Following a policy of strengthening the Greek Registry Capital Gas Ship Management Corp. has raised the Greek flag on the LNG Carrier 'Aristarchos' (‘ΑΡΙΣΤΑΡΧΟΣ’). ‘Aristarchos’ is now sailing around the world flying the Greek flag.
The ‘Aristarchos’ was built in 2021 at Hyundai Heavy Industries shipyard in South Korea and has a capacity of 174,000 cubic meters. It is a new-generation, high-efficiency vessel equipped with XDF engines, state-of-the-art systems including an air lubrication system, increased load limits (over 99%) and dual-fuel engines. The advanced technology and environmentally friendly features are another milestone in the company’s commitment to sustainable growth and shipping.
The change of flag on the 'Aristarchos' took place at the port of Taichung in Taiwan, in the presence of the Consular Port Authority of Tokyo, the Master of the Hellenic Coast Guard, Mr. G. Mandalakis.
Capital Gas Ship Management Corp. is currently managing a fleet of 20 LNG Carriers with a total carrying capacity of approximately 3.4 million cubic meters and a total dwt of 1.6 million tons. The fleet under management includes vessels of Nasdaq-listed Capital Product Partners L.P. and vessels on order.

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Last year there was a milestone event for TEN as the company completed 20 years on the NYSE. This year TEN celebrates 30 years in shipping, since it started on 10^th of October 1993 and marking another record year of profits.
TEN was also recognized as a crisis resistance company growing out of major global economic disruptions.  TEN has expanded its fleet significantly delivering ambitious newbuilding programs since 1995.
After several crisis 11^th September 2001 terrorist attacks, credit crisis of 2008 and Covid 19 breakout TEN came out stronger investing in new technology ships.
Life is like a marathon rather than a speed race, said Dr. Nikolas Tsakos in his speech during the last general meeting of the company. He pointed out that the debt is in sensible levels around 40-50% to the company’s capitalization and has modernized the fleet with the addition of dual fuel shuttle tankers and LNG carriers. It has also under construction an ambitious newbuilding program of ten vessels.
The company has also paid healthy dividends through market cyclicality during the last 30 years as a public company and 20 years in NYSE.
TEN in its 20-year trading in NYSE has recorded $2.5billion in net income since its NYSE listing and $770million in dividends.
The general meeting was also addressed by the founder of Tsakos Group cap Panagiotis Tsakos who told that he is very proud of the achievements of his son Nikos and his associates in TEN and he expressed his concern for the compelling issue of Greek seamen shortage. 

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As part of our “SAILING TOGETHER” responsibility and sustainability programme, Attica Group has completed the 5th of a series of initiatives aiming to clean the seabed of our islands and protect their marine life.
Following the preceding successful environmental initiatives in Naxos, Kos, Santorini and Paros, the destination to follow was Lesvos. There, our 62 employees with the support of 6 members of their families, along with 20 volunteers from Aegean Rebreath, worked with patience in an effort to carry out underwater and coastal cleaning of Panagiouda port and beach cleaning at the north of Panagiouda palm forest.
The initiative was embraced by the island Authorities and was carried out in cooperation with the Municipality of Mytilene, Panagiouda Village Authorities, the Mytilene Port Authority, the Municipal Port Fund of Lesvos, the Ephorate of Marine Antiquities and the University of the Aegean, Department of Oceanography and Marine Life Sciences.
We take this opportunity to express our sincere thanks and appreciation to Mr. Panagiotis Violatzis, who, among other, offered the use of his fishing boat to facilitate our work. It is worth mentioning that 4 Sudanese refugees being hosted at the nearby refugee structure voluntarily assisted our work.
In the course of the action, the volunteers collected and sorted out, from the seabed: 1,890 objects and 15 sacks of plastic and synthetic polymer objects, 69 wheels and tyres, 212 objects from textile, 589 metallic objects, 124 glass/ceramics, 21 paper/cardboard objects, 50kg of nets and 1,000 kg of chemicals (oils/tar).
In addition to the above, on Sunday, 7 th May, a sampling was carried out to detect and collect micro-plastics from Chryssi Ammos beach.
The aim of these actions is to instil volunteerism and cooperation among our employees and raise awareness within the local communities on issues such as environmental protection, circular economy and sustainable development.
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 61 unique destinations in 4 countries, connecting 79 ports transporting over 6 million passengers, 1 million passenger vehicles and 500,000 trucks every year.

