The Institute of Chartered Shipbrokers Greek Branch held its 18 th Annual Forum, on Tuesday, 28th of November 2023. The title was: “SHIPPING 2024: SAILING WITH WISDOM”.
This year’s event took place with physical attendance at the Eugenides Foundation, while it was broadcasted live around the world and attended online by hundreds of friends and Members of the Institute.
A welcome address was made by Ms Natalia Margioli - Komninou FICS, Managing Director of the ICS Greek Branch and Hellenic Management Centre. Ms Margioli-Komninou emphasized the international presence of ICS and welcomed the Members of the Controlling Council representing the 27 Branches worldwide at the Forum. She also highlighted the Institute’s commitment to fostering professionalism and uniting industry with young professionals. Special emphasis was given to the 25-year legacy of training over 10,000 shipping practitioners and to the introduction of the ICS Company Membership Scheme.
Mr Nicolas A. Tsavliris, FICS, Chairman of the ICS Greek Branch and Tsavliris Salvage Group addressed a very warm welcome to the attendees of the Forum. Emphasizing the importance of wisdom in the shipping industry, the Chairman reflected on the ICS role in navigating both industry challenges and global crises. He highlighted wisdom as a blend of knowledge, experience, and insightful judgment, drawing parallels with the ancient Greeks’ philosophy and ethical decision making.
A special address was made by Mr Kevin Shakesheff, FICS, International President ICS. Mr Shakesheff emphasized the rich history of ICS, exceeding a century which stands as a testament to the vast accumulation of maritime information and expertise. This repository has been pivotal in shaping the careers of many aspiring professionals. He specially recognized the Greek Branch for its remarkable success rate, an accomplishment which underlines the exceptional contribution to maritime education.
The panel included the following distinguished speakers: Ms Annika Bartels Head of Tanker Research, IFCHOR GALBRAITHS, Ms Alexia Hatzimichalis Partner & Head of Athens Office, Watson Farley & Williams, Mr George G. Mangos Co-Principal, Interunity Group, Mr Aristides J. Pittas CEO, Euroseas Ltd & Eurodry Ltd., Mr Filippos Prokopakis CCO, Danaos Corporation, Mr Valentios (Eddie) Valentis CEO, PYXIS Maritime Corp., Mr George Youroukos Managing Director, Technomar Shipping Inc. The panel was moderated by Mr Simon Ward, FICS, Director, Ursa Shipbrokers. His expert facilitation of discussions, posing critical questions, and encouraging diverse viewpoints, played a crucial role in the success of the event.
The forum itself was very informative and comprehensive, covering a spectrum of issues facing the shipping industry at a global level. In her analysis of the current market dynamics, Ms Annika Bartels described the last 18 months as a wild ride, following the low points of 2020-2021. Despite the geopolitical tensions, she noted that a deeper look into the data reveals more positives than initially apparent acknowledging the difficulty in making speculations in such a volatile environment. Ms Alexia Hatzimichalis brought attention to the active role of Greek banks as well as the emergence of new players and leasing companies. She also pointed out the increasing focus on sustainability in financing new shipbuilding projects. Mr George Mangos highlighted the significant impact of war economics on the tanker market while noting the de-escalation between the US and China in the broader economic context, a development which could stabilize market conditions. Mr Aristidis Pittas advocated for diversification beyond reliance on a single market while highlighting the role of adaptation, flexibility and open-mindedness in decision-making. Mr Filippos Prokopakis shifted focus to the specificities of the container fleet, suggesting that price stabilization is still a developing scenario. Mr Eddie Valentis acknowledged that the tanker segment has shown robust performance in the last six months and expressed confidence – despite geopolitical uncertainties - in the growth of ton-miles as a market driver. Mr George Youroukos brought attention to the impeding volatility in the container market and pointed out the capital markets’ growing interest in shipping companies, with hedge funds emerging as key investors.
During the panel discussion, there was a vibrant interaction between the audience and the panelists. Participants were asking questions to the speakers, commenting on the topics addressed and expressing their opinions and views. This fact proved once again that the ICS Annual Forum is not only a meeting point for shipping professionals but a platform of exchanging ideas and learning from each other.
The excellent performance of the Greek Branch is translated into 6 International Prize Winners and 5 distinction students, who have excelled in the ICS Professional Qualifying Examinations in 2022- 2023. All of them were honored during the Awards Giving Ceremony, which was included in the Annual Forum’s proceeding.
The International Prize Winners are: Konstantinos Deligiannis, Delta Tankers Ltd: Award to the to the candidate with the highest marks in Shipping Law Exams worldwide, Sotirios Sotiriou, Neda Maritime Agency Co. Ltd.: Award to the candidate with the highest marks in Shipping Business Exams worldwide, Eirini Gavala, Vita Shipmanagement: Award to the candidate gaining the highest marks in Foundation or Advanced Diploma in Dry Cargo Chartering, Nikolaos Tolias, Intrum Hellas: Award to the candidate gaining the highest marks in Ship Sales and Purchase, Anastasia Stratigaki, Kyklades Maritime: Award to the candidate with the highest marks in Tanker Chartering, Emiliano Chysa (2 prizes), Delos Navigation Ltd: Award to the most successful candidate overall in Examinations and to the candidate gaining the highest marks in Legal Principles in Shipping Business
The distinction students are: Dimitris Filimon, Silver Maritime: Award to the candidate gaining a distinction in Shipping Finance Examinations, Panagiotis Georgilis, Watson Farley & Williams: Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations, Olga Kakkava, Lawyer: Award to the candidate gaining a distinction in Shipping Business Examinations, Elena Pavlou, Epsilon Marine Enterprises S.A.: Award to the candidate gaining a distinction in Ship Sale and Purchase Examinations Jeet Rathod: Award to the candidate gaining a distinction in Economics of Sea Transport & International Trade.
The 18th Annual Forum of the ICS Greek Branch was held with the kind contribution and support of the following sponsors: AB Maritime Inc., Acropolis Chartering & Shipping Inc, Arrow Shipbroking Group, Capital Ship Management Corp., Clarksons Hellas Ltd, Costamare Inc., Danaos Shipping Co. Ltd, Danaos  Management Consultant S.A., Dorian LPG Management Corp, Dynacom Tankers Management Ltd, Eastern Mediterranean Maritime Ltd, Edit Automation, Euronav Ship Management (Hellas) Ltd., GAC Shipping S.A., Hellaschart Ltd, Holman Fenwick Willan International LLP, Insight Shipping Partners SA, The Marshall Islands Registry International Registries Inc., Navios Maritime Partners L.P., Nereus Shipping S.A., Safe Bulkers Inc., Seaborne Shipbrokers S.A., Seanergy Maritime Holdings
Corp., Target Marine S.A., Tsakos Energy Navigation Ltd., Tsavliris Salvage Group, Ursa Shipbrokers S.A, V.Ships Greece Ltd. The 18 th Annual Forum is available for replay on demand at the following link:

