Greek shipowner extends coverage of Orca AI's operational platform to 100% of its fleet, representing another key deal for the maritime AI pioneer.

Athens-based Ionic controls a fleet of eight crude tankers and 11 bulkers under its respective wet and dry arms. So far seven tankers have been equipped with the Orca AI platform but as part of its long-term commitment to safety and fuel efficiency, Ionic will roll it out to another recently delivered tanker and all the bulkers.

The platform comprises the SeaPod digital watchkeeper that enables unmatched situational awareness and the FleetView shoreside application that allows office-based teams to monitor navigational behaviour and support decision-making in real time.

Using advanced computer vision and real-time data analytics helps crews detect and classify targets earlier and more accurately, reducing the risk of incidents especially in congested waters and low-visibility conditions while enabling smarter, more energy-efficient navigation. This aligns directly with Ionic’s stated goal of “zero incidents, zero spills”.

“We aim to operate a fleet that not only delivers reliable transport solutions, but also continuous improvement in safety, efficiency and environmental performance. The Orca AI platform adds a powerful layer of support for our crews, helping us to mitigate operational risk," said Spyros Vlassopoulos, Managing Director at Ionic.

Feedback received from Ionic vessels has been consistently positive, especially regarding the platform's ability to track objects in challenging weather and in thermal mode, as well as overall ease of use. Ionic has also seen a marked reduction in close encounter events.

"Orca AI has been fast to address any concerns, and with their support and training we look forward to getting maximum value out of the platform," Vlassopoulos added.

Yarden Gross, CEO and Co-founder of Orca AI, said: “Ionic has a strong reputation for quality and safety, and their decision to deploy our platform fleet-wide underlines how forward-looking owners are using AI technology to promote voyage efficiency and reduce risk.”

He adds that Orca AI's core mission is to deliver meaningful value where it matters most. "By continuously updating the platform, we can help all our customers including Ionic to improve fleetwide visibility, support service excellence and safeguard seafarers, assets and cargo."

About Ionic Shipping

Ionic was established in 2009 with the aim of steadily building a vertically integrated tanker and dry cargo shipping group focused on the ownership and operation of a medium-sized fleet of high-quality, modern vessels in the tanker and dry cargo sector.

The senior management of Ionic has a deep-knowledge of technical experts with a combined experience of over 200 years and it is their objective to build a full-service team of both shore-based and sea-faring employees who will enhance the operations of the group’s fleet.

Ionic’s vessels are of the highest quality, with fuel efficiency and compliance and adherence to new regulations coming into force being always a paramount goal. The entire fleet is operated to a first-in-class standard of technical maintenance so as to minimize downtime and the risk of maritime incidents.

The company’s continuous efforts to provide value added maritime transportation solutions to its end-users has earned it a high reputation for service, quality and efficiency. Safety, Health, Quality and Environment responsibilities extend throughout the organization whilst our high ethical standards are, and always will be its core value.

About Orca AI

Orca AI is the leading maritime operations platform utilizing artificial intelligence and computer vision to achieve the most significant change across the shipping industry in centuries. The Orca AI platform empowers shipping companies to maximize operational efficiency and voyage safety for ships and fleets. With Orca AI, crew can now make rapid, data-driven decisions in congested waters or low visibility conditions, while fleet managers and operators gain unprecedented insights into their fleets’ performance.

Orca AI brings autonomous mobility to the shipping industry, having powered the world's first commercial autonomous voyage in 2022, in partnership with Designing the Future of Full Autonomous Ships (DFFAS) and The Nippon Foundation.

Headquartered in London, UK, Orca AI is trusted by global leaders including Maran Tankers, MSC, Seaspan and NYK, with more than 1,000 vessels booked with the platform.

Image: The tanker Ionic Anax

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Venergy Maritime, a company led by Vyron Vasileiadis-led expands its cutting-edge fleet of tankers portfolio by adding newbuilding orders at K Shipbuilding in South Korea.

The company has placed four orders in total in the shipyard with delivery expected between the first and second quarters of 2027.

