The critical issue of Port State Controls was presented by the executives of ABS who organised a seminar under the title “How to avoid Port State Detentions”.
The agenda of the seminar included a welcome note by Dhaval Mehta (Vice President, Europe Operations, ABS) and speeches delivered by Louise O’ Donell (Assistant Chief Surveyor, ABS) and Christos Nomikos (Hemisphere Lead Surveyor, ABS) who discussed PSC detentions.
Konstantinos Theocharis (Engineer II Regulatory Affairs, ABS) and Filippos Nikolatsopoulos (Area Operations Manager, Eastern Europe, ABS) presented ABS’ initiatives on PSC detentions.
ABS also focused on the Port State Control resources-key to success with Port State Inspections such as pre-arrival check lists – quarter PSC early reports – ABS and MOU Annual Report.
In addition to the above shipping companies must be prepared for solid drills, crew competence, logs (up-to-date correct), ISM, vessel condition and maintenance.
It was also mentioned that ABS’ Digital tools on PSC Detentions include:
- EU ETS Calculator. All infos are easily accessible, streamlined and tailored to ABS clients’ needs.
- Fleet status which indicated the due dates of mandatory class / condition surveys
- Regulatory Tracker that shows the upcoming statutory requirements for ships
- Regulatory world map and
- PSC Tracker which identifies inspection risks and supports keeping a clean PSC record.
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Accelleron Greece recently hosted a successful corporate event in Athens to celebrate the one-year launch of the Accelleron brand as an independent company and its global leading position in turbocharging technologies.
The event was attended by 420 shipping industry executives from over 100 companies, including representatives from technical, purchasing, operational and fleet departments, along with Technical General Managers.
“This celebration was a testament to the strong partnership between our esteemed customers and partners. We took this opportunity to express our gratitude for the trust and support that has enabled us to create joint value and long-term success. We look forward to continuing working together to create more innovative and successful solutions that will help accelerate the energy transition of marine transportation,” said John Smyrneos, Managing Director of Accelleron Greece & Cyprus who opened the event and welcomed customers to Accelleron’s first event in Greece. He concluded by expressing his confidence in the company’s ability to providing customers with the best possible service and support and maintaining its strong relationship with them.
John Smyrneos was followed by Daniel Bischofberger, CEO Accelleron, highlighting company’s commitment to sustainability and its focus on developing innovative products and services that reduce emissions and improve fuel efficiency. He highlighted the importance of Accelleron‘s research and development efforts to create new technologies that will enable the industry to transition to a more sustainable future and more especially the support it provides to its people on all levels.
“In our company, we believe that our people are the driving force behind our success and play a pivotal role in shaping a sustainable future. We are one family, and we are proud of the work we do together,“ he said.
Mr Bischofberger also referred to Accelleron‘s recent acquisition of Officine Meccaniche Torino S.p.A. (OMT), one of the world’s leading manufacturers of fuel injection systems for marine engines to reinforce its leading market position in technologies to decarbonize the marine industry.
Overall, the event provided the opportunity for attendees to connect with other professionals in the industry in a relaxed atmosphere with local cuisine and entertainment.
Accelleron is a global leader in turbocharging technologies and optimization solutions for 0.5 to 80+ MW engines, helping to provide sustainable, efficient and reliable power to the marine, energy, rail, and off-highway sectors.
Through its innovative product offerings and research leadership, the company accelerates the decarbonization of the industries in which it operates. Accelleron has an installed base of approximately 180,000 turbochargers and a network of more than 100 service stations across 50 countries worldwide (www.accelleron-industries.com).
Image: Daniel Bischofberger, CEO Accelleron / Caterina Pagoni, Corporate Communications Manager of Accelleron Greece & Cyprus / John Smyrneos, Managing Director of Accelleron Greece & Cyprus
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Imperial Petroleum Inc. (Nasdaq: IMPP) has completed the spin-off of its previously wholly-owned subsidiary, C3is Inc., the holding company for two drybulk carriers, effective June 21, 2023.
