The start of the operation of the floating natural gas storage unit (FSU) installed by DESFA in Revithoussa is marked by the unloading of the first LNG cargo by MYTILINEOS.
The transshipment of the over 140,000 m3 LNG cargo at the FSU “GASLOG ATHENS” that DESFA has leased by GASLOG is being completed within the next days with a Ship-to-Ship (STS) unloading process from the vessel ARCTIC PRINCESS, which arrived in the gulf of Megara for this purpose. This is the first time that the specific procedure is being carried out in Greek territorial waters, while the specific cargo is intended to cover part of the strategic reserve that must be kept by power generation units that are not able operate with an alternative fuel. This obligation concerns the period from 1 November 2022 to 31 March 2023, according to the provisions of the Preventive Action Plan approved by the Greek Regulatory Authority for Energy (RAE).
The addition of the new floating tank was implemented in a record time following close cooperation between DESFA and the Ministry of Environment and Energy, the Ministry of Maritime Affairs and Insular Policy, as well as RAE, with the aim of strengthening the energy security of the country in view of the winter and in light of international developments. The operation of the FSU, moored 700 meters from the terminal, increases the storage capacity of the LNG Terminal of Revithoussa from 225,000 m3 to approx. 370,000 m3 LNG in total, an increase of around 70%.
In addition, it offers the LNG facility extended flexibility in terms of receiving and unloading LNG cargoes, since it is now possible to simultaneously unload two LNG carriers (at the Revithoussa jetty and the floating unit), thus optimizing the country's LNG supply chain and ensuring the required reserves for the smooth supply of the market during the coming winter.
The CEO of DESFA, Maria Rita Galli, stated: “The start of the FSU’s operation in Revithoussa with the unloading of the first cargo by MYTILINEOS is a very important milestone that comes as a result of an exemplary cooperation, under pressure, with the relevant market players whom we would like to thank.  We are satisfied that through our high technical expertise and our network, we are contributing significantly with yet another infrastructure to ensuring the country's security of natural gas supply for the coming winter, while, at the same time, we are further strengthening the strategic role that the LNG Terminal of Revithoussa plays in the wider region of Southeast Europe".

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Implementing an ambitious new building program Capital-Executive Ship Management Corp. has added to its fleet the newbuilding C/V Manzanillo Express, a 13,300 TEU container vessel. This vessel is the largest reefer ship ever built by Hyundai Samho Heavy Industries, with a carrying capacity of 2,220 reefers, and an overall capacity of 65,000 tons of reefer goods.
Applying cutting edge technologies aimed at reducing the vessel’s environmental footprint, “Manzanillo Express” combines enhanced ‘green’ features, which result into more than 35% lower energy consumption and reduced carbon emissions and more than 85% reduction of certain harmful emissions (NOx & SOx), compared to older container vessels of similar capacity. The vessel will operate to the highest operational environmental standards, including full compliance with IMOs EEDI Phase 3, with the ability to run on Tier III mode together with the hybrid scrubber that is installed. The vessel is also dual fuel LNG ready and has a full alternative maritime power system installed (AMP), also known as “cold ironing.
About Capital-Executive Ship Management Corp.
Capital-Executive Ship Management Corp. currently operates a fleet of 40 vessels including 36 container carriers and 4 modern bulk carriers with a total dwt of 2,915,834 tons and total teu of 180,363 approx.
The fleet under management includes vessels of Nasdaq-listed Capital Product Partners L.P.

