Polys Hajioannou, CEO, Chairman and Director of Safe Bulkers, Inc. & Vice President – Cyprus Union of Shipowners & H.E. Nikos Christodoulides, President of the Republic of Cyprus rang the Closing Bell at the New York Stock Exchange held in conjunction with the “3rd Capital Link Cyprus Business Forum”

Within the context of the “3rd Capital Link Cyprus Business Forum”, the New York Stock Exchange organized a special ceremony in honor of Cyprus with the cooperation of Safe Bulkers, Inc., which is listed on NYSE (NYSE: SB). Mr. Polys Hajioannou, CEO, Chairman and Director of Safe Bulkers, Inc. with the President of the Republic of Cyprus H.E. Nikos Christodoulides, along with members of the Cypriot government and other distinguished members of the business community, rang the “Closing Bell” on Friday, April 4, 2025. The New York Stock Exchange (NYSE) flew the Cypriot flag together with the US and Safe Bulkers flags, on Wall Street and issued special commemorative medals for the occasion. Welcome remarks were given by Mr. Chris Taylor, Chief Development Officer, NYSE. Mr. Polys Hajioannou, CEO, Chairman and Chief Executive Officer - Safe Bulkers, Inc. “We are proud to celebrate, the ten-year relocation of our headquarters in the Republic of Cyprus by ringing together with H.E. President Christodoulides the closing bell at New York Stock Exchange within the context of the 3rd Capital Link Cyprus Business Forum, taking place Friday, April 4th, 2025, at the Metropolitan Club in New York City.” The Closing Bell ceremony was attended by: Mr. Polys Hajioannou, CEO, Chairman & Director - Safe Bulkers (NYSE: SB) ; Vice President - Cyprus Union of Shipowners, H.E. Nikos Christodoulides, President - Republic of Cyprus, H.E. Giorgos Papanastasiou, Minister of Energy, Commerce & Industry - Republic of Cyprus, H.E. Marina Hadjimanolis, Shipping Deputy Minister to the President - Republic of Cyprus, H.E. Nicodemos Damianou, Deputy Minister of Research, Innovation & Digital Policy - Republic of Cyprus, Ms. Irene Piki, Deputy Minister to the President - Republic of Cyprus, H.E. Evangelos Savva, Ambassador of Cyprus to the United States - Republic of Cyprus, Dr. Chris Patsalides, Governor -Central Bank of Cyprus, Mr. Michalis Louis, CEO - Hellenic Bank, Dr. Loukas Barmparis President - Safe Bulkers Inc., Mr. Konstantinos Adamopoulos, Chief Financial Officer - Safe Bulkers Inc., Mr. Christos Megalou, Director - Safe Bulkers Inc, Mrs. Marina Hajioannou, Director - Safe Bulkers Inc., Mrs. Maria Hajioannou, ESG Executive - Alassia Newships Management Inc., Mr. Vasilis Hajioannou - Safe Bulkers Inc. and Ms. Stalo Hajioannou - Safe Bulkers Inc., Mr. Nicolas Bornozis, President & CEO - Capital Link Inc., Mrs. Olga Bornozi, Managing Director – Capital Link Inc., and other distinguished members of the business community. The event was broadcasted live on major news stations in the United States and abroad to an audience of millions of viewers worldwide. More than 150 million people watch the NYSE Bell Ceremonies.

The 3rd Capital Link Cyprus Business Forum is organized in cooperation with the Cyprus Union of Shipowners and supported by Invest Cyprus and the Deputy Shipping Ministry of the Republic of Cyprus. This premier forum aimed to foster an open dialogue on Cyprus’s business and investment landscape, highlighting its openness and competitiveness on the global stage.

Safe Bulkers, Inc. is a Grand sponsor of this forum and graciously hosted the Dinner Reception honoring H.E. Nikos Christodoulides, the evening preceding the event.

Dinner Reception 

An unforgettable reception was held at the prelude to the 3rd Capital Link Cyprus Business Forum thanks to Mr. Polys Hajioannou, CEO, President and Director of Safe Bulkers, Inc. - Vice President – ​​Cyprus Union of Shipowners.

Safe Bulkers, Inc., a Major Sponsor of this forum graciously hosted the Dinner Reception in honor of H.E. Nikos Christodoulides on the evening of April 3^rd 2025 preceding the event.