Vyron Vasileiadis fleet will grow to six eco-friendly vessels, all equipped with the latest green technologies to meet the demands of a rapidly evolving maritime industry.

All four 50,000-dwt ships will be built at K Shipbuilding, with the first three units expected for delivery in the first quarter of 2027 and the fourth unit in the second quarter.

Venergy’s fleet will rise to six vessels as the shipowner already has in its fleet list two 2018-built 50,000-dwt oil/chemical tankers, Captain Nikos and Captain Leon, both classed in Rina.

Venergy Maritime, member of Vasileiadis Group of Companies (V Group), is a leading player in environmental services, with 80 years of expertise in port reception facilities and strong presence across the Mediterranean, Balkans and Egypt, as exclusive partner of the Suez Canal Authority.

Its operations span across waste management, alternative fuel production, renewable energy, shipping, investments and technology.

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By Anastasios Maraslis, Founder/President, Marasco Marine Ltd

In today’s volatile maritime environment, the conversation around insurance is no longer limited to premiums, clauses, and exclusions. The true battleground is risk prevention. At Marasco Marine Ltd, we firmly believe that the smartest investment shipowners can make is not in more steel, but in smarter thinking.

This belief has guided us since our founding in 1991, and it now drives our most ambitious initiative: to reshape marine insurance into a predictive, prevention-driven model—one where advanced technologies, human-centric training, and AI-powered tools converge to minimize human error, reduce downtime, and lower premiums.

From Claims Management to Claims Avoidance

Traditional insurance reacts to losses. Premiums rise after costly repairs, protracted disputes with underwriters, and long periods of vessel downtime. In contrast, risk prevention culture reverses the equation: by cutting losses at their root, owners gain not only lower premiums but also uninterrupted operations and healthier crews.

Our experience shows that even modest preventive measures yield exponential rewards. A single avoided machinery breakdown, fire incident, or crew illness can save hundreds of thousands of dollars—far exceeding the marginal cost of prevention systems.

Technology as the Crew’s Ally, Not Its Replacement

Risk prevention is not about replacing mariners with machines. It is about empowering them with tools that extend their senses and sharpen their instincts.

Some of the technologies we are bringing into focus include:

- AI-driven IoT sensors that detect vibration anomalies, heat spikes, or pressure fluctuations before breakdowns occur, turning silent machinery into “sentinels” that speak.

- Wearable health trackers that combat fatigue, a leading root cause of maritime claims, by monitoring rest cycles and preventing exhaustion before it becomes dangerous.

- Dynamic AI risk maps that fuse live weather data, piracy alerts, and satellite movements into real-time routing decisions—helping navigators avoid crises before they develop.

- Augmented reality emergency drills that replicate real stress environments, training crews to act instinctively under pressure rather than mechanically following scripts.

These are not futuristic ideas. They are here today. And when applied intelligently, they reduce claims frequency by up to 40%, improve crisis response by 30%, and strengthen the mental resilience of crews.

The Human Factor Remains Central

Despite the wave of new technologies, the most critical variable remains the human onboard. Human error accounts for up to 75% of maritime accidents. By embedding prevention culture into training, procedures, and technology adoption, Marasco Marine Ltd’s mission is to transform this liability into strength.

Our Advisors’ Board, spearheaded by seasoned experts like Mr. Harilaos Petrakakos, has outlined practical hacks and solutions for shipowners to implement immediately. From predictive maintenance to cyber hygiene, these solutions put people at the center of the equation—not as potential points of failure, but as the ultimate guarantors of safety when properly equipped.

Preparedness: The Real Discount

Premium discounts and competitive rates are outcomes, not goals. The real objective is prediction and preparedness:

- Prediction means knowing when a risk is forming before it materializes.

- Preparedness means being able to respond in a way that minimizes loss, downtime, and human suffering.

At Marasco Marine Ltd, we have seen repeatedly that the cost of prevention is a fraction of the cost of repair. And unlike repairs, prevention strengthens long- term competitiveness, ensures smoother renewals, and builds trust with underwriters who reward low-risk profiles with better terms.

