On 5th December 2023, the General Assembly of the Hellenic Committee of Lloyd's Brokers Associates took place at the premises of the Hellenic Association of Insurance Companies in Athens during which General Elections were held to appoint the new Board of Directors and new Auditing Committee for the three (3) year period 2023 - 2026. The elected members have formed the new Board of Directors on 12th December as follows:

BOARD OF DIRECTORS

1. Chairman - Manos Lorentzos, Seascope Hellas S.A.
2. Vice Chairman - Manos Siatounis, Aon Benfield Greece S.A.
3. General Secretary - Sophia Taikidou, Orion International Brokers and Consultants Ltd.
4. Treasurer- Petros Mandarakas, National Insurance Brokers S.A.
5. Member- Phoevos Bartsiokas, Apostolou & Co Ltd.
6. Member- John Myrianthopoulos, European Link S.A.
7. Member- Tassos Trechas, Nereus Marine Services S.A.
8. Member- Nikos Ghiouzelakis, Triton Marine S.A.
9. Member – Dorina Oikonomopoulou, Marsh LLC Insurance Brokers

Deputy Member – Spilios Fasois, Faros Marine S.A.
Deputy Member – Victoria Liouta, Vilmar Insurance Brokers S.A.

AUDITING COMMITTEE

1. Maria Kouliga, Trinity Marine Services Ltd
2. George Karavias, Karavias G. and Associates Ltd.

The Hellenic Committee of Lloyd’s Brokers Associates has it’s origins in 1938 and is one of the oldest insurance-related representative bodies in the Greek market. Historically, the Committee consisted of marine insurance brokers who were associated with and in some cases acted as an exclusive local liaison of Lloyds brokers, as the latter placed the majority of the marine risks. In the years that followed the formation of the Committee, our members have opened up to the international insurance markets of the shipping industry that have gradually evolved, always maintaining very strong ties with Lloyd’s of London, as the name of the Committee suggests.
In the recent years our Committee has strengthened its membership through the inclusion of equally standing professional intermediaries of non-marine disciplines, and widened its activities in order to keep up with the challenges and demands faced by the insurance market. All of our members have well established channels of cooperation with all marine and non-marine insurance markets. This exercise ensures objective and competitive insurance solutions for our clients and is particularly important when it comes to shipping industry in the absence of a local insurance market.
At present the Committee consists of 28 members and we are proud for the high standards of service they are offering to the Greek insurance market.

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As the year comes to close PPA S.A. proudly accepts two prestigious awards, in recognition of the company’s business excellence, marking another twelve months of modernization and progress, and the best performance in the company’s history.
The "Diamonds of the Greek Economy 2023" award was presented to PPA S.A. during a special event organized by Naftemporiki at the Grande Bretagne Hotel on Thursday, December 14, 2023. Mr. Panagiotis Tsonis, the Deputy CEO of the company received the award from the Minister of Transport and Infrastructure, Mr. Christos Staikouras.
Additionally, on Tuesday, December 19, 2023, PPA S.A. was honored with the title of "True Leader" by ICAP CRIF, as it was among the top companies that have excelled in the Greek market and met all the objective and measurable criteria set by this renowned institution. The award was received by the Deputy CEO of the company, Mr. Panagiotis Tsonis, during the Award Ceremony from Mr. Vassilis Rabbat, Chairman of Association of Chief Executive Officers.
The Chairman of PPA S.A., Yu Zenggang, expressed his utmost satisfaction with this double recognition of the company, stating: "In a world that is constantly evolving and presenting us with new challenges, PPA S.A. embraces change and adapts accordingly. Our holistic strategy coupled with an unwavering commitment to stability, growth, and sustainability, has elevated the Port of Piraeus to become a vital hub for transportation, commercial, logistics, tourism, and communication. We will continue to seize opportunities and lay solid foundations for prosperity, development, and progress. Above all, we remain dedicated to supporting the society and working towards a better world. These new awards serve as a testament to the systematic work and efforts of PPA S.A. people. Together, we will continue to shape the future of the port industry and the sectors we influence, fostering innovation, and constantly enhancing the positive impact of our company and the Port of Piraeus within Greece and the world."