A distinguished gathering of industry leaders and professionals joined the event as part of the upcoming 3rd Capital Link Cyprus Business Forum. The prominent guests, H.E. Nikos Christodoulides, President of the Republic of Cyprus, together with Ministers George Papanastasiou, Marina Hadjimanolis and Nikodimos Damianou, set the stage for an insightful dialogue on Cyprus’ thriving business and investment landscape looking forward to the insightful discussions that will shape the future of investment in Cyprus.

The 3rd Capital Link Cyprus Business Forum is organised in collaboration with the Cyprus Shipowners’ Association and supported by Invest Cyprus and the Deputy Ministry of Shipping of the Republic of Cyprus. The forum aimed to foster an open dialogue on Cyprus’ business and investment landscape, highlighting an extroversion and competitiveness on the global stage.

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20 years ago, Diana Shipping Inc. became one of the first dry bulk shipping companies to list in the U.S., seizing an opportunity at a pivotal time in global trade. On April 1st, we honored this important milestone by ringing the Closing Bell at the New York Stock Exchange—commemorating two decades of commitment to excellence, performance, and industry leadership.

Since our 2005 listing, we have remained true to our values, navigating market cycles with discipline, operational integrity, and a long-term perspective. Our journey has been shaped by a clear vision and strong foundation, making Diana Shipping a reliable and trusted name in the global shipping industry.

Growth, Resilience & Vision have defined every step of our evolution—from pioneering beginnings to a position of strength within the industry.

Semiramis Paliou, CEO of Diana Shipping, reflected on the importance of resilience: “The shipping market is cyclical, and you must always be prepared for the lean years. In this industry, those who endure the longest are the ones who can truly seize the opportunities ahead.”

Now, 20 years strong, we are deeply grateful—for the journey we’ve taken, the challenges that shaped us, and the people who made it all possible: our dedicated team, trusted partners, and valued shareholders.
By ringing the Closing Bell at NYSE, we not only celebrated our past but reaffirmed our commitment to the future—with clarity, confidence, and purpose.

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The energy transition and the digital transformation in shipping creates a new educational environment of the maritime education that comprises design, management and control of the educational process in an innovation environment with the help of management tools – entrepreneurial hubs, active interactions and talent management of the organization.

With the aim to explore the potential of new technologies in the marine training field Newsfront/Naftiliaki and Martecma organized the Greener Shipping Summit which took place at the Eugenides Foundation.

Conference Chairman was George Kriezis, Technical Director, Neptune Lines Shipping; Neptune Dry Management and Keynote speaker: Dimitris Fafalios, Secretary of the BoD, Union of Greek Shipowners; President / Director, Fafalios Shipping; Honorary Chairman, INTERCARGO.

The first topic was about Enhancing Maritime Education for Next Generation Seafarers.

Moderator: Takis Koutris, Managing Director, Roxana Shipping SA

The following Panelists discussed the topic:

• • Alexandros Arampatzoglou, Vetting Manager, Latsco Marine Management Inc
• • Dimitris Fokas, Training Manager, Angelicoussis Shipping Group; Chairman of Human Element Committee, INTERTANKO
• • Venetia Kallipolitou, Cross Departmental HR & Training Manager, Tsakos Group
• • Woosung KIL, Principal Surveyor, AI Convergence Center, R&D Division, KR (Korean Register)
• • Katerina Palla, Head of Global Marine Training, RINA
• • Constantinos Triantafillou, Head of Strategy & Development, HELMEPA

The speakers discussed the following topics:

• • e-learning engagements and simulators, an update on: e-learning platforms, virtual reality, simulators and cloud simulators, the role of artificial intelligence in service of learning engagements
• • How the above learning techniques will be applied to enhance education on future technologies, like low emissions technologies and equipment, alternative fuels, carbon capture
• • How soft competence will contribute to bridge the gap of inadequate hard competence (knowledge and experience)
• • Personnel assessment: The importance of accessing the effectiveness of learning process, Methods and tips for assessment, available tools and platforms
• • SIRE 2.0: Focusing on Human Element | Training needs that may arise through inspiration results.

