The 9th Annual Capital Link Cyprus Shipping Forum, held in Limassol, convened at a historic turning point as the Cyprus Registry celebrates its most significant expansion in a quarter-century. Surging to a 25-year high, the registry reported a 20% increase in ship tonnage and a 26% rise in new company registrations, driven by aggressive digitalization and competitive tax reforms. This robust growth provided a triumphant backdrop for the forum’s mission to address international shipping’s most pressing hurdles.
Mr. Nicolas Bornozis, President of Capital Link, Inc., and Conference Chairman Mr. George A. Tsavliris, Principal of Tsavliris Salvage Group, opened the event by emphasizing the need for a deeper understanding of the industry's evolving landscape.
A focal point of the event was a 1x1 discussion between Shipping Deputy Minister Marina Hadjimanolis and Mr. Nicolas Montanios of Montanios & Montanios LLC. They highlighted the registry’s recent 23% performance leap and looked forward to the informal ministerial meeting on April 29th in Nicosia. This meeting will see the endorsement of the Lefkosia Declaration, a landmark document placing the "human element," modern maritime education, and the increased participation of women at the core of the EU's maritime future.
Further reinforcing the policy perspective, Ms. Elissavet Vozemberg-Vrionidi, Chair of the European Parliament's Committee on Transport and Tourism, delivered keynote remarks on the "turning point" of European transport policy, focusing on how the Cyprus maritime cluster maintains resilience and competitiveness amidst global shifts.
The forum also paused to honor industry excellence, presenting the Capital Link Lifetime Achievement Award to Mr. Acis Montanios, CEO of Montanios & Montanios LLC. Transitioning to technical challenges, Mr. Theo Kourmpelis of Lloyd’s Register provided a vital regulatory update on the path to Net Zero. This sparked a rigorous debate on fleet renewal moderated by Mr. Vassilis Dimoulas of Bureau Veritas. Panelists including Mr. Antonis Faraklas of Chartworld Shipping, Dr. George D. Pateras of Contships Management, and Capt. Eberhard Koch of OL Shipping weighed the high costs of new builds against market reliability. Dr. Loukas Barmparis of Safe Bulkers notably argued that dual-fuel vessels serve as a strategic hedge against future local regulations, protecting the competitiveness of the Greek and Cypriot fleets.
The digital frontier was explored in a session on AI and commercial optimization, moderated by Mr. Joe Woods of ABS Consulting. Mr. Konstantinos Vlachos of CASTOR and Mr. Dimitris Vastarouchas of Danaos Corporation debated whether AI is a threat or an opportunity, concluding it is a powerful tool for fuel optimization and safety, provided it remains subordinate to human decision-making. Mr. Konstantinos Stampedakis of ERMA TECH GROUP and Mr. Vasileios G. Petousis of Seanergy Maritime Holdings explained how AI strategy is now essential for reducing carbon intensity and managing technical performance. Mr. Tsavliris concluded the segment by reminding attendees that AI should supplement, not substitute, human expertise.
In the realm of shipmanagement, a panel moderated by Mr. Nicos Attas of RINA Cyprus featured leaders such as Mr. Basil Sakellis of Alassia NewShips, Capt. Franck Kayser of Asyad Shipping, Mr. Dieter Rohdenburg of InterMaritime, and Mr. Prabhat Kumar Jha of MSC Shipmanagement. They stressed that modern shipmanagement is now entirely performance-oriented, relying on economies of scale and innovative technologies to help smaller and medium sized shipowners navigate the complex energy transition.
The forum addressed the state of ship finance in a discussion moderated by Mr. George Zambartas of Hill Dickinson LLP. Financial experts including Mr. Nikolaos Kagkarakis of Alpha Bank, Mr. Nicholas Pavlidis of Bank of Cyprus, Mr. Philipp Wünschmann of Berenberg, Mr. Aris Patounas of Eurobank, and Mr. Jan William Denstad of Sole Projects noted that while capital is currently abundant—particularly from East Asia—the sector faces rising costs due to Basel 4 compliance and geopolitical instability. They concluded that environmental sustainability has shifted from a preference to a core requirement for accessing project financing in 2026.
2nd part of the forum
The forum highlighted the critical intersection of energy security, shipping logistics, and geopolitical strategy, beginning with a panel moderated by Ms. Dorothea Ioannou, CEO of American P&I Club. During this session, Minister Michael Damianos of the Republic of Cyprus and Dr. Daniel E. Mangis, Chargé d’Affaires ad interim of the U.S. Embassy in Nicosia, emphasized the pivotal roles of Greece and Cyprus as regional energy hubs. They detailed how these nations are positioned to enhance stability by facilitating the supply of U.S. LNG through the "Vertical Corridor" to Europe and collaborating with American oil producers to exploit energy resources, ultimately strengthening the strategic partnership between the two countries and U.S.in the Eastern Mediterranean.
Shifting the focus to the maritime sector, Mr. Andreas Papachristodoulou of Stephenson Harwood moderated a discussion on shipping amidst global commerce and regulations. Mr. Mark O’Neil, President and CEO of Columbia Group, voiced concerns that any pause in the IMO’s net-zero framework might trigger a fragmented surge in regional environmental rules. He and Mr. Spyros Vlassopoulos, Managing Director of Ionic, both stressed the increasing complexity of sanction compliance, noting that avoiding sanctioned trades is now essential for maintaining access to international financial markets. Mr. Filippo Fabbri, CEO of Lockton P.L. Ferrari, further examined how the "shadow fleet" and sanctions are impacting the P&I and marine insurance sectors, while Ms. Eman Abdalla, Founder of SeaThrew, argued that resilience and reliability have become the new benchmarks for navigating today's market "minefields."
To provide a charterer’s perspective, Mr. Polys Hajioannou, CEO of Safe Bulkers and President of the Cyprus Union of Shipowners, led a conversation with Mr. Tim Barrett of Cargill Ocean Transportation and Mr. Carl Andrew Dacombe of Mercuria Shipping Pte Ltd. Both representatives expressed optimism for the Capesize market through 2026, noting that high rates are being sustained by robust Atlantic iron ore and West African bauxite flows to China rather than a general commodity rally. They also highlighted that charterers are increasingly rewarding shipowners who adopt operational upgrades for fuel optimization and vessel efficiency.
The forum concluded with a panel on shipowner investment and competition, moderated by Mr. Leonidas Karystios of DNV Maritime. The panel featured prominent industry leaders including Mr. Andreas Hadjiyiannis of Cyprus Sea Lines, Mr. Aristides J. Pittas of Euroseas Ltd., Mr. George Mouskas of Olympia Ocean Carriers, and Mr. Polys Hajioannou. Mr. Pittas noted the difficulty of market forecasting in a volatile geopolitical climate, choosing to focus on "eco" designs and LNG-ready vessels rather than full LNG propulsion. Mr. Hadjiyiannis warned that regulations like the EU ETS and FuelEU could harm European competitiveness, while Mr. Mouskas pointed out the challenge of investing in new fuels without a permanent global solution. Finally, Mr. Hajioannou shared his company's strategy of avoiding war zones to protect crew and assets, as the panel collectively urged European regulators to recognize the vital importance of Greek, Cypriot, and Maltese shipping to the continent's supply autonomy.
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.