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International Registries, Inc. and its affiliates (IRI) continue to expand resources to provide strong support to the Republic of the Marshall Islands (RMI) fleet throughout Asia and the world. With 11 offices in the Far East, including Busan, Dalian, Hong Kong, Imabari, Manila, Qingdao, Seoul, Shanghai, Singapore, Taipei, Tokyo, and bridge support from Vancouver and Long Beach, IRI provides comprehensive administrative and technical support to the RMI Registry throughout Asia and beyond.
Since 2007, IRI’s Tokyo office has provided marine safety, technical, and operational services to shipowners and operators in Japan. As of 30 September 2022, the RMI fleet stood at 193.8 million gross tons, and 7.4% of that tonnage is Japanese owned or operated. Japan is recognized as one of the largest ship owning and shipbuilding nations in the world.
“Our long-term presence in Japan supports one of the largest and most dynamic shipping industries in the world,” said IRI President Bill Gallagher.
“We have long-term relationships built upon decades of trust and respect, and as Japan has made a significant commitment and investment to a sustainable shipping future, we have strategically placed our resources to provide technical, administrative, and operational support to our owners and operators as they invest in decarbonization technology,” he continued.
Mr. Masaharu Okamoto became IRI’s chief representative in Tokyo in 2007, providing local representation and services to Japanese owners and operators flying the RMI flag.  
“Confidence in the RMI flag grew significantly once the office opened and the local market recognized the high-quality services and support the Registry provides,” noted Mr. Okamoto.
“The RMI Registry was the first foreign flag to open full technical and administrative services in Japan and it quickly expanded in 2011 opening a second office in Imabari,” he continued.
Mr. Okamoto works closely with other regional offices as a broad and strong network of services throughout Asia.
“Our offices in Asia offer support to a large amount of RMI flagged vessels trading in the region,” noted Annie Ng, Head of Asia.
“Hong Kong and Manila handle almost a third of the global seafarers’ documentation production for the fleet,” she continued.
This level of production is supported by more than 100 IRI employees across the Far East who provide not only seafarer documentation, but also technical and fleet operation support, business development and client services, and more. Recent renovations to the Manila office and newly established offices in Qingdao and Vancouver demonstrate the Registry’s commitment to the region. Hong Kong, with 28 team members, is the largest office in Asia, followed closely by Manila and Singapore.
After 20 years based in Hong Kong, Ms. Ng opened the Registry’s Vancouver office earlier this year as a bridge between business hours in Asia and IRI’s headquarters in Reston, Virginia.  
“Several decades ago, we made a significant commitment to our owners and operators in Asia,” noted Annie Ng. “We continue to enhance our local resources and services to help them best position for the future,” she concluded.

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Leading Greek shipping executives gathered at the unique FONDAZIONE Spyros Loverdos Library  for the annual meeting of the Lloyd's Register (LR) Hellenic Advisory Committee have called for further collaboration among supply chain stakeholders to address energy transition challenges, while raising awareness on marine and offshore industry efforts to reach net zero, with many in the room stressing that delivering on these ambitions relied on enhancing the efficiency of ships already on the water. 
“As we strive towards reducing the longer term emissions from shipping and the move to low and zero carbon fuels we must not lose focus on what can be practically implemented today on the world’s existing fleet.  Greece, as the home of the largest fleet and the dominant supplier of tramp trade, is perfectly placed to lead on this focus and scale the practical steps that can be taken to further improve the energy efficiency of existing ships.  Lloyd’s Register has heard the call from the Greek Prime Minister and intends to work with Greek Shipping to establish Athens as an implementation centre for the energy efficiency of existing ships” LR Chief Executive Officer Nick Brown told Committee members attending the meeting. 
HAC members were joined by the Member of European Parliament, Maria Spyraki, who spoke on the role of policy makers and regulatory certainty in shipping’s energy transition. Referring to EU proposed measures, she also underlined the importance of security of the energy supply chain and the need to foster investments.  
Sharing charterer’s perspective, Nicholas Logan, Cargill’s Asset Deal Originator talked about his organisation’s proactive and agile approach towards decarbonisation, focusing on existing technologies applications to deliver immediate reductions in emissions, working to scale up wind and biodiesel in the mid-term, and collaborating to explore the long-term solutions that can get the shipping industry to net zero. 
During the meeting, LR experts shared updates on new construction trends, how the drive for alternative fuels is impacting ship design as well as the current projects of LR’s Maritime Decarbonisation Hub in addressing energy transition challenges. There was a lively debate among the Committee members around the role and uptake of carbon capture. There was also much emphasis on digital solutions and the importance of data in helping meet decarbonisation targets and transform operations.   
“LR Greece is reaching new heights, focusing on clients’ needs, investing in people and technologies, transforming inclusivity. This is an important part of LR’s transformation in Greece, as it provides the implementing steps to position the organisation for the future challenges,” said Theodosis Stamatellos, LR’s South Europe Regional Manager. “This meeting sent a clear message that collaboration with stakeholders across ocean economy comes on top of everything we do towards the energy transition,” he concluded. 

