The President, Union of Greek Shipowners Melina Travlos, on the occasion of the deadly attacks on ships of Greek interests, made the following statement on maritime safety: “We are deeply saddened by the tragic loss of on-duty seafarers and by recent attacks on vessels crucial to global trade and supply chains.

The weaponizing of shipping economically, politically and physically, directly undermines international security and global prosperity.

Defending freedom of navigation is a collective responsibility and a cornerstone of peace, stability and humanity. The seas must be open, free, safe, and secure.”

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Seaven Tanker & Dry Management marked a significant milestone in its progression as the company acquired its 20th vessel. This achievement highlights the company’s unwavering commitment to growth and excellence in the maritime sector.

Seaven's fleet includes modern, medium-sized oil and chemical tankers as well as cement carriers. Each vessel is double-hulled and outfitted with the latest technological advancements, ensuring high standards of safety and efficiency. Significantly, fifteen of the twenty vessels now operate under the Greek flag, reflecting company’s dedication to bolstering the Greek maritime community. The fleet primarily operates across the Mediterranean, Black Sea, and Northern Europe, serving leading oil majors and esteemed cement companies. The company is a proud member of numerous national and international organizations, including Intertanko, Intercargo, Bimco, the Hellenic Chamber of Greece, the Union of Greek Shipowners, the Hellenic Shortsea Shipowners Association and Helmepa. In 2018, Seaven made history as the first company globally to achieve certification from the Green Award Foundation for vessels under 10,000 DWT, firmly establishing its commitment to sustainable shipping practices.

Based in the heart of Piraeus, Seaven continues its journey toward the "seven seas of the world," as its name suggests. The company is dedicated to evolving its dynamic presence in international maritime transport by investing in innovation and cultivating strong relationships with partners. At the core of its strategy are the safety of its cargo and personnel, alongside environmental protection and a commitment to Greek maritime tradition.

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In today’s volatile and unpredictable environment, the long term and trusted relationships are more important than ever especially in the shipbroking sector.

At these challenging times the 9th global Symposium organised by the Hellenic Shipbrokers Association gave the opportunity to discuss the latest developments and share experiences within the shipping industry on the new regulatory and geopolitical developments.

The event took place at the Piraeus’ “Peace and Friendship” Stadium and was addressed by John N. Cotzias, President Hellenic Shipbrokers Association, Vasilis Kikilias, Minister of Maritime Affairs and Insular Policy and Mark Jackson, CEO Baltic Exchange.

The session 1 examined the following topics: Adapting to new realities in Shipping, Unlocking Value in an Unstable World. MODERATOR was Mr. Matthew Cox, Head of Benchmark Production Baltic Exchange with the following panelists: Angelica Kemene, Head of Market, Climate & ESG Strategy, Optima Shipping Services, Νicholaos Zannikos, Shipping Analyst AXSMarine, Vassilis Mouyis, Founder Doric Shipbrokers S.A., Yiannis Parganas, Director of Research Department Intermodal Shipbrokers.

The speakers commented on Geopolitical Shifts. They said: “All stakeholders in shipping require transparency and integrity as Geopolitical and tariff uncertainty and regulatory changes create an environment of confusion.

Regional and global regulations must be aligned giving the chance to invest in retrofit and new technologies which require considerable amount of capitol building ships equipped for the future. After all Uncertainty is the only certainty in shipping. In this landscape trade will find ways to facilitate the needs of the community.

New opportunities arise investing on new efficient ships”.

The 2nd panel of speakers discussed the following topics From Boom to Balance: Recalibrating the Bulk Carrier Sector, Aligning Supply, Demand, while finding Strength in Efficiency Adaptability & Innovation. The discussion was moderated by Theodore Vokos, Managing Director, Posidonia Exhibitions S.A. with PANELISTS Dr. Konstantinos (Kostas) Rokkos, Chairman & CEO TST International S.A., Alex Angelopoulos, CEO ACA Shipping Corp., Basil Sakellis, CEO Alassia NewShips Management Inc., Evangelos Chatzigiannis, Trader GMS Leadership & Lila Global Ltd., George Ousantzopoulos, COO NAVITAS Compania Maritima S.A., Nathan Roberts, Chartering Manager Range Shipping Ltd.

The speakers remarked: “We have to modernize our fleet and optimise operations as well as to train our crew on new technologies and regulatory requirements.

In fact, shipping in general have met the 2030 IMO goals in the sense that the fleet has almost doubled since 2008 and the emissions have remained at the same level. Regarding alternative fuels the speakers are not optimistic that they become a reality very soon.