A Culture of Prevention

Marine insurance is undergoing a silent revolution. It is no longer a matter of how quickly insurers can settle claims, but how effectively owners can avoid them in the first place.

By adopting risk prevention culture, supported by smart technologies and guided by human expertise, shipowners gain more than financial savings. They achieve resilience, operational continuity, and above all, a reputation for reliability in a turbulent industry.

At Marasco Marine Ltd, our promise is clear: to stand beside shipowners not only in times of casualty but far earlier—in the realm of prediction, preparation, and prevention.

* Marasco Marine Ltd, was founded in 1991, by Mr Anastasios Maraslis. Marasco is specialising in Managing Marine Risks and Risk Prevention Planning, serving the last 33 years, Ship Owners, Ship Managers and Ship Operators, with his experienced marine/ claims insurance team and the company’s Board of Advisors, Internationally Acknowledged. More about Marasco Marine at: www.marasco-marine.com

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MSC Group’s Cruise Division today published its 2024 Sustainability Report reaffirming its commitment to achieving net-zero greenhouse gas (GHG) emissions by 2050, accompanied by an independently verified Energy Transition Plan (ETP) to clearly show how it is working to achieve this ambition.

The report, now in its sixth edition, highlights milestones in environmental innovation, responsible tourism, and social impact. It reflects MSC Group’s Cruise Division’s integrated approach to sustainability for its MSC Cruises’ and Explora Journeys’ brands.

Pierfrancesco Vago, Executive Chairman, MSC Group’s Cruise Division, said: “As a family business, we do not operate ships just for tomorrow. We sail them for future generations, designed for fuel flexibility, guided by innovation, and powered by people who share our long-term vision.

“The Cruise Division in 2024 reaffirmed its commitment to advancing a bold and transparent sustainability strategy that balances environmental stewardship, social responsibility, and economic resilience.”

Report highlights include:

• · Launching of the Energy Transition Plan for the fleets of MSC Cruises and Explora Journeys, outlining interim absolute emissions reduction targets. This is a published roadmap to achieving net-zero GHG emissions from marine operations by 2050.
• · Avoiding 50,000 tonnes of CO₂ emissions through fleet-wide optimisation tools (OptiCruise and Oceanly Performance) which support real-time operational efficiency and itinerary planning.
• · An increase in shore power connections from 44 in 2023 to 142 in 2024, across 13 ports. All new ships since 2017 are shore-power ready with retrofitting continuing across the fleet, and the Cruise Division remains committed to using shore power wherever it’s available.
• · An increase in crew retention rate to 89%, up from 83% in 2023, demonstrating the commitment of the Cruise Division to employee engagement and development.
• · The formation of a Diversity & Inclusion Advisory Committee, underlining a strong commitment to workforce equity across over 140 nationalities.
• · Continued investment in destinations like Ocean Cay, where environmental stewardship has enabled marine wildlife to thrive and coral restoration is underway.
• · Whale strike prevention training for 469 key crew members in conjunction with marine protection charity ORCA to understand more about the species of whale at risk, how to identify them, and take steps to reduce the risk.
• · More than 4,500 shore excursions offered in 84 countries, including 284 “Protectours”, low-impact experiences.

The report also shows that in 2024 the fleets of MSC Cruises and Explora Journeys together carried 4.6 million guests and sailed to 341 itineraries in 90 countries.

Looking Ahead

As MSC Group’s Cruise Division looks to the future, it remains focused on scaling clean energy solutions, retrofitting existing ships, advocating for port infrastructure investments, and collaborating across the maritime sector to accelerate the global energy transition.

“There is no single solution to decarbonisation. It is a puzzle we solve piece by piece - with new technology, operational excellence, strong partnerships, and a shared commitment to move forward,” added Mr Vago.