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Online presentation of PPA S.A. for its activities in issues of the environment, corporate governance and society, was held in the framework of the China International Import Expo - CIIE in Shanghai, where PPA participates with an exhibition booth. In addition to the executives of the Company, market professionals as well as the Sustainability Officer - Project Manager of TAIPED, Mrs. Maria Christantoni, participated in the event.
At the beginning of the presentation, an extensive report was made of the very good financial results of the Company in 2022 as well as of the investments that have been made.
However, as mentioned, the Company's goals are not limited to improving financial indicators, but also include:
– The development of business activities with respect to the environment
– The welfare of the employees
– The concern for dealing with climate change
– The reduction of CO2 emissions
– Energy efficiency and its energy transition according to the new energy production and storage data and also the protection of water, the waste management and other.
All the above issues are adequately analyzed and presented thoroughly in the ESG Report published for fourth consecutive year by the Piraeus Port Authority S.A. It includes detailed information and a systematic presentation of the Company’s efforts, developments and achievements in the fields of environment, society and corporate governance and is available on the Company’s website www.olp.gr

About PPA S.A.
Piraeus Port Authority S.A. is an Athens Stock Exchange listed company engaged in the management and operation of Piraeus port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as general cargo, ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world.
Over the last decade the company has experienced a remarkable growth in all port activities, which is still underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to the society.
PPA holds the "ECO PORT" PERS status, is included in the Athens Stock Exchange ESG index and is one of the “Most Sustainable Companies in Greece 2022”.
For more information please visit: https://olp.gr

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Attica Group, the parent company of SUPERFAST FERRIES, BLUE STAR FERRIES and HELLENIC SEAWAYS, has won three awards, Gold & Bronze, in the GREEK HOSPITALITY AWARDS 2022 organized by ETHOS MEDIA.
The official announcement of winners took place on Friday, October 21^st 2022 and Attica Group was honored with the following awards:
Gold Award in category «Best Greek Coastal Shipping Company»
Gold Award In category “Best Internet Sales Channel”
Bronze Award in category «Best Digital Advertising and Performance Campaign»
Attica Group was voted as the top Greek Coastal Shipping Company, maintaining its leading position in Greece and in Europe whereas at the same time was rewarded for its decision to introduce digital media in the dynamic promotion of its services, resulting to a leading presence in digital communication as well.
Attica Group is engaged in passenger shipping through SUPERFAST FERRIES, BLUE STAR FERRIES, HELLENIC SEAWAYS and AFRICA MOROCCO LINK operating 35 vessels providing modern, high-quality transportation services in Greece and abroad. Attica’s vessels serve 60 unique destinations in 4 countries, connecting 71 ports transporting over 7 million passengers, 1 million passenger vehicles and 400,000 trucks every year.

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In September 2022, head-haul and regional export volumes were down 9.3% y/y according to Container Trade Statistics. Head-haul trades fell 15.5% whereas regional trades were down 0.7%. At the same time, volumes were 0.2% lower than in September 2019. The volume decline represented the first month since June 2020 to see lower volumes compared with the same month in 2019 and could be a warning that laid up ships and further freight rate reductions are on the horizon.  
 “In September 2022, head-haul and regional trade volumes were lower than in 2021 into all import regions except the Far East. Remarkably, volumes into North America, which led the surge in volumes during COVID, saw the greatest loss at -20.6% y/y,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO. 
For container shipping the head-haul and regional trade volumes are the key drivers of ship demand and profitability. A head-haul trade is the direction of an interregional trade with the highest volume, such as Far East to North America. A regional trade is an intraregional trade such as within Asia. During 2021 and 2022 the head-haul and regional trades have also been the drivers of port congestion, which further increased ship demand and tightened the supply/demand balance in favour of the liner operators. 
Transpacific eastbound volumes fell 24.5% y/y and contributed with just shy of 50% of the total drop in head-haul and regional volumes vs. 2021. In 2021, September volumes were up 27.4% on 2019 but are now 3.8% lower.  

