2 Initiative Award

Dry Bulk Centre of Excellence (DBCE) received the 2025 SAFETY4SEA Initiative Award, sponsored by MacGregor, for launching the Dry Bulk Management Standard (DryBMS) platform—an online self-assessment tool that helps stakeholders evaluate safety management practices across 30 key areas within the four DryBMS pillars. Other short-listed nominees were: Arcadia Shipmanagement Co Ltd, ATPI Marine Travel, International SOS, Maritime Academy of Asia and the Pacific (MAAP), Pacific International Lines.

Presenting the award, on behalf of the sponsor, Athena Kanellatou, Area Sales and Marketing Director, Equipment and Solutions Division, MacGregor, said: ‘’The DryBMS PLATFORM distills years of experience, offers a self-assessment tool covering multiple management areas within Performance, People, Plant, and Processes, with graded levels of achievement from Basic to Excellence. The initiative aims to raise safety standards beyond mere compliance, fosters continuous improvement on fleet performance and risk management, promotes collaboration and industry-wide adoption of best practices.’’

Accepting the award, Capt. Panagotis Nikiteas, Chairperson, Dry Bulk Centre of Excellence, said: ‘’The Initiative Award is a powerful reminder that meaningful progress begins with a single step—an idea put into practice, a pilot project scaled up, or a collaborative effort shared across our industry. At the Dry Bulk Centre of Excellence, we are proud to provide a platform where knowledge, best practices, and forward-looking solutions can come together to support safer and more resilient operations across the dry bulk community.’’

The DBCE was created as a hub where expertise, research, and collaboration converge to make shipping safer for every seafarer, vessel, and voyage. The Centre’s journey began with a simple yet powerful belief: safety in the dry bulk shipping sector is not just about compliance—it’s about culture. DBCE is proud to count RightShip and Intercargo among its founding members, working in full synergy to drive progress. DBCE collaborates closely with shipowners, charterers, ports, and regulators worldwide, bringing together knowledge and practical experience. Its initiatives focus on developing best-practice guidelines to address the risks of dry bulk operations, providing specialized training, and leveraging data and analysis to prevent accidents in the sector.More than processes and systems, DBCE emphasizes that its greatest achievement lies in fostering a mindset where safety is not a task at the end of a checklist, but the starting point for every decision.

#3 Technology Award

Unimed Maritime Solutions received the 2025 SAFETY4SEA Technology Award, sponsored by Dorian LPG, for its MedScale+ online platform, which transforms healthcare accessibility in the maritime industry. The platform streamlines medical supply management, compliance tracking, and offers 24/7 telemedicine support, ensuring the health and safety of seafarers worldwide. Other short-listed nominees were: Agwa, Flyability, Kaiko Systems GmbH, ORCA AI, ShipIn Systems

Presenting the award, on behalf of the sponsor, Vasileios Gennimatas, DPA & EM Representative, DORIAN LPG Management Corp, said: ‘’ As a Designated Person Ashore, I understand the critical importance of safeguarding the health and wellbeing of our seafarers. It is my pleasure to introduce a nominee that exemplifies innovation in maritime healthcare. Their MedScale+ online platform is a game-changer, offering seamless medical supply management, compliance tracking, and 24/7 telemedicine support. By bridging the gap between ship and shore, they are ensuring safer, healthier voyages for crews around the world.’’

Accepting the award, Søren Andersen, CEO, Unimed Maritime Solutions, said: ‘’ In an industry where timing, compliance, and care are critical, we developed MedScale to simplify and strengthen the connection between the vessel, the office, and the medical services provider. Our goal has always been clear: to ensure that every ship and every seafarer receives the right medical supplies and the right care. Efficiently, safely, and with full regulatory compliance.’’

