Okeanis Eco Tankers Corp.  announced that the 2025 Annual Meeting of the Shareholders of the Company was duly held on May 30, 2025 and that all proposals on the agenda were approved.
At the Annual Meeting, the shareholders of the Company:

• Elected the following eight directors to serve until the next annual meeting of shareholders or until their successors are elected and qualified: Ioannis Alafouzos (Chair), Robert Knapp, Daniel Gold, Joshua Nemser, Charlotte Stratos, Francis “Frank” Dunne, Petros Siakotos Konstantinidis and Dimitrios Papalexopoulos; and
• Ratified the appointment of Deloitte Certified Public Accountants S.A. as independent auditors for the year ending December 31, 2025.

Following the Annual Meeting, the Board of Directors of the Company approved the expansion of the size of each of its standing committees, effective June 1, 2025, and designated Frank Dunne to each such committee. The committees therefore are now comprised of the following directors:

• Audit Committee:Charlotte Stratos (Chair), Petros Siakotos and Frank Dunne.
• Remuneration Committee:Charlotte Stratos (Chair), Robert Knapp and Frank Dunne.
• Nominating/Corporate Governance Committee:Petros Siakotos (Chair), Charlotte Stratos and Frank Dunne.

Each of the directors serving on the committees has been determined to be independent in accordance  

About OET
OET is a leading international tanker company providing seaborne transportation of crude oil and refined products. The Company was incorporated on April 30, 2018 under the laws of the Republic of the Marshall Islands and is listed on Oslo Stock Exchange under the symbol OET and the New York Stock Exchange under the symbol ECO. The sailing fleet consists of six modern scrubber-fitted Suezmax tankers and eight modern scrubber-fitted VLCC tankers.

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The American P&I Club celebrated its 20^th anniversary in Piraeus with an open house, where Managers and Greece based Directors welcomed Members, colleagues, and friends, and recognized the people who have helped make SCB (Hellas) so successful.

Since 2005, the Piraeus office has become a cornerstone of the Club’s international operations. Led by Managing Director Joanna Koukouli, the SCB (Hellas) team spans claims, business development, compliance, finance, HR, and administration. Their expertise continues to strengthen the Club’s global network and deepen ties with the Greek shipping community and surrounding region.

This milestone reflects on the Club’s original vision to greatly amplify the services available to the Club’s membership in Europe, the Middle East, Africa, and beyond. From New York, Houston, Hong Kong, and Shanghai to London, Limassol and Piraeus, the message remains clear: the Club remains single-mindedly committed to delivering the highest levels of service to its Members.

Special congratulations were also granted to three of the founding team Members— Dorothea Ioannou, Chief Executive Officer, Marivi Banou, Senior Claims Executive, and Annie Papadimitriou, Operations, Communications & Human Resources Manager, who also celebrate 20 years with the Club this year. Their leadership and long-standing dedication have helped shape the Club’s regional presence and global service into what it is today.

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The ESG Shipping Awards INTERNATIONAL 2025 Ceremony & Gala Dinner illuminated the maritime world’s unwavering commitment to Environmental, Social, and Governance (ESG) excellence, as over 400 global maritime guests gathered in Athens to honor outstanding achievements shaping the sustainable future of global shipping.

Held under the auspices of the Ministry of Maritime Affairs and Insular Policy and the Hellenic Chamber of Shipping, the prestigious event welcomed a lineup of international stakeholders, institutional figures, and industry champions. Distinguished guests included Mr. Stefanos Gkikas, Deputy Minister of Maritime Affairs and Insular Policy, Mr. Dimitris Tsiodras representing the European Parliament Committee on the Environment, Mr. Tryfon Kontizas, Commandant of the Hellenic Coast Guard -Vice Admiral Hellenic Coast Guard, Mr. Charalampos Simantonis, President of the Hellenic Shortsea Shipowners Association – European Shortsea Network, Mr. George Alexandratos president of Hellenic Chamber of Shipping and many others.

