Marking a fundamental shift in the maritime industry, GIT Coatings, a global leader in sustainable high-performance marine coatings, launched its next-generation graphene-base hard foul-release coating, XGIT-FORCE™. This launch moves beyond traditional biocide-based antifouling protection to a new era of hull performance management.

With first applications already underway across a global fleet, XGIT-FORCE™ is engineered to unlock up to 10% fuel savings and provide the highest return on investment of any antifouling coating on the market. With this launch, GIT Coatings is proving that peak operational efficiency no longer requires polluting the marine environment.

"XGIT-FORCE™ represents the natural evolution of our graphene-based solutions and a definitive step toward a new era of proactive hull performance management," said Mo AlGermozi, CEO of GIT Coatings. "By listening closely to our customers and integrating years of real-world learning, we have refined a technology that is mature, reliable, and biocide-free. This launch is about providing shipowners with a high-performance solution that gives them the flexibility to actively manage fleet efficiency and turn ambitious decarbonization goals into a reliable, competitive advantage."

Innovation behind XGIT-FORCE™

XGIT-FORCE™ is the result of years of intensive research and development, involving rigorous testing and trials in different fouling pressure conditions across the globe. Their proprietary Dynamic Phase Engineered Technology (DPET) combines smart surface chemistry with graphene-reinforced mechanical tuning to create a dynamic, amphiphilic barrier that inhibits biofilm formation and maximizes foul-release performance.

Building on this foul-release foundation, XGIT-FORCE™ delivers one of the smoothest surface profiles in the industry - providing a guaranteed 6% out-of-dock power gain compared to premium biocidal antifouling coatings - while offering the mechanical durability to withstand ice friction, fender impacts, and frequent cleanings. As a zero-leaching solution, it ensures shipowners can reduce fuel consumption and emissions without shedding toxic chemicals or microplastics into the marine environment.

Proactive Hull Performance Management

Being "cleanable by design," XGIT-FORCE™ aligns with the industry shift toward proactive hull cleaning as the most effective method for maintaining long-term vessel efficiency. This approach aims to keep hulls free from even light slime, which an IMO-published study has proven can increase fuel consumption by up to 25%. While the innovative DPET technology provides antifouling protection during idling and releases fouling while sailing, its resilient surface surface is specifically built to tolerate regular grooming and reactive cleaning without the degradation typically seen in traditional soft-foul release or ablative coatings.

Responding to a rising customer interest in proactive cleaning, GIT Coatings has established a dedicated Advisory Services department that provides an end-to-end hull performance management solution. This team assists with everything from developing vessel-specific grooming plans and identifying suitable cleaning solutions to sending fouling risk alerts and managing the process of cleaning approvals. This turnkey approach ensures that implementing a proactive cleaning regime is a seamless, data-driven, and hassle-free transition for any global fleet.

Immediate Global Adoption

The shift toward this new era of hull performance is already in motion. Over the coming months, XGIT-FORCE™ will be applied to more than ten vessels, including LPG tankers, dry bulk vessels, Ro-Ro vessels, container ships, and cruise ships. These applications across major international trading routes represent a significant milestone in the maturation of graphene-based coatings, proving the technology’s readiness for the most demanding global operations.

This rollout is the result of years of iterative development and real-world learning across 600+ vessels worldwide. By integrating feedback from early-generation applications into this next-generation system, GIT Coatings has refined XGIT-FORCE™ to meet the rigorous performance standards required by today’s forward-thinking shipowners. Today, GIT Coatings stands as a proven partner for operators looking to transform ambitious decarbonization goals into a reliable, competitive advantage.

Experience the Next Evolution in Hull Performance

GIT Coatings invites shipowners and operators to examine the proven data behind its next generation of graphene technology and its comprehensive approach to proactive hull performance management.

Whether you are looking to validate the Total Cost of Ownership (TCO) of XGIT-FORCE™ for your specific vessels and routes, or are seeking a strategic partner to implement a proactive hull performance management strategy, contact GIT Coatings at This email address is being protected from spambots. You need JavaScript enabled to view it.

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Seanergy Maritime Holdings Corp. has concluded 2025 by marking its fifth consecutive year of profitability, a testament to its disciplined capital allocation and robust chartering strategy. The company’s performance throughout the fourth quarter and the full year underscores a sophisticated balance between capturing market upside and maintaining a conservative financial profile. By prioritizing durable earnings and recurring cash flow, Seanergy has positioned itself as a resilient leader in the Capesize shipping sector.

Chairman and CEO Mr. Stamatis Tsantanis stated, “We delivered strong earnings, generated meaningful cash flow, advanced our fleet renewal strategy and continued returning significant capital to our shareholders, all while further strengthening our balance sheet.”