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In December 2023, leading ship management provider Columbia Shipmanagement (CSM) signed a scholarship agreement and Memorandum of Understanding (MOU) with the Cyprus Maritime Academy (CyMA), the first maritime academy in Cyprus to offer a four-year degree in nautical science. The initiative to participate in CyMA’s Cadet Scholarship Programme reflects CSM’s continuous efforts to promote academic excellence, professional training, and research in the maritime industry.
With the MOU, CSM commits to providing three full scholarships for CyMA’s newly enrolled cadets on an annual basis, on the condition of meeting specific socio-economic and academic criteria. 
This agreement enables CSM to collaborate with CyMA in selecting scholarship recipients and offering them on-board sea service practicums, mentorships, internships, and various training opportunities.
“We are pleased to announce our collaboration with the Cyprus Maritime Academy,” said Columbia Group CEO Mark O’Neil. “Investing in the next generation of seafarers and providing them with opportunities for personal and professional development is a strategic priority for us. Through this collaboration we are investing in our people, nurturing their potential, and preparing them for a future on board in the ever-evolving maritime industry.”
A private maritime academy, CyMA  is part of the educational organization of Intercollege and the University of Nicosia. The Academy offers a four-year Bachelor Degree programme in Nautical Science which also incorporates the IMO-STCW Certificate of Competence for an Officer in Charge of a Navigational Watch. The 12-month sea-service practicum is included in the four-year duration of the programme, which is delivered in English, enabling not only Cypriot but also EU and International Cadets to take advantage of this unique opportunity. 
Finally, the agreement between CyMA and CSM enables cadets who successfully complete their on-board sea service practicum to also have the possibility to be employed by CSM upon their graduation.

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Safe Bulkers, Inc. has entered into an agreement for the acquisition of a Japanese, 82,000 dwt, dry-bulk, Kamsarmax class vessel with a scheduled delivery date within the first half of 2026.
The newbuild vessel is designed to meet the Phase 3 requirements of Energy Efficiency Design Index related to the reduction of greenhouse gas emissions (“GHG-EEDI Phase 3”) as adopted by the International Maritime Organization, (“IMO”) and also comply with the latest NOx emissions regulation, NOx-Tier III (“NOx-Tier III”). This newbuild vessel is a sister vessel to a number of newbuilds in our orderbook with advanced energy efficiency characteristics resulting to lower fuel consumption.
The Company has already taken delivery of seven IMO GHG-EEDI Phase 3 – NOx-Tier III vessels. Including this agreement, the Company has an outstanding orderbook of eight newbuild vessels, two of which are methanol dual fuel, with scheduled deliveries three in 2024, two in 2025, two in 2026, and one in 2027, targeting one of the most environmentally efficient dry bulk fleets in the market.
Dr. Loukas Barmparis, President of the Company commented: “As part of our renewal strategy we have recently agreed to sell two of our vessels. This newbuild with a relatively prompt delivery is consistent with our ESG strategy and reflects our ambition to be in the forefront of environmental developments.”
Safe Bulkers, Inc. has a fleet of 46 vessels, consisting of 11 Panamax, 9 Kamsarmax, 18 Post-Panamax and 8 Capesize vessels, with an aggregate carrying capacity of 4.6 million dwt and an average age of 10.5 years. Twelve vessels in the Company’s fleet are eco-ships built after 2014, and seven are IMO GHG-EEDI Phase 3 – Nox-Tier III vessels built 2022 onwards. The Company has an outstanding orderbook of eight Phase 3 newbuild vessels, two of which are methanol dual fuel, with scheduled deliveries three in 2024, two in 2025, two in 2026, and one in 2027. The Company’s common stock, series C preferred stock and series D preferred stock are listed on the NYSE, and trade under the symbols “SB”, “SB.PR.C”, and “SB.PR.D”, respectively.

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Tototheo Maritime has been certified as a Great Place to Work® in both Cyprus and Greece, for the period from October 2023 to October 2024.
This recognition holds significant value, positioning the company as an employer of choice within two highly competitive markets, as it comes directly from its employees.
In the official announcement issued by Great Place to Work®, it is stated that Tototheo Maritime has successfully built a culture of innovation and collaboration.  The announcement highlights that, the Trust Index™ survey that was conducted among the employees, reflects a positive work environment in both Cyprus and Greece.
This underscores the effective implementation of a well-structured people-centric strategy by the company’s leadership.
Tototheo Maritime Co-CEO, Despina Panayiotou Theodosiou, said: “Our certification as a ‘Great Place to Work®’ is a significant distinction for our company, recognizing the ethos that defines us – as an organization that prioritizes its people. This certification showcases the collaborative, respectful, and innovative spirit within our teams in Cyprus and in Greece.
Encouraging daily expression of opinions and ideas allows our people to grow. However, this certification should not make us complacent. As a dynamic and progressive organization, we must remain vigilant for ongoing assessment, improvement, and reinforcement of the high standards and transparency that guide us.”

