Bluferries, the company of the FS Italiane Group’s Polo Logistica operating in maritime transportation in the Strait of Messina, Italy, C.T.E. Perdikaris Engineering, Architectural & Technical Services Ltd., and RINA, a multinational inspection, certification, and engineering consultancy, launched a state-of-the-art hybrid Ro-Ro passenger ship, Sikania II Hybrid. This innovative vessel is set to revolutionize passenger travel between Villa San Giovanni (Reggio Calabria) and Messina, Italy. Designed by the Greek company C.T.E. Perdikaris and built in Greece by Celt under RINA surveillance, this vessel represents a significant leap forward in sustainable maritime technology.
At the heart of this new vessel lies its cutting-edge hybrid propulsion system, a testament to Bluferries' commitment to environmental stewardship and operational efficiency. The hybrid system seamlessly integrates traditional diesel engines with advanced electric propulsion, significantly reducing carbon emissions and fuel consumption. This dual approach not only enhances environmental sustainability by offering zero emissions at port during loading and unloading operations but also reduces fuel consumption during navigation, ensuring reliable and efficient service for passengers.
Crafted with precision by C.T.E. Perdikaris, the new ferry features a sleek and modern design that enhances both performance and passenger comfort. Similar in size and capability to the "Sikania II Hybrid" Ro-Ro ferry of the company, this vessel measures approximately 105 meters in length and boasts a gross tonnage of 4,100 GT. It is designed to transport 22 heavy vehicles or 125 cars and 400 persons, offering ample space and advanced amenities for passengers and cargo alike.
The true innovation of this vessel lies in its use of green technologies. The ship is equipped with four azimuth thrusters Z-drive, each connected directly to one diesel engine of 1000kW and one electrical motor of 350kW. The electrical motors are connected to NMC batteries with an energy storage capacity of 1MWh. The vessel is energy-independent, featuring an advanced energy management system. During navigation, the batteries can be charged through the electrical motors acting as shaft generators. The stored energy is used for hybrid propulsion, combining diesel engines and electric motors to supply power to the azimuth thrusters. When approaching port, the vessel operates on fully electric propulsion for zero emissions during all maneuvering, loading, and unloading operations. Additionally, solar panels fitted on board provide 25kW of power, supplying all ship accommodation services.
Sabrina De Filippis, CEO of Mercitalia Logistics said, “the launch of Bluferries' new green ship represents a fundamental step in the renewal process of our fleet. Today we can see the result of our investments, with the delivery of this increasingly eco-sustainable vessel. Thanks to the hybrid propulsion it will allow a 50% reduction in CO2 emissions and "zero emissions at port" during the arrival and departure phases. In the coming months it will be subjected to testing and, once towed into the Strait, it will be definitively put into the water, inaugurated and renamed, in order to take full service in the first months of 2025. The new ship is the result of an investment of 26 million euros, partly financed with funds from the National Plan for Complementary Investments to the PNRR, and will be added to the 5 that already operate in the Strait".
Giuseppe Sciumè, CEO of Bluferries commented, “Bluferries remains at the forefront of maritime innovation with our new hybrid Ro-Ro vessel, developed in collaboration with C.T.E. Perdikaris and classed by RINA. This vessel meets high standards of efficiency and reliability, paving the way for greener maritime transport. Its inaugural voyage is set for early 2025, with regular services to follow. We plan to expand our hybrid fleet, reinforcing our position in eco-friendly maritime solutions. This launch enhances connectivity between Sicily's key hubs. The Calabria-Sicily route will benefit from a faster, cleaner, and more reliable transportation option.”
Theano Perdikaris, CEO of C.T.E. Perdikaris said, “We have brought our extensive expertise to this project, ensuring the vessel meets stringent environmental standards while maintaining operational excellence. This project showcases the potential of hybrid technology in reducing the maritime industry’s carbon footprint,” said. “We are proud to partner with Bluferries in setting a new benchmark for sustainable marine transport. Our company, a pioneer in ship design and innovative solutions in Greece, embedding green technology, has designed a ship that meets the challenge from Bluferries Srl to deliver an avant-garde vessel with lower emissions footprint than her two sister vessels Trinacria and Sikania, cutting-edge in terms of environmental technology. Crucial to the success of this endeavor was the involvement of RINA, which proved its commitment to the maritime green transition."
Giosuè Vezzuto, Marine Executive Vice President at RINA concluded, “We are proud of the collaboration with Bluferries and CTE Perdikaris on this state-of-the-art hybrid vessel. This project represents a major step towards decarbonization and exemplifies the synergy needed for a sustainable maritime future. It highlights the pioneering efforts and Greece's pivotal role in advancing sustainable maritime practices. Together, through collaboration and innovation, we are steering towards a cleaner, more responsible worldwide maritime industry for future generations.”
Mercitalia Logistics, the lead company of the FS Italiane Group's Polo Logistica, is a multimodal system operator at European level, operating in 12 countries. It offers integrated logistics services, including first and last mile connections and the management of terminals and logistics platforms to enable full intermodality with road and sea. https://www.mercitalialogistics.it/
Bluferries is a premier maritime transportation company dedicated to providing efficient, reliable, and sustainable ferry services across Italy. With a strong focus on innovation and customer satisfaction, Bluferries continues to set new standards in the maritime industry. https://www.bluferries.it/  
C.T.E. Perdikaris Engineering, Architectural & Technical Services Ltd. is a leading marine engineering firm renowned for its innovative designs and commitment to sustainability. With decades of experience, the company specializes in architectural, engineering, and technical services for the maritime industry. Their expertise spans the design and construction of a wide range of vessels, from commercial ferries to sophisticated hybrid ships, all adhering to the highest standards of environmental and operational excellence. C.T.E. Perdikaris is dedicated to pushing the boundaries of maritime technology and engineering, ensuring that each project they undertake contributes positively to the future of marine transportation. http://www.naval-architects.eu/
RINA, leading certification and engineering company, provides a wide range of services across the Energy, Marine, Infrastructure & Mobility, Certification, Industry and Real Estate sectors. In December 2023, alongside the majority shareholder Registro Italiano Navale, Fondo Italiano d'Investimento SGR entered the shareholding structure guiding a pool of co-investors. With revenues in 2023 of 797 million euros, 5,800 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. www.rina.org