CFO Mr. Stavros Gyftakis emphasized that these results underscore the effectiveness of the company’s chartering strategy and risk management framework”.

Financial Performance and Strategic Execution

The company reported impressive figures for the full year 2025, with net revenues reaching $158.1 million and an adjusted EBITDA of $81.7 million. The fourth quarter alone contributed $49.4 million in revenue, driven by a Time Charter Equivalent (TCE) rate that aligned closely with the Baltic Capesize Index. This success is rooted in a proactive risk management framework that utilizes a mix of index-linked exposure and selective fixed-rate conversions.

Operating efficiency remained a hallmark of the year’s success. Despite global inflationary pressures, Seanergy maintained a lean daily operating expense of approximately $7,100 per vessel. Furthermore, the fleet achieved a remarkable utilization rate exceeding 96%, even while navigating a demanding drydocking schedule. This operational excellence resulted in a strong adjusted EBITDA margin of 51%, providing the necessary liquidity to fund both shareholder rewards and future growth.

Capital Returns and Balance Sheet Strength

Seanergy has demonstrated a steadfast commitment to its shareholders, declaring total dividends of $0.43 per share for 2025. Since late 2021, the company has returned nearly $96.4 million to investors through a combination of regular and special dividends, along with strategic share and debt buybacks.

This aggressive return of capital has not come at the expense of financial stability. The company ended the year with a fortified balance sheet, boasting $62.7 million in cash and a conservative net loan-to-value ratio of approximately 34%. Significant refinancing activities totaling $123 million have further lowered interest margins and extended debt maturities, ensuring the company remains resilient even during periods of freight market volatility. Notably, the scrap value of the fleet covers approximately 70% of total debt, providing a substantial safety net for the business.

Fleet Renewal and Future Outlook

The company is currently executing a measured fleet renewal program to modernize its tonnage and improve fuel efficiency. In 2025, Seanergy sold older assets like the Geniuship and Dukeship to release capital for newer investments. The company has committed $226 million toward three scrubber-fitted newbuildings, including two Capesize vessels and one Newcastlemax, scheduled for delivery between 2027 and 2028.

Looking ahead to 2026, the outlook remains highly optimistic. Management has already secured a significant portion of 2026 revenue through forward freight agreements, with Q1 TCE projected at $25,273 per day. With favorable supply-side fundamentals—characterized by a low global orderbook and aging fleet—Seanergy is well-positioned to capitalize on the expanding tonne-mile demand for iron ore and bauxite, promising continued value creation for its stakeholders.

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Nikos Katradis, President of KATRADIS GROUP was honored with the prestigious Entrepreneurship Award by the Academy of Greek Art Awards. This recognition highlights his longstanding contribution to the Piraeus community and his sustained impact on the maritime and business sectors.

The award was presented in acknowledgment of Mr. Katradis’ continuous support, commitment, and meaningful social contribution to the Piraeus region. Through decades of active engagement in the maritime industry, he has consistently demonstrated responsible entrepreneurship, reinforcing the strong connection between business growth and community development.

KATRADIS GROUP has evolved into a dynamic and internationally respected organization, while maintaining deep roots in Piraeus, a city historically linked to shipping and marine services. Mr. Katradis’ vision has always extended beyond business performance, emphasizing ethical practices, long-term partnerships, and initiatives that strengthen the local business.

The award ceremony took place in the presence of Mr. George Andrianopoulos and the Vice President of the Piraeus Chamber of Commerce & Industry (EBEP), Mr. Konstantinos Axladitis. Their presence added particular significance to the occasion, underlining the importance of entrepreneurship as a driving force for regional development and maritime excellence.

This distinction reflects not only Mr. Katradis’ personal dedication but also the core values of KATRADIS GROUP: Integrity, innovation, social responsibility, and commitment to sustainable growth within the maritime community.

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To mark the issuance and commencement of trading of its new corporate bond, the Board of Directors of Capital Clean Energy Carriers held a special "bell-ringing" ceremony at the Athens Stock Exchange (ATHEX) on Thursday, February 26, 2026.
The CEO of the Athens Stock Exchange Group, Mr. Yiannos Kontopoulos, expressed great satisfaction regarding the successful completion of this significant transaction. He highlighted that Capital is an international shipping power focused on the energy transition sector with global operations.
Furthermore, Mr. Kontopoulos expressed his hope for more shipping companies to list on the exchange's main market, noting that such moves would bolster the prestige and international recognition of the Athens Stock Exchange.
In his keynote speech, the COO of Capital Clean Energy Carriers, Mr. Gerasimos Kalogiratos, emphasized that following the successful issuances of 2021 and 2022 (totaling €250 million), today’s listing reaffirms a strong bond of trust with the Greek investing public. 