Imperial Petroleum stockholders and warrantholders received one C3is common share for every eight shares of Imperial Petroleum’s common stock (“Imperial Petroleum common stock”) owned, or in the case of holders of Imperial Petroleum’s outstanding Warrants that they have the right to purchase pursuant to Warrants owned, at the close of business on June 13, 2023 (the “Record Date”). To the extent the distribution would have resulted in any shareholder owning a fractional C3is common share, such fractional shares will be aggregated by the distribution agent into whole shares, sold in the open market at prevailing rates and the net cash proceeds from the sales distributed pro rata to each holder who would otherwise have been entitled to receive fractional C3is common shares in the distribution.
Imperial Petroleum will retain an interest in C3is Inc. through its ownership of Series A Convertible Preferred Stock of C3is Inc., which was not distributed by Imperial Petroleum in the spin-off.
About Imperial Petroleum Inc.
Imperial Petroleum Inc. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of ten vessels; five M.R. product tankers, one Aframax oil tanker, two Suezmax tankers and two Handysize dry bulk carriers with a total capacity of 744,000 deadweight tons (dwt). Imperial Petroleum Inc.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP”, respectively.
Image: Harry N. Vafias President, Chief Executive Officer and Chairman OF Imperial Petroleum Inc.
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Aiming at the safe and reliable salvage & towage operations to meet the ever-increasing needs of its customers Vernicos Scafi Tugs and Salvage Maritime Co., which is involved in Greece/East Med/Black Sea/Red Sea regions, purchased its first newbuilding tug MED-A2575 ‘’VERNICOS SCAFI III’’, one of the most modern and powerful tugs in Eastern Mediterranean. “Vernicos Scafi III” is expected to be delivered in Turkey between 4-10 September 2023, under Greek flag.
ASD ‘’Vernicos Scafi III’’, was built by Med Marine in Eregli Shipyard in Turkey, one of the most reputable shipyards in Europe. MED-2575 model belongs to RAmparts 2500W design series by Robert Allan Ltd. and it is one of the most versatile ASD tug design for ship-handling, coastal towing, general purpose or escort duties. It can deliver more than 70 tons of bollard pull. Its high power and maneuverability making it capable to provide both high quality harbor and deep-sea towage services. The tug is fitted with two MTU-16V4000M63 main engines, each developing 2,000 kW at 1,800 rpm and with two thrusters (Kongsberg/Rolls Royce). It is also equipped with FiFi 1 class fire-fighting system, capable also to provide oil recovery and escort services.
Mr. Dimitris Vernicos, Director of Vernicos Scafi, commented: Four years after we joined our forces with Scafi Società di Navigazione S.p.A (Scafi), Vernicos Scafi continues its expansion with the acquisition of its first newbuilding tug in its modern history, in order to meet the ever-increasing needs of its customers with safety and reliability. Hopefully, the Company will order more tugs in the future for projects out of Greece as well. This investment marks the transition into a new era for our company, which will further strengthen our position and will certainly add value to the fleet of our joint venture in Med Tugs.
Vernicos Scafi Tugs and Salvage Maritime Co. operates mainly in Piraeus area, but is also active in Thessaloniki, as well as in other ports (East Med/Black Sea/Red Sea, Patras, Lavrion, Mykonos and Katakolon).
Image: Mr. Dimitris Vernicos, Director of Vernicos Scafi
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DNV hosted a highly anticipated research and development (R&D) Forum, inviting stakeholders from the Greek shipping community to share and learn about the latest innovation projects. The speakers focused on zero-carbon fuels, digital twins, vessel automation and autonomy, electrification, and onboard carbon capture and storage (CCS).
The DNV R&D Forum took place on Thursday, June 22nd at the Eugenides Foundation and provided the participants to learn more about the cutting edge of maritime innovation, as DNV experts and partners presented the latest on a large range of ongoing joint R&D initiatives. These projects covered a wide range of the most important topics in the industry today, including ammonia as a marine fuel, liquid organic hydrogen carriers (LOHC), vessel automation, autonomy and electrification, onboard CCS, digital twins, and hydrogen as a ship fuel.