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Piraeus Port Authority S.A. received two prestigious distinctions for its significant contribution to the Greece’s economy at the "Protagonists of the Greek Economy" awards, organized by the Direction Business Network under the auspices of the Ministry of Development.
PPA S.A.  was honored with the "Industry Leader in Port Authorities" recognizing its position in the sector based on its turnover, profits before taxes and cash reserves for the fiscal year 2022. Additionally, the Company received the "Greek Business Champions" award, which is given to companies with a turnover exceeding 10 million euros and have achieved more than 20% growth in both turnover and profits before taxes during the fiscal years 2022 and 2021. The Deputy CEO of PPA S.A., Mr. Angelos Karakostas accepted the awards on behalf of the Company.
On the occasion of these important distinctions received, the CEO of PPA S.A., Mr. Su Xudong, expressed his satisfaction with the Company’s continuous and steadily upward economic trajectory, emphasizing that these results are neither coincidental nor temporary. They are the outcome of systematic work and the faithful implementation of a strategic plan aimed at establishing Piraeus as one of the top ports in the Mediterranean and Europe over time. Mr. Su Xudong also highlighted that each success of the port contributes to the country’s economy, making the achievements doubly rewarding for everyone at the Company.
The award ceremony took place on Monday, July 15th, marking the 9th consecutive year of the event.
About PPA S.A.: Piraeus Port Authority SA is an Athens Stock Exchange listed company engaged in the management and operation of Piraeus port, Greece’s largest port and one of the largest integrated harbours in Europe, providing a complete range of services. Some of the company’s activities involve cruise, coastal (ferry/passenger), container and car terminal services, as well as general cargo, ship repair, logistic and free zone services. The main shareholder of Piraeus Port Authority S.A., with a stake of 67 percent, is COSCO SHIPPING, one of the largest maritime companies in the world.
Over the last decade the company has experienced a remarkable growth in all port activities, which is still underway, largely contributing to the country’s economy, while driven by green development and increased digitalization, alongside a people-first approach and a spirit of giving back to the society.
PPA is a member of “ECO PORTS”, holds ISO 9001:2015, ISO 14001:2015, ISO 50001:2018 Certifications, is included in the Athens Stock Exchange ESG index and is one of the “Most Sustainable Companies in Greece 2024”.