https://www.youtube.com/watch?v=R-nB6HSAIfs

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ERMA FIRST, the leading sustainable maritime solutions provider, has received Approval in Principle (AiP) from DNV for its amine absorption-based Onboard Carbon Capture (OCC) system.
DNV issued the AiP to ERMA FIRST following the successful completion of a technical review, risk assessment and review of the company’s feasibility study for Onboard Carbon Capture (OCC) on RoRo vessels. In doing so, the world’s leading classification society confirms that the proposed design is approved for installation onboard seagoing vessels.
The ERMA FIRST CCS system uses amine absorption technology and a proprietary amine solvent to absorb CO₂ from flue gases. When heated, the chemical reaction that occurs reverses the absorption and separates the CO₂ from the solvent. The CO₂ that is released is subsequently liquified and stored under cryogenic conditions onboard and the regenerated solvent can be re-used, creating a highly efficient regenerative OCC process.
“As the maritime industry explores a range of decarbonization technologies, DNV is committed to supporting innovation and ensuring this is done safely. OCC can be a major contributor to emissions reductions and our guidelines for OCC provide a framework for developing exciting new solutions like this. With our extensive portfolio of advisory services we will continue to work closely with our customers in paving the way towards a more sustainable future in shipping,” said Mrs Chara Georgopoulou, Head of R&D and Advisory Unit Greece & Onboard CCS Manager, DNV Maritime.
Mr Konstantinos Stampedakis, Co-Founder & Managing Director, ERMA FIRST, said: “We are absolutely delighted to have received an Approval in Principle from DNV for ERMA FIRST’s OCC system. OCC systems promise to provide shipowners and operators with the ability to significantly reduce the volume of CO₂ emitted in exhaust fumes and offer a viable solution to achieving the IMO’s emissions reduction targets.
“Our OCC system is set to be one of the first available to the market and this AiP represents a significant achievement for ERMA FIRST’s research and development team. We look forward to continuing to work with DNV as the project progresses and installing and operating a pilot system onboard a DNV-class vessel.”
ERMA FIRST was founded in 2009 and headquartered in Greece, ERMA FIRST is a leading manufacturer and provider of future-proof sustainable maritime solutions. The company’s robust systems and solutions ensure worldwide compliance, provide operational simplicity and reduce operational expenditure, while at the same time minimising the impact of ship operations on the environment.
ERMA FIRST's customer-centric approach offers flexible and convenient servicing through a trusted network of certified engineers worldwide. ERMA FIRST provides sales, maintenance and training to clients via offices in 46 countries.
ERMA FIRST offers a complete range of solutions, including ballast water treatment (BWTS), Alternative Maritime Power (AMP), Energy Saving Devices (ESDs) and Carbon Capture and Storage (CCS).
ERMA FIRST won the Lloyd’s List Technical Achievement Award (2013 and 2023), the GREEN4SEA Technology Award (2016) and the GREEN4SEA Sustainability Award (2023).

