The President of the Union of Greek Shipowners, Mr. Theodoros Veniamis, during the customarypress conference of the Greek and foreign journalists in the context of the 2018 Posidonia International Shipping Exhibition, pointed out in his introductory speech the following:

“Posidonia 2018 found our shipping industry steadfastly maintaining its leading position, both in quantitative and qualitative terms, in the international shipping ranking, having successfully metthe challenges of the particularly difficult freight rate market of previous years and other challenges. At the same time, our Union, as the institutional representative body of the Greek shipowning community, with consistency and persistence, has continued and will continue to uphold the positions ofGreek shipping in the international fora, having proven over time that it makes substantiated proposals based on its know-how and its long maritime experience. I want to assure you that the strength of our voice is respected and acknowledged today more than any other periodof time at all levels, having undoubtedly recognized the Greek shipping as a major player in the international maritime environment.

During the many bilateral meetings that we had during the Posidonia period with the IMO Secretary-General, Mr. Kitack Lim, the EU Transport Commissioner, Ms Violeta Bulc, as well as with state delegations and private maritime stakeholders, we have emphasized to everyone that the shipping industry, although it is the most environmentally friendly mode of transport, is being called unjustifiably to implement legislation and environmental targets, whose achievement depends primarily on other stakeholders, such asthe ship machines’ manufacturers and oil companies. And, in addition, we must not forget that the needs of world trade are constantly increasing to the benefit of the welfare of nations and thus shipping is called upon to respond to the increased demand for high-quality maritime transport services to meet these needs.

We will therefore use all the open channels of communication and formal consultation we have developed to promote realistic and so feasible,in terms of implementation and effectiveness, proposals to address current environmental challenges.

Finally, I will repeat that, in order to continue our successful course, we must remain competitive. The term "competitiveness" is the key to the survival of every shipping industry and must be a common goal of the industry and the State as well as of the European Union as our shipping is an integral and strategic part of it.”

When it comes complying with the IMO’s 2020 0.5\% low sulphur regulation scrubbers have not received much good press, but a mix of anlaysts,researchers and classification society officials at Posidonia all saw them as a good solution attracting serious interest especially forlarge vessels.

Speaking at the Bimco Power Panel, Henriette Brent-Petersen, md and global head of shipping and offshore research at DVB Bank, said: “I think the market will be surprised how many investments we will see in scrubbers.

The fleet is relatively young so for young assets if you have difficulties in securing employment this is a competitive advantage.” She added “it’s also a competitive advantage when securing your financing.” This view was backed up by Stamatis Fradelos, manager operational & environmental performance – global marine for ABS, also said that for newbuildings fitted a scrubber had become “almost standard”.

Fradelos said that even for vessels that had been ordered without scrubbers owners were now looking at getting exhaust gas cleaning systems fitting or having them scrubber ready. James Leake, analyst at N.S. Lemos saw very strong reasons to fit scrubbers, to large vessels such VLCCs. “In very specific circumstances the decision to invest in a scrubber is quite clear. If you spending most of your time in the deepsea trades going past some of the major bunkering ports and you’re a large ship, depending on the fuel price spread, we’re looking at pay back times of maybe 8 – 12 months for something like a VLCC,” said Leake. However, he added: “I think it is a no brainer but the opportunity to take advantage of this is a very narrow one.” The opportunity is narrow due to the limit in number of scrubbers that can be fitted by 2020 – estimated at 2,000 to 2,500 systems – and that come 2021/22 the price spread between high sulphur and low sulphur fuel oil will start to narrow increasing the payback period.

Leake also warned that come 2025 the switch to electric vehicles (EV) will start to impact the demand for gasoline, which will be bad news for shipping. While charging infrastructure and range limits remain a concern for EVs the fact they are much cheaper to manufacture on a large scale than their petrol-powered cousins will see a shift in the market by the middle of the next decade, according to Leake.