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The maritime economy is in the midst of the green transition, and advanced technologies are the enablers of this sweeping transformation. 

At SMM, international exhibitors will showcase the latest products and ideas paving the way into the future of shipping.

At SMM, from 3 to 6 September, exhibiting companies will demonstrate in a compelling way how innovative solutions can increase efficiency, cut emissions and improve safety and security at sea.
Future fuels: not an option but a must
In the new Future Fuels Area, the award-winning French developer of hydrogen-based energy systems Genevos will highlight its recently-certified 250 kW H2 fuel cell module (HPM-250) for maritime applications. The Norwegian manufacturer Bergen Engines will promote its new engine generation.
Refitting: upgrading the fleet in service
The finish company Norsepower has developed a radically modernised version of the rotor sail, also called Flettner rotor – could be called the mother of all wind propulsion technologies. For example, during their first year of operation on board Maersk Pelican, these rotor sails reduced fuel consumption by 8.2 per cent. Another interesting retrofitting options, including inventions like the eSails offered by the Spanish start-up Bound4Blue. The company’s wind-assisted propulsion solution can reduce fuel consumption by up to ten per cent.
Digitalisation: heading for autonomous shipping
Integrating digital technologies is the second big item on the maritime industry’s agenda. “We want to discuss at SMM how standardisation can support increased safety and fair competition,” says Ronald Epskamp, Maritime Business Unit Manager at automation specialist Bachmann electronic.
Autonomous shipping is on the menu of Avikus too: The solution sold by the Korean software house does save fuel and shows that it is possible to actively respond to carbon emissions regulation through the use of autonomous navigation technology.
Artificial Intelligence: Gamechanger
The new AI CENTER will be an all-embracing showcase of advanced AI technologies and their potential for maritime applications. Numerous established and start-up companies will present their AI solutions addressing a variety of challenges, from optimising fuel consumption to improving operational efficiency. One of them is Bearing AI. “Our vision is to not only ease the industry's transition towards green shipping but also enable it to harness AI to make confident decisions that support commercial and sustainability goals“, says Kristofer Maanum, Senior Product Leader at Bearing AI. Conbo.ai wants to revolutionize port logistics. To avoid backups at terminals and in their immediate surroundings, the company offers a traffic analysis system that can increase the operational performance of these key nodes of the global supply chains significantly.
“SMM addresses everything that matters for the future of the industry by highlighting a wide range of forward-looking innovations. I am convinced that SMM 2024 will deliver a strong impetus for the transformation of the shipping sector,” says Claus Ulrich Selbach.
About SMM
The leading international maritime trade fair takes place in Hamburg from 3 to 6 September 2024. More than 2,000 exhibiting companies and around 40,000 visitors from over 120 countries are expected to attend. Covering the entire value chain of the maritime industry on 90,000 m² in twelve exhibition halls, SMM is the world’s foremost platform for innovation and the latest technologies in the maritime sector that brings together business leaders from around the world. Themed “SMM – driving the maritime transition”, the 31st SMM will focus on the maritime energy transition and digital transformation. An attractive conference programme and a wide range of networking opportunities will supplement the exhibition. For the first time, the conferences will take place on open stages inside the exhibition halls – free of charge, and accessible to all fair visitors.
Image1: © Hamburg Messe und Congress / Katrin Neuhauser
Image2: © Hamburg Messe und Congress / Nicolas Maack
Image3: © Hamburg Messe und Congress / Michael Zapf
 
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Following an extended scholarship program called +100 scholarships through the non-profit organization SYN-ENOSIS of the Union of Greek Shipowners (UGS), an exciting awarding ceremony took place in an atmosphere of pride and gratitude at the Pillars of Olympius Zeus.

UGS granted 100 Master and PHD programs of 1-2 years duration plus one excellence scholarship.

The scholarship evaluation committee consists of prominent shipping and academic personalities, chaired by Mr. Ioannis Xylas.

In her speech Ms. Lia Baloglou, representing the Minister of Culture Mrs Lina Mendonis told that UGS supports young children by investing in the future of the homeland.

It should be noted that the UGS has spent 130 million euros in recent years to support Greek society with cultural aid actions and the provision of scholarships.