Declining volumes, growing fleet

In total, volumes in September were 1.1 million TEU lower than a year ago and 20 out of 28 region-to-region trades showed negative growth. At the same time, 13 trades recorded lower volumes than in September 2019. Out of the top 10 region-to-region trades which cover nearly 90% of all volumes, the trades into Europe are unsurprisingly doing the worst compared to 2019. The Far East-Europe trade was down 18.8% while the Intra Europe trade declined 11.5%. 
The abrupt slowdown in volumes to North America and Europe comes after 9-12 months of the fastest increase on record in business inventories in both the US and the EU. It is therefore likely that the lower volumes reflect a need for businesses to both trim inventories and adjust ongoing imports to expected lower sales as prolonged high inflation is taking a toll on consumers and businesses.
“No matter the reason for the low volumes, at this level of volumes, the remaining congestion that has helped to prop-up the supply/demand balance should dissipate quickly. The liner operators will then be left with lower volumes than in 2019, a fleet that has grown 11.8% since then, an orderbook set to add 9.9% to the fleet in 2023, and poor prospects for the global economy. EEXI and CII regulations may absorb as much as 10% of the fleet in 2023, but unless the markets surprise positively, we must still expect to see numerous laid up ships or freight rates that continue to move quickly downwards, or both,” says Rasmussen. 

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Greek shipping is not only dominant in controlling the biggest fleet in the world but also in the field of female maritime executives.
WISTA International (Women's International Shipping and Trading Association) elected their new President, Elpi Petraki, from WISTA Hellas, at its Annual General Meeting, on 26^th October, in Geneva, Switzerland who succeeded Despina Theodosiou, another one distinguished Greek-Cypriot woman from the maritime field.
The nominees for the position of President were Elpi Petraki, WISTA Hellas, and Alexandra Anagnostis-Irons, WISTA USA.
WISTA International consists of 56 National WISTA Association (NWA) and each one is represented by the President or a delegate at AGM and casts their vote for their country's choice for the President.
Newly elected President of WISTA International, Elpi Petraki, Operations, Chartering & Business Development Manager at ENEA Management, declared: "I am truly honoured to have been elected as President of WISTA International. Diversity and inclusion in maritime have never been in the spotlight like today and whilst much has been achieved in recent times, there is still a great deal to be done. WISTA International has a powerful voice that must be heard, continuing to raise awareness for the incredible contribution women make to the industry.
I look forward to working with the WISTA NWA's and other international bodies to address how our organisation can support evolving objectives - such as decarbonisation, digitalisation and attracting new talent – and provide equal and equitable opportunities for all."
The former President of WISTA International, Despina Theodosiou, with a five-year term and two consecutive mandates between 2017-2022, had a standing ovation at the AGM meeting. Following the new president's announcement, she addressed the WISTA members and spoke about some of the highlights during her time as president.
"After five years, the time has come for me to hang up my hat as President of WISTA International. First, I'd like to say a huge thank you to the other members of the WISTA International Executive Committee, who have provided a tremendous amount of support over the years. Secondly, I'd like to express my sincere gratitude to the Presidents of the 56 National WISTA Associations for entrusting me to continue to deliver WISTA's mission. It has been a pleasure to work with you all.
WISTA is committed to creating change. Looking back at the work we have achieved within WISTA International, we have made every opportunity to encourage that change and level the playing field for everyone. As President, I had the privilege of working with many organisations to help identify solutions and promote the benefits diversity can deliver, including the International Maritime Organization, APEC SEN, Maritime SheEO and the International Chamber of Shipping.
WISTA was one of the founding partners of the European Commission's Platform for Change and in 2018, we secured Consultative Status with the IMO. This was a significant moment for WISTA International, allowing us to formally contribute to discussions related to increasing capacity within the maritime industry by showcasing the incredible work women are undertaking and providing the opportunity to discuss diversity, inclusion and the empowerment of women with the administrations responsible for shaping global maritime regulations.
WISTA has been working closely with the IMO to promote greater diversity and inclusion in the maritime industry, which has seen the two organisations collaborate on several initiatives, including the first Women in Maritime Survey. Furthermore, over the last five years, WISTA membership has continued to grow. The number of NWAs has increased from 39 to 56, with new representation established in parts of the world that are more challenging for women. This is down to the incredible amount of work and energy NWAs all around the world have put into addressing industry challenges, supporting others in the sector and being advocates for change. We should all be immensely proud of what we have achieved over the years, especially in light of the challenges faced during covid. WISTA and the drive to create a more diverse and sustainable maritime sector will continue to be a key focus for me moving forward, but for now, it's time to pass on the baton to the next President of WISTA International Elpi Petraki and I wish her every success in her Presidency."
The Nominations Committee also announced the new Secretary of WISTA International at the AGM. The candidates for this position were Yasmina Rauber from WISTA Switzerland and Jemilat Mahamah from WISTA Ghana, who was elected.
For the position of ExCo Member, there were three nominees: Dafne Anghelidis representing WISTA Argentina, Raimah Chowdhury (WISTA Bangladesh) and Ify Akerele, WISTA Nigeria. Dafne Anghelides and Raimah Chowdhury were elected as WISTA International ExCo members.