Source: Posidonia Events

LR, in a ceremony at Posidonia 2018, presented Gerassimos Ventouris – Chief Commercial Officer – with an ‘Attestation’ relating to Capital Ship Management Corporation’s ‘Excellence in Ship Management and Operations’.

LR was commissioned to provide independent evaluation of Capital’s fleet and corporate performance, covering operations of its managed LR classed fleet of 34 vessels (tankers, bulk carriers and container carriers) over a 5-year period, from 2013 to 2017.

Gerassimos Ventouris commented: “It is with great pride and honour that I receive this attestation on behalf of the whole Capital Ship Management team. We are extremely proud of the efforts made and the results we obtained in our operation of a wide variety of ships ordered, built and delivered to our company, varying in size from 14,000 to 320,000 dwt tankers, 1700 to 10,000 TEU container ships, 35,000 to 160,000 bulk carriers. It is a team effort and the credit goes to all our staff for their excellent input. We say in Greece that “the toughest enemy of good is better” and we shall continue to take on that enemy with the same dedication and effort as we have all these years.”

LR CEO, Alastair Marsh, commented at the ceremony: “LR is delighted to be able to attest to the implementation of the Capital Management System having contributed continual improvement to Capital’s reported performance indicators throughout the five year period examined, from 2013 to 2017.”

He continued, “This is an important announcement, as it not only benchmarks their fleet and corporate management performance against market standards but provides a continued commitment of excellence.”

Stavros Meidanis, Capital’s DPA and Safety Manager, concluded: “This award represents Capital’s commitment to Safety, Environmental and Energy Standards, in accordance with International Rules and Regulations and Industry Best Practices. This achievement belongs to all our people ashore and on board, for their dedication to safety and safety culture. We will continue to stay focused on our strategy for safety performance and operational efficiency, understanding future industry trends and developments, securing at the same time a successful and sustainable long-term business.”

Theodosis Stamatellos, LR Marine & Offshore Regional Manager for South Europe, added: “It is great to support a client who takes a proactive approach to their ship management and operations. There are a lot of learnings here of wider benefit – the strengths of the Capital Management System include strong leadership engagement and accountability, aligned governance across the corporation, and a standardised Management System Process that provided evidence of sustainability and continual improvement.”
Source: Lloyd’s Register

LONDON (Reuters) - Former senior Goldman Sachs and HSBC banker Matthew Westerman is launching a private investment firm alongside a former colleague and a Greek shipping tycoon, he said on Friday.

Westerman will partner his former Goldman Sachs colleague Julian Metherell and Peter Livanos, who owns Greek shipping company Ceres Hellenic, in a new firm called MW&L Capital Partners.

The trio will invest in small-to-medium sized targets based on knowledge built up in their respective careers covering financial services, oil and gas, and shipping, Westerman said.

“We think there is a gap in the market for long-term capital; ours is not ‘5 year fund money’ so we don’t have money burning a hole in our pockets and we can afford to be flexible and supportive of management when we see an opportunity,” Westerman told Reuters by phone.

The firm will look to partner with other investors where it makes sense, Westerman said.

Westerman left HSBC in November, just under two years after he was hired from Goldman Sachs with a mandate to shake up the lender’s investment banking division and improve performance.

A rare external hire for such a senior role at HSBC, Westerman made sweeping changes after his arrival in February 2016, including cutting dozens of senior bankers and cracking down on staff who did not spend enough time meeting clients.

 
Metherell was the co-head of Goldman Sachs’ British investment banking business when he resigned from the U.S. bank in 2011 to launch Vallares, an investment vehicle focused on the energy sector, with former BP Plc Chief Executive Tony Hayward.

Sky News earlier on Friday reported the launch of the venture, citing an email sent by Westerman to contacts.

reuters.com

At the Posidonia trade fair today (07/06), Classification society DNV GL announced the release of its first class notations to help shipowners and operators protect their assets from cyber security incidents.