The next session of the forum was about the Collaboration between academia and equipment makers-builders, class societies and operators.

Moderator was Fotis Belexis, Technical Director, Star Bulk Carriers Corp

Panelists:

• • Maria Bertzeletou, Market Analyst, The Signal Group
• • Stefanos Chatzinikolaou, Assistant Professor, Ship Technology, Department of Maritime Studies, University of Piraeus
• • Christos Hadjigeorgiou, Managing Director, Almi Marine Management SA
• • Jennifer Harrison, Vice President, Training Solutions, ABS
• • Stylianos Pappas, Professor, Head of Automation Control Systems, School of Engineering, Merchant Marine Academy of Aspropyrgos
• • Nicholas Tsouvalis, Professor, Director of Shipbuilding Technology Laboratory, School of Naval Architecture and Marine Engineering, NTUA.

The speakers discussed the following issues:

• • Discuss and define how the academia can help in the development and handling of new technology. What is the current experience?
• • Building bridges between theoretical education and practical experience
• • The role of apprenticeship and internship
• • Encouraging practical partnerships between research, innovations and education
• • The role of class societies and IACS in the newly emerging technology world.

The last topic of the forum was about the Reshaping the Training Needs.

Moderator was Stavros Hatzigrigoris, Advanced Engineering Services; Zodiac Maritime.

Panelists: • Andrea Capuani, Chief Commercial Officer, Vanzetti Engineering

• • John Kokarakis, Technical Director SEEBA Zone, Bureau Veritas
• • Natassa Kouvertari, Senior Lead – Human Competency, Lloyd's Register
• • Marina Papaioannou, Regional Maritime Academies Manager, Region South East Europe, DNV
• • Spyros Vlassopoulos, Managing Director, Ionic Group

The speakers discussed the following topics:

• • Describing the new technology in shipping, advanced automation and control, new fuels, new engines, reducing risks and enhancing safety
• • Redefining roles and responsibilities in a new technology driven maritime world and ensuring the operators and officers / seafarers onboard are properly prepared
• • The role of artificial intelligence in equipment design and integration, focusing on navigation, cargo handling, machinery operation and condition based maintenance
• • Defining smart ships, real-time monitoring and remote operation: An option or a future rule requirement?
• • Cyber security issues and developments. Relay on technological guard systems and educating stakeholders on maintaining secure data environments
• • Machine learning and digital twins.

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The NAVIGATOR ASSEMBLY, titled #TimelessSeas #NewPaths, the prelude to the 24th NAVIGATOR 2025 – The Shipping Decision Makers Forum, took place on Thursday, the 20^th of March 2025, at the Grand Hyatt Athens. The event brought together over 300 executives from the maritime industry, representing 165 ship-owning companies and maritime service providers. Distinguished representatives such as the ambassador of the UK and Luxembourg were among our prestige guests, including embassy representatives from the United States, China, Japan, Italy, Lithuania, Hungary and Portugal. 

For one more year, 30 maritime organizations, associations and leading educational institutions alongside Manolis Koutoulakis, the Secretary General of the Aegean and Island Policy ministry, and George Alexandratos, the President of the Hellenic Chamber of Shipping, discussed the current main challenges the maritime sector is facing. The future of the maritime industry will be shaped by a combination of factors, including decarbonization, human resources, technological advancements, regulatory frameworks, and geopolitical developments. Geopolitical uncertainty, technological transformation, and innovation will play pivotal roles in driving a sustainable and competitive maritime future. Geopolitical developments, such as ongoing conflicts, new trade policies, and targeted sanctions, significantly impact global shipping by reshaping commercial routes and influencing transportation costs. Strengthening maritime security, diversifying supply chains, and developing new trade corridors—such as the Indo-Middle East-European Corridor (IMEC)—will be crucial in addressing these challenges. Moreover, China’s dominance in shipbuilding and port operations continues to influence the global trade balance, underscoring the interconnectedness of the maritime industry.

Shipping, with its long history of self-regulation and adaptation, is well-positioned to meet the growing demand for decarbonization. However, the subjectivity of decarbonization and the ongoing uncertainty regarding future bunker types create challenges for the industry. Additionally, the tax-like nature of various regulatory decarbonization frameworks remains a point of contention. The Environmental, Social, and Governance (ESG) reporting framework will increasingly affect shipping companies, particularly as regulations evolve under the European Sustainability Reporting Standards (ESRS). While smaller shipping companies may benefit from simpler reporting frameworks, the International Maritime Organization (IMO) remains the primary driver of ESG-related changes, though no significant shifts in their agenda for shipping have occurred yet.