The full 2024 Sustainability Report is available at: https://www.msccruises.com/int/sustainability

For further information:

The Cruise Division of MSC Group, the privately-owned world leader in transportation is headquartered in Geneva, Switzerland with two distinct brands - MSC Cruises, covering the contemporary and premium segments and Explora Journeys dedicated to the luxury segment.

MSC Cruises is the world’s third largest cruise line and the market leader in Europe with a strong and growing presence in North America. A global cruise brand with 23 modern ships offering cruises across five continents, guests can visit more than 100 countries worldwide with more than 300 destinations, making unforgettable memories and enjoying the finest hospitality.

Explora Journeys, launched in 2023, is the luxury ocean travel brand redefining the experience for a new generation of discerning travellers. The fleet, currently comprising two ships and expanding to six by 2028, offers effortless yet refined luxury. Guests embark on transformative journeys, connecting with the sea through exceptional itineraries that inspire discovery in all its forms.

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Last year, Benefit Software launched, for the first time, a collaboration with the Department of Shipping of the University of Piraeus and PwC, implementing the training program: “Shipping Accounting, Finance & Audit of Shipping Companies – Case Studies based on IFRS/US GAAP, using Benefit Software.”

Following positive response and feedback from participants in the first cycle of the program, during the 2024-2025 academic year, the decision was made to extend this collaboration for the current 2025-2026 academic year.

The program is offered online and is designed for both experienced professionals as well as students or graduates of economics, business administration, or maritime studies. Its aim is to provide participants with modern, comprehensive, and applied knowledge in Shipping Accounting and in specialized topics of Finance, Audit, and Taxation of Shipping Companies, enabling them to effectively respond to the particularities of today’s shipping business environment. The course lasts 105 hours, starts on September 29, 2025, and offers flexible participation, including the option to attend individual modules. Lectures are recorded and will remain available on the platform throughout the program. Upon completion, participants

receive a certificate of attendance, co-signed by all three institutions.

This collaboration bridges academic knowledge with the real needs of the shipping industry. For Benefit Software, it represents a strategic initiative that invests not only in the new generation of professionals but also in the continuous development of the industry. Through the program, participants gain access to an environment that reflects real market operations and engage with the expertise they will leverage throughout their careers.

Enroll here:

https://kedivim.unipi.gr/product/naftiliaki-logistiki-chrimatodotisi/

More info:

https://www.pwc.com/gr/el/academy/logistika-ifrs/naftiliaki-logistiki-xrimatodotisi.html

https://www.benefit.gr/online-training-by-university-of-piraeus-benefit-software

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EcoNavis Solutions has signed an agency agreement with Greece-based company Franman to distribute its Eco Boss Cap technology in Greece, Cyprus and to Greek-interests worldwide. The agreement opens one of the world’s largest commercial shipping fleets to the energy saving device.

The deal was inked after discussions at the Hellenic Institute of Marine Technology, where EcoNavis presented research on the Eco Boss Cap’s performance gains and emissions reductions.

Retrofitted to a vessel’s propeller hub, the Eco Boss Cap improves propulsion efficiency by reducing hub vortex cavitation and optimising water flow. By delivering measurable reductions in fuel consumption and CO2 emissions of between 3% and 5%, the technology supports the global shipping industry’s transition towards more sustainable operations.

Dr. Batuhan Aktas, Managing Director of EcoNavis Solutions, said: “From our first discussions, it was clear that Franman shares our commitment to environmental sustainability. With its network and deep understanding of the Greek maritime sector, the company is the ideal partner to introduce the Eco Boss Cap to the region’s shipowners. Together, we can help shipowners take meaningful steps toward meeting global environmental standards."

Founded in 1991, Franman has established itself as one of Greece’s leading Agents of shipbuilding equipment, parts and services, representing more than 200 international manufacturers. As a one-stop-shop partner, the company has equipped over 5,500 ships and today connects more than 700 shipping companies with trusted suppliers and solutions worldwide.