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The co-Founder Maria Yiassa, of Seaorama, has won the Startup Manager of the year 2023 award in a beautiful ceremony organized at Megaron, The Athens Concert Hall on Wednesday 13th December 2023!
Maria Yiassa has been part of the Maritime industry for over 25 years. Her passion and vision are to enhance the image of the maritime industry in the eyes of the world by making each person to realize the unmeasurable contribution of shipping in the everyday life. Thus, in 2021 Seaorama IKE was established, together with our other co-Founder Vera Alexandropoulou and has since expanded to various initiatives aimed to shake the way shipping industry is experienced but also to assist in changing the maritime industry in a way that embraces the environment and its contribution to society. 
The Shipping Industry impacts every aspect of our lives; however, many people struggle to grasp the significance of shipping and its vital role in our society. This is particularly true for younger generations who will be called to pave the way to several fundamental changes happening on the industry in the following years.
As the world was shaken by COVID epidemic, it became obvious that the best way to approach our vision was to utilise the expanding and impactful world of videogames, hence Seaorama: World of Shipping emerged.
SeaOrama: World of Shipping is a maritime themed video game designed to capture and present the shipping industry in an engaging and educational manner while standing out globally for its unique management and strategy simulation approach inspired by real shipping data.
This captivating game immerses players in the world of shipping companies, enabling them to develop their own managerial style through risk, logistics, finance and operations management while adjusting in macro-economic world challenges. Choose between container ships, bulk carriers, and tankers to create your own fleet, but be aware that various factors in the game may influence the expansion or investment in different types of vessels. By incorporating real shipping data, the game creates its own economy, generating diverse scenarios for players to navigate. From port congestion and piracy to extreme weather events, mechanical failures, and crew accidents, the game encompasses the challenges faced in the shipping industry.
The timing of Maria Yiassa’s award was just perfect as the following day, on the 14th of December 2023 SeaOrama: World of Shipping made a worldwide premiere, in 8 languages, and its appeal has exceeded our expectations!
The Game is available on Steam, Epic and Gog platforms and is also available in Amazon Prime, featured as one of the Prime Gaming bonus games to its members. For a Startup, gaining access to Amazon's Prime can be translated as to having access to more than 162 million Prime members. 
You can access the game through:
https://store.steampowered.com/app/2002570/SeaOrama_World_of_Shipping/ 
https://store.epicgames.com/en-US/p/seaorama-world-of-shipping-ff5abb
https://www.gog.com/game/seaorama_world_of_shipping
You can also find information in our website: https://www.seaorama.com/.
Companies from both the shipping industry and others in the maritime cluster are invited to explore the promotional opportunities offered through the video game (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) Why don’t you join us in this thrilling journey!

ELNAVI Newsletter  
Μore 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.

The co-Founder Maria Yiassa, of Seaorama, has won the Startup Manager of the year 2023 award in a beautiful ceremony organized at Megaron, The Athens Concert Hall on Wednesday 13th December 2023!
Maria Yiassa has been part of the Maritime industry for over 25 years. Her passion and vision are to enhance the image of the maritime industry in the eyes of the world by making each person to realize the unmeasurable contribution of shipping in the everyday life. Thus, in 2021 Seaorama IKE was established, together with our other co-Founder Vera Alexandropoulou and has since expanded to various initiatives aimed to shake the way shipping industry is experienced but also to assist in changing the maritime industry in a way that embraces the environment and its contribution to society. 
The Shipping Industry impacts every aspect of our lives; however, many people struggle to grasp the significance of shipping and its vital role in our society. This is particularly true for younger generations who will be called to pave the way to several fundamental changes happening on the industry in the following years.
As the world was shaken by COVID epidemic, it became obvious that the best way to approach our vision was to utilise the expanding and impactful world of videogames, hence Seaorama: World of Shipping emerged.
SeaOrama: World of Shipping is a maritime themed video game designed to capture and present the shipping industry in an engaging and educational manner while standing out globally for its unique management and strategy simulation approach inspired by real shipping data.
This captivating game immerses players in the world of shipping companies, enabling them to develop their own managerial style through risk, logistics, finance and operations management while adjusting in macro-economic world challenges. Choose between container ships, bulk carriers, and tankers to create your own fleet, but be aware that various factors in the game may influence the expansion or investment in different types of vessels. By incorporating real shipping data, the game creates its own economy, generating diverse scenarios for players to navigate. From port congestion and piracy to extreme weather events, mechanical failures, and crew accidents, the game encompasses the challenges faced in the shipping industry.
The timing of Maria Yiassa’s award was just perfect as the following day, on the 14th of December 2023 SeaOrama: World of Shipping made a worldwide premiere, in 8 languages, and its appeal has exceeded our expectations!
The Game is available on Steam, Epic and Gog platforms and is also available in Amazon Prime, featured as one of the Prime Gaming bonus games to its members. For a Startup, gaining access to Amazon's Prime can be translated as to having access to more than 162 million Prime members. 
You can access the game through:
https://store.steampowered.com/app/2002570/SeaOrama_World_of_Shipping/ 
https://store.epicgames.com/en-US/p/seaorama-world-of-shipping-ff5abb
https://www.gog.com/game/seaorama_world_of_shipping
You can also find information in our website: https://www.seaorama.com/.
Companies from both the shipping industry and others in the maritime cluster are invited to explore the promotional opportunities offered through the video game (email: This email address is being protected from spambots. You need JavaScript enabled to view it.) Why don’t you join us in this thrilling journey!