However, some stock listed shipping companies have invested in research and development of alternative fuels not because they believe in them but rather because they have to be at the forefront of the innovation.

AI is starting to play a major role in shipping providing all the information for well structured decisions”.

In the session 3 the speakers referred to the future-Proofing Tanker Trade, Strategies for a Shifting Energy Landscape and Adapting Tanker Operations to a Changing World.

The discussion was moderated by George Xiradakis, Founder of XRTC BUSINESS CONSULTANTS with panelists Dimitris Koukas, President of the Association of Greek Shipping Shipbroking Companies Association, Konstantinos Koronakis, President of the Manufacturing Department at the Piraeus Chamber of Commerce and Industry, and CEO of D. KORONAKIS S.A., Pankaj Khanna, CEO Heidmar, Valentios (Eddie) Valentis, CEO PYXIS MARITIME CORP.

Commenting on the tanker market fundamentals the speakers said that we experience a driven geopolitical market. All tanker companies have amazing cash reserves because of the geopolitical implications and look forward to change and modernise their fleet to

face the future challenges. However, the oil demand is expected to incline in the 6-12 months therefore tanker companies should consider how to proceed to the immediate future.

Moreover, the clearance of the old tankers will be a very challenging task when the time comes creating a huge bottleneck as well as financial and logistic problems.

In terms of financing the companies have easier access to various sources of capital therefore for the newcomers in shipping that have a healthy and sustainable project it’s more convenient to enter the market.

At the same time the operational conditions of ships are changing so shipping companies are taking more risks than before. The last panel of speakers discussed the topic “Implication of increased environmental regulation on shipping and the market, Balancing Compliance, Competitiveness, and Cost” moderated by Martin Crawford – Brunt, Baltic Exchange Carbon Lead with panelists Angeliki Malathrona, Country Manager Redshaw Advisors Ltd., Carola Yannouli, General Manager OCEANKING S.A., Lefteris Koukoulopoulos, Regional Decarbonization Specialist DNV, Stefanos Fragkos, CEO Allied Shipbroking Ltd.

The speakers referred to the early adopters of new technologies, regarding the advantages and the pitfalls to lead the market in adopting green technologies. Better financing incentives and validating performance are some of the benefits. On the contrary a corporate model is needed and the commercial value of those technologies are not yet appreciated and supported by the charterers.

Gala Dinner

The following evening, on Friday, July 4th, the celebrations culminated in a truly memorable Gala Dinner, welcoming close to 2,000 distinguished guests from across the global maritime industry. Hosted at the Peace and Friendship Stadium, the Gala was a masterfully organized evening of elegance and hospitality — showcasing Greece’s renowned “Filoxenia” at its best.

A highlight of the evening was the historical rollback of the past 50years, and the commemoration of all past Presidents and Board Members of the Hellenic Shipbrokers Association, as a tribute to their invaluable contributions to the profession and to the Association’s journey over the past five decades. Special plaques of appreciation were awarded to three distinguished former Presidents: Michael Kokkinis (1989–1991), Captain Nick Pentheroudakis (1991–2005), Giannis Pachoulis (2005–2013). Their vision and leadership helped shape the legacy that HSA proudly upholds today.

That same evening, the public recognition and warm appreciation of the shipping community were directed toward Commander Giorgos Lykousas, Security Officer at EUNAVFOR ASPIDES OPERATION, for the important contribution of both himself and his team—demonstrated with professionalism and integrity—in safeguarding the safe passage of commercial vessels through the Red Sea, amid the unfortunately ongoing threats posed by the Houthis.

The evening culminated with the powerful live performance by KLAVDIA, the talented Greek performer and Eurovision Song Contest representative, who moved the audience with her interpretive ability and emotional rendition of “Asteromata”, as well as in a plethora of songs from Greek and international repertoire — adding a unique cultural highlight to a night already rich with pride, celebration, and maritime camaraderie.

From precise planning to warm execution, the event was universally praised as a benchmark in industry gatherings — a clear reflection of the dedication of the HSA Board, its members, and supporting partners.

As “Pireas” continues its legacy since 1995 as the premier gathering of global shipbrokers and maritime leaders, Pireas 2025 reaffirmed the vital role of Piraeus as a global maritime and shipbroking hub — resilient, forward-looking, and firmly anchored in excellence.

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Cyprus welcomes the global shipping community to unlock the future of shipping

This year’s event will focus on “Unlocking the Future ...of Shipping”, addressing the challenges and opportunities shaping the maritime industry. 