Opening the evening, the organizers, Mrs. Helena Athoussaki and Mrs. Katerina Stathopoulou, highlighted the transformational power of ESG in the maritime sector, highlighting the industry's shift from compliance to leadership, and the importance of recognizing not only corporate strategy but also the people and actions driving real change.

“What makes this initiative particularly special is that it was born here in Greece — a nation with a profound maritime heritage and an unwavering commitment to the future of global seaborne trade. The long-standing global leadership of Greek shipping is no coincidence. It reflects a deep-rooted dedication to quality, responsibility, and progress. Today, the sustainable development of maritime transport and the protection of the environment remain top priorities for the Greek government.” said Mr. Stefanos Gkikas, Deputy Minister of Maritime Affairs and Insular Policy, during his opening speech.

“Shipping has always been a sector of responsibility, resilience, and respect long before ESG became a global framework. But today, ESG is no longer optional; it is a necessity, a standard, and most importantly, an opportunity to modernize. Let’s ensure it remains practical, balanced and a

true catalyst for change.” emphasized Mr. George Alexandratos, President of the Hellenic Chamber of Shipping.

The evening’s keynote was delivered by Mr. Björn van Roye, Head of Global Economic Modelling at Bloomberg Economics, who spoke on the shifting global power landscape, redefining geo-economic relations, and the transformation of traditional trade routes— underlining the urgent need for adaptability, resilience and responsible leadership in maritime operations.

Among the most anticipated moments of the event was the presentation of the ESG Motivational Leadership Award to Mrs. Marily Frangista, Managing Director of Franco Compania Naviera S.A., and Mrs. Semiramis Paliou, CEO of Diana Shipping Inc. and Chairperson of HELMEPA & INTERMEPA. Both were honored for their longstanding contribution and inspirational leadership in the maritime sector.

“Leadership is about shaping human behavior and that means listening. As the older generation in business and shipping, we have a responsibility to learn from the younger voices rising within our industry. Their ideas deserve not only our attention but also recognition” said Mrs. Frangista during her acceptance.

“I’m deeply honored by this award. I find my inspiration and my motivation in my people, my colleagues and the seafarers who sail across the seas with passion and dedication. So, this award is as much theirs as it is mine.” added Mrs. Paliou.

One of the most emotional moments of the evening was the heartfelt testimonial by Captain Panagiotis Tsakos, reflecting on the true meaning of ESG in shipping: "As a captain of an older generation, I must admit that terms like ESG were not part of our vocabulary. In Greek shipping, for decades, if not centuries, we have lived by three simple principles: do your work to the best of your ability, always honor your word and take care of your people and your community. We believe that this is what these awards are truly about!”

The evening concluded on a high note with a captivating live performance by Dionisis Schinas adding a touch of celebration and elegance to an unforgettable night of recognition and purpose.

The organizers extend their sincere appreciation to event planner Stelina Markoulaki and the team at Digital Shadows as well as the entire production team, whose professionalism and creative vision brought the ESG Shipping Awards 2025 INTERNATIONAL to life ensuring a seamless, elegant, and impactful experience for all guests.

The organizers extend their sincere gratitude to the event’s partners — ABS, Bloomberg, BPCO Ship Brokers, Bureau Veritas, Coral, CSE, Dynamic Group of Companies, Emicert, Enablon, Eurobank, Eurochem International, EY, Franman, GMCG, GTP Works, Jotun Performance Coatings, Learning Seaman, Lloyd's Register, Margetis Maritime, Marine Tours, Marichem Marigases Worwide Services, Moore, Oceanscore GmbH, Osapiens, PCT, PPG Greece, RINA, Skuld, Tallon Commodities, The Liberian Registry, The Marshal Islands Registry, Timagenis Law Firm, VDI Law Firm, Yodiwo whose support and collaboration were instrumental in making the ESG Shipping Awards 2025 INTERNATIONAL a global platform for impact, innovation, and industry-wide recognition.

Award Winners – ESG Shipping Awards 2025 INTERNATIONAL

ESG Leader Award presented by Dynamic Group of Companies

• • GOLD: Pacific Basin Shipping Limited
• • SILVER: Norwegian Cruise Line Holdings Ltd.
• • BRONZE: Seaven Tanker & Dry Management Inc.