The new class notations – Cyber secure – help owners and operators protect vital systems from cyber security threats. They will be published on the DNV GL rules page on 1 July 2018.

“Whether in machinery, navigation or communication systems, programmable control systems are a longstanding and essential part of ships and offshore units, but the increasing integration and connectivity of these systems represents an ever-larger target for cyber-security threats,” said Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “As all programmable components are theoretically vulnerable to cyber security threats we have set out, with the new Cyber secureclass notations, to offer owners and operators a framework to improve and demonstrate their cyber resilience.”

The Cyber secure class notations have three different qualifiers: Basic, Advanced and +. Basicis primarily intended for ships in operation, while Advanced has been designed to be applied throughout the newbuilding process, with requirements for asset owners and operators, system integrators (e.g. yards), and equipment manufacturers. The Basic and Advancedqualifiers cover a number of essential systems, including propulsion, steering, navigation, and power generation. The third qualifier, +, is intended for systems that are not part of the default scope of Basic/Advanced. This gives owners and operators the flexibility to identify the threats, assess, and secure extra systems which are of particular importance to their operations. 

The Cyber secure class notations build on DNV GL’s Recommended Practice (DNVGL-RP-0496) on cyber security and extends to the cyber security assessment of control system components type approval program DNVGL-CP-0231, with which makers can now demonstrate the security of their systems through an independent verification process.

DNV GL has also developed a wide range of services in close collaboration with several major ship owners aimed at enhancing the cyber security of their assets. Through its Maritime Academy, DNV GL offers both classroom training and e-learning modules aimed at developing customised working cyber risk management methodologies and increasing the awareness for cyber security related issues among crews and shore staff. DNV GL also helps customers measure the awareness level of crews and shore staff via penetration testing, which is offered not only on the technical level (penetration testing of business networks, computers and onboard machines) but also at the human level. Using social engineering techniques DNV GL can design friendly phishing campaigns, helping customers understand the awareness levels within their company and fine-tune the level and frequency of cyber awareness training. 

In addition, DNV GL recently worked with the P&I Club Gard on a video to build awareness and competence among crews and others. It focuses on daily tasks and routines, and aims to de-mystify the cyber security issue as well as providing concrete recommendations on how to prevent cyber incidents. The video can be found here: dnvgl.com/csvideo.

Maritime Cyber Security Posidonia Press event June 7th 2018

 

As the shipping industry continues its push to reduce emissions to air, classification society DNV GL announced a new class notation for exhaust gas cleaning systems (EGCS).

 

The new notation, Emission reduction (ER), will cover not only scrubbers for removing SOx, but selective catalytic reduction (SCR) and exhaust gas recirculation (EGR) systems for removing NOx. The new notation will be published in July 2018.

“As the 2020 IMO sulphur cap on fuel draws closer, we have been hearing more and more from ship owners and operators who are looking for guidance on the installation and approval of systems which reduce emissions to air,” says Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime. “We are very pleased to be able to offer the Emission reduction notation to our customers. This notation will enhance the transparency of the installation and approval process for owners, the yards, and class, and give owners the confidence to invest in these systems.” 

The interest in installing emission reductions systems, especially scrubbers, has risen dramatically in recent months. In May 2018, the total number of vessels either ordered or installed with scrubbers stood at 817, a jump of nearly 300 vessels in a space of only a few months. “This increase is due to several factors, but the trend is clear,” says Stine Mundal, Head of Section for Environmental Certification at DNV GL – Maritime. “At the same time, we are seeing that bulk and container vessels are the segments with the most installations, overtaking cruise vessels which had been the early adopters. This indicates that owners are making their solution decisions now and many are choosing scrubbers to comply with emissions restrictions.” 