ELNAVI Newsletter  
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Tel.: +30 210 45.22.100, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

INTERCARGO condemns the attacks on merchant vessels transiting the Red Sea and is calling for an immediate stop to these actions and the release of ships and their crew being held.
The Red Sea is a vital waterway, linking Europe and Asia, with 12% of global trade passing through it and these missile, drone or pirate attacks, which have been escalating over the past month, are completely unjustified with innocent seafarers becoming pawns in land-based aggression.
The safety of our seafarers remains INTERCARGO’s paramount concern and we urge our members to remain vigilant and take note of the guidance being issued by the industry.
Not only are these attacks putting crew members and vessels at risk but East African nations and regions relying on the transit of dry bulk cargoes such as food and vital raw materials through the Red Sea will face severe consequences due to trade disruptions.
Whilst INTERCARGO welcomes the international coalition which has been set up to help combat the attacks, concerned states and the international community need to work together to ensure unhindered safe navigation and the well-being of innocent seafarers world-wide.
INTERCARGO will continue to monitor the situation closely and offer guidance and support to members, as the industry collaborates with all stakeholders to address the threat posed and safeguard international shipping.

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The Board of Directors has appointed Carlo Luzzatto as CEO and General Manager and Ugo Salerno as Executive Chairman

The incorporation of Fondo Italiano d'Investimento SGR into the shareholder structure of RINA S.p.A. has been successfully completed. The agreement includes a capital investment of up to 180 million euros, structured as equity. As part of the share distribution, Registro Italiano Navale will maintain a majority stake, while Fondo Italiano d'Investimento and other co-investors led by it will acquire a minority interest up to 33%. Additionally, the company's management will hold about 3.5% stake in the capital.
Concurrently, the new Board of Directors of RINA S.p.A. was established, which appointed Carlo Luzzatto as the CEO and General Manager of the company. Ugo Salerno remains in his role as the Executive Chairman, with responsibilities for communication and institutional relations.
These changes are part of the company's ongoing growth trajectory, focusing on evolving towards business models and services increasingly based on innovation and sustainability and on accessing the stock market within a timeframe of 3 to 5 years.
Davide Bertone, CEO of Fondo Italiano d’Investimento, said: “We are particularly happy and proud to be able to actively contribute to a phase of further growth and evolution of RINA. The company will increasingly play an international leading role in engineering and the certification of many sectors that are central to the technological transition”.
Ugo Salerno, Executive Chairman of RINA S.p.A., stated: "RINA is a company that, throughout its history, especially in recent times, has continually evolved, diversifying its business lines and reaching international markets. In doing so, the company has broadened its horizons and, in just over twenty years, has experienced exponential growth both in terms of employees and revenue. I am confident that the phase we have just embarked on will open us up to new challenges, allowing us to achieve even higher levels of excellence. I believe that Carlo Luzzatto is the right person to carry forward this plan. Today, we complete an operation that we began with Davide Bertone and Fondo Italiano d’Investimento, with whom we have been in complete harmony from the start".
Carlo Luzzatto, CEO and General Manager of RINA S.p.A., commented: "I am thrilled and excited to become part of this company with its fascinating history, which also brings me back to my hometown. I extend my gratitude to Registro Italiano Navale, Fondo Italiano d’Investimento, and the company management - particularly to Ugo Salerno - for the trust they have placed in me and to all my colleagues with whom we are already hard at work. In these first few weeks, I have confirmed that the skills and value of the people are the true wealth of the company. The pursuit of innovation, combined with a drive for digitalization, will be the cornerstone of RINA's future success".