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Three new ARI simulators were recently delivered to the Nautical Academy AEN Oinousses, coinciding with the induction ceremony for first-year students. Notably, Oceanking served as the subcontractor for this turnkey project, making a significant contribution to the advancement of maritime education at the academy.
These simulators embody the latest technological advancements, standing out for their exceptional simulation and realism capabilities. They are certified according to international standards for Maritime Simulation Systems and STCW. This cutting-edge technology provides students with the unique opportunity to integrate theory with practice, experiencing the dynamics of a real ship and real conditions through advanced "virtual" exercises.
With these state-of-the-art laboratories, AEN Oinousses emerges as one of the most modern Maritime Academies in Europe. This not only reaffirms Oceanking’s dedication to supporting maritime education but also aligns with the company’s vision of leading advancements in maritime training and technology.

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Matthieu Moulonguet, Policy Officer, European Commission presented a Regulatory Update on EUETS saying that the existing scheme will cover maritime transport emissions as from 1 January 2024. He also noted that the geographical scope of ETS is 100% of emissions from voyages within the EU, 50% of the emissions from voyages starting or ending outside of the EU. ETS aims to reduce CO2, N2, NH4 emissions.
Kostas Economou, Head of Shipping Finance, Pancreta Bank & General Secretary of the ‘Association of Banking and Financial Executives of Hellenic Shipping’ explained the Banking Approach on the "Green" Transition. Mr Economou pointed out that the banks have already provided loans bonds or lease designed specifically to support environmentally friendly initiatives in shipping. In this view the Poseidon principles was launched to encourage green initiatives which has 30 signatories from institutions that hold more than 50% of the aggregate debt portfolios.
Given its capital intensive nature investors are encouraged to push stakeholders to adopt emissions reduction plans.aligned with achieving a zero carbon target by 2050.
George Laios, Deputy CEO, Intermodal gave a speech on how to Navigate the EU ETS - Charting a Sustainable Course for Shipping.
Mr Laois said that EUAs are tradable commodities and are influenced by a range of the market supply and demand factors including geopolitical events like Russia - Ukraine conflict.
Maria Kyratsoudi ABS’ business development manager referred to the new features of Emissions Reporter Portal and presented some screenshots of how the system works.
She remarked the the portal is a statement of facts and not a certificate of compliance.
Antony Vourdachas, Principal Engineer, Global Sustainability, ABS focused on ABS Carbon Diligence Platform.
Finally a panel discussion took place about the Inclusion of Shipping in the EU-ETS - Addressing the Challenges with Moderator Stamatis Fradelos, Vice President Regulatory Affairs, ABS.
Panelists: Georgios Poularas CEO at ENESEL S.A., Kostas Polydakis, CEO at MM Marine Inc. - Mercuria Energy Group, Kostas Economou Head of Shipping Finance, Pancreta Bank & General Secretary of the ‘Association of Banking and Financial Executives of Hellenic Shipping, Matthieu Moulonguet, Policy Officer, European Commission, Nektarios Mamitsas, Directorate of Climate Change and Air Quality, Section for Market Mechanisms and GHG Emissions Registry, Hellenic Ministry of Environment and Energy.

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The UK Defence Club organized a seminar at the Yacht Club of Greece regarding the bunkering myths that have to be debunked.
Two distinguished Speakers Chris Fisher - Consultant Fuel Chemist, Brookes Bell and Paul Herring - Legal Director UK Defence Club presented the issues of fuel sampling, evidence in support of a fuel quality claim, mitigation and avoidance of risk and last but not least referred to quantity claims for short deliveries.
The quality of bunker fuel continues to be a source of concern for shipowners and charterers. This seminar looked at the steps that can be taken to reduce the risk and extent of fuel-related claims.Speakers shared their experience and gave useful advice.