Environmental Leader Award presented by Mrs. Semiramis Paliou, HELMEPA & INTERMEPA Chairperson

• • GOLD: Latsco Shipping Limited
• • SILVER: Star Bulk Carriers Corp.
• • BRONZE: Columbia Group

Climate Change Leader Award presented by Bloomberg L.P.

• • GOLD: Lemissoler Navigation Co. Ltd
• • SILVER: Contships Management Inc.
• • BRONZE: Performance Shipping Inc.

Social Leader Award presented by Vise- Admiral Tryfon Kontizas, Commandant of the Hellenic Coast Guard (HCG)

• • GOLD: Tsakos Group of Companies
• • SILVER: Capital Group
• • BRONZE: Fleet Management Limited

Community Contribution Leader Award presented by Tallon Commodities Ltd

• • GOLD: Contships Management Inc.
• • SILVER: AIDA Cruises
• • BRONZE: OSM Thome

Diversity, Equity & Inclusion (DEI) Leader Award presented by Osapiens Holding GmbH

• • GOLD: Oldendorff Carriers GmbH & Co. KG
• • SILVER: Wallem Group
• • BRONZE: OSM Thome

People Leader Award presented by Liberian Registry

• • GOLD: Star Bulk Carriers Corp.
• • SILVER: Chandris (Hellas) Inc.
• • BRONZE (tie):

o Berge Bulk

o Alma Shipmanagement & Trading SA

Governance Leader Award presented by Eurobank

• • GOLD: Century Bulk Carriers Management Co.
• • SILVER: Silver Lake Shipping Company S.A.
• • BRONZE: Wallem Group

Technology Leader Award presented by Jotun Performance Coatings

• • GOLD: Seanergy Maritime Holdings Corp.
• • SILVER (tie):

o Oceandiva

o AIDA Cruises

• • BRONZE: Berge Bulk

Industry Partnership Leader Award presented by the Organizers

• • GOLD: Navios Maritime Partners L.P.
• • SILVER: Capital Group
• • BRONZE: Century Bulk Carriers Management Co.

ESG Motivational Leadership Award presented by ABS

Mrs. Marily Frangista, Managing Director of Franco Compania Naviera S.A. and Mrs. Semiramis Paliou, Director & CEO of Diana Shipping Inc. and HELMEPA & INTERMEPA Chairperson.

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The average TCE of the fleet of Nasdaq-listed company Seanergy Maritime Holdings Corp. was at $13,403 per day, exceeding the BCI for Q1 2025.

The average dividend for Q1 2025 was also $0.05 per share, marking the 14th consecutive quarterly dividend with total dividends of $2.26 per share or $43.1 million.

New financing and refinancing with more favorable terms reached $88.1 million. and the debt-to-market ratio of the fleet is below 50%, with no loan maturities before Q2 2026

In addition, the company took delivery of two Japanese vessels with immediate commencement of their charters.

In the first quarter of 2025, the Company achieved a net turnover of $24.2 million, compared to $38.3 million for the same period in 2024.

Cash and cash-equivalents and restricted cash, as of March 31, 2025, stood at $30.9 million. Shareholders’ equity at the end of the first quarter was $254.8 million. Long-term debt (senior loans and other financial liabilities) net of deferred charges stood at $318.8 million, while the book value of the fleet, including a chartered-in vessel, was $546.9 million.

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “Following a year of record financial performance in 2024, Seanergy entered the first quarter of 2025 with a clear strategic focus: to remain well positioned to capitalize on the strong long-term fundamentals of the Capesize sector. We pursued this through selective fleet expansion—acquiring high-quality Japanese-built vessels—and through strategic refinancing transactions that enhanced our financial flexibility. “During the quarter, we successfully concluded the deliveries of one Capesize and one Newcastlemax vessel, both of which have commenced employment under index linked time charters.
These additions bring our fleet to a total of 21 vessels, reinforcing our position as a leading pure-play Capesize company. In parallel, we concluded $88.1 million in new financing and refinancing transactions, addressing all our near-term debt maturities and strengthening our liquidity, while keeping our loan to value ratio below 50%. “Our first-quarter results were impacted by the typical seasonal slowdown in dry bulk trade.