The class notation sets out requirements for the design and arrangement of EGCS, SCR and EGR systems, including the piping systems conveying wash water and/or treatment fluids, the exhaust arrangements and components, control, monitoring and safety systems as well as manufacture, workmanship and testing. The ER class notation is a natural complement to DNV GL’s Scrubber ready notation, released in 2016, which enabled shipowners to prepare their newbuildings for the installation of a scrubber, giving them confidence that they were prepared for a smooth and cost-efficient scrubber retrofit. With ER, shipowners can now have the same confidence in the installation and operation of their new emission reduction systems.

DNV GL Insight_Environmental regulations

Speaking at the Posidonia trade fair in Athens, Knut Ørbeck-Nilssen, who will hand over the reins of IACS in July, examined how the association had evolved during his time as Chairman.

In an industry undergoing rapid change, the IACS Chairman identified the need for classification societies and IACS itself to be adaptable and prepared for change, while staying true to the core purpose of classification. 

Mr Ørbeck-Nilssen said that over the past year great progress had been made in modernising classification to deal with the digital transformation of shipping: “I’m pleased to see the progress that was made in modernising the concept of class, to adapt to the digital transformation we see in shipping today. I say transformation because the progress has truly been astonishing. IACS has embraced the challenges and changes ahead, to support the industry – contributing to the development of a safer and more secure maritime world. Looking ahead, the organisation needs to continue to focus on being agile in addressing relevant industry topics, to strengthen the role of class and to ensure that IACS keeps its position as the leading technical association in these times of rapid change,” he added.

“On behalf of the IACS organisation I would like to thank Knut and the DNV GL IACS team for the great collaboration throughout this chairmanship. The Chairman’s drive and ambition to modernise classification have prompted valuable discussions with the industry and the development of a robust long-term strategy that ensures the IACS organisation is fit for the future,” said Robert Ashdown, IACS Secretary General. IACS’ achievements during this chairmanship cover key areas such as autonomous shipping, cyber security, modern survey techniques, and internal benchmarking. 

In autonomy, an IACS working group has examined all the relevant resolutions, to identify which standards present potential regulatory barriers to autonomous ship operations. The findings included barriers relating to machinery and electrical systems, safety systems, hull structures and survey procedures. As a next step, a pilot project looked at how to overcome these barriers.

To help the maritime community ensure the cyber-resilience of their assets, IACS established a joint industry working group focused on cyber safety. In its own panel, IACS is developing a number of recommendations for the newbuilding stage to assist shipbuilders in delivering cyber-resilient vessels. 

As for the association itself, Mr Ørbeck-Nilssen noted that, for the first time in almost a decade, IACS has carried out a substantial revision of its membership criteria. In addition, a new internal benchmarking process supports members in improving their performance, while increasing the transparency of member’s quality performance. “These are important steps towards ensuring that IACS provides consistency in its high-quality support and becomes more transparent in its internal procedures,” said Mr Ørbeck-Nilssen.

In closing, Mr Ørbeck-Nilssen emphasised his belief in the continuing importance of IACS in changing and challenging times: “The industry is changing. Our ways of working may be changing. But the purpose of classification still remains the same: To protect life, property and the environment.”

About IACS
Dedicated to safe ships and clean seas, the International Association of Classification Societies (IACS) makes a unique contribution to maritime safety and regulation through technical support, compliance verification and research and development. More than 90\% of the world’s cargo carrying tonnage is covered by the classification design, construction and through-life compliance Rules and standards set by the twelve Member Societies of IACS. More information about IACS can be found by visiting www.iacs.org.uk

IACS Press Conference Posidonia Presentation

The American P&I Club together with affiliate American Hellenic Hull Insurance Company maintained their tradition of holding a major reception for shipping guests on the eve of the opening of the biennial Posidonia shipping event in Greece.

The glittering event was held on Wednesday 30 May at Akrotiri Restaurant & Club in Aghios Cosmas, a coastal suburb of Athens. Attendees during a wonderful evening included many of the leading names of the Greek shipping industry, representatives of major international broking houses and financial institutions, and other prominent guests from the international maritime community. Greece's Minister of Shipping & Island Policy, Panagiotis Kouroumplis, also honored the event with his presence.