«With a commitment dating back to 2008, DNV’s Maritime R&D and Advisory unit in Piraeus has been actively engaged in collaborative R&D projects with industrial and academic partners,” said Chara Georgopoulou, Head of DNV Maritime R&D and Advisory Greece and Onboard CCS Manager. “These endeavours aim to develop new knowledge and expertise while generating value for DNV and our customers”. Ms. Georgopoulou also presented the DNV Guidelines for onboard CCS applications during the event.
Speakers explored the latest technological advancements and innovations Mr. Giannis Moraitakis, General Manager, Marine Project Sales South Europe at Wartsila, delivered a presentation on ammonia 2-4 and methanol fuel developments. This was followed by Mr. Konstantinos Louzis from the School of Naval Architecture and Marine Engineering at the National Technical University of Athens, who shared insights from the EU project MOSES on vessel automation and electrification.
“Fuel cells can produce clean power from hydrogen on board ships,” said Mr. Markus Rautanen, Research Team Leader for Hydrogen Applications at VTT Technical Research Centre of Finland, as part of his discussion of the SHIP-AH2OY project and LOHC. “LOHC enable the utilization of hydrogen with existing transportation and bunkering infrastructure. The SHIP-AH2OY project demonstrates the use of LOHC and fuel cells at a 1 MW scale on board”, he explained.
“The challenges posed by decarbonization in shipping have accelerated the timeline for research to materialize into practical applications,” said Prof. George Dimopoulos, an external advisor to DNV and faculty member of the School of Naval Architecture and Marine Engineering at the National Technical University of Athens, in his presentation on the applications of digital twins in the shipping industry.
“Computer modelling serves as a catalyst for delivering innovative solutions faster to the maritime sector. Through digital twins of ships and systems, ideas can be linked with mission requirements and the actual operating conditions vessels encounter throughout their lifecycle”, he emphasized. Mr. Brendan Sullivan, Associate Professor from the School of Management at Politechnico di Milano presented the e-SHyIPS project, highlighting the utilization of hydrogen as a fuel in passenger ships.
The Forum concluded with a workshop, jointly moderated by Chara Georgopoulou, addressing the gaps in the IGF code in terms of using hydrogen as a ship fuel.
Image caption: The DNV R&D forum took place at the Eugenides Foundation, June 22, 2023
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The best golf event in Greece and Cyprus, the Greek Maritime Golf Event, returns for its 9th year on September 7-10, 2023, at Costa Navarino, Messinia, with a full schedule for golf and maritime enthusiasts.
The Competition
On Friday, September 8, participants will register at 08:30 am at The Bay Course Club House to participate in the shotgun scramble, which will take place at 10:00 am at The Bay Course. The teams will enjoy their game with the imposing view of the Ionian Sea, the historic Bay of Navarino, and the picturesque port of Pylos.
On Saturday, September 9, the golf takes action at The Dunes Course in a unique landscape full of centuries-old olive trees. The shotgun scramble starts at 10:00 am with teams vying for the top three positions in the overall standings. At the same time, there will also be special awards for the individual players who will achieve the best scores in the Longest Drive and Closest to the Pin categories.
Side Actions
As every year, the Greek Maritime Golf Event has considered those who do not participate in the tournament. More specifically, non-golfers will have the opportunity to get closer to their favorite sport and learn the basic principles of the Olympic Sport alongside professionals at the Golf Clinic that will take place on Saturday, September 9, at 12:00 pm at The Dunes Course.
The surprises do not stop here for the participants, as on Friday, September 8, the tournament will welcome the participants at the Welcome Cocktail by Marine Tours, while the Prize Giving Cocktail will be held on Saturday, September 9. The Greek Maritime Golf Event will be concluded with every formality at the Prize Giving Ceremony, which will take place on Saturday at 08:00 pm. for the announcement and crowning of this year’s champions.
In the context of this year’s event, the recognized Greek PGA golfer and organizer of the Greek Maritime Golf Event, Mr. Thanos Karantzias, stated: “The best golf tournament in Greece and Cyprus, as recently awarded, returns on September 7-10. We are gearing up for another year of the great celebration of golf and maritime. We are delighted to see such a great response and participation from the maritime companies that have embraced and supported the tournament for nine years. We have prepared several surprises for this year’s event for them, and the participants should expect rich gifts. We expect everyone at the two signature courses of Costa Navarino”.