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Signal, the diversified shipping services group, whose activities include commercial ship management, software development and investments, has opened up access to its online Tanker Chartering Academy for all. The free to view 10-module program has been created to explain the entire process of fixing a vessel as well as tanker operations, port disbursements and post-fixture activities. See www.thesignalgroup.com/academy for further details.
The Academy program was initially created to help the fast-growing Signal train its shipping professionals, software engineers, and data scientists to ensure that they understand the fundamentals of the tanker shipping business. It is now being made available to Signal customers, partners and the wider shipping & trading community to provide entry level knowledge.
Signal founder Ioannis Martinos said: “Shipping companies have big digital ambitions, but to deliver on those, they need to attract and onboard talent which often has little or no exposure to our industry. How can you build and deploy helpful solutions if your technologists don’t understand the shipping business? Having struggled with this in the past, we built a program based on what really happens in the tanker chartering setting. We’ ve had great internal success with it, so we wanted to share with others.”
He added: “Signal was founded with the vision to bring shipping and technology together.”
Over the past five years Signal has taken on over 100 technologists in London and Athens to develop its suite of digital services. The Signal Ocean platform continuously processes and combines streams of private and public data such as AIS, tonnage lists, cargo lists, vessel positions, port costs, port line-ups, emissions and freight rates.
Using advanced algorithms and AI, data is transformed into private and actionable insights on the freight market. Users can track supply, demand and rates in freight markets, optimally match vessels to cargoes, run profitability comparisons, consider CO2 emissions and use Signal’s patented technology to track and forecast vessel movements across the globe.

Tanker Chartering Academy modules:

• Tanker shipping basics
• Introduction to tanker chartering
• Tanker chartering daily routine
• Cargo selection
• Fixing negotiation
• Tanker operations ecosystem
• Tanker operations key actions
• Bunkering function
• Port cost management
• Post fixture operations

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DeepSea Technologies, the award-winning Al-led maritime technology company and energy efficiency experts, makes a full vessel data set and DeepSea’s automatic model evaluation tool available for free to the shipping industry for the next 12 months. This is the first time that such tools have ever been made available to the public - and allows innovation, research and technical departments with strong data science capabilities to start exploring AI.
The announcement follows the publication of the winners of the Shifts Challenge 2023. The competition is an international collaboration of academic and industrial researchers, including Cambridge University, and is helping to make shipping a first-class citizen in AI research.
Overall, the Shifts Challenge received 175 submissions from institutional and academic research teams and individuals. The two areas of focus were ship power prediction and white matter multiple sclerosis lesion segmentation. The winning submission in the shipping track was made by a team from IBM Dublin, which proposed a novel approach, harnessing learnings from the wind turbine sector in order to gain new insights from the data provided. Their solution could predict vessel power under a broad set of conditions, recording a 13% performance improvement against the reference model DeepSea provided as a baseline.
The full vessel data set from the challenge will now be provided for use to researchers and technical specialists in the maritime industry, and can be accessed via Zenodo (an open-source research database operated by CERN). DeepSea intends for it to help support the development of robust vessel models across the industry - something essential in enabling the sector to cut costs and cope with environmental regulations.
Commenting on the Shifts Challenge, Dr Nikitakis, DeepSea’s AI Director, said: “We were delighted to see the diverse set of solutions that the competitors provided. We’re also pleased to be opening this AI environment up to the whole of the shipping industry. We are always trying to “fight the hype” around AI, and there is no better way than giving the public the tools to explore - and evaluate - their own AI solutions. Perhaps later down the line we will put on a similar challenge for all AI providers in the industry - we hope they’ll take us on!”
Commenting on their winning submission, Seshu Tirupathi from the IBM Dublin team, said: “Challenges in making inferences on data with distribution shifts can be expected to gain increased importance with the exponential growth of data and real-time monitoring applications. This sort of research is extremely important, as it avoids unreliable predictions that may lead to life-threatening situations. Avenues like the Shifts Challenge provide ground truth from real-world data that is essential to develop and validate robust algorithms in the space of distribution shifts and concept drifts.”
Dr. Konstantinos Kyriakopoulos, CEO and co-founder of DeepSea, said: “Though AI is still a relative newcomer to the shipping sector, it has already proven itself as an exceptional tool for those looking to optimise fuel consumption, emissions, and industry ratings. Like any other cutting-edge research area, this technology can only develop as part of an ecosystem, and the Shifts Project is (amongst other things) designed to help catalyse and support this movement.  Industrial AI is a field where BS is rife, and it’s these sort of initiatives that help the industry to know who to trust.”