The scholarships were funded by 65 shipping companies for studies at 52 universities in Greece and abroad in all fields of knowledge from business administration to the culture and arts.

In her speech, the president of the Union of Greek Shipowners, Ms. Melina Travlou, emphasized that through this ambitious program, the scholarship holders will become the ambassadors of Greece following the routes of Greek controlled ships that trade around the world.

Finally, Ms. Travlou paid tribute to the children efforts and their families support.

The scholars expressed their gratitude to the Union of Greek Shipowners for helping them with their studies and urged all the children of this country not to give up and pursue their dreams.

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With discussions regarding the IMO's (International Maritime Organization) Carbon Intensity Index (CII) due to recommence at their Marine Environment Protection Committee (MEPC) 82 meeting in September, INTERCARGO, the association of dry bulk shipping companies, together with the other global shipping associations, have issued a pertinent joint policy statement to the IMO calling for changes to the flaws in the CII.

Along with CLIA, BIMCO, InterManager, ICS, and INTERTANKO, INTERCARGO has indicated that the CII in its current format is inadequate and its one-size-fits approach, has inherent flaws that unfairly punish the shipping industry, particularly the dry bulk sector.

In line with the IMO’s strategy to reduce emissions from shipping, the sector is actively striving to do all it can to achieve the goal of being carbon free by 2050. However, due to serious shortcomings with the CII metric the shipping industry is calling on the IMO to amend the current way the CII is applied, in order to avoid unintentional outcomes that conflict with the IMO Strategy to reduce overall greenhouse gas emissions.

In addition, INTERCARGO is calling on the regulatory authorities to work in closer cooperation with the shipping industry and flag states, to ensure that the true environmental performance of vessels is reflected in the CII.

Kostas Gkonis, Secretary General of INTERCARGO, said: “In March the IMO recognised the concerns raised by the shipping industry relating to the shortcomings and unintended consequences of the CII, resulting in agreement that it should be reviewed. The IMO has, so far, received 78 submissions calling for amendments and/or highlighting the concerns of the CII. INTERCARGO and the rest of the shipping industry will be part of the solution to these issues, and we look forward to the commencement of the CII review at the IMO’s Marine Environment Protection Committee in the autumn.”

INTERCARGO and its members remain fully committed to safe, sustainable shipping in clean oceans and in line with IMO targets, we will continue to strive to be carbon free by 2050.

The full joint policy statement can be viewed here: https://www.intercargo.org/wp-content/uploads/2024/07/Policy-Statement_CII_9-July-2024_final.pdf

Image: Kostas Gkonis, Secretary General of INTERCARGO

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Watson Farley & Williams (WFW) advised ABN AMRO Bank N.V. and ING Bank N.V. (ING) on a $245m term loan facility granted to Tsakos Energy Navigation (TEN) for the financing a fleet of tanker vessels.

WFW acted as lead counsel on the transaction and assisted ABN and ING throughout the life cycle of the transaction, from the negotiation and execution of the facility to the delivery of each vessel.

Amsterdam headquartered ABN AMRO is the Netherlands’ third largest bank and leading international provider of retail, private, and corporate banking products and services. Also based in Amsterdam, ING is one of the largest banks worldwide with US$975.6bn total assets.

TEN (NYSE “TEN”) is a world-leading tanker operator, listed on the New York Stock Exchange since 2002. It specialises in transportation services for crude oil, petroleum products and liquefied natural gas (LNG) to national and international oil companies and refineries.

The WFW Athens Assets & Structured Finance team that advised ABN and ING was led by Partner and Athens Office Head Alexia Hatzimichalis, supported by Senior Associate Pavlos Maris and Associate Vassia Angeletaki.

Mrs Hatzimichalis commented: “This was a noteworthy transaction whose size highlights the ongoing commitment of major conventional European banks to supporting the maritime industry. We wish to thank all parties involved for the seamless cooperation which enabled the deal to close so smoothly”.

 image: Dr. Nikolaos Tsakos, President & CEO of Tsakos Energy Navigation (TEN)

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Seachef HS, one of the leading providers of integrated maritime hospitality management, is celebrating its 30-year anniversary this year. The company is using this special milestone to expand further into the Greek market and only recently opened a new office in Athens to better serve its clients in the Hellenic Republic. On 4 July, clients and business partners were invited to the Ark in Glyfada, Athens, to celebrate the company’s anniversary. Managing

Director Yannis Petrakis reflected on the past three decades in front of the 150 guests: “Thirty years ago, the Schulte Group founded Seachef Hospitality Services, embarking on a remarkable journey with a vision to create something extraordinary, something that would make a difference in the maritime world. And we achieved this by becoming the first company to introduce the concept of catering and housekeeping management for merchant vessels. Today, as I look around this beautiful venue by the sea, I am filled with pride and gratitude for how far we have come.”