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ELNAVI celebrated its 50th anniversary during the 2day WIMA’s Convention at the Stone Warehouse of PPA.
38 stands of WIMA members flanked the exhibition - ELNAVI has been a member since 2006 and closed its curtain festively. Celebrating with friends and partners, ELNAVI chose @thegrazingtableathens from Pepper & Sugar with the talented chef Pavlos Sfikakis and the wine of the architect / art designer of our stand Sara Oikonomou.
During the event Stefanos Papandreou and Theano Kalapotharakou co-publishers thanked the distinguished guests and friends of ELNAVI saying: “On the occasion of our 50th anniversary edition, would like to extend our deep appreciation to all our partners of the magazine who have contributed their best in the 50 year course of the publication and we would like to thank our readers and advertisers who have supported us in all shipping market conditions.
Last but not least we also express our respect and gratitude to our predecessor Elias Kalapotharakos, founder of ELNAVI who have taught us the values of journalism which include responsible and accurate updating.
We continue our uninterrupted 50year activity inspired by the Greek shipping achievements and our duty for the future generations”.

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Despina Panayiotou Theodosiou, Co-CEO of Tototheo Maritime™, and a prominent figure in the maritime industry, has been honored with the inaugural “Gender Equality Award" by the International Maritime Organization (IMO).
The candidacy of Ms. Panayiotou Theodosiou for the Gender Equality Award was submitted by the Cyprus Shipping Deputy Ministry last July. The results were announced yesterday during the 130th Council Session of the IMO. It was emphasized that Ms. Panayiotou Theodosiou embodies the essence of this award, significantly contributing to the promotion of gender equality in the maritime sector through her work and actions.
In an announcement Cyprus' Shipping Deputy Minister, Ms. Marina Hatzimanolis, congratulated Ms. Panayiotou Theodosiou for the prestigious accolade. She commended her notable achievements and unwavering commitment to advancing gender equality in the field of shipping, setting a significant benchmark for excellence in the industry.
In her statement, Ms. Panayiotou Theodosiou said that it is an immense honour receiving the award, and extended her gratitude to the President of the Republic of Cyprus, Mr. Nikos Christodoulides and the Shipping Deputy Minister, Mrs. Marina Hadjimanolis, for submitting and supporting her nomination. She also expressed her dedication to the continuous promotion of gender equality within the maritime community.
“Over the last 10 years raising awareness of the incredible work women are undertaking within the maritime industry and the importance of gender diversity, equity and inclusion have been a key focus for me on both a personal and professional level. During my time as President of WISTA International it was a privilege to be part of the driving force behind many of the initiatives related to advancing gender equality within the industry, and when I look at what has been achieved I feel an immense sense of pride for being able to play my part in bringing about change. With that said, we still have a long way to go, and I’d like to take this opportunity to encourage everyone to continue to break down the barriers, acknowledge the need for change and work together to create a more inclusive and diverse maritime industry.”
The IMO Gender Equality Award aims to recognize individuals, regardless of gender, whose contributions significantly promote gender equality and empower women in the maritime industry.

image: Despina Panayiotou Theodosiou, Co-CEO of Tototheo Maritime with Cyprus' Shipping Deputy Minister, Ms. Marina Hatzimanolis

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HEMEXPO – Hellenic Marine Equipment Manufacturers and Exporters – has appointed a new Board of Directors following the association’s General Assembly Meeting on Tuesday 21 November.
After completing the bi-annual election process, Mr Konstantinos Fanouriadis, CEO of FARAD S.A., Mr Athanasios Athanasopoulos, CEO of UTECO ABEE and Mr Ilias Mallios, Export Manager of SeaBright S.A. were re-appointed to the board, joined by Mr Stefanos Chartomantzidis, Chief Commercial Officer of Prisma Electronics. All four will assume the title of Vice-President of HEMEXPO.
HEMEXPO is a leading suppliers and exporters association for the shipping sector, which has supported Greek marine equipment manufacturers and technology specialists since 2014. The Board of Directors, which is led by HEMEXPO President, Mrs. Eleni Polychronopoulou, is responsible for setting the association’s direction, supporting members and raising awareness of the Greek marine manufacturing industry at both a national and international level.
HEMEXPO President, Mrs Polychronopoulou, said: “I am delighted to confirm Mr Fanouriadis, Mr Athanasopoulos, Mr Mallios and Mr Chartomantzidis as members of the Board of Directors for HEMEXPO. Moving forward the Board of Directors will be responsible for continuing HEMEXPO’s initiatives relating to promotion, as well as Research and Development, but also for undertaking new actions to address the challenges that are unique to the manufacturing, shipbuilding and repairs sectors.
“As an association of leading Greek marine equipment manufacturers, our goal is to continue to develop new and innovative products to address evolving industry needs, while at the same time using our collective strength to build lasting international and local partnerships. After another excellent year for HEMEXPO, I am confident that our Board of Directors will continue to excel in achieving the association’s objectives and supporting our members”.
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: Mrs Eleni Polychronopoulou, President of HEMEXPO