Franman CEO Costis Frangoulis said: “Since our formation, we have supplied our clients with equipment that is proven to deliver results. The Eco Boss Cap offers a straightforward and effective way for shipowners to improve fuel efficiency, cut emissions and save on operational costs. Our partnership with EcoNavis is an opportunity to contribute to a more efficient and sustainable shipping industry while reinforcing Franman’s role as a trusted bridge between innovation and the Greek fleet.”

The agreement also allows for potential expansion into other European markets through Franman’s wider client base.

With a shared commitment to maritime performance and sustainability, the partnership is expected to accelerate the Eco Boss Cap’s deployment across the region, supporting shipowners in meeting decarbonisation goals without compromising operational efficiency.

Image 1: Costis Frangoulis, Franman CEO

Image 2: Dr. Batuhan Aktas, Managing Director of EcoNavis Solutions

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“Greek Shipping plays a vital role for the European economy”

Focusing on the main features of the Greek fleet and its vital role for the global, European and national economy and society the Union of Greek Shipowners published its 2024-2025 Annual Report providing statistics and insights for the future of the shipping sector.

Greek shipping remains the global leader, with 5,700 vessels. The Greek-owned fleet represents 20% of the global and 61% of the European Union’s fleet. As a dominant maritime nation, Greece contributes decisively to the energy, food and supply chain security of the EU Member States, as well as of the international community. Greek shipowners are also at the forefront of the sector’s green transition, with continuous and significant investments in new vessels, fitted with even more efficient and climate-friendly technologies.

The Report further sets out the UGS’s proposals vis-à-vis major policy developments and challenges for the shipping sector, including:

• • the sector’s energy transition to decarbonisation
  • maritime security
  • EU shipping policy
  • ship financing
  • trade policy
  • human resources

In her address in the Report, the President of the UGS, Melina Travlos, states: “Over the past year, the shipping industry once again navigated waters fraught with economic, environmental, and geopolitical uncertainty, with rising tensions along maritime routes and ongoing threats to freedom of navigation. Yet, in this landscape, Greek shipping honored its responsibility as a leader.

The UGS fostered cooperation across the maritime sector and beyond, as well as the global dialogue for the adoption of realistic and fit-for-purpose policies, with a composed, clear, and strong voice”.

Also, on the international stage of energy transition, we have consistently supported feasible global solutions, rather than unilateral and regional measures that undermine the sustainability of the sector. In this context, the recent agreement at the IMO regarding mid-term measures to reduce Green House Gas emissions from ships has raised serious concerns to the sector. Although the shipping industry constructively participated in the lengthy discussions and negotiations, its pragmatic proposals were taken into account only to a small and certainly not to a satisfactory degree. As the final agreement was the outcome of a balancing act among conflicting interests and a compromise among the different priorities of the Organization’s Member States, it poses significant implementation challenges.

On the European front, it is a fact that the European Union and European shipping are interdependent, as shipping is the bedrock of food and energy security, economic sovereignty, and geopolitical stability for Europe. It is imperative that EU institutions and citizens alike consistently recognize shipping’s irreplaceable role. Competitiveness and decarbonization must be addressed as complementary forces that act in parallel and interact, with the goal of the long-term sustainability of the industry. On the national front, the foremost challenge is safeguarding and advancing our leadership in an ever-evolving global environment. At the same time, maintaining and enhancing our maritime expertise requires respect for the human-centered nature of Greek shipping, strengthening the competitiveness of the Greek flag, and transforming maritime education in line with current demands, as well as emerging digital and technological developments.

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Following a policy of continuous fleet renewal N.Y. listed company TEN ordered two eco VLCCs at Hanwha Ocean in South Korea with an option for an additional unit, to be delivered in 2027 and 2028. Concurrently with these orders, TEN proceeded with the sale of three 2007-built vessels, two handysize product tankers to related party interests as well as an aframax crude carrier to independent third parties. From the divestment of the above-mentioned vessels, TEN generated approximately $60.0 million in free cash and about $9.0 million in capital gains to be reflected in the Company's third quarter financial statements. "TEN continues its goal to address the needs of its clients by building high specification, environmentally friendly vessels while gradually divesting from its first-generation assets,” Mr. George Saroglou, TEN’s President & COO, said. "With responsible fleet growth remaining a core pillar of our tested model, TEN keeps being a one-stop shipping operation for its blue-chip clients,” Mr. Saroglou concluded.