Attracting young talent and offering clear career paths will become increasingly vital. The new generation of workers brings different expectations about work-life balance, which may create a generational gap. While digital communication enables seafarers to stay connected with loved ones, it also contributes to increased isolation among crew members, further highlighting the need to address these concerns. Comprehensive education, lifelong training, stakeholder collaboration, and strategic planning will be essential to ensure a resilient, efficient, and sustainable maritime sector.

The future seafarer will require specialized skills to operate vessels with increasing automation and the use of alternative fuels. Technology, particularly digital transformation, will continue to reshape the maritime sector. Both shipping companies and technology providers agree on the importance of ensuring safe operations and bolstering cybersecurity, with Artificial Intelligence (AI) playing a key role in enhancing productivity.

However, challenges such as “digital fatigue,” the need for a shift in management mindset, data standardization, and the demand for more practical solutions from technology providers remain. To maximize efficiency, automation and AI will be crucial, but regulators must establish clear timelines and roadmaps to guide the transition.

Finally, while new digital technologies hold immense potential for the future of shipping, addressing the generational gap, ensuring the well-being of seafarers, and overcoming technological hurdles will be essential to creating a sustainable and thriving maritime industry.

In a rapidly evolving world, the shipping industry is navigating unprecedented technological, geopolitical, and environmental challenges. The path forward lies in fostering collaboration among stakeholders, embracing innovation, and keeping the human element at the heart of all we do. Danae Bezantakou, CEO of NAVIGATOR SHIPPING CONSULTANTS, emphasized that the NAVIGATOR ASSEMBLY 2025 reaffirmed the company’s unwavering commitment to shaping a sustainable, resilient, and future-ready maritime ecosystem.

The success of NAVIGATOR ASSEMBLY 2025 highlights NAVIGATOR SHIPPING CONSULTANTS' dedication to fostering synergies, dialogue, and innovation within the maritime industry. The key takeaways will be further explored at the 24th NAVIGATOR 2025 – THE SHIPPING DECISION MAKERS FORUM, scheduled for Tuesday, November 11, 2025, at the Lighthouse of the Stavros Niarchos Foundation Cultural Center.

Sponsors: A GENERAL GROUP, AKEREON, ANTIPOLLUTION, AUSTRIACARD HOLDINGS, BENEFIT, CCS, COLUMBIA GROUP, CMA ARGOUDELIS, CROSSWORLD,  CYGNUS, DEEPSEA TECHNOLOGIES, DIAPLOUS, DNV, DYNAMIC GROUP, EMBASSY OF PANAMA, ERNST & YOUNG, FORTUNE TECHNOLOGIES, FRANMAN, FURUNO, GOLDEN CARGO, HILL DICKINSON, INMARTEK, KPMG, LG MAR, MARICHEM MARIGASES, MOORE, NAFTOSOL, NEREUS, OCEANKING, ORIANI, PALAU INTERNATIONAL SHIP REGISTRY, PPG,  POLYGREEN, SEKAVIN, SHIPMONEY, SYNTHETICA, THE AMERICAN P&I CLUB, THE MARSHALL ISLANDS REGISTRY, TIMAGENIS LAW, TOTOTHEO MARITIME, UK P&I, VSHIPS, WARTSILA.

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HEMEXPO, a leading marine equipment manufacturers and exporters association for the international shipping industry, has joined the EU HORIZON Innovation Action project entitled “Sustainable Emission Abatement Strategies & Technologies for Advanced Revolution Ships” (SEASTARS).

The groundbreaking initiative aims to achieve a minimum 30% reduction in well-to-wake greenhouse gas (GHG) emissions by 2030 (compared to 2008 levels) and a 20% increase in energy efficiency (compared to 2022), creating a global maritime decarbonisation landscape and supporting the European Commission’s proposed Fit-for-55 targets.