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On World Ocean Day 2023, Columbia Shipmanagement Ltd. proudly reaffirms its commitment to environmental sustainability through its ongoing partnership with the AKTI Project and Research Centre. The collaboration aims to address the pressing issue of coastal microplastics in the waters off the coast of Cyprus.
As a leading global ship management company, Columbia Shipmanagement recognises the urgent need to protect marine biodiversity and conserve the marine environment. The partnership with AKTI aligns perfectly with the company's sustainability strategy and goals.
In the first year of the research, conducted between July 2022 and March 2023, AKTI Project and Research Centre successfully collected and processed samples from the selected beaches. The results are eye-opening, revealing the extent of the microplastic problem. Up to 4000 microplastics, including pellets, fragments of various colours, and transparent films, were detected along the remote and touristic coasts of Cyprus.
Microplastics are considered as plastic particles with a size range of 5mm-1μm. Particles less than 1 μm are considered nanoplastics. The research implemented by AKTI Project and Research Centre focuses on microplastics only. Processing of the samples included sieving, floatation, and use of a microscope.
Andreas Hadjipetrou, Group Chief Commercial Officer, and Managing Director of Columbia Shipmanagement emphasised the company's commitment to local community engagement and its role in supporting initiatives that address the real needs and challenges faced by civil society. "Our partnership with AKTI and the valuable work they are doing aligns perfectly with our shared values and goals. By offering solutions that meet these needs, we can make a meaningful impact in preserving our oceans," said Mr. Hadjipetrou.
This ongoing research project serves as a crucial step towards developing effective policies and strategies to combat plastic pollution off the coasts of Cyprus. By analysing the abundance and types of microplastics found, the project will provide valuable insights to guide future initiatives aimed at protecting the marine environment.

Image: Andreas Hadjipetrou, Group Chief Commercial Officer, and Managing Director of Columbia Shipmanagement