The Conference, taking place from 06 to 08 October in Limassol, will explore a wide range of key issues affecting the maritime sector. Topics will include regulatory developments, energy transition, digital transformation, financing strategies, marine insurance, crew welfare.

Following its well-established format, “Maritime Cyprus 2025” Conference will include morning panel discussions, with afternoons dedicated to networking and business meetings, all set in the welcoming atmosphere of Cyprus.

The event will host a distinguished lineup of speakers, including the Secretary-General of the International Maritime Organization, EU Commissioners and the Presidents of the ICS, BIMCO and ECSA, along with leading shipowners, maritime innovators and shipping leaders from around the world.

For the full programme visit Maritime Cyprus 2025 - Programme.

Join us, in Limassol and let’s unlock the future of shipping... Together!

Register Now for Maritime Cyprus 2025 Conference

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Coinciding with U.S. Independence Day the Propeller Club Port of Piraeus hosted a special business lunch with former U.S. Ambassador to Greece, Geoffrey Pyatt, as its guest speaker on Friday, July 4^th.

Held at the Yacht Club of Greece, the gathering brought together over 90 Members and friends of the Club, in a warm reunion setting.

The event was opened by the 1st Vice President, Danae Bezantakou, followed by a welcome address from the President, Costis Frangoulis, who spoke about Mr. Pyatt’s strong ties with both Greece and the Club. He also praised the former Ambassador’s contribution to strengthening U.S.–Greece relations, describing him as one of the most influential American diplomats to have served in the country.

In his speech, Geoffrey Pyatt presented shipping as a key pillar of the United States’ new geoeconomic and defense strategy, highlighting Washington’s unprecedented focus on the industry and sharing impressive figures from this year’s federal budget, including $28 billion in shipbuilding and strategic maritime infrastructure.

Marking the occasion, the former Ambassador was presented with the Club’s highest distinction, the Alfonse Sasseville President’s Award, in recognition of his overall contribution to U.S.–Greece relations.
The business lunch concluded with an engaging Q&A session.

Supporters of the event: Ernst & Young, Franman, and Pyli Net.

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The Institute of Chartered Shipbrokers (ICS) Greek Branch and Alba Graduate Business School held the  5th Summer School “Shipping in Action”, from July 7 to 10, 2025.

The Summer School offered an exceptional academic and experiential learning opportunity to a group of undergraduate students from Greece and abroad, combining high-level lectures, real-world company visits, and cultural experiences. Participants attended a four-day intensive programme designed to provide an overview of the commercial shipping sector, with an emphasis on current trends, environmental challenges, and strategic decision-making in maritime operations and chartering.

Epaminondas Kalinderis, Technical Director at Optimum, introduced participants to the fundamentals of shipping company operations through his session “Introduction to Shipping Management”. Dr. Alexandros Glykas, Director of DYNAMARINE Co. and Lecturer at Alba, led the session “New Technologies and the Environment”, exploring technological advancements and their relationship to sustainability and environmental challenges in modern shipping.

Simon Ward, Director of S&P at Ursa Shipbrokers S.A., presented “Buying and Selling Ships: How to Invest and Divest, and Make a Profit”, offering practical insights and investment strategies in the sale and purchase of vessels. Tino Orfanos, Director of S&P and Projects at Oceanus Tankers Ltd. and Lecturer at ICS, introduced students to the world of freight markets through the session “The Shipping Markets and Introduction to Chartering”, focusing on the art of matching ships with cargoes.

To complement classroom learning, students visited some of the most prominent shipping companies in Greece such as Angelicoussis Group, where students were introduced to the structure of one of the world’s leading shipping companies.

Danaos Shipping Co. Ltd. welcomed students for an in-depth visit that included presentations on the company’s structure, fleet operations, and the dynamic environment of liner shipping.

Last, Seaven Tanker & Dry Management Inc., welcomed students at an unforgettable visit onboard a cement carrier in Drapetsona, Piraeus, providing hands-on experience of shipboard operations. These visits offered students valuable exposure to the inner workings of modern shipping companies, helping them connect theoretical knowledge with real-world applications.

Both Alba and ICS are leaders in maritime education and professional training in Greece. Alba offers three specialized postgraduate programs in shipping, designed to meet the demands of this dynamic industry. ICS provides professional maritime education through its Professional Maritime Programme, leading to ICS Membership, a mark of professionalism and excellence for maritime professionals globally.