Despite this, we recorded a daily TCE of $13,403 for the quarter, lower than the record levels of the first quarter of 2024, but in line with the seasonal trend of the market. Importantly, market conditions began to recover by late February, and we expect a meaningful improvement in our second-quarter earnings. As of today, approximately 39% of our fleet days for Q2 are fixed at an average daily rate of approximately $22,700, with projected blended fleet TCE exceeding $19,000. “Looking further into 2025, we have already secured roughly one-third of our operating days until the end of the year at an average daily rate exceeding $22,000. This forward coverage enhances visibility and provides a strong base for continued cash flow generation. Reflecting this and the improving market backdrop, our board has declared a discretionary dividend of $0.05 per share for the quarter—our 14th consecutive quarterly distribution—bringing total shareholder returns under our policy to approximately $43.1 million. “Turning to market dynamics, we remain optimistic about the Capesize segment. Global seaborne trade volumes and ton-mile demand continue to expand, while supply growth is constrained by a historically low orderbook, elevated newbuilding costs, and tightening environmental regulations.
“Iron ore and bauxite trades have shown resilience despite macroeconomic uncertainty and weather-related disruptions.

We expect iron ore volumes to strengthen further from Q2 onward, supported by increased Brazilian exports and the anticipated start of West African exports from Simandou by year-end. Bauxite remains a fastgrowing trade, although recent instability in Guinea may cause short-term volatility. Coal volumes moderated in Q1 after a strong 2024 but remain supported by strong energy demand, particularly from Southeast Asia’s expanding coal-fired power generation. “On the supply side, the Capesize fleet is aging, with a growing portion over 15 years old. Fleet growth has resumed its downward trend, and a high number of dry-dockings scheduled for the remainder of 2025 is expected to further tighten vessel availability. As an example, only six Capesize vessels have been added to the orderbook so far in 2025, compared to 31 during the same period last year, according to Clarksons Research. “To conclude, we are pleased with our fleet positioning, earnings visibility, and financial strength entering the rest of 2025. The Capesize market has demonstrated resilience through a challenging first quarter, and we remain confident in our ability to deliver strong results as market conditions continue to improve.”

The Company’s operating fleet consists of 21 vessels (2 Newcastlemax and 19 Capesize) with an average age of approximately 13.9 years and an aggregate cargo carrying capacity of approximately 3,803,918 dwt.

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Continuing a long-standing Greek tradition, Ioanna Prokopiou of Prominence Maritime, who has already served as Vice President of BIMCO, will be the next President of the world’s largest shipping association.

As announced after the end of this year’s Baltic Council meeting in the recent elections, Paul Pathy has been elected as the 47th President in BIMCO’s history and the first from the Americas to assume this role.

The new President takes the reins at a critical time for the shipping industry, succeeding Nicholaus H. Schues who completed his two-year term.

Ioanna Prokopiou holds a degree in Electrical and Electronic Engineering from the University of Bath, and a Master in Maritime, Finance and Commerce from City University, London, and has completed the Leadership Development program at Harvard University.

She is CEO of Sea Traders SA and founder of Prominence Maritime SA. Between 2003 and 2007 she worked in various departments of Dynacom Tankers Management and Dynagas Ltd and between 2007 and 2009 she was head of the S&P and Projects departments of Dynacom Tankers Management and Dynagas Ltd. She is a member of the board of directors of the Greek and Cypriot Shipowners' Association, a member of the board of directors of the North of England P&I Club and is also involved in real estate, building, design and renovation and human resourcing.

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LALIZAS continues its global expansion across the Americas. After entering North America with the acquisition of LALIZAS/ALEXANDER in 2018, REVERE SURVIVAL in 2024 and the launch of LALIZAS Canada in 2025, the company now sets sail for South America, proudly announcing the acquisition of ATIVA NÁUTICA, Brazil’s leading lifejacket manufacturer.