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The Propeller Club, Port of Piraeus, and the American-Hellenic Chamber of Commerce successfully organized their joint Thanksgiving Dinner, on Monday, November 20^th, 2023, at the Athenaeum Intercontinental Hotel. 
Both organizations share a common objective of promoting the bilateral relations between Greece and the United States, as well as strengthening the friendship and cooperation between the two nations. 
Graced by the esteemed presence of the U.S. Ambassador to Greece, George J. Tsunis, the event was a resounding success, having been attended by 450 distinguished guests from the shipping, commercial, and industrial sectors, including notable representatives from both organizations.
In his address, Nikolaos Bakatselos, the President of the American-Hellenic Chamber of Commerce, referred to the profound meaning of Thanksgiving and emphasized the significance and value of this cherished holiday. Additionally, he highlighted the strong and unbreakable bonds that exist between the nations of Greece and the United States, which serve as a constant source of strength and reassurance not only for the present, but also for the future that lies ahead.
The President of the Propeller Club, Port of Piraeus, Costis Frangoulis, stressed the significance of the annual Thanksgiving dinner as a longstanding tradition, while he expressed his gratitude for the Propeller-AmCham partnership, which aims to strengthen the Greek-American bond and promote cooperation between the two countries. The President also highlighted the achievements of Greek shipping on a global level. “We are thankful and proud that our country remains the world’s leading maritime force. An inspiration for all the Greeks. A great example that we can thrive and lead the way internationally, in other sectors too.”
Addressing the guests, U.S Ambassador, George J. Tsunis, referred to Democracy and immigration. "By living in Athens, you realize how lucky you are to live in a place like Greece, or to live in a place like the USA. They are both democratic countries.”
The Ambassador discussed about how the USA drew upon the democratic principles of ancient Athens to establish its political system. “Thousands of years ago, for the first time, people made a political system not perfect, but the best that has ever been created in the history of mankind. A political system based on as many freedoms as possible for the citizen. And we must be grateful for the Ethos of the ancient Greeks." 
Courtesy of the American Farm School, 10 complimentary turkey coupons were given at the event. 

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Ship design, particularly the design of bulk carriers, presents particular challenges when it comes to the decarbonisation of existing vessels, a forum of INTERCARGO members and guests in Athens has heard.
Welcoming more than 200 attendees to the event entitled ‘Solutions for Sustainable Dry Bulk Shipping’, INTERCARGO Chairman Dimitris Fafalios advised: “Shipping is an extremely wide term covering both tramp and liner sectors. Our sector, that of dry bulk carriers, presents special challenges to decarbonisation due to its non-regular, itinerant nature, serving more ports and more anchorages in the world than other sectors.
“The design of our bulk carriers, especially the smaller geared vessels, present a cargo section forward of the engine room bulkhead where deck tanks for alternative fuels cannot be located. In addition, the deck cranes leave little room for the increased storage volumes required by alternative, low carbon or zero carbon fuels.”
The high-level evening seminar, held at the Stavros Niarchos Foundation Cultural Center and supported by @TECHNAVA, explored the real-life technical and operational solutions that can assist dry bulk operators to move forward on their decarbonisation journey. Speakers included representatives from Nihon Shipyard (NSY) in Japan, one of the world’s leading bulk carrier builders; engine maker WinGD, who shared their experience with engines designed for ammonia and methanol; leading marine technology firm Alfa Laval; and Oldendorff Carriers, an active INTERCARGO member who reviewed the commercial impact of the imminent EU-ETS scheme. Each presentation was followed by a lively Q+A session where many participants shared their thoughts, concerns and experience.
Sessions were moderated by INTERCARGO Technical Committee Vice Chairman, Dimitris Monioudis whilst the association’s Vice Chairman Spyros Tarassis and members of INTERCARGO’s Secretariat were on hand to welcome attendees.
Mr Fafalios commented: “It was exciting to have so many INTERCARGO members present at this important meeting. Dry bulk ship owners are keen to play their part in helping to meet shipping’s ambitious decarbonisation goals and events like this enable us to share knowledge and experience.”

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