Established in 1994, the company today has more than 100 clients and serves a fleet of more than 500 vessels in over 750 ports worldwide. It has a pool of more than 1,200 catering crew members from over 40 nationalities. Focusing on the day-to-day nutritional requirements of more than 40 nationalities on board and maintaining the overall hygiene over a variety of ships trading worldwide, Seachef HS is proud to have achieved a customer satisfaction rate of over 90% year on year. However, its services go far beyond catering management, stretching from menu planning and inventory management to procurement services and catering budget management.

“Our success is based on being able to create a win-win situation for ship owners and seafarers. We create value by simplifying how food is purchased, handled, and consumed without compromising quality, safety, environmental and regulatory standards. Keeping a ship’s crew happy and healthy contributes directly to the efficiency of the vessel,” explained Petrakis. “As we embark on the next chapter of our journey, we will continue to push the boundaries of what is possible, to strive for excellence in everything we do, and to make a positive impact on the world around us.”

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Libra Philanthropies, an independent 501(c)(3) foundation established in 2023 by the Logothetis family to expand upon and perpetuate the legacy of social responsibility initiatives carried out over the past decade by its sister organization, Libra Group, established the “Philippe A. Embiricos (1968) Fellowship in Ocean Engineering” at the Massachusetts Institute of Technology (“MIT”), with a total $500,000 gift.

“The Philippe A. Embiricos (1968) Fellowship in Ocean Engineering will stand an important marker of Mr. Embiricos’ legacy and be a valuable bridge between people at MIT and in Greece as we work together to develop the next generation of ocean engineering leaders in pursuit of a sustainable maritime future,” says Themis Sapsis, professor of mechanical engineering, the William I. Koch Professor, and Director of the Center for Ocean Engineering at MIT.
Honoring the remarkable legacy of Mr. Philippe Alexander Embiricos, a pioneer in improving the environmental footprint of global shipping, his daughter, Nitzia Logothetis, Founder and Clinical Director of the Seleni Institute, alongside her husband George Logothetis, Executive Chairman at Libra Group and Chairman of the Libra Philanthropies’ Board, have initiated this fellowship through Libra Philanthropies’ Rising Global Leaders program. Housed in MIT's Center for Ocean Engineering, the fellowship aims to inspire and empower talent from Greece to become trailblazers in maritime innovation.

Expressing her heartfelt sentiments, Nitzia Logothetis stated: “I loved my father dearly, and dearly love that his legacy will endure through this scholarship. He would be so very proud, and that makes me proud".
Throughout his decades-long career, Mr. Embiricos was a prominent and beloved figure in international shipping, renowned for his outspoken and insightful views. A member of several industry committees and boards, he served on the Advisory Board of the Panama Canal Authority and on the Executive Committee and Board of Directors of the Baltic and International Maritime Council (BIMCO), among others. Aside from his vast commercial career, his extensive contributions included authoring seminal books and earning a bachelor’s degree in Naval Architecture and Marine Engineering from the University of Durham, as well as a Master's degree in Shipping and Ship-building management from MIT.

The “Philippe A. Embiricos (1968) Fellowship in Ocean Engineering” will serve as a beacon of opportunity, nurturing talent, promoting innovation, and cultivating leadership in the pursuit of a more sustainable maritime future. The fellowship, which represents a five-year commitment with the possibility of renewal, falls under Libra Philanthropies’ Rising Global Leaders social impact program, dedicated to nurturing emerging leaders through higher education fellowships, access to transformative experiences, and career development opportunities, across the world.