Unimed Maritime Solutions provides professional support across six regions worldwide, ensuring optimal operations in some of the most challenging industries, including maritime. Its MedScale+ platform is a cutting-edge online solution that improves healthcare accessibility at sea. A standout feature is real-time medical oxygen tracking, which allows vessels to monitor levels, receive timely replenishment alerts, and remain compliant with international regulations. By integrating digital health solutions with advanced inventory management, MedScale+ enhances efficiency, safety, and compliance within the maritime sector.

#4 Training Award

SQLearn received the 2025 SAFETY4SEA Training Award, sponsored by V.Group, for its comprehensive suite of online courses tailored to various ranks and vessel types. These programs ensure personnel across the maritime industry can acquire essential skills, with specialized content covering key areas such as SIRE 2.0, TMSA, and RightShip requirements. Other short-listed nominees were: Marine PALS, Ocean Technologies Group, OneCare Group, saVRee, Simwave B.V.

Presenting the award, on behalf of the sponsor, Dimitris Patrikios, Managing Director, V Ships Greece and Med cluster, said: ‘’Safety begins with training, because knowledge is the strongest safeguard. All maritime professionals - whether at sea or ashore - should embrace a true learning mindset. This means stepping outside their comfort zone, taking on new challenges, remaining open to change, and continuously developing both hard and soft skills. Such a mindset is the only way individuals can truly grow, both professionally and personally. It is a great pleasure to recognize the professionals and organizations in maritime training whose ultimate mission is to support the development and evolution of the maritime workforce’’

Accepting the award, Antonis Fringas, General Manager & Interim CTO, SQLearn said: ‘’ We believe that training should be meaningful, interactive, and fully aligned with the actual needs of the modern seafarer and operation of a vessel. For over ten years, we have consistently invested in digital training, developing solutions that address the real needs of seafarers and shipping companies. We are proud to support more than 1,000 vessels, 50,000 seafarers, and 150 shipping companies worldwide. Today’s award confirms for us that the combination of cutting-edge technology with deep knowledge of the maritime industry can result in meaningful progress. ’’

SQLearn offers innovative training solutions, including an online training system, a comprehensive course library, and advanced software for vetting inspection preparation, tailored to the dynamic needs of the maritime industry. The company delivers high-quality training to support safety, sustainability, and compliance while addressing the diverse learning needs of maritime professionals worldwide. Its wide range of online courses is designed for all ranks and vessel types, including bulk carriers, LNG/LPG carriers, cruise ships, and yachts. Course topics span Safety, Quality, Environmental Management, Health & Hygiene, Engineering, Navigation, Operations, Ship Handling, Security, and Soft Skills. The library combines reflective learning techniques with multimedia and gamification to enhance engagement and interactivity, covering the multifaceted aspects of maritime operations.

#5 Connectivity Award

Inmarsat Maritime received the 2025 SAFETY4SEA Connectivity Award, sponsored by Latsco Marine Management Inc, for its NexusWave, a service that combines multi-orbit, multi-band connectivity networks into a single, cyber-secure package. Launched in May 2024, NexusWave ensures consistent performance levels regardless of a vessel's location or specific requirements, while offering complete transparency. Other short-listed nominees were: ELCOME, Iridium Communications Inc, Marlink

Presenting the award, on behalf of the sponsor, Ioannis Panorios, Deputy Chief Operating Officer, Latsco Marine Management Inc., said: ‘’ In today's digital age, seamless / round the clock / communication -in any location worldwide- is vital for safe and efficient operations. It is also an absolute necessity for our people onboard, their mental health and wellbeing. This award recognizes outstanding achievements in connectivity solutions that keep our seafarers and ships linked across the oceans. INMARSAT has been synonymous with maritime satellite communication for decades — and through innovation, continues to support maritime communication with reliability and consistency.’’