This milestone marks a significant step in the manufacturer’s global growth, while also celebrating a remarkable company that has shaped the safety nautical sector in Brazil for over two decades.

Founded in 1998 by Marta Lara and Roberto Sampaio in Campinas, São Paulo, Ativa began as a small venture in a 250 m2 space with just three employees. Through their commitment and dedication, alongside with their niece and partner Julia Ramalho, Ativa became Brazil’s leading name in lifesaving equipment. Today, the team has grown to 200 members, and Julia will continue her journey with LALIZAS to uphold Ativa’s culture and values.

LALIZAS holds even greater respect for small businesses that have grown into successful organisations, as it also began with manufacturing in a small house in Piraeus, Greece, with just three employees.

Marta and Roberto seized the opportunity to become part of something greater. Partnering with LALIZAS meant not only aligning with shared values and principles but also joining forces with a group known for elevating businesses while honouring their legacy. Ativa chose LALIZAS, confident in its reputation for transforming companies into stronger, more profitable organisations without compromising their unique identity.

“Ativa is like my third child,” said Marta Lara. “Seeing Ativa as part of a global group with such a prestigious history makes us very proud and honoured. Knowing that LALIZAS will care for it, grow it, and respect its legacy gives me peace of mind.”

The safety equipment manufacturer has a strong record of accomplishment in this area, beginning with the acquisition of Italian companies in 2012 (Lofrans’, MAX POWER, Nuova Rade, and OCEAN Fenders), as well as ARIMAR in 2019, all of which are leaders in the nautical market, each with its own distinct character.

“This acquisition is a testament to LALIZAS’ global strength—not just as a manufacturer of safety equipment, but as a trusted industry leader known for empowering companies, transforming them into even more successful and profitable businesses, while always respecting their roots and people,” Stavros Lalizas, Founder & CEO of LALIZAS commented.

LALIZAS is thrilled to welcome Ativa to #thelalizasforce and is dedicated to advancing the nautical industry in Brazil through its extensive expertise and high-quality nautical equipment. “This move strengthens our position in the Americas and unlocks new opportunities in a thriving market. Together, we are setting new standards in safety — across continents,” he concluded.

About LALIZAS

LALIZAS is a family-owned company, whose vision is to produce high quality products that ensure safety at sea, and distribute them in international markets through its well‐ established distribution network. It was founded in Piraeus, Greece, in 1982. Its product range includes lifejackets (foam-filled and inflatable) ISO and SOLAS meeting all regulations under any flag, life rafts, MOB devices and navigation lights, immersion suits, safety harnesses, IMO signs and many other marine products. All items are being manufactured and distributed at competitive prices to maritime companies, ship suppliers, chandleries, marine stores, shipyards and boat builders around the world, always taking into consideration the market’s feedback. Τhe genuine care for their customers and the indispensable input of their employees, who are considered as #thelalizasforce, has resulted in the company's growth and will continue to contribute positively to the continuous development of LALIZAS. For LALIZAS ‘Safety is not just a product, it is an ongoing process!’

About ATIVA NÁUTICA

Ativa Náutica is Brazil’s largest manufacturer of lifejackets and buoyancy aids, offering safe and reliable rescue equipment for work, leisure, and sports since 1998. Their products are tested and certified by the Brazilian Navy, and the company has maintained ISO 9001 certification since 2007. As the only company in Brazil to produce SOLAS-approved life jackets, Ativa is dedicated to developing high-quality aquatic safety equipment that ensures protection in any situation. The company's vision is to save lives by crafting durable, comfortable products accessible to all. Ativa emphasizes exceptional customer service and values its employees as integral to its success. Additionally, business partners and small retailers nationwide are crucial to Ativa’s mission, expanding its reach and impact. Values: Respect, Quality, and Courage. Ativa Náutica: "Saving lives since 1998".