With EU and global regulators expanding the scope of mandatory measures to drive maritime decarbonization, SEASTARS will provide shipowners with market-ready solutions for retrofitting and newbuilds across the inland, short-sea, and high-seas sectors.

By leveraging Model-Based Systems Engineering (MBSE), SEASTARS enables shipowners to implement flexible, modular and scalable decarbonization strategies with low investment risks while ensuring compliance with evolving regulations.

The project integrates cutting-edge efficiency and emissions-reduction technologies, including:
Hydrodynamic Enhancements: Propeller-hull optimization, air lubrication systems.

• Machinery Innovations:Fuel cells, electric motors, integrated solar panels, wind-assisted propulsion, electrochemical storage.
• Alternative Fuels & Energy Systems:Biofuels, hydrogen, methanol, LNG, ammonia, fuel reforming, CCS (carbon capture & storage).

As part of its role within the consortium, HEMEXPO will lead design thinking workshops to align technological advancements with the real-world needs of shipowners, shipbuilders, maritime technology providers and operators. These workshops will focus on practical, scalable decarbonization solutions that support a smooth transition to greener shipping.

Christos Papakis, Executive Director of HEMEXPO, said, “The project is a major step forward in making decarbonization solutions available to the sector. It reinforces HEMEXPO’s commitment to innovation by working closely with maritime stakeholders to develop technologies that reduce emissions, improve efficiency, and drive a more sustainable future for global shipping.”

About HEMEXPO: HEMEXPO – Hellenic Marine Equipment Manufacturers and Exports – is a leading suppliers and exporters association for the shipping sector, representing Greek maritime technology specialists worldwide since 2014.

HEMEXPO brings together Greek companies that manufacture and export a comprehensive range of world class marine equipment and technical services used in the construction, conversion, maintenance and upgrading of ships and other marine structures.

Image: Christos Papakis, Executive Director of HEMEXPO

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Tatham & Co and Sea Green Law, two leading specialist maritime law firms in the UK, are merging to create a 22 lawyer practice, and a stronger version of themselves.  

The combined entity began operating on 1 April 2025 under the Tatham & Co name, will be jointly led by lead Partners Stephen Askins and James Hickland from Tatham & Co, and Ted Graham from Sea Green Law.

By combining their expertise and resources and building on the success of the two firms, the expanded Tatham & Co will have the capacity and capabilities to handle a greater number of larger cases on the contentious side, alongside providing a wider range of expertise to their client base. It will enhance the firm’s dry shipping and sale of goods capability, whilst complimenting Tatham & Co’s existing admiralty team. Partners from both firms know each other well, having worked together for many years previously, share similar values, visions and culture and are well adapted to continue to serve the maritime law sector.

“For the past six years, Sea Green Law has grown steadily and we have been very successful, whilst maintaining work life balance. But the young lawyers want to work in London and we are excited about being back in the heart of one of maritime’s most important cities,” said Ted Graham.

“We are delighted that Sea Green have agreed that the time is now right for us to join forces and take our combined maritime law expertise to the next stage. Ted and his entire team are incredibly well respected in the market. The merger creates synergies and efficiencies which will benefit both clients and the firm itself. Having them on board gives us more depth and resilience in an increasingly competitive sector,” said Stephen Askins.

Tatham & Co began trading in 2019, has offices in London and Piraeus, and a worldwide client base.

Caption: Stephen Askins, Partner, Tatham & Co

Caption: James Hickland, Partner, Tatham & Co

Caption: Ted Graham, Director, Sea Green Law

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A highly productive and insightful technical meeting was recently held in the Athens Marriott, bringing together Hyundai Electric and Oceanking to showcase Hyundai Electric’s latest innovations in marine technology. The event introduced cutting-edge solutions designed to enhance energy efficiency, reduce emissions, and support the maritime industry’s shift toward sustainable operations.

The meeting highlighted three major technological advancements: the Shaft Generator, the Intelligent Motor Control Unit (IMCU), and the Intelligent Preventive Diagnosis System (Hi-PDS).

“We are very proud to have been working together for over 15 years, having established a strong cooperation and relationship,” said Ms Carola Yannouli, OCEANKING General Manager. “With the mutual efforts of Oceanking and the Hyundai Electric team, we have today over 500 Greek ships with HDE products onboard”.