Accepting the award on behalf of Inmarsat Maritime, Lidia Selivanova – VP, Marketing & Frank Bjornsen, VP Solutions Engineering, said: ‘’This award is really about people. The incredible team behind NexusWave. Our engineering, product, sales, operations, marketing, strategy and many other teams brought to life an ambitious idea: to make the internet at sea feel as reliable as it does on shore. And of course, it’s about our customers. Shipowners, operators, and managers who placed their trust in us, challenged us to do better. And most importantly, the seafarers. You are the heartbeat of this industry. NexusWave was built for you - to stay connected with loved ones, to learn, to relax, to feel closer to home, even when oceans away. Knowing that NexusWave makes a difference in your daily lives is our greatest reward.’’

Recent real-world tests confirm that NexusWave achieves maximum download speeds of up to 340 Mbps, maximum upload speeds of up to 80 Mbps, and an average availability exceeding 99.9%. Designed to provide ‘connected confidence,’ the service ensures consistent performance regardless of a vessel’s location or operational requirements, while offering full transparency on total cost of ownership with no unexpected charges. NexusWave features secure-by-design infrastructure, including network segregation, traffic encryption, and enterprise-grade firewall technology trusted by governments and enterprises worldwide. Supported by Inmarsat’s global network of engineers available 24/7, customers enjoy complete peace of mind. Beyond performance and security, NexusWave delivers the flexibility to meet evolving customer needs. By supporting digitalisation and crew welfare initiatives, it transforms ships into fully connected offices and homes—a capability that has attracted the attention of some of the world’s leading shipping companies.

#6 Cyber Security Award

Rakuten Maritime received the 2025 SAFETY4SEA Cyber Security Award, sponsored by The UK P&I Club, for its solutions which offer comprehensive and proactive cybersecurity support tailored to every stage of a ship’s life cycle. The solutions help operators comply with IACS Unified Requirements E26 and E27, which mandate robust measures to protect against evolving cyber threats. Other short-listed nominees were: CyberOwl, CYDOME, Dryad Global, Nordic Maritime Cyber Resilience Centre (NORMA Cyber).

Presenting the award, on behalf of the sponsor, Capt. Konstantinos G. Karavasilis, Regional Director, Loss Prevention, UK P&I Club., said: ‘’ At the UK P&I Club, we recognise that cyber security is now a core pillar of maritime risk management. We are proud to sponsor this award, which honours outstanding efforts in safeguarding ship operations in the digital age. Rakuten Maritime’s end-to-end cyber resilience solutions exemplify the forward-thinking approach needed to meet IACS UR E26 & E27 and beyond. Their work aligns with our own mission, as reflected in our recent Risk Focus: Cyber Risk at Sea, supporting Members with clear, practical guidance on evolving threats.’’

Accepting the award, Ryan Son, Head of Business Unit, Rakuten Maritime, said: ‘’ We are incredibly proud that Rakuten Maritime's cutting-edge technology and commitment to compliance consistently earn recognition from various global partners. Our core products recently received the Innovation Endorsements from ClassNK, a prominent Japanese ship classification society, and we continue to secure further certifications. This highlights our significant contribution to enhancing international compliance, advancing smart ship infrastructure, and bolstering maritime cybersecurity.’’

Launched in December 2024, Rakuten Maritime offers an integrated cybersecurity solution tailored for smart ships and autonomous vessels, providing comprehensive protection across the entire vessel lifecycle. Among its innovative core tools, the Threat Modeler (TM) automatically analyzes and visualizes ship design data, simulates potential cyber risks, and develops defense strategies by building an asset inventory (CBS) and mapping network topology. Additionally, the Maritime Cybersecurity Threat Intelligence (MCTI) service helps ship owners and operators stay ahead of cyberattacks. By continuously collecting and analyzing real-time global threat data, it delivers tailored intelligence, enabling operators to anticipate risks and respond effectively with expert guidance.