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Highlighting on the remarkable cooperation and synergy between Greece and the United States in the shipping sector the International Propeller Club of the United States, Port of Piraeus, in collaboration with the U.S. Embassy in Athens, have launched a prestigious initiative  the Annual Hellenic-American Shipping Gala.
The inaugural annual gala will take place on July 11, 2023, at the scenic "Faros” outdoor area within the Stavros Niarchos Foundation Cultural Center. 
The Hellenic-American Shipping Gala will recognize the significant contribution of 27 shipping companies of Greek interests listed on U.S. Capital Markets, showcasing their exceptional quality, transparency and attractiveness to global financial and service providers. These companies symbolize the remarkable symbiosis and systematic cooperation that exist between the two nations.
The International Propeller Club of the United States, Port of Piraeus, as the organizer, aspires to establish the Hellenic-American Shipping Gala as a premier event on the annual shipping calendar. By hosting this prestigious gathering, the gala aims to acknowledge and appreciate the close ties of Greek shipping and the U.S Capital Markets, the friendship and cooperation between Greece and the U.S in shipping.
Greek shipowners historically relied on loans from European and American banks to finance their capital-intensive maritime activities. However, the pursuit of additional sources of equity capital has long been a goal for many shipowners. While early pioneers like Manuel Kulukundis, Basil Mavroleon and Antonis Angelicoussis achieved this through London and NASDAQ listings, it was the Tsakos Group which made the first modern listing of a Greek shipping company, Tsakos Energy Navigation, on the NYSE in 2002.
Following the Tsakos Group's lead, numerous Greek shipping groups have embraced listings on the NYSE and NASDAQ, resulting in 26 additional shipping companies of Greek interests joining the U.S. capital markets. This successful partnership between Greek shipping and U.S. capital markets has provided the industry with access to substantial funds and expertise, crucial for fleet expansion, technological investments, environmental sustainability and digitalization.
The Hellenic-American Shipping Gala serves as testament to the high quality, transparency, and attractiveness of shipping companies of Greek interests listed on U.S. capital markets. These companies not only benefit from access to the largest and most dynamic investment community in the world, but also uphold the rigorous compliance standards set by American capital markets. Such qualities make them highly appealing to a wide range of financial and service providers.
Ambassador George J. Tsunis, U.S. Ambassador to the Hellenic Republic, and Honorary President of the International Propeller Club, Port of Piraeus, noted the importance of the Greek shipping community in strengthening the U.S.-Greece relationship, stating: “We honor the important role that the Greek shipping community plays in U.S.-Greece relations by serving as an essential bridge of friendship between our two nations while sustaining global commerce.”
Costis Frangoulis, President of the International Propeller Club, Port of Piraeus and Vice President of the International Propeller Club of the United States, emphasized the significance of this event, stating: "The Propeller Club has always been the direct link between Greek Shipping and the U.S. The presence of Greek shipping companies on U.S. capital markets is important and long-standing. Now the time has come for this cooperation to be highlighted, and this is exactly what we wish to achieve by organizing the Hellenic-American Shipping Gala. We aim to showcase the close friendship between Greece and the United States whilst honoring and celebrating these companies, and the strong synergy they represent."
The inaugural Annual Hellenic-American Shipping Gala promises to be an unforgettable evening, blending maritime heritage, cultural exchange, and business networking. The event will bring together esteemed guests, including industry leaders, government officials, diplomats, and representatives from the maritime community.
By honoring these companies, the initiative positions them as exemplars of the successful partnership between Greece and the U.S., whilst underscoring the close friendship between the two nations, in an unparalleled setting at the top of the Greek National Opera in a space encased in glass, offering panoramic views of Athens, Piraeus, and the Saronic Gulf, coupled with an unfettered visual connection to the world’s renowned Acropolis hill.

Image: Ambassador George J. Tsunis, U.S. Ambassador to the Hellenic Republic, and Honorary President of the International Propeller Club, Port of Piraeus and Costis Frangoulis, President of the International Propeller Club, Port of Piraeus and Vice President of the International Propeller Club of the United States