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At a conference organized by PPA S.A., a study along with the initiatives taken by the Port Authority for the adaptation of the port to climate change were presented on 22nd May 2025. The tangible and immediate response of the Port of Piraeus to the major challenge of Climate Change was presented at a conference titled “The Port of Piraeus and Climate Change,” held yesterday at the PPA’s Stone Warehouse.

In the presence of representatives from the Government, Local Authorities, major stakeholders of the maritime sector and the scientific community, the Management of PPA S.A. presented the first comprehensive study of its kind in Greece, aiming at the resilience and sustainability of port infrastructure, as well as the actions that make the Port of Piraeus a pioneer in climate awareness and preparedness. The study was developed in cooperation with a consulting - research company and a specialized team from the Academy of Athens.

The Minister of Maritime Affairs and Insular Policy, Vassilis Kikilias, in his remarks said: “I know the consequences of the climate crisis – I experienced them in the harshest way in our country over the past few years. The entire Mediterranean basin is also experiencing these consequences, and unfortunately, this phenomenon is expanding — both across more sectors and more countries — causing significant problems. First and foremost, in the safety of citizens; secondly, in their infrastructure and property; and thirdly, in critical infrastructure such as our ports. I want to say that, in our view, the impossible must become possible: we must create a stronger framework for both protection and forecasting, based on these steps, so that we can rise to the occasion in the face of climate change”.

Additionally, the Deputy Minister for Climate Crisis and Civil Protection, Kostas Katsafados, stated that: “For the first time in Greece, one of Europe’s most important ports -the Port of Piraeus- is undertaking a holistic and scientifically substantiated assessment of the impacts of climate change and that the State supports efforts towards this direction”.

The Mayor of Piraeus, Yiannis Moralis, the Mayor of Perama, Giannis Lagoudakos, the Deputy Mayor of Piraeus, Dimitris Karydis, the Deputy Regional Governor of Piraeus, Stavroula Antonakou and Alexandros Koulidis, an official from the Ministry of Environment also delivered their greetings.

The actions that were necessary in order for the Port of Piraeus to adapt to Climate Change were presented by the Deputy CEO of PPA S.A., Panagiotis Tsonis. As he noted, “ports are called upon and are obligated to play a leading role in addressing climate action.”

The renowned Physicist, Secretary General of the Academy of Athens, and National Ambassador for Climate Change, Professor Christos Zerefos, spoke on the challenge of Climate Change. He emphasized that “the climate crisis is unfolding at a pace faster than previously estimated, and an increase in extreme weather phenomena is expected “.

The CEO of PPA S.A., Su Xudong welcomed all the attendees and commented that “today’s event highlights the importance of collaboration for the effective promotion of the sustainable development”.

As part of the conference, the Special Study on Shielding and Adapting to Climate Change for the Port of Piraeus was presented, with its main objective being the analysis of the port’s vulnerability based on current climate models. Related presentations were delivered by Ms. Chrysanthi Kontogiorgi, Deputy Head of the PPA’s Property and Environmental Services Department; Mr. Ioannis Kapsomenakis, Researcher at the Academy of Athens’ Center for Atmospheric Physics and Climatology Research; Ms. Eleni Gouvatsou, Civil and Environmental Engineer at the Environmental Consulting Company ADENS S.A.; and Ms. Stella Kaimaki, also a Civil and Environmental Engineer at ADENS S.A.

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The Panama Maritime Authority (PMA) has strengthened its collaborative ties with the International Transport Workers’ Federation (ITF) during a recent visit by ITF delegates to the General Directorate of Seafarers (DGGM). The meeting focused on reinforcing the protection and well-being of seafarers sailing under the Panamanian flag.

A central highlight of the meeting was the DGGM’s significant achievement in recovering USD $8.5 million in outstanding wages for seafarers by the end of 2024. This figure marks a 52.70% increase compared to the previous year’s recovery of USD $5,593,941.82—underscoring Panama’s commitment as a responsible maritime administration to ensuring decent work and compliance with international labor standards.