#7 Tanker Operator Award

Fleet Management Limited received the 2025 SAFETY4SEA Tanker Operator Award, sponsored by Green- Jakobsen, for its commitment to developing the next generation of global maritime talent by strengthening training and fostering innovation. Through various initiatives, the company actively invests in its people, promotes diversity and inclusion, and supports their well-being and soft skills development. Other short-listed nominees were: China LNG Shipping (International) Co Ltd, Teekay Tankers Ltd., TMS Tankers Ltd, Tsakos Energy Navigation Ltd (TEN Ltd)

Presenting the award, on behalf of the sponsor, Milas Green, UK Regional Representative & Commercial Manager, Green Jakobsen, said: ‘’ While many companies operate ships well, not all develop the people who run them. Fleet Management invests in continuous training, innovation, and soft skills that prepare seafarers not just for today, but for tomorrow. Their commitment to diversity, inclusion, and well-being also proves that safety begins with people, not systems. This is the same belief that drives us at Green-Jakobsen.’’

Accepting the award, Yiannis Maroulis, General Manager, BD, Fleet Management Limited (Hellenic), said: ‘’ Over the past year, Fleet Management has deepened our commitment to our people and strengthened our tanker operations by enhancing onboard safety, supporting the energy transition with dual-fuel vessel management, digital investment, and proactive crew wellbeing support and security across high-risk zones. Our initiatives reflect a simple truth: when we invest in our people, we elevate the entire industry.’’

Fleet Management Limited delivers superior ship management services, defined by what the company and the industry recognize as “The FLEET Way.” For more than 30 years, Fleet has been known for its unwavering values. The company invests heavily in its people, with a 20-member HR team dedicated to culture, engagement, and development of all shore employees. Its 250+ technical and operations professionals provide world-class expertise, supported by 80+ QHSE specialists driving safety standards and continuous improvement. Today, Fleet manages more than 650 vessels and employs over 27,000 qualified seafarers, many of whom are trained through its institute in Mumbai. With operations in 12 countries and technical and crewing hubs worldwide, Fleet ensures 24/7 support for its customers. Fleet is a leading provider of technical management, with all vessels certified to the highest international standards, including ISO 9001, ISO 14001, ISO 50001, OHSAS 18001, and ISM Code compliance from DNV. It is also one of the world’s largest tanker managers, handling vessels ranging from 5,000 dwt to 302,000 dwt. To build a pool of dual-fuel engineers, Fleet has introduced a structured training pathway: one month of sea time and at least one dual-fuel bunkering operation onboard a dual-fuel ship for all engineers and Masters. Additionally, Fleet is developing an in-house course at its training center, designed specifically for dual-fuel (DF) vessels. This program will enhance the skills and knowledge of officers and crew in handling alternative fuels such as LNG, methanol, and LPG.

#8 Dry Bulk Operator Award

Capital Group received the 2025 SAFETY4SEA Dry Bulk Operator Award, sponsored by IRI / The Marshall Islands Registry, for placing safety at the heart of its operations. The company enhances navigational safety through the use of the HiNAS augmented reality assistant and further strengthens onboard security with AI-powered CCTV systems, reflecting a robust, technology-driven safety culture. Other short-listed nominees were: Anglo American Shipping Pte Ltd, Berge Bulk Maritime Pte Ltd, Navilands Bulker Management Ltd., Tomini Shipping

Presenting the award, on behalf of the sponsor, Spyros Tarasis, Maritime Business Operations Consultant, IRI/THE MARSHALL ISLANDS REGISTRY, said: ‘’We warmly congratulate Capital Group for their unwavering commitment to safety and operational excellence. As the world places increasing emphasis on the role of shipping—not just as a vital link in the global economy, but as a sector expected to lead responsibly - it is imperative that we all collaborate to uphold the very highest standards. For the dry bulk sector in particular, running safe, transparent, and responsible operations is not just a necessity; it is a responsibility we owe to our seafarers, our stakeholders, and society at large.’’