Hyundai Electric continues to leverage their vast experience in advanced diesel and gas engine technologies to support the evolving needs of global shipping. With increasing environmental regulations shaping the future of the industry, the event underscored the importance of innovative, compliant technologies. Hyundai Electric is responding with robust investments in state-of-the-art systems that not only meet current standards but also anticipate future demands. A key highlight of the event was the presentation of the Shaft Generator, a solution enabling onboard power generation with significantly reduced environmental impact. This technology helps minimize emissions and lower operational costs, aligning with the industry’s dual goals of sustainability and economic efficiency. The system features include:

- Reduced fuel consumption and operational costs

- Lower noise levels and vibration

- Decreased carbon emissions

- High operational efficiency

To date, the Shaft Generator has been installed on 67 vessels.

Also unveiled were the Intelligent Motor Control Unit (IMCU) and the Intelligent Preventive Diagnosis System (Hi-PDS). These smart systems integrate state of the art software to extend the life of electric equipment onboard and reduce maintenance requirements. They ensure optimal motor performance while minimizing energy usage, helping shipowners maintain reliable, efficient operations.

The event concluded with an overview of HD Hyundai Electric’s operations in China, which mirror the quality and certification standards of the company’s Korean headquarters. This expansion supports the growing demand within the Chinese newbuilding market.

Oceanking remains committed to delivering solutions that meet the challenges of a rapidly changing maritime landscape.

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A business trip that reflects the extroversion and cooperative spirit of Greek ship-repairing, trading and manufacturing of ship equipment 

With the aim to share technical experience and maritime culture the Hellenic Maritime Club of Hamburg organised a one-day workshop on the challenges of shipping.

In his opening speech the president of HMCH Capt. Dimokratis Tatanis referred to the scope of the Club which is to strengthening the bonds between Greeks that work in the maritime cluster of Hamburg.

Danaos Diaplous Uteco and WIMA were the sponsors of the event.

In his presentation the managing director of Danaos Management Dimitris Theodosiou presented the issue of “The Challenge of AI in Shipping ERP". He told that AI Danaos platform can provide email automation, AI assistance, large language models incorporating with the company’s documentation.

The system can dictate employees if they achieve the goals of the company.

It must be noticed that Danaos is 39 years in shipping with 12 offices around the world and 650 customers worldwide. The strategy is to achieve integration using big data analytics and performance models developing numerous modules that cover all spectrum of maritime operations like crew management technical support training and other activities.

Diaplous’ Angelos Lazaridis and Nikos Georgopoulos discussed the topic of "Key Take away from Experience in the Middle East Region". They commented on Houthi’s’ attacks in the Red Sea and the ability to continue the terrorist activity in the future. The capabilities are still there and Houthis will probably continue to threaten the maritime trade in the region.

Next presentation was made by Psyctotherm’s Stamatis Zissis who referred to the topic of "Refrigerants in Shipping: F-Gas Regulations and Future Alternatives / Waste Heat Recovery with Organic Rankine Cycle (ORC): Maximizing Fuel Efficiency & IMO Compliance".

The speaker elaborated on ORC technology and presented the benefits of the system such as energy efficiency and cost savings. He also referred to the history of refrigeration in shipping. 

SQ Learn’s Thanassis Bourlios referred to the issue of "Choosing the Right Training for Regulatory Compliance". The speaker said that for SQ Learn compliance means safety, sustainability and operational excellence. 

The company has an extensive online library based on STCW standards providing training solutions for any kind of vessel. He also referred to tailored training for vetting preparation and Rightship inspections. 

More specifically Mr Bourlios presented the Vetti app. an innovative software for vetting inspections and CaptAIn a revolutionary learning aid to optimize training and skills development in the maritime sector.

Concluding focused on SqLearn’s strengths such as internationally approved by most flags, training available onboard 24/7, support via emails and chats and many others.

Uteco’s George Paradisis presented the topic of “Sensors - Cables - Automation / Technical Solution Partners Network". Uteco is involved in marine automation for more than 50 years and is a market leader in Greece in all kind of sensors and instrumentation for various types of vessels. The speaker presented a great variety of sensors measuring flow temperature level pressure etc. 

Uteco represents an extensive range of brands in marine instrumentation covering a wide range of applications. Finally, Uteco is also involved in electrification and renewable energy.