PMA’s proactive approach was further demonstrated through its handling of 271 inquiries and 312 labor-related complaints in 2024, which facilitated the safe repatriation of 368 crew members of various nationalities. These efforts were made possible through effective coordination with shipowners, operators, and Protection & Indemnity (P&I) Clubs. Additionally, the DGGM conducted 343 maritime labor inspections aboard both domestic and international service vessels.

Looking ahead to the remainder of 2025, the PMA reaffirms its commitment to the rigorous enforcement of national regulations and international conventions ratified by Panama, including the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW), as amended, and the Maritime Labour Convention, 2006, as amended (MLC 2006).

Steve Trowsdale, ITF Inspectorate Coordinator, commended Panama’s efforts—particularly its management of labor complaints and the recovery of owed wages. He emphasized the productive nature of the dialogue, noting the value of exchanging perspectives and identifying areas for improvement, all in pursuit of a shared goal: safeguarding the rights and welfare of seafarers.

The ITF delegation also included Edgar Ortiz, ITF Regional Secretary for the Americas; Vladimir Small Ortiz, ITF National Coordinator and member of the Union of Marine Engineers (UIM); and Bernardo Campos, retired UIM member. The group was welcomed by senior officials from the DGGM.

This engagement highlights the importance of sustained collaboration between the PMA and ITF in ensuring fair treatment and proper working conditions for seafarers—with a particular emphasis on the timely resolution of wage claims and labor disputes.

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On the occasion of the Presidency of Greece, the UN Security Council convened a high-level open debate on the theme of “Strengthening Maritime Security through International Cooperation for Global Stability”, in the Security Council Chamber at UN Headquarters, on May 20.

The debate was chaired by H.E. Kyriakos Mitsotakis, Prime Minister of Greece & the briefers were Mr. António Guterres, UN Secretary-General, Ms. Melina Travlos, President of the UGS, & Mr. Christian Bueger, Professor of International Relations at the University of Copenhagen & a research fellow at UNIDIR.

In a historic address - to both the Greek & global shipping-, Ms Melina Travlos placed the true gravity of maritime security at the forefront of the debate. Speaking immediately after the UN Secretary-General, she issued a universal call for unity & cooperation, embodying the spirit of the United Nations in its truest form, standing together, not just in name but in purpose. She also emphasized the need to collectively defend freedom of navigation, as a shared global responsibility & a cornerstone of peace and humanity.

The head of the United Nations told the Security Council that the “basic condition” for preserving maritime security is that all States respect international law, following which speakers in a day-long debate urged cooperation to address common challenges in this domain.

“Without maritime security, there can be no global security,” said António Guterres, Secretary-General of the United Nations.  Yet, the world’s oceans are increasingly under strain from threats both traditional and emerging — challenges around contested boundaries, depletion of maritime resources, escalating geopolitical tensions — and “no region is spared”, he stressed.  “And the problem is getting worse,” he added, spotlighting Houthi attacks on commercial vessels in the Red Sea, trafficking in the Gulf of Aden and the Mediterranean Sea and myriad crime in the Gulf of Guinea.

“Facing these and other threats, the world’s maritime routes and the people depending on them are sending a clear ‘SOS’,” he said, urging action in “three key areas” — respecting international law, addressing the root causes of maritime insecurity and creating “partnerships at all levels”.  Pointing out that the upcoming 2025 UN Ocean Conference in Nice, France, will “provide an important moment for the countries of the world to take action”, he underscored: “As threats to maritime security are becoming more complex and interconnected, enhanced coordination and stronger maritime governance are essential.”

Next, Melina N. Travlos, President of the Union of Greek Shipowners and Chair of the Board of the Neptune Group of Companies, said that Greek shipping accounts for over 20 per cent of the global — and 61 per cent of the European Union’s — fleet.  She also noted that more than 12 billion tons of goods are transported around the world each year.  “In the COVID-19 pandemic, when all other sectors shut down, we kept supply chains alive, delivering the medicines and goods that people needed,” she emphasized.  And in humanitarian crises such as mass migration, vessels regularly participate in rescue operations.