Accepting the award, Stavros Meidanis, Managing Director, Capital Containers Ship Management Corp., said: ‘’ Receiving this prestigious award validates our vision and approach to ship management reflecting our strong commitment to the green transition in shipping. This award belongs to every team member who works tirelessly to ensure our vessels operate safely, efficiently, and responsibly. It is recognition of our seafarers at sea, our professionals on shore and everyone who shares our commitment to excellence. Our managed ships are not just vessels— they symbolize our pledge to a cleaner, more sustainable maritime future.’’

Expanding its fleet, Capital has ordered 10 LNG dual-fueled container ships of 8,400 TEU from New Times Shipbuilding, with a total value of approximately US$1.25 billion. These vessels are expected to be delivered between early 2027 and 2028. Additionally, Capital plans to order six 8,800 TEU LNG dual-fueled container ships from HD Hyundai Samho, as well as eight 2,800 TEU and six 1,800 TEU container ships from HD Hyundai Mipo. All new vessels will be equipped with scrubbers and enhanced auxiliary power units, with the possibility of installing carbon capture systems in the future. They comply with AMSA requirements for cargo handling and cargo hold access, as well as the SGMF Safety Guidelines for LNG bunkering. As previously mentioned, the ships feature ShipIn CCTV systems to reduce onboard incidents, enhance anti-piracy measures, and improve cargo operation efficiency. They also include cyber security monitoring equipment in compliance with IACS UR E26.

The above organizations received a SAFETY4SEA Award after achieving the highest rankings, based on a combination of open online voting (50%) and evaluation by an Industry Panel of Experts (50%) during the recent voting period.

#9 Leadership Award

Lastly, the 2025 SAFETY4SEA Leadership Award, sponsored by SAFETY4SEA, was bestowed upon Mr. Joseph E. M. Hughes, Chairman of The American Club, in recognition of his exemplary leadership, strategic vision, and lifelong dedication to safer and more sustainable shipping over a career of more than four decades

“Behind every great initiative, every breakthrough, and every bold step toward sustainability, there are individuals - visionary leaders who drive change, inspire teams, and challenge the status quo. We are honored to announce that Joseph E. M. Hughes receives the Leadership Award, a pioneer who has left a lasting impact on our industry,” said Apo Belokas, Managing Editor of SAFETY4SEA, as he welcomed Dorothea Ioannou to the stage to present this year’s award.

Presenting the award, Dorothea Ioannou, Chief Executive Officer, Shipowners Claims Bureau, Inc., Managers of American Steamship Owners Mutual Protection & Indemnity Association, Inc, said: ‘’ As CEO of the Managers of the American P&I Club, Joe steered the Club with a steady hand, leading its transformation from domestic to international insurer, while strengthening the core ethos of excellence in service and protection of its stakeholders. But Joe’s influence extends beyond the Club. For me personally, having had the privilege of his mentorship over the last 20 years, I can attest not only to his exceptional leadership but also to his generosity of spirit. He leads with both intellect and humanity, and his contribution cannot be measured solely in achievements, but in the countless professionals he has inspired at the Club and within maritime communities around the world.

Accepting the award, Joseph E M Hughes, Chairman, The American Club, said: ‘’ Successful leadership ultimately derives from the support of those upon whom a leader relies. I have been singularly blessed over the last thirty years by the incomparable energy and talents of my colleagues at SCB and the American Club across the world. It is to them I dedicate this honor, with gratitude to Safety4Sea for bestowing it on me, and with a special thought for the safety and wellbeing of seafarers everywhere. We must always remember that it is their efforts that make our own enterprises possible’’

As Chairman of Shipowners Claims Bureau, Inc., the managers of the American P&I Club, Joseph Hughes has spent nearly thirty years advancing risk management, loss prevention, and safety initiatives across the global shipping industry. His efforts have directly strengthened operational safety standards and fostered a culture of accountability and resilience within the maritime community. Joseph’s commitment to maritime safety is further reflected in his work with classification societies and regulatory bodies, where he continues to shape policies and best practices that protect lives, assets, and the marine environment. His influence extends through key roles with NAMEPA, the American Bureau of Shipping, Lloyd’s Register, and other leading industry organizations. This longstanding dedication was recognized with his induction into the International Maritime Hall of Fame in 2011.