Watch here the highlights video of last year’s event: https://youtu.be/0Ky68VJI7rQ
IRI/The Marshall Islands Registry is the event’s Platinum Sponsor.
Mainline Shipping Company is the event’s Gold Sponsor.
Aegean Baltic Bank, Arrow Hellas, DNV, Marine Tours and Swift Marine are the event’s Silver Sponsors.
Miele is the Official Sponsor.
Standard Club, Poseidonia Restaurant and Grey Goose are the Official Supporters.
Under Armour is the Official Clothing Partner.
Messinian Spa is the event’s Official Beauty Partner.
Minoa Water is the event’s Official Water.
Karalis Beach Hotel, Miran, Athi Rodi and Daily Deli are the event’s Partners.
Costa Navarino, The Margi, Tsikeli Boutique Hotel Meteora, Arifakis Menswear, Iliada Sunset Suites, Namaste Boutique Apartments and Marmari Bay Hotel are the Auction Partners.
Boo Productions is the Audio Visual Partner.
Greek Maritime Golf Event is organized by Birdie Events, through an initiative of the recognized Greek PGA golfer, Mr. Thanos Karantzias. The Sports Marketing Agency of the Year of ActiveMedia Group has undertaken the event’s Golf Production.
The golf tournament is exclusively addressed to distinguished executives of the maritime industry.
Hashtags: #greekmaritimegolfevent #costavarino
Photo Credit: Greek Maritime Golf Event
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RINA and AFRY have undertaken an initial study of how the Gulf region and Europe could be linked directly with a pipeline to transport low-carbon hydrogen, a key component in climate-friendly energy and industry systems of the future. The results indicate a transformative opportunity to fully unlock the Gulf's immense potential as a cost-effective source of low-carbon hydrogen for Europe.
With abundant Renewable Energy Sources (RES) and Natural Gas reserves, the Gulf region is set to become a leading global producer of green and blue hydrogen, ammonia and other synthesis products.
The concept of a hydrogen pipeline connecting Qatar, Saudi Arabia, Egypt, and traversing the Mediterranean Sea to Europe may seem ambitious, but initial assessment indicates its feasibility. The analysis shows that a suitable pipeline configuration could transport 100 TWh or approximately 2.5 million tonnes of hydrogen annually. Moreover, by constructing additional pipelines of the same nature, the transport capacity could be significantly scaled up.
The cost of transporting hydrogen through this pipeline is initially seen at approximately 1.2 EUR/kg H2. The Gulf countries, in turn, could supply green and blue hydrogen to the economic hub of Europe at Levelised Costs Of Delivered Hydrogen (LCODH) of around 2.7 EUR/kg starting from the 2030s, decreasing to around 2.3 EUR/kg in the longer term. Recent geopolitical challenges have forced Europe to explore alternative avenues for energy security, including linking the Eastern Mediterranean and Europe by pipeline, which was investigated for the EastMed Natural Gas project. At the same time, the discussion around exporting hydrogen and its synthesis products from the Gulf to Europe is currently revolving around molecule transport by ship. These options receive EU subsidies and drive activity within the gas/hydrogen industry, but they may not be most efficient for bulk transport. A competitive and actionable pipeline project from the Gulf region in the near future could provide a viable and powerful complement.
Antonio Nodari, member of the Executive Management Team at AFRY Management Consulting said: “The collaboration between RINA and AFRY provides a unique and highly interesting view of a significant opportunity to take a step forward in the green energy transition for Europe and the MENA region. As well as understanding the opportunities, the expert team who have worked on this report have a realistic view of the obstacles that need to be overcome and have the solutions to address those challenges.”
Andrea Bombardi, Executive Vice President at RINA said: “Through the combined expertise of AFRY and RINA, this first-of-its-kind study considers routing alternatives, technical parameters and feasibility, especially for the deep-sea pipeline section, geo- strategic framework conditions and top-level economic estimates of a direct hydrogen pipeline link between the Gulf and Europe as an element of an integrated green energy and industry system across Europe and MENA. The findings of the study represent a decisive contribution to boost the hydrogen economy. Together with AFRY, we have identified a potential stable corridor to bring supply and demand together. The scale-up of hydrogen adoption goes through projects like this.”