However, she warned that shipping is increasingly being weaponized.  “Piracy is evolving — not retreating,” she stated.  In 2024, 116 incidents were reported — representing a 35 per cent increase from 2023 — and organized crime, as well as trafficking in drugs and persons, are growing threats alongside cyberwarfare. Stressing that a single cyberattack can disrupt vessel operations or trigger environmental disasters, she called for a global commitment to keep maritime security a top priority and a standing policy issue in the United Nations.  “We must shift from reaction to prevention, from crisis response to crisis readiness,” she urged.

Yet, Christian Bueger, Professor at the University of Copenhagen and Research Fellow at the United Nations Institute for Disarmament Research (UNIDIR), pointed out that the Council has been confronting these issues in an ad-hoc manner.  “There are no sustained efforts to address maritime security systematically,” he said, and many emerging issues lack adequate attention as a result.  For example, “blue crimes” — such as piracy and smuggling — persist, undermining regional stability.  “The resurgence of piracy off the coast of Somalia — previously thought to be contained — serves as an important reminder that our efforts in combating crimes at sea must be sustainable,” he said.
Also requiring sustained, systematic attention, he stressed, are the proliferation of autonomous weapons systems, naval mines, maritime cybersecurity threats, substandard shipping linked to sanctions evasion and the need to protect critical maritime infrastructure.  And despite the need for evidence-based decision-making, global data on evolving maritime security threats is lacking.  Adding that “there is no global strategy and no coordination instrument in place”, he called on the Council to “chart a course” towards systematic, evidence-based and coordinated maritime-security governance, observing: “As the waters that connect us face growing threats, our response must be equally connected.”

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INTERCARGO, the International Association of Dry Cargo Shipowners, convened in Guangzhou for its semi-annual meetings, the first time the Association has held such an event in China.

The meetings, hosted by COSCO Shipping Bulk, brought together members from across the globe for two days of dialogue and decision-making. Senior representatives gathered to discuss pressing issues the dry bulk sector is facing, including the evolving regulatory landscape, operational performance, and the industry’s sustainability.
Particular focus was given to greenhouse gas emissions and the implications of recent developments at the IMO, along with the European Union’s emissions trading regime and FuelEU framework. Members also examined operational safety, digitalisation, cyber risks, terminal operations, and the growing complexity of ship-recycling requirements. Throughout the meetings, there was strong engagement with INTERCARGO’s strategic initiatives, including the Dry Bulk Management Standard (DryBMS) administered by the Dry Bulk Centre of Excellence, and the work of the Association’s Quality Panels focusing on vetting and port compliance issues.

While there was reaffirmed support for the IMO’s environmental goals and path to net zero, the need for pragmatic application of regulations remained a key theme.

Speaking after the meetings, INTERCARGO Chairman John Xylas said: “Our meetings in Guangzhou have taken place at a time of great complexity for dry bulk shipping. Sustainability, environmental compliance, digitalisation and safety remain at the forefront of our agenda. These discussions provided an essential forum for members to share knowledge, align on priorities and reinforce our collaborative approach.”

The Association also confirmed a number of admissions of new members, as it continues to grow, and announced that its next meeting will take place in Athens from 2 to 4 November 2025.

About INTERCARGO

International shipping is vital for the global economy and prosperity as it transports approximately 90% of world trade. The dry bulk sector is the largest shipping sector in terms of number of ships and deadweight. Dry bulk carriers account for 43% of the world fleet (in tonnage) and carry an estimated 55% of the global transport work.
The International Association of Dry Cargo Shipowners (INTERCARGO) unites and promotes quality dry bulk shipping, bringing together more than 280 forward thinking companies from 30 countries. INTERCARGO convened for the first time in 1980 in London and has been participating with consultative status at the International Maritime Organization (IMO) since 1993. INTERCARGO provides the forum where dry bulk shipowners, managers and operators are informed about, discuss, and share concerns on key topics and regulatory challenges, especially in relation to safety, security, the environment, and operational excellence. The Association promotes its members’ positions to IMO, as well as to other shipping and international industry fora, having free and fair competition as a principle.
Captions: INTERCARGO’s semi-annual meetings in Guangzhou, China

Credits: INTERCARGO

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