Caption: Elpi Petraki, the new president of WISTA International
Caption: Despina Theodosiou, the former president of WISTA International

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Capital Ship Management Corp. added to its fleet the newbuilding vessel M/T ‘Alterego’, a 300,000 dwt, eco-type crude oil, scrubber fitted VLCC tanker, built by Hyundai Samho Heavy Industries, South Korea. It is the second of two ammonia and LNG fuel ready sister ships delivered in 2022.
The vessels are Tier III compliant for reduced Nox emissions, assigned ABS ENVIRO notation as well as ABS Ammonia Fuel Ready and LNG Fuel Ready Notations and equipped with IHM notation for safe recycling, thus becoming two of the most environmentally friendly, technologically advanced and efficient vessels in the global VLCC fleet.
About Capital Ship Management Corp.
Capital Ship Management Corp. operates a fleet of 39 tankers (12 VLCCs, 15 Aframaxes, 11 MR/Handy product tankers and 1 small tanker) with a total dwt of 5.95 million tons approx. Capital has extensive experience in managing various vessel types and sizes including all tanker segments (VLCC, Suezmax, Aframax/LR2, Panamax/LR1, MR/Handy and small tankers), dry bulk segments (Cape, Panamax, Handymax and Handy), as well as OBOs and containers.
You can see vessel video here 

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During Maritime Cyprus 2022, maritime learning and operational technology company, Ocean Technologies Group (OTG), signed a new cooperation agreement with Safe Bulkers Management Ltd. and Safety Management Overseas S.A, the managers of Safe Bulkers Inc., with the aim of helping their pool of seafarers to focus on their learning and assessment needs.
Safe Bulkers is a leading international provider of marine dry-bulk transportation services and it will implement the Ocean Learning Platform (OLP) initially on a pilot basis and then gradually introduce it to the entire fleet.
The OLP will provide a wider range of interactive maritime learning solutions, as well as introducing new tools for competence management and crew assessment. The system will build and schedule Safe Bulkers' Managers seafarer training matrices and provide advanced digital performance appraisals and reporting tools which will assist in evaluating results, identify specific needs, aim for continuous improvement and, at the same time, fully address all industry and customers' requirements.
OTG's "Ocean Learning Platform” will power the company’s learning and assessment requirements giving Safe Bulkers access to OTG’s Seagull, Videotel, Marlins and MTS training brands. 
Safe Bulkers believe that this transition will represent a significant improvement in their operations with seafarer training information and data flowing seamlessly, easily integrating with their platforms and enhancing their digitalisation strategy even further.
"We are excited to strengthen the partnership between Ocean Technologies Group and Safe Bulkers and look forward to fully integrating their system to our crew training operations,” stated Dr Loukas Barmparis, President of Safe Bulkers Inc.
"We’re delighted that Safe Bulkers has decided to implement the OTG platform. We believe that our platform provides the broadest and most comprehensive range of maritime specific digital learning and assessment solutions available today and which will equip their seafarers with the knowledge and resources they need to comply with increasing industry and ESG expectations. We look forward to building and enhancing our cooperation with Safe Bulkers,” said Apostolos Poulovassilis, Director at OTG.

Image: l-r Apostolos Poulovassilis, Director (Greece) at OTG shakes hands with Dr Loukas Barmparis,  President of Safe Bulkers Inc.

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