With more than 600 consultants across 5 continents, AFRY Management Consulting works globally to address challenges and opportunities in the energy, bioindustry, infrastructure, industrial and future mobility sectors through strategic advice, forward looking market analysis, operational and digital transformation as well as M&A and transaction services. AFRY Management Consulting is ranked by Forbes and the Financial Times as a leading management consultancy, is part of AFRY, a leading global engineering and consulting group with 19,000 employees in 50 countries. www.afry.com.
RINA, leading certification company and engineering company in Italy, provides a wide range of services across the Energy & Mobility, Marine, Certification, Infrastructure & Real Estate and Industry sectors. With net revenues in 2022 of 664 million euros, 5.300 employees and 200 offices in 70 countries worldwide, RINA is a member of key international organizations and an important contributor to the development of new legislative standards.
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In view of the ratification of the Hong Kong Convention by Bangladesh, which is a principal ship recycling country The Cyprus Shipping Chamber calls the European Union to recognize approved recycling facilities.
The ratification will help satisfy the Convention requirements for entry into force and will thus lead the way for global safe and sustainable ship recycling practices with positive effects on human health, safety and the environment.
With the Hong Kong Convention officially coming into force and recognising the progress that has been made over the past 14 years since its adoption by the IMO, the Chamber considers it imperative that the European Commission adds to the European list of approved recycling facilities, any recycling facility that meets the requirements of the Convention, thus providing a level playing field for end-of-life EU flagged ships, that are now required to be recycled in a small number of recycling facilities included in the EU List, which is not sufficient to satisfy demand and geographic spread for a global industry like shipping.
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Mr. Nicolas Bornozis, Founder, President & CEO, Capital Link, Inc., was honored with the “2023 Executive of the Year Award” by HABA - Hellenic American Association for Professionals in Finance, on Wednesday, June 21, 2023, in New York, at The Union League Club of New York, in a full room with a large audience of more than 300 people, including prominent personalities of the Greek – American community. The award ceremony was held in the context of the celebration of HABA’s 39th anniversary.
HABA, the Hellenic-American Association for Professionals in Finance, is one of the premier Hellenic-American organizations in the New York metropolitan area. HABA is a not-for-profit organization established in 1982 to promote the professional and educational interests of Greek & Cypriot-Americans and Pan-Hellenes in the banking and finance industries. Over the past 30 years, HABA has had many distinguished speakers, both American and international, in the receptions, lectures, and seminars it has organized. Its current active membership consists of over 200 professionals representing more than 50 institutions across the financial spectrum. Its impact in the community has been recognized by the press, by governments both in the US and internationally.
HABA recognized and honored Mr. Nicolas Bornozis for his commitment throughout his whole career (40+ years), in promoting Greece as a business and investment destination to the international and particularly the American financial community, as well as, in raising the profile of Greek Shipping to a wider audience worldwide.
HONORARY DISTINCTION FROM THE RHODE ISLAND STATE SENATE
Mr. Leonidas Raptakis, Rhode Island State Senator presented Mr. Nicolas Bornozis with one more award, in recognition of his work and lifetime achievements, coming from the Rhode Island Senate and W.H.I.A (World Hellenic Inter-Parliamentary Association), being its President, and on behalf of all the 47 elected Senators in the Greek-American government with Greek origin.
AWARD CEREMONY AGENDA
HABA, President, Mr. Bob Savage, Global Head of Markets, Strategy and Insights, BNY Mellon welcomed all guests. Master of Ceremony was Ms. Alexia Kalfas, Chief Financial Officer, TMV, who organized this year’s successful event together with Mr. Costas Kellas, Treasurer HABA, CEO, Objecutive, Inc.