He noted that the group has successfully completed three bond issuances within just five years.
Mr. Kalogiratos extended his gratitude to ATHEX Management for their seamless cooperation, Piraeus Bank and Euroxx, ALPHA BANK and Optima BankSupport, Auditors, Capital executives and the investors.
He concluded by committing to continued transparency and operational efficiency.
The capital raised from this bond loan is earmarked for three primary strategic goals:
1. Refinancing: Repayment of an existing bond loan.
2. Expansion: Funding the construction of new vessels (newbuilds).
3. Liquidity: Strengthening the company’s working capital.

The traditional opening bell was rung by Mr. Nikolaos Kalapotharakos, CFO of Capital Clean Energy Carriers and Capital Ship Management Corp. 

The event was attended by senior executives from Capital group and the Athens Stock Exchange, banking representatives, and members of the financial and maritime press.

The issue of a Common Bond Loan of "CAPITAL CLEAN ENERGY CARRIERS CORP." was oversubscribed 1.75 times, raising capital of €250 million. A total of 250,000 dematerialized, common, registered bonds of the Company with a nominal value of €1,000 each were offered through the Athens Stock Exchange. The total valid demand expressed by investors who participated in the Public Offering amounted to €438.42 million, marking an oversubscription of the Issue by 1.75 times. 

The offering price of the Bonds has been determined at par, i.e. €1,000 per Bond. The final yield on the Notes was set at 3.75% and the interest rate on the Notes at 3.75% per annum. The Notes were allocated as follows: a) 186,000 Notes (74.4% of the total issued Notes) were allocated to Private Investors, and b) 64,000 Notes (25.6% of the total issued Notes) were allocated to Specialized Investors.

BRIEF PROFILE OF CAPITAL CLEAN ENERGY CARRIERS CORP.

Completing a historic transformation and focusing on LNG transportation, the Nasdaq-listed company, Capital Clean Energy Carriers (formerly Capital Product Partners L.P.) today has one of the youngest and most technologically advanced fleets in the world and is marking record financial performance while strategically positioning itself as a dominant player in the era of energy transition.

Growth prospects

CCEC is implementing one of the most ambitious shipbuilding programs in the world.CCEC has the largest modern fleet of LNG carriers among listed shipping companies in the US (in number of ships). It is implementing a broad investment program of approximately $3 billion in progress to strengthen the fleet with 18 newbuildings (9 latest generation LNG/C, 6 mid-sized dual-fuel LPG vessels and 3 LCO2/multi-gas vessels), which will be delivered between the second quarter of 2026 and the first quarter of 2029. With the scheduled delivery of the newbuildings, CCEC's state-of-the-art fleet will total 32 vessels.

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TOP Ships Inc. has entered into an agreement with an entity affiliated with the Company’s Chief Executive Officer, to acquire 100% of the issued and outstanding shares of nine Marshall Islands companies, counterparties to ship building contracts for nine very-high specification 47,499 dwt Medium Range (“MR”) product/chemical oil tankers with Guangzhou Shipyard International Company Limited, scheduled for delivery during 2028 and 2029.

The ship building contracts’ effectiveness is subject to the issuance of customary refund guarantees and the acquisition of the SPVs is subject to conclusion of financing arrangements. Specifically, the SPVs are currently finalizing lease financing agreements (the “Financings”) with two major Chinese leasing companies, one being ABC Financial Leasing Co., Ltd. or its controlled entities, covering the majority of the ship building contracts’ price for all nine vessels. The Financings were arranged by the Seller and their conclusion is subject to customary closing conditions, including the provision of the Company’s corporate guarantee to the leasing companies.

The Seller has also secured time charter employment with a major oil trader, for all vessels, starting from their delivery and for a firm duration of seven years, with charterer’s option to extend for four additional years.

The total potential gross revenue backlog from these contracts, including optional years, is about $679 million.

The Company has agreed to acquire the shares of all SPVs for an aggregate purchase price of about $41 million and due to the related party nature of the acquisition, the transaction was approved by a special committee composed of independent members of the Company's board of directors, (the “Transaction Committee”). The Transaction Committee obtained a fairness opinion relating to the consideration of this transaction from an independent financial advisor.

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Highlighting on a strategy of continuous profitability, and fleet renewal Seanergy Maritime Holdings Corp., a leading pure-play Capesize shipping company, reported its 17 th consecutive quarterly dividend under its capital return policy, with total cash dividends for 2025 of $0.43 per common share, underscoring the Company’s commitment to disciplined capital allocation and consistent shareholder returns.