Paolo d’Amico, Chairman of Registro Italiano Navale, added: “We stand alongside the management and the Board of Directors, confident that the skills and experience acquired by the appointment of Carlo Luzzatto represent significant added value for the Group. The important results achieved so far are merely a milestone in RINA's journey, a path guided by the values that have always characterised the company and the actions of its people: competence, passion, and curiosity".
Educated at some of the world's top business schools, Luzzatto boasts over thirty years of experience in the energy, aerospace and infrastructure sectors. Throughout his distinguished career, he has held senior leadership positions - both in Italy and internationally - at public and private companies, including General Electric Oil & Gas, Ansaldo Energia, Chromalloy, and Impresa Pizzarotti.
The Board of Directors of RINA S.p.A. is now composed as follows: Nazareno Cerni, Aldo Di Bernardo, Gianpaolo Di Dio, Simonetta Di Pippo, Emanuele Grimaldi, Carlo Luzzatto, Roberto Martinoli, Paolo Pierantoni and Ugo Salerno.
RINA S.p.A. was supported in this agreement by Lazard as a financial advisor, by Banca Akros as a co-financial advisor, by PwC (financial due diligence) and by Linklaters and Studio Legale Gattai, Minoli, Partners as legal advisors.
Fondo Italiano d’Investimento was supported in this agreement by Legance, as legal advisor, and BCG (business due diligence), New Deal Advisors (financial due diligence), Kpmg (tax due diligence), ERM (ESG due diligence), Marsh (Insurance due diligence) ed E&Y Parthenon (tech due diligence).
RINA, leading certification company and engineering company in Italy, provides a wide range of services across the Energy, Marine, Certification, Infrastructure & Mobility, Real Estate and Industry sectors. With revenues in 2022 of 725 million euros, 5,300 employees and 200 offices in 70 countries worldwide, RINA is a member of key international organizations and an important contributor to the development of new legislative standards. www.rina.org      
The Registro Italiano Navale, majority shareholder of RINA S.p.A., is a private non-profit body, whose social purpose is to contribute, in the interest of the community, to the protection of human life, property and the environment. The main categories interested in the activities of the organization and its subsidiaries are represented on the Board of Directors.
Fondo Italiano d’Investimento SGR was established in 2010 with the initiative of the Italian Ministry of Economy and Finance (MEF) and is participated by CDP Equity, Intesa Sanpaolo, UniCredit, Fondazione ENPAM, Fondazione ENPAIA, ABI, Banco BPM, and BPER Banca. The fund's main objective is to manage closed-end investment funds dedicated to channelling capital to excellent Italian companies, combining return on investment goals in line with international benchmarks and supporting the development of the Italian production system. Fondo Italiano manages 16 closed-end investment funds reserved for qualified investors, with assets of over 3 billion euros, and operates through both direct and indirect investments (fund of funds). The fund considers sustainability as a fundamental value and is committed to integrating environmental, social, and governance (ESG) criteria into its investment activities.

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Island Oil has established a Hong Kong trading office. With more than 30 years of experience since its inception in Cyprus, the company continues its latest expansion into the Chinese and Far Eastern markets. The office becomes the group’s 6th trading desk alongside offices in Cyprus, Greece, Singapore, UK and Shanghai (rep. office).
Island Oil Ltd is the international marine fuels and lubricants trading arm of the Island Oil Holdings group which includes Island Petroleum, physical suppliers of marine fuels in Cyprus, Israel and Romania.
Mr. Vangelis Marinakis, COO of Island Oil, stated that “our company continues on its growth trajectory and expects the new trading office to be a significant contribution in the fulfillment of its vision to be among the most reliable energy and shipping services providers.”
The Hong Kong office will be led by Michell Kamphorst, Head of International Trading Asia, who established the Singapore desk in 2014. Marshall Chan has joined as a trader, while the Hong Kong office intends to add additional headcount in the forthcoming months. “We aim to continue growing in a sustainable and ethical manner, always on the basis of mutuality, respect, and fairness.”, concluded Mr. Marinakis.

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