Many top industry leaders from the public and private sectors, have commented on many occasions on Mr. Bornozis work and contribution and these comments were mentioned during the dinner award ceremony. In particular, the award ceremony started with the broadcast of video statements from the following prominent personalities:
Additionally, during the award ceremony, introductory remarks were delivered in person, by:
They highlighted the importance of Nicolas's and his sister’s Olga’s work and contribution to fostering the business relationship between the United States and Greece, to the successful investment flows to Greece, and to raising Greek Shipping’s profile. HABA, President, Mr. Bob Savage, Global Head of Markets, Strategy and Insights, BNY Mellon, handed the award to Mr. Nicolas Bornozis, who offered a short speech. The event Closing Remarks were delivered by Mr. Chris Thomas, Vice President - HABA & Managing Director - Simon Quick Advisors LLC. The award ceremony was honored by the presence and participation of more than 300 prominent guests – personalities, and distinguished Greeks of the Omogeneia, American entrepreneurs, shipowners, and top leaders of the Financial Community of New York.
ABOUT CAPITAL LINK: Founded in 1995, Capital Link is a New York based investor relations, financial communications and advisory firm with a strategic focus on the maritime, commodities and energy sectors, MLPs, as well as Closed-End Funds and ETFs. In addition, Capital Link organizes 18 high quality Investment Forums, webinars and podcasts, focusing on maritime transportation and U.S. investment products in 10 countries in the United States, Europe and Asia, in key industry centers, such as New York, London, Oslo, Hamburg, Athens, Limassol, Shanghai, Singapore, Tokyo and Hong Kong all of which are known for combining rich educational and informational content with unique marketing and networking opportunities. Capital Link is a member of the Baltic Exchange. Based in New York City, Capital Link has presence in London, Athens & Oslo.
Tributes: https://youtu.be/6KCFobGapyA
Nicolas Bornozis speech: https://youtu.be/jg4Onb6gpA8
Full Event: https://youtu.be/DiXee8tdZYE
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On the occasion of the 88th Annual Report of the Greek Shipping Co-operation Committee Mr. Fafalios referred to the global shipping market and geopolitical developments.
“Whilst the Ukrainian conflict has entered into its second year with no sign of any solution, there is also a great amount of turmoil in the world's financial and commodity markets as a result of differing global situations.
As America and other countries are trying to reduce their reliance on China and perhaps put more business into other economies as well as their own, China itself is feeling some uncertainty and is not as confident in its economic progress as it was a year ago.
The fact that interest rates are higher than they have been for many years has made investment decisions riskier, and certain long-term projects are now languishing due to the higher cost of finance.
With all the above, and the necessity to export more energy commodities such as L.N.G., the shipping markets have seen great volatility in every sector. Looking at individual sectors, the container market has lost the sparkle of the last two years but is still at levels that were better than three years ago. However, a very substantial order book will have some effect going forward.
Fortunately, the car carrier sector is still going strong, even with a substantial order book, but with strong demand for car transportation.
The dry bulk market is at present languishing at levels which are not very positive, and there is a great influence from the FFA market, which causes great volatility, as the movement of physical commodities is still quite substantial on a global basis.
The tanker market is not as strong as it was but still is in positive territory, even with a growing order book.
The gas carrier market, especially the VLPG sector, is doing very well, and the LNG sector has a large order book on the back of significant new projects going forward and a positive long-term charter market.
Meeting this demand for modern high-quality tonnage, the Greek merchant fleet continues to remain the world's largest (over 20 percent) and is investing significantly in sophisticated, environmentally conscious, energy-efficient new ships as well as picking up high-quality second-hand units.
By this process of constant renewal, the average fleet age is falling, and the GHG efficiency is rising.
By virtue of its predominant position in the tramp shipping market, the Greek merchant fleet is always the first to adapt to changing global requirements and takes heed of all new regulations, whether global or regional. It is very important to stress that the Greek fleet represent approximately 60% of the total EU tonnage and is that very strategically important to meet the EU’s needs.
With this in mind, we stress the importance to support the global regulator, i.e., the IMO, which has to take a practical and balanced attitude to all legislation, as opposed to some of the more political elements of some regional legislators which do not have the knowledge to see the bigger picture.
The G.S.C.C. itself is always at the forefront of keeping its members closely informed of all these developments and lobbying at the highest levels in order to bring about a coherent legislative program” stated Mr. Fafalios.
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