On this occasion Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: “Driven by a strong Capesize market, Seanergy delivered a very strong fourth quarter, marking our fifth consecutive year of profitability. This performance reflects the durability of our pure-play Capesize strategy, disciplined balance sheet management, and our ability to consistently capture market upside. “We remain firmly focused on delivering consistent shareholder returns. In 2025, we distributed $0.43 per common share in cash dividends, and with the declaration of the Q4 dividend of $0.20 per common share, we marked our 17th consecutive quarterly dividend. Since launching our dividend program, we have returned $2.64 per common share, or approximately $51.2 million, to our shareholders, underscoring both the strong earnings capacity of our fleet and our disciplined approach to capital allocation.

“Looking ahead, market fundamentals remain constructive as we move into 2026. Robust iron ore and bauxite trade flows, limited Capesize newbuilding supply, and favorable ton-mile dynamics continue to support earnings visibility. With a high-quality fleet, predominantly index-linked employment, and balanced leverage profile, we believe Seanergy is well positioned to capture meaningful upside in this favorable environment. “Our fleet renewal program is progressing as planned and remains a core strategic priority.

In recent months, we added two prompt, eco newbuilding orders at leading Chinese shipyards: a scrubber-fitted Capesize sister vessel to the unit previously announced, scheduled for delivery in Q3 2027, and a scrubber-fitted Newcastlemax scheduled for delivery in Q2 2028. The total current newbuilding investment of approximately $226 million reflects our intention to continue pursuing selective and prompt newbuilding opportunities when market conditions and financing terms are favorably aligned. “In parallel, and taking advantage of firm secondhand values, we recently agreed to sell the 2010-built Dukeship through an 18-month bareboat arrangement, crystallizing a solid price and generating positive cash flows through the bareboat period. We continue to actively evaluate opportunities to optimize our fleet through selective acquisitions and targeted disposals, while keeping long-term shareholder value and returns as a top priority.

“On the commercial front, we secured index-linked renewals for five vessels, maintaining full participation in a strengthening market while selectively utilizing FFAs to manage volatility. This disciplined approach continues to deliver strong commercial performance. For the first quarter of 2026, we estimate a daily TCE of approximately $25,300, representing a 14% premium to the prevailing AV5 BCI year-to-date, based on the current FFA curve, with approximately 77% of available days fixed at an average rate of $24,739. “Seanergy enters 2026 from a position of financial strength, operational excellence, and strategic clarity, with a clear path toward continued per-share value creation for our shareholders.”

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METLEN and Shell signed a Memorandum of Understanding (MoU) for the supply and trading of Liquefied Natural Gas (LNG). The agreement was signed in Washington by Panagiotis Kanellopoulos, Chief Executive Director, International Energy Supply & Trading at METLEN and Tom Summers, Executive Vice President, Shell LNG.

The two companies will supply and trade volumes of 0.5 to 1.0 bcm annually for the period 2027–2031. The agreement provides for delivery to the Greek LNG receiving and regasification terminals at Revithoussa and Alexandroupolis, as well as the use of the Vertical Gas Corridor to access other European markets.
Evangelos Mytilineos, Executive Chairman of METLEN, emphasized the importance of the partnership in strengthening the company’s role in European natural gas markets, enhancing Europe’s energy resilience and further establishing Greece as a key regional energy hub.

The presence of Stavros Papastavrou - Σταύρος Παπασταύρου, Minister of Environment and Energy of Greece; Chris Wright, U.S. Secretary of Energy, Doug Burgum, Chairman of the National Energy Dominance Council and U.S. Secretary of the Interior, Kimberly Guilfoyle, U.S. Ambassador to Greece; and Colette Hirstius, President of Shell USA, Inc., highlighted the strategic importance of this partnership, which is reshaping the natural gas market in Southeastern Europe.

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After the latest acquisition of ATIVA NÁUTICA in Brazil, and the expansion of the company through the Canada branch, Lalizas opened a new branch in Manila, Philippines and an 880 square meter warehouse facility in Muntinlupa City.

This strategic expansion strengthens LALIZAS’ footprint in Southeast Asia and underscores the company’s commitment to making its products and services more accessible to maritime professionals in the region.

In fact, since June, Philippines Country Manager Crispo Mojica has been actively building strong local connections, representing the company at major industry events, including Philmarine and the Beacon exhibitions, while gaining valuable insights into customer needs and market opportunities.