Founded in 1993 and celebrating 32 years as a public company, TEN is one of the first and most established public shipping companies in the world. TEN's diversified energy fleet currently consists of 82 vessels, including eleven DP2 shuttle tankers, two VLCCs plus one option, one scrubber fitted suezmax vessel, two scrubber-fitted MR product tankers and five scrubber-fitted LR1 tankers under construction, consisting of a mix of crude tankers, product tankers and LNG carriers totaling approx. 11million dwt.

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According to INTERMEPA’s results of its Steering Committee elections held on 29 July 2025 Ms. Semiramis Paliou, Chairperson of HELMEPA (Greece), was unanimously re-elected Chairperson for a further two-year term, and Ms. Sadan Kaptanoglu, President of TURMEPA (Turkey), was elected Vice Chairperson. Mr. George Tsavliris, long-time Chairperson of CYMEPA (Cyprus), will now serve as Former Chairman, providing continuity and counsel.

INTERMEPA, which will celebrate its 20th anniversary in June 2026, unites the national Marine Environment Protection Associations (MEPAs) of Cyprus, Greece, North America, Nigeria, the Philippines, Turkey, Ukraine, and Uruguay. The network collaborates closely to address maritime environmental challenges through shared knowledge, joint initiatives, and global solutions.

Ms. Paliou stated: “Our strength lies in unity. Each national MEPA brings its own initiatives and volunteers, and together we have built a global force for protecting the seas, representing over a million volunteers worldwide, with hundreds of actions, educational programs and awareness initiatives, all delivering measurable results and meaningful impact. We continue this work together, stronger than ever.”

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Nasdaq listed Capital Clean Energy Carriers Corp. continues to expand its activities and perform remarkable operations in the sector of LNG/Cs and container vessels.

According to the Key Quarterly Highlights the company announced:

• Dividend of $0.15 for the second quarter of 2025
• Secured financing for two of our vessels under construction

The Company announced in November 2023 its decision to shift its strategic focus towards the transportation of various forms of gas to industrial customers, including liquefied natural gas (“LNG”) and emerging new commodities in connection with the energy transition. As a result, the Company agreed to acquire 11 newbuild LNG carriers (“LNG/Cs”) (the “Newbuild LNG/C Vessels”) and in June 2024, the Company further expanded its gas-focused portfolio with the acquisition of 10 gas carriers, including four LCO₂/multi gas and six LPG-ammonia carriers (the “Gas Fleet”). Since December 2023, the Company has also completed the sale of 12 container vessels.

The fleet consists of 15 vessels currently in-the-water, including 12 latest generation LNG/Cs and three 13,000 TEU Neo-Panamax container vessels.

In view of the announcement of its financial results for the 2^nd quarter of 2025 Mr. Jerry Kalogiratos, Chief Executive Officer of CCEC, commented: “The second quarter of 2025 marked a period of consolidation, as we continued to build upon the significant progress achieved in the prior quarter toward our strategic objectives. While we have no exposure to the spot LNG market, it is encouraging to see short-term and spot charter rates trending upward. This positive pricing environment, combined with the continued retirement of older LNG carriers, underscores the growing economic cost and regulatory pressures on legacy tonnage. We anticipate this rationalization trend to persist, further reinforcing the long-term value of our latest generation fleet.”

“Looking ahead, our growth trajectory is underpinned by the scheduled delivery of 16 gas carriers—including six latest-generation LNG carriers and ten LPG, ammonia, and LCO₂-capable vessels—over the next three years. We are pleased to have secured financing for two of our newbuilds on attractive terms, significantly de-risking our capital plan. Concurrently, we remain in active discussions with potential charterers for our open vessels and continue to position the Company as a leading U.S.-listed platform dedicated to LNG and broader gas shipping solutions.”

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