Underlining their support for the two organisations, guests included many shipowners from all over the world who are members of the American Club and/or insured with American Hellenic Hull. The hosts voiced their gratitude to the hundreds of guests who attended the reception, especially the many shipowners present. Deputy Chairman of the Club's Board of Directors, Markos Marinakis, welcomed the guests.

The Club Manager’s Chairman and Chief Executive, Joe Hughes said: “The American Club and its management deeply appreciate the support of the Greek shipping community, which is reflected in a continuous increase in membership and turnover.’’

As a highlight of his speech acknowledging the huge importance of Greek shipping for the American Club, the Manager’s President and Chief Operating Officer Vincent Solarino entertained the audience with his own rendition of the classic Frank Sinatra song 'My kind of town', changing New York in the lyrics to Athens.

American Hellenic Hull Chief Executive Ilias Tsakiris thanked the shipping community for its faithful support of the hull & machinery insurer that has been operating for just two years but already insures a fleet of 2,500 vessels with gross premium of $18.5m.

 

The American P&I Club & Shipowners’ Claims Bureau Inc.

Headquartered in New York, the American Club is the only P&I mutual domiciled in the Americas. Part of the International Group, it offers full cover for Protection and Indemnity, Freight, Demurrage and Defense and Charterers’ Liabilities risks. In recent years, the Club has grown and diversified its services, offering also fixed-premium and H&M insurance options. In addition to New York, the Club's Managers, Shipowners Claims Bureau, Inc., have operations in London, Piraeus, Hong Kong, Shanghai and Houston. The Club's strong presence in Greece reflects the great importance of its local membership. The Club is honoured to serve this dynamic and highly influential sector of world shipping. For more information, visit Club’s website www.american-club.com.

American Hellenic Hull Insurance Company Ltd.

American Hellenic Hull is a private marine insurance company, which covers hull and machinery risks. It is 100\% owned and financially backed by the American P&I Club and exclusively managed by Hellenic Hull Management. The company is registered in Limassol, Cyprus and has affiliated offices in Piraeus, New York, Houston, London, Shanghai and Hong Kong. Its operations commenced on 1st July 2016. American Hellenic Hull is the first marine insurance company licensed in Cyprus under the requirements of the Solvency II regime. The Solvency II Capital Requirement establishes the amount of capital to be held by an insurance entity in order to ensure that ruin occurs no more often than once in every 200 cases or, alternatively, that the company will still be in a position, with a probability of more than 99.5\% to meet its obligations to policy holders and beneficiaries for the following 12 months. American Hellenic has successfully passed additional financial and operational stress tests, ensuring that it has sufficient capital to meet projected obligations for 36 months, thus providing a high level of protection to policy holders. For more information, visit company’s website www.ahhic.com.

 

 

 

 

YES Forum says YES to Shipping by organizing again, YES to Shipping Forum on Friday 8th June at Posidonia Conference Hall during Ρosidonia Exhibition 2018 at Metropolitan Expo.

vYES Forum was initiated by Danae Bezantakou, CEO - Navigator Shipping Consultants and is the first forum to be held under the auspices of the Ministries of Shipping & Education and the majority of Greek Universities, organized by a team of 60 volunteers.

YES Forum is the leading platform of open dialogue among the Decision Makers of the Greek Shipping and Sea Tourism Industry  and the Entrepreneurship in general, principals, executives and university students, recent graduates and young executives. What we are aiming for, is the next generation to become acquainted with the Greek Shipping History through our Collaboration with the Greek Shipping Miracle and the Posidonia Exhibitions as well as to exercise and practice their networking skills.

The President of the Union of Greek Shipowners, Mr. Theodoros Veniamis will address the opening remarks.