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Marlink, the smart network and digital solutions company, will add Starlink LEO internet to the existing hybrid network solution provided to its long-term customer Sun Enterprises Ltd.
The Piraeus-based tanker and bulk carrier operator and manager will benefit from Marlink’s new concept Sealink NextGen service to enhance the adoption of digital tools and crew welfare applications.
Sealink NextGen combines GEO VSAT and MSS back-up with customers’ required mix of LEO or MEO connectivity, 5G and digital solutions, all controlled and managed via Marlink’s Xchange platform. Xchange enables remote maritime operations by ensuring that critical connectivity is always maintained, powering applications for business and crew.
Established in 1968 with roots dating back to 1878, Sun Enterprises serves as the consolidated operating company for a modern fleet of 20 tankers and dry bulk carriers with deadweight capacity of just under 2m tonnes.
Sun Enterprises has a long tradition of operating a safe efficient and environmentally-friendly fleet and is the recipient of numerous awards in this regard. Its commitment to these principles has resulted in well-established and vital relationships with the world’s leading oil and dry cargo companies.
The company has previously used L-Band communications solutions across the fleet, progressively migrating to higher bandwidth services. The addition of Starlink will bring much faster throughput and lower latency to the company’s business and crew communications, enabling the deployment of digital solutions and crew welfare services.
Designed to meet the next generation of user demand, the new hybrid solution will take advantage of software-defined routeing (SD-WAN), with applications assigned channels and priority for seamless delivery of data. Marlink will also provision network performance management tools to ensure that vessel managers have visibility on the fleet at all times.
“Sun Enterprises operates on core values that demonstrate a commitment to running our business with safety, professional integrity, innovation, diligence and teamwork and this DNA demands we adopt new approaches to our clients’ demands,” said Konstantinos Tsalikis, ICT Manager, Sun Enterprises. “Our work with Marlink has demonstrated that they can provide the best solutions in any combination that can scale as we move forward with more advanced business processes.”
“Sun Enterprises illustrates the approach of a vessel manager that must meet the highest possible demands for the quality of its operations and these days, higher bandwidth and lower latency communications are a must,” said Tore Morten Olsen, President, Maritime, Marlink. “Our blended solutions enable vessel operators to manage the transition to digitalisation operations in a way that reflects their core principles.”

Caption: The Piraeus-based tanker and bulk carrier operator and manager will benefit from Marlink’s new concept Sealink NextGen service

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The second Sea to Cloud event in Athens hosted by Kongsberg Digital was a blast! Inspired by Stavros Niarchos’ Lighthouse unique view of the ancient hill of Acropolis and the modern Port of Piraeus has set the tone for how shipping companies can adopt a digital strategy to combine the old with the new.
This year’s interactive event attracted many representatives from shipping companies, who seized the opportunity for VIP demo sessions, ranging from Data Collection &  Vessel Performance to Fleet Optimization & Electronic Logbooks. The event opened with a keynote from Mr. Stavros Fountas (Managing Director, Kongsberg Maritime Hellas), he shared the latest industry insights and how digitalization can lead shipping to a safer and more efficient future.
The first of our guest speakers was Mr. Jason Stefanatos (Regional Decarbonization Director, DNV) who eloquently set the framework on the regulatory aspects of decarbonization and digitalization.          
Then, the stage was owned by Mr. Zoran Lajic, Energy Efficiency Director of Angelicoussis Group. With an insightful presentation he laid the methodology of how the Group monitors their fleet, analyzes the data and turns it into value.
Right after, the audience had the chance to witness firsthand a case study with insights from the world´s largest container shipping line MSC into its fleet digitalization. Mr. Thodoris Rigopoulos (Fleet Performance Expert, MSC) showcased how having one vessel-to-cloud data infrastructure, like Vessel Insight, is key to optimizing MSC’s vessel operations to become more effective, sustainable, and safer.
Concluding the speeches, Ms. Sigrid Siksjø Johansen (Product Owner – Kongsberg Digital) elaborated on how to monitor, control and improve energy management and compliance in today’s merchant marine industry.
The evening continued with the crowd mingling, having fun and exchanging ideas on shipping and digitalization and everyone renewed the appointment for next year.

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Market drivers have created a significant opportunity for Wallem to grow a specialised area of business, according to Capt. Anurag Mathur, Managing Director, Commercial Services, Wallem Group.

Wallem’s portfolio of commercial services is ideally placed for expansion across a full range of vessel types, according to the executive appointed to drive for growth in January 2023. And Capt. Anurag Mathur, whose previous roles include senior managing directorships at leading ship owning and ship management companies, says he is relishing both the task and the trust placed in him by the Wallem board to make things happen.
Launched in 2008, Wallem Commercial Services offer a unique portfolio of capabilities, by including commercial ship and cargo management, broking, chartering and sale & purchase, but also insurance and advisory financial services, loan facility and distressed asset management.
With more than 200 vessels signed up to conventional ship management agreements with Wallem, the commercial services operation is well established and growing in the group. However, Capt. Mathur says that the commercial services relationship with owners is of a different nature, with owners leveraging Wallem’s experience in areas that are usually closed to third parties - including back-office support and asset financing. 