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Marlink, a leader in managed services for business-critical IT solutions, has signed a definitive  agreement to merge its 100% owned subsidiary Telemar Group with TNL Group, the Athens-based maritime specialist in high-quality technical, navigation, and safety services to the Greek shipping industry.
As a key component of Marlink Group’s Possibility Platform, the merged entity will be a top three player in the maritime and superyacht OT/IoT service market, with more than 250 employees providing managed and professional services.

The combined entity will allow customers to accelerate digital transformation, with smart maintenance and bridge OT security forming part of an integrated, managed services ecosystem designed to support smarter, safer, and more sustainable maritime operations.

The merger was signed and closed on 9 July 2025, marking a further milestone in Marlink Group strategy to expand its presence and capability as a provider of managed services globally. TNL’s long-standing strong position in the Greek maritime sector and its unparalleled local insight and operational excellence combines seamlessly with Telemar’s 80 years of experience serving global customer markets from its base in Italy.

The new entity will provide the following customer benefits:

• Expanded service and solution coverage to new and existing customers providing global coverage with a local presence;
• Remote bridge diagnostics for maritime customers providing time and cost-optimised maintenance;
• Enhanced safety services with annual survey and inspection of critical components simplifying compliance.
• Telemar CEO Mike Bauwens will lead the expanded operation which will co-ordinate service delivery and customer success across global offices in Europe, US and Asia with continued support from TNL’s Evangelos Andriotis and Panagiotis Spanos.

About Telemar

For over 75 years, our maritime journey has been fuelled by expertise and innovation. We’re not just a service provider; we’re your maritime partner, offering a dynamic blend of bridge electronic solutions, onboard and maintenance services. Wherever you're located, we’re here to assist in equipping, digitising and optimising your remote business operations using state-of-the-art bridge electronics, on-board and Smart Maintenance services with cutting-edge network solutions. Through continuous innovation, expertise, and applied technology, we unite systems and people with a forward-thinking approach. At Telemar, we're not just creating solutions; we’re unlocking Possibilities. Anywhere.

Image: Mike Bauwens, CEO, Telemar, Evangelos Andriotis, CEO, TNL, Erik Ceuppens, CEO Marlink Group and Panagiotis Spanos, Managing Director, TNL

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Crew members onboard a Liberian-flagged, Greek-owned ship that was attacked in the Red Sea have abandoned the vessel and were rescued, according to a British maritime agency.

The attack, which took place some 94km (51 nautical miles) southwest of the Yemeni port of Hodeidah on Sunday, was the first such incident in the vital shipping corridor since April.

The United Kingdom Maritime Trade Operations (UKMTO) said the bulk carrier Magic Seas was first “engaged by multiple small vessels” that “opened fire with small arms and self-propelled grenades”.

All of the crew abandoned the ship and were rescued by a passing merchant vessel, UKMTO said, adding that “all crew are well and safe”.

Ambrey, a private British maritime security firm, said in a separate advisory that the ship was attacked by four unmanned surface vehicles [USVs].

“Two of the USVs impacted the port side of the vessel, damaging the vessel’s cargo,” Ambrey added. The vessel Magic Seas is controlled by the company Stem Shipping.

Ambrey said the attack matched the established Houthi target profile.

A second attack on a Liberia-flagged, Greek-operated bulk carrier in the Red Sea in 24 hours has left two dead and two injured among the crew.

The ship was sailing 50 nautical miles west of the Yemeni capital, which is controlled by the Houthi rebel movement.

The vessel, Eternity C, was attacked with sea drones and skiffs off the port of Hodeidah.

The vessel is controlled by the company Cosmoship management. Two crew members were seriously wounded and two were missing, the company said, adding that armed security guards were on board.

The vessel’s bridge was hit, telecommunications had been impacted and contacting the crew was hard.

The Eternity C was en route to Jeddah in Saudi Arabia when it was struck. 

“The vessel has been attacked by multiple rocket propelled grenades from small craft. Authorities are investigating.

Vessels are advised to transit with caution and report any suspicious activity to UKMTO.

The International Association of Dry Cargo Shipowners (INTERCARGO) has condemned the recent armed attack on the Magic Seas, a bulk carrier operating off the coast of Yemen. The vessel reportedly came under fire from small boats, according to a bulletin issued by the UK Maritime Trade Operations (UKMTO) on 6 July.

INTERCARGO represents the interests of the global dry bulk shipping sector and advocates for the safety, efficiency, and environmental performance of bulk carriers worldwide.