Moderators of the Forum will be:  George Teriakidis, Regional Manager of Business Development -DNV GL Maritime, George Xiradakis, Chief Executive XRTC Business Consultants Ltd and President of Propeller Club (Port of Piraeus), Danae Bezentakou, CEO of NAVIGATOR SHIPPING CONSULTANTS and Katerina Stathopoulou, Executive Director - INVESTMENTS AND FINANCE LTD.

This year, the participants on the day of the Forum, apart from having the opportunity to ask their questions, they will be able to either take part in organized visits to the Posidonia Exhibition stands or to participate in the logistics panel in order to become familiar with the Industry of Shipping Services

Submit your question and get your Free invitation in the following link http://yes-forum.com/yes-to-shipping-forum-2018/

Say  YES to Shipping  and we are looking forward to welcoming you on Friday 8^th June 2018!

Please click  here in order to find Forum’s Program.

YES forum will be conducted in the Greek Language.

The Location

Famous for many decades among world’s jetsetters and discerning travellers, Mykonos is one of the top summer destinations around the globe. The island of the winds, as it is called, nestled in the crossroads of the sea and the sun, gives birth to a stage of leisure, lavish accommodation and world-class entertainment.

The Concept

SantAnna offers unpretentious luxury and sophisticated entertainment on the prominent island of Mykonos. Located on Paranga Beach on the south of the island, protected from the Mykonian winds, boasts a Beach Club, 3 restaurants with Greek revisited cuisine, Sushi and a raw bar and one of the bigger next to the sea pools in Europe of 2,100 sqm. Retail shops, a spa and many different lounge areas are also available for the constant indulgence of the visitors with a choice of exclusive services upon request.

The Facilities

One of the largest beachfront salt water swimming pools in the Mediteranean (2,100sqm)
“Floating” Private “islands” with butler services and cozy decoration
private beach with crystal green waters and white sand protected from the winds of Mykonos
3 unique restaurants (Fine Dinning, beach tavern, Sushi bar)
4 bars
Beach Cabanas with beach lounges with full service
Poolside cabanas and lounges
Cigar & Shisha lounge
Fashion shops
Wellness & beauty treatments
Private events
Yachting services
Luxury transfers
Concierge services
Helipad
Restaurants and Bar

A la Carte Mediterranean revisited cuisine with fresh local organic ingredients with a wide selection of International and Greek wines and aged champagnes. Capacity 170pax
Sushi and Raw Bar with fresh Asian delicacies some of which will be including daily local catch. Capacity 80pax
Beach Tavern with "meze" sharing dishes and easygoing atmosphere. Capacity 80 pax
Extensive Cocktail and juice bar with wide choices of “super food” additives
Healthy, organic farm-to-table options which cover all dietary requirements
4 Bars. Total Capacity 150pax
Exclusive Services

Full Concierge Services
Tour and Travel Services
Helicopter Services
Free & Valet Parking
Private Cars - Private Yachting Services
Spa & massage therapies - Hair salon and nails services
Private photographer upon request
Private dining
Buttler service
Free Wi-Fi
24h Security - Private security upon request
First-Aid Services
The creators of the concept

While many global brands have flocked to Mykonos, it’s the visionary Greeks that truly keep the island going. Case-in-point: Greek restaurateur Dimitris Christoforidis and Chef Christos Athanasiadis. Christoforidis lived in LA from age 17 for nearly 25 years; his attitude is open, his ideas broad and his approach to restaurants and service, fine-tuned. He opened his first restaurant, Nice-n-Easy in the posh Kolonaki neighborhood of Athens. Christoforidis prefers sportswear to suits, and likes things done his way, like his favorite Frank Sinatra.

About

SantAnna is the newest project of the Nice-n-Easy Restaurant Group which includes six successful organic restaurants; Nice-n-Easy Mykonos at the island’s town and Nesaea with contemporary creative Greek island cuisine on Agia Anna Beach at