Long-term interest

Faced by persistent market volatility, ambiguity on sanctions, supply chain disruption and uncertainties over ship emissions requirements, owners can benefit by consulting with Wallem shipping knowhow which this year marks its 120^th anniversary, says Capt. Mathur. In an industry also afflicted with rising interest rates, accessing financial analysis, project evaluation and investment project management that is wholly independent is also a clear value add.
“There are clear opportunities for independent commercial services in today’s market,” says Capt. Mathur. Already, prospects are strong in the bulk carrier and chemical tanker sector, he adds, while over ordering and deteriorating rates in the containership market may push owners to seek asset refinancing.
Meanwhile, commercial shipping as a whole is facing up to fixed greenhouse gas emissions targets.
As part of its conventional ship management, Wallem’s integrated commercial software analytics is already monitoring vessels for CII profile and has developed predictive capability to plan for future compliance. However, Capt. Mathur believes a significant part of the market will need more than technical consultancy alone to meet its obligations.
“If you look at mandatory EEXI and CII requirements, our sense is that a lot of people will start wondering what to do at the end of the year, when it will already be too late,” he says. Class can help owners with their immediate reporting needs into the IMO’s Data Collection System, but they also urgently need to review their readiness to respond to whatever CII ratings apply to their vessels.
If some believe from experience that alarm over approaching maritime rules can be overblown, Capt. Mathur offers a stark warning. “The difference this time is that the EU ETS will be mandatorily implemented from 1 January 2024 – at least in Europe and will have significant impact on Ship Owners, DOC holders and their Commercial partners. I think people are just realizing the magnitude of what is going to come soon. There’s an urgent need for owners to get the right advice.”
Furthermore, formulating plans to reduce carbon profile over time – which is also required by the GHG & CII framework – will demand a proactive assessment of asset longevity and an evaluation of the ROI of extending the life of older tonnage. 

Independent evaluation

Faced by equipment suppliers pushing energy saving devices, an array of low carbon fuels and a multitude of software options that vendors claim solve sustainability challenges using analytics alone, owners seeking CII reductions now are wary of making the wrong investment choices.
“Of course, owners need independent technical partners to evaluate the feasibility of any new technology, but they also need a commercial partner to evaluate ROI and broaden the review to other options such as different routes or trading patterns. On top of that, owners will need to finance the measures they have in mind.
“We see a distinct opportunity to grow Wallem Commercial Services as a one stop shop, where we can assess owner needs, agree a plan, facilitate finance and project manage to completion as a partner who stands by our recommendations to prove that they work in practice.”
The company’s financial consultancy, loan facility management and transaction support are likely to be powerful tools in growth plans for Wallem Commercial Services, says Capt. Mathur. “Where ROI can be established for retrofitting a new technology to extend a ship’s life expectancy to fit with tightening limits for carbon emissions, for example, Wallem Commercial Services has lines to a number of financial institutions, including sizeable Green Funds.”
Recalling the returns made by owners willing to agree financing for exhaust gas scrubber technology in the run up to IMO 2020 restrictions on fuel sulphur content, investments in the compliance of older assets can reap the rewards of market opportunities, he observes.   
Owners also need broader commercial services to help them adjust to shipping’s new era of transparency, says Capt. Mathur. Smaller owners may simply lack the resources to service shipping’s new benchmarking culture or may recoil from open-ended expenses brought by multiple experts - all promising to help them through one part of the process.
“The shipping business is often about making connections and there are many people who can help owners with part of their needs when it comes to asset or technology evaluation, financing, project management and delivery. However, different stakeholders mean multiple negotiations. The basis for growing Wallem Commercial Services is that we will partner our customers from start to finish, as a one stop solution for their commercial and technical needs.” 

Image: Capt. Anurag Mathur, Managing Director, Commercial Services, Wallem Group

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