Chairman of INTERCARGO John Xylas said:”Seafarers are not targets. “We are deeply shocked by the attack on the Magic Seas and our thoughts are with the crew. These are innocent people, simply doing their jobs, keeping global trade moving. No one at sea should ever face such violence.

“The safety of seafarers must come first. We urge all relevant authorities to act decisively to protect those at sea and uphold international law.

“INTERCARGO stands firmly with our members and all those affected.”

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Kongsberg Maritime has been awarded a significant contract by Samsung Heavy Industries (SHI) to supply integrated technology packages for nine new Dynamic Positioning (DP) Shuttle Tankers.  

The vessels are being constructed for Greek shipowner Tsakos Group and will be a bare-boat charter by Brazilian energy logistics company Transpetro, supporting offshore operations in Brazil’s pre-salt oil fields.

Each of the nine vessels will be equipped with a comprehensive suite of Kongsberg Maritime systems, reflecting the complex operational profile of shuttle tankers operating far from shore.

The scope of supply includes the K-Pos DP2 system ensuring precise station-keeping capabilities in dynamic offshore conditions. Kongsberg Maritime will also deliver its K-IMS Information Management System and the K-Chief Integrated Automation System, providing centralised control and monitoring of vessel operations.

To support propulsion and power management, the vessels will feature the AutoChief 600 propulsion control system, while the K-Gauge (CLS) tank level gauging system will ensure accurate and reliable cargo monitoring.  

A complete single Controllable Pitch Propeller (CPP) shaftline with an 8.6m propeller is also part of the Kongsberg Maritime delivery.

Together, these systems form a fully integrated solution designed to enhance safety, efficiency, and environmental performance across the fleet.

“This contract highlights the strength of our integrated technology offering and our ability to support complex offshore operations with reliable, efficient, and future-ready solutions,” said Tommy Andree Hove, Sales Director - Advanced Offshore Units, Kongsberg Maritime. “We are proud to collaborate with SHI, Tsakos, and Transpetro on this strategically important project.”

Construction of the vessels will take place at SHI’s shipyard in South Korea, with deliveries scheduled to begin in 2027.  
Image: Kongsberg Maritime will supply integrated technology packages for nine new DP Shuttle Tankers for the Tsakos Group

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The Annual General Meeting of Shareholders of PPA S.A. was held in full compliance with all applicable procedures and with a quorum of 83.56%. 

During the Annual General Meeting, shareholders were thoroughly informed on all agenda items and on the tangible results stemming from the implementation of PPA S.A.’s strategy.

It is noted that all items on the agenda were approved by a broad majority, including the Annual Financial Statements and the Distribution of Dividend to the shareholders of the Company for the fiscal year 2024 (from 01.01.2024 to 31.12.2024). The dividend amount, as proposed by the Board of Directors, was set at a gross amount of €1.92 per share, marking an increase of 43.7% compared to the year 2023.

Specifically, the key figures of the Annual Financial Report for the year 2024 are as follows:
Total revenue for the year amounted to €230.9 million, representing an increase of €11.1 million or 5.0% compared to the previous year (€219.8 million in 2023). Profit before tax amounted to €112.9 million, compared to €96.2 million in 2023, marking an increase of 17.4%, while profit after tax reached €87.5 million, up by 30.8% compared to €66.8 million in 2023.

The above financial results represent the highest performance in the history of PPA S.A., both in terms of revenue and profitability, confirming the Company’s continued growth trajectory for the fourth consecutive year.

The Chairman of PPA S.A., Mr. LIN Ji, who presided over the General Meeting, expressed his appreciation to the shareholders for their trust, as well as to the Management and staff for their continuous dedication and contribution.
In his statement, he noted: “The consistently upward trajectory of PPA S.A., as reflected in the financial results of recent years, highlights the success of our strategy for the substantial upgrade of the Port of Piraeus. Our targeted decisions regarding the port’s operation and management continue to strengthen Piraeus’ role as a key transshipment and commercial hub in the Mediterranean and Europe. With a focus on quality, reliability and efficiency, we are steadily investing in modern port infrastructure and integrated services, shaping a competitive environment that meets the evolving needs of the market. At the same time, our commitment to environmental responsibility and sustainable development remains unwavering. We invest in actions that generate a positive impact for society, the environment and local development—laying the foundation for a resilient port with consistency and long-term vision for future generations.”

Following the conclusion of the Annual General Meeting, the Company’s Management presented awards to, Mr. Yiannis Moralis, Mayor of Piraeus, and Mr. Nikos Arvanitis, in recognition of their valuable and long-standing contribution as members of the Board of Directors to Piraeus Port Authority.

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