The event was concluded with WIMA’s "Overview of its Members Companies", address of Elias Hajiefremidis president of WIMA and introduction of all WIMA members.

He said that WIMA reflects the strength of cooperation between a network of certified companies that cover all the needs of a shipping company from the acquisition, maintenance and the demolition of ship.

Finally he referred to WIMA’s milestones especially to various joint projects that were delivered during the last years such as the refits of passenger vessel “Amet majesty”, Ropax vessels “Pantokrator” “Elysian” “Sunny” “Corse” and many more.

The event took place at The Westin Hamburg and on the 2nd day of the business trip in Hamburg the members of WIMA had the chance to visit two shipyards Emden shipyard and dock GmbH and Fassmer GmbH & Co. KG. which are located 2:30-3 hours far from Hamburg.

Emden Shipyard

It is one of the largest shipyards in Germany for the construction of warships and the repair of merchant ships. Until 2005 it was robust employing more than 6,000 workers but faced significant financial difficulties and for a period of time it ceased operations.

It should be noted that it has built the world's largest dreger vessel.

Today it operates under the regime of leasing its premises and facilities with 150 permanent employees and is engaged in the conversion of warships, the construction of docks, the construction of wind generators and piers for canals and other special projects. For 2025 it is fully booked and operates one Drydock and two floating docks.

Meyer Werft

This shipyard is impressive. Three large cruise ships are being built and it is fully booked until 2034 booked. It also builds warships and special mission vessels as well as oil platforms.

This shipyard faced serious financial problems due to covid pandemic, however it was subsidized by the state and today operates successfully, looking to the future with optimism.

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Evangelos Marinakis, Founder & Chairman of Capital Maritime & Trading Corp., delivered KEYNOTE REMARKS at the Official Luncheon that was held in the context of the 19th Annual Capital Link International Shipping Forum, on Monday March 31, 2025 at the Metropolitan Club in New York City. The Forum was held in cooperation with New York Stock Exchange - NYSE and Nasdaq. 

Mr. Chris Taylor, Chief Development Officer – NYSE GROUP, delivered Introductory Remarks. 

Mr. Evangelos Marinakis, Founder & Chairman - Capital Maritime & Trading Corp., stated: “I'm happy to be here today with all of you. I saw many friends whom I hadn’t seen in quite some time—friends with whom we started out, let’s say, back in the early '90s. So, it was a pleasant surprise to see them again and to see that they’re still strong, healthy, and doing well in business. Since the U.S. elections and the beginning of Mr. Trump’s administration in January, we’ve seen many changes—numerous announcements and discussions on various global matters—which have made our lives more complicated, but at the same time, much more interesting. In shipping, we often benefit from geopolitical events. When there’s uncertainty, I believe that, at the end of the day, it tends to work in shipping’s favor—perhaps in the short term, but also, in the long term, we often see benefits. 

Of course, it all depends on how entrepreneurs react—how they analyze the situation and form a strategy. 

In my opinion, we’ll face many challenges ahead, especially regarding tariffs. The current discussions we’re following are no longer limited to China; now there are tariffs affecting the EU and other countries as well. 

All of this has a direct impact on shipping, because it affects the transportation of goods. In the short term, I expect a negative impact, but I don’t believe such restrictions are sustainable in the long run.

Another issue that concerns us is the future of Chinese-built tonnage. We're not only talking about vessels owned by Chinese companies. In the last 10 to 15 years, due to the way the shipbuilding industry has developed, shipowners often had no choice but to consider building in China—for three main reasons: first, due to the capacity; second, because of competitive pricing; and third, because Chinese shipyards have improved their quality significantly. In many cases, their standards are approaching those of Korean or even Japanese yards. As a result, a large number of ships—owned by both listed and private companies worldwide—have been built in China. 

Currently, we’re seeing charterers—even in short or period charter negotiations—trying to avoid Chinese-built tonnage. Some do this to negotiate better rates; others are genuinely concerned about the risks, particularly when cargoes are being transported in and out of the United States. They simply don’t want to take the risk. If this trend continues, we will end up with a two-tier market, and ultimately, the consumer will bear the cost. Delivered commodity prices will rise, especially for goods entering or leaving the U.S. on non-Chinese-built vessels. I believe this situation could last longer than any of us would like to think. 