The Philippine branch will operate as a regional hub, significantly improving product availability, logistics efficiency, and customer support for local distributors, shipowners, and maritime operators. Through our local presence, partners gain direct access to SOLAS and internationally compliant safety equipment and marine solutions, supported by local stock and a globally established manufacturing group.

“The Philippines is a cornerstone of the global maritime industry, and expanding our presence here is a natural step in our global growth strategy,” said Dr. Tasos Galanakis, Vice President - CCO.

“By opening a local branch, we are investing in closer relationships with our partners and ensuring faster, more reliable access to certified marine safety equipment,” mentioned Mr. Stavros Lalizas, CEO.

“Our goal is not only to supply products, but to be a trusted, long-term partner for the Philippine maritime community,” said Crispo Mojica, Country Manager of the LALIZAS Philippines. “This new branch allows us to respond more quickly to customer needs, reduce lead times, and provide localized expertise that supports safer and more efficient maritime operations.”

The opening of the Philippine branch reflects LALIZAS’ continued commitment to expanding its global network and supporting safety at sea through innovation, quality, and local engagement.

In total we celebrate 14 branches, 8 logistic centres, 6 franchises, 8 production plants and more than 1000 team members worldwide. This is what makes us the LALIZAS Force.

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V., the global ship manager and marine services provider, has entered into a new partnership with Greek shipowner Silk Searoad Maritime S.A for the technical management of their bulk and tanker fleet of eight vessels. Through the partnership, Silk Searoad will benefit from access to V.’s breadth of integrated marine services, global scale, expertise and data-driven platforms, allowing it to enhance safety, fleet performance and costs to better meet its evolving customer demands.

1. will oversee the long-term management and performance of Silk Searoad’s fleet, currently comprising of five bulk carriers and three tankers.

Support from V. will span daily operations onboard, including improved working conditions for crew through robust safety and welfare policies, proactive maintenance planning, and standardisation of processes across the fleet, with Silk Searoad benefiting from V.’s optimised vessel performance and compliance support.

Silk Searoad will also have access to a number of marine services across V. including Marcas – a contracting association combining purchasing volume across its members to secure competitive terms for goods and services.
The vessels will be managed by V.’s office in Greece. V.Ships Greece has more than 30 years of experience in ship management and is the first and largest company offering third-party ship management services in Greece.
Robert Desai, CEO, V.Ships, said: “We look forward to this new partnership with Silk Searoad and to supporting them in meeting their growth ambitions, today and in the years to come. This is the start of a long-term collaboration, driven by continuous growth through shared expertise, data and best practices.
“Silk Searoad represents a dynamic new generation of Greek shipping, combining youthful ambition with deep maritime heritage. Our experience, local expertise and global scale will be key in enhancing Silk Searoad’s market position and supporting them at a time of increasing industry complexity.”
Andreas Zissimatos, Managing Director at Silk Searoad, commented: “At Silk Searoad, we remain focused on disciplined, forward-thinking fleet development, built on long-term partnerships with reliable counterparties. V.’s approach and dedication to operational excellence are what stood out to us as a strong fit, particularly as we continue to grow and scale up. Their proven track record and operational frameworks, global reach, advanced systems and digital backbone are all key enablers for us in optimising our services and operations.

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Two decades of dedication and progress for the welfare of seafarers
 

The Cyprus Shipping Chamber, joins the international shipping community in commemorating the 20th anniversary of the Maritime Labour Convention, 2006 (MLC2006), a landmark instrument that has fundamentally transformed the global shipping industry by establishing comprehensive standards for the working and living conditions of seafarers and which has rightly won the title of the most successful international maritime labour agreement ever implemented. 

Since its adoption, MLC2006 has become widely recognised as the “fourth pillar” of the international maritime regulatory framework, complementing key safety and environmental conventions. Over the past two decades, it has played a pivotal role in promoting decent work at sea, safeguarding seafarers’ rights, and ensuring fair competition among shipowners through a harmonised global regime. 

The Shipping Chamber has consistently supported the effective implementation of MLC2006, recognising that the welfare, dignity, and professionalism of seafarers are essential to the sustainability and resilience of the shipping industry. Cyprus, as one of the world’s leading maritime centres and flag states, has ratified the MLC2006 Convention in 2012 and has been a strong advocate of the Convention’s objectives, working closely with international organisations, shipowners, and social partners to uphold high labour standards. 

For the Cyprus Shipping Chamber, the 20th anniversary of MLC2006 is an important reminder that seafarers are at the heart of global trade. Let us therefore, recognise and honour the efforts of Seafarers around the world, who play a vital role in world trade and truly contribute in ensuring a stable world economy and society.

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