“Looking ahead, let us remember that the journey toward sustainability requires vision, resilience, and action that go well beyond compliance,” Apo Belokas concluded, congratulating all the nominees and winners who have set the example for a stronger and safer industry.

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The Cyprus Union of Shipowners (CUS) urges the Member States of the European Union, and in particular the Government of the Republic of Cyprus, to vote against so as to allow more time for wider consensus in relation to the proposed Net- Zero Framework (NZF) of the International Maritime Organization (IMO), scheduled for adoption at the MEPC ES.2 session (14–17 October). As currently drafted, the NZF poses a serious threat to the European shipping, economy, and energy security, and also represents a grave danger to small and medium-sized enterprises (SMEs), which form the backbone of European shipping. In essence, it represents a multi-billioneuro tax that does not reduce emissions but instead shifts the cost to end-consumers fueling inflation across the European Union.

1) Lack of any meaningful environmental benefit

• • The NZF imposes exorbitant charges despite the current lack of realistic technologies or infrastructure to ensure compliance.
• • It relies on so-called “green” fuels — methanol, ammonia, hydrogen, and synthetic LNG — which are not available at industrial scale and consume more renewable energy in production than they yield.
• • Rather than reducing emissions, the framework diverts critical financial resources away from genuine technological and energy innovation, thereby slowing the transition to cleaner solutions.

2) A fiscal measure with socially unjust consequences Shipping transports over 90% of global trade. Any additional cost imposed on ships will inevitably be passed on to the prices of all goods and services — from food and medicines to raw materials and energy.

The result will be broad-based price increases, a higher cost of living and intensified inflation.

3) A threat to fleet viability and the global supply chain The NZF’s implementation would lead to a supply shortage, at a time when there are no mature or scalable alternatives to fill the supply gap. As a result, the SMEs, being the backbone of EU shipping, will face competitive challenges resulting in a setback for the EU as a whole. Such an outcome would entail:

• • A permanent strategic setback for Europe, resulting in the loss of its global maritime leadership.
• • Severe ecological damage, as the premature dismantling and replacement of ships would generate massive waste and additional emissions.
• • Destabilization of global supply chains, with delays, product shortages, and higher transport costs.
• • Accelerating inflation and loss of purchasing power throughout Europe and, by extension, globally.

4) Implications for Europe’s energy security Europe remains heavily dependent on LNG imports. Currently, imported LNG reaches Europe, already more than double the U.S. domestic price. Under the NZF, this cost is projected to rise further, triggering energy price surges, further inflationary pressure and a deepening energy crisis — with disproportionate effects on households and industry.

5) Shipping is already leading in emissions reduction international shipping is the most efficient and environmentally sustainable mode of transport. Through technological innovation, operational optimization and continuous investment, the industry has achieved significant emission reductions, even as transport volumes have multiplied.

6) Cyprus and Europe have a duty to protect their shipping industries Shipping is a pillar of the Cypriot economy and a strategic sector for Europe as a whole. Cyprus, as a major maritime nation, must support the European consumer and the creation of a global and decarbonization incentive scheme whose funds are re-invested amongst others in the shipping industry, whilst at the same time rejecting unfair, ineffective, and damaging multi-billion taxation schemes (whether regional or not) with no experience or clear procedures over how such funds are utilized. The Cyprus Union of Shipowners supports global policies of genuine environmental progress under the auspices of the IMO — and to that end, calls upon the Government of the Republic of Cyprus and all EU Member States to vote against the current IMO’s Net-Zero Framework (NZF) in order to allow more time for consensus by major stakeholders. Any solution should be founded on research, technological innovation, and realistic, science-based solutions that safeguard people, the economy, environment, and the industry, without crushing economies and consumers.

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