On the other hand, the economic situation in Europe is not looking good. We anticipate a recession. There were similar predictions even before COVID, but due to the pandemic and the past five years—which flew by quickly—this recession was postponed. In fact, several industries, including shipping, saw record profits during that time, particularly in the container and dry cargo sectors. Rates soared, and we witnessed extraordinary market conditions.

The Russia-Ukraine war also affected the tanker market, pushing freight rates to exceptionally high levels. The market was very strong for a time. Then came the conflict between Israel and Palestine, along with disruptions in the Suez Canal—which had a real impact on our business and on freight rates. At the same time, the Panama Canal faced its own issues with draught restrictions. For the first time in history, both canals were not fully operational at the same time. This pushed rates higher, but this advantage won’t last forever. Eventually, these factors will normalize. Our strategy going forward is to continue modernizing our fleet while staying highly aware of emissions, environmental concerns, and the latest IMO regulations. Even though the Trump administration may not push ahead with environmental regulations in the U.S., we remain committed to reducing emissions and being environmentally conscious. We pay a premium to build eco-friendly and dual-fuel ships. For a while, there will be a transitional phase where we use less-polluting energy sources, even though we haven’t yet seen charterers, oil majors, or liner companies paying a premium for these vessels. Still, we’ve expanded our newbuilding program with dual-fuel technology in container ships. We take a long-term view and believe it will pay off. 

The key is to remain financially strong so we can withstand market cycles. Eventually—especially in Europe—environmental regulations will move forward, and dual-fuel LNG vessels will offer clear advantages in terms of both emissions and cost, particularly when the Russia-Ukraine war ends. We hope that will happen soon—possibly within the year. When gas prices fall, using LNG will become significantly more cost-effective—not only from an environmental standpoint, but also financially, due to lower fuel consumption. 

Things we thought could never happen—such as tensions with China, Russia, or the Israel-Palestine conflict—are happening. The years ahead will be very interesting. I believe that, ultimately, these developments will benefit shipping and our companies. In the short term, we may have to endure some pain and wait for normalization. But once again, I say: all this volatility and all these geopolitical changes tend to support our industry in the long run. Regarding the European economy, I said three years ago—when the Russia-Ukraine war began—that the EU sanctions strategy would backfire. In the end, it was the European citizen who paid the price. 

Russian oil continued to be exported to China and India at deep discounts. Meanwhile, European countries bought refined products from those same refineries at record-high prices. 

So, despite the sanctions, Russia actually received more income than before, while Indian and Chinese refineries enjoyed record profits. And it was the European consumer who footed the bill. 

This is one of the reasons I believe a recession in Europe is now unavoidable. I also think the Trump administration is taking the right approach toward the Russia-Ukraine war. In the last three years, Europe has made no serious effort to stop this war. Innocent people—especially children—are dying. And after three years, there is no justification for this to continue. It’s senseless, and it must stop. 

These are my personal views on the economic outlook in Europe and the future of shipping. What I wish for everyone here today is to remain strong and healthy. Because when you are strong and healthy, you can navigate crises and embrace daily challenges. In the end, we all try to do our best—for our companies, our shareholders, and the future.

Thank you very much.”

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

On March 28th, at the Yacht Club of Greece, The Propeller Club Port of Piraeus hosted a business luncheon celebrating the strong maritime ties between Greece and Japan.

Guest of honor and keynote speaker was H.E. Koichi Ito, Ambassador of Japan to Greece. General Secretary Christos Timagenis welcomed the guests and moderated the event while President Costis Frangoulis took the floor first, with his address.

John Inglessis, President of Samos Steamship, shared his experience from decades of collaboration with Japanese shipyards and suppliers and introduced the Ambassador.

HEMEXPO’s President Eleni Polichronopoulou received a special award, recognizing the growth and achievements of the Greek marine equipment manufacturers.

Maritime historian George Foustanos, author of the book “Made in Japan” also shared his insights before concluding of the event with an engaging Q&A session between Ambassador Ito and guests.

ELNAVI Newsletter  
More Information: ELNAVI,
19, Aristidou str., Piraeus 185 31,
Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.