About Libra Philanthropies

Libra Philanthropies, established in 2023 by the Logothetis family as an independent 501(c)(3) foundation, is dedicated to perpetuating and scaling the legacy of social responsibility initiatives carried out by our sister organization, Libra Group, over the past decade. Libra Philanthropies comprises 10 philanthropic initiatives that include social impact programs, strategic giving, and independent nonprofits that the Libra ecosystem has incubated. Addressing many of the world's most complex and urgent challenges, our programming impacts more than 25 million people across 326 organizations in 183 countries, transforming the trajectory of future generations.

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Piraeus Port Authority S.A. at its Annual General Meeting of shareholders briefed on the Company's progress and current developments, questions were answered and positive comments were made for the Company’s excellent financial performance despite the difficult situations.

It is noted that all items on the agenda were approved by a majority vote, including the Annual Financial Statements and the Dividend Distribution for the Company's shareholders for the fiscal year 2023 (from January 1, 2023, to December 31, 2023). The gross dividend amount, as proposed by the Board of Directors, was set at 1.34 euros per share, reflecting a 29% increase compared to 2022.

Key highlights from the Annual Financial Report for the year 2023: Total revenues of €219.8 million, marking an increase of 12.9% or €25.2 million from €194.6 million in 2022. Profits before taxes rose to €96.2 million, up by 28.8% from €74.7 million in 2022, while Profits after taxes increased to €66.8 million, a 26.3% rise compared to €52.9 million in 2022.

The figures above constitute the Company's highest achievements to date in terms of revenue and profitability, underscoring Piraeus Port Authority S.A.'s continual improvement in historical performance for the third consecutive year.

The Chairman of Piraeus Port Authority S.A., Mr. LIN Ji, who led the General Assembly, thanked the shareholders for their trust, as well as the Company’s Management and employees for their continuous effort. He noted: "Our Company's upward trajectory and improved financial results, notably for the third consecutive year, demonstrate that our strategies for port development and modernization, along with significant operational decisions, are heading in the right direction. They create the right conditions for establishing Piraeus as one of the top ports in the Mediterranean and Europe. The largest Greek port keep delivering high quality integrated port services, ensuring its industry reliability and competitiveness. Combined with our commitment to sustainable growth, environmental stewardship, and systematic contribution to society and future generations, we are laying solid foundations for a resilient port that creates benefits and, above all, value for everyone, both now and in the future".

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Solutions must be in place to help ship owners with navigating the complex challenges of complying with the new FuelEU Maritime regulations, says Columbia Group.

The introduction of Fuel EU Maritime restrictions that will enforce a reduction of carbon intensity levels on vessels by 2% next year is a challenge ship owners and managers trading in and out of EU waters will need to address and prepare for over the next six months.

The European Union has introduced the regulations as part of its Fit for 55 directive, which aims to reduce CO2 emissions with the maritime sector in the EU by 55% by 2030. The regulations will ensure that the greenhouse gas (GHG) intensity of fuels used by the shipping sector will gradually decrease over time. The reduction will begin at just 2% in 2025 and will eventually rise to 80% by 2050.

In order to help guide ship owners and managers through the complex process, Columbia Group has launched a new one-stop shop platform which will help companies create a long-term strategy to ensure they are meeting the new emission targets and reporting data correctly, such as fuel consumption, CO2 emissions, and distance travelled. Thanks to its amazing technology and the use of AI, it can streamline these processes, providing accurate and efficient solutions that adapt to the evolving regulatory landscape.

Philippos Ioulianou, Director of Energy and Renewables at Columbia Group, said: “These new restrictions are going to have a big impact for owners and managers and it’s important they look at what measures they are going to need to take to comply with the regulations and to avoid hefty fines. At Columbia Group, we believe that sustainability and profitability can go hand in hand”

EmissionLink, a pioneer in environmental technology, proudly launches a platform that has been created to help guide companies through the process and take the pressure off them. The platform creates transparency in managing the fuel life cycle from bunkers supply to consumption and emissions. It can collect, clean, analyse and forecast emissions data. By using this platform, clients can feel safe in the knowledge they have a reliable partner who can also help them create long-term green strategies for the future.

“We will be able to not only help our clients put measures in place to reduce their carbon intensity levels but we can also handle inputting and analysing the data as well. Our mission is to empower the shipping industry with the tools and knowledge they need to achieve their environmental goals while maintaining competitive advantage. Through continuous innovation and dedicated support, we are committed to driving the global transition to a low-carbon economy” says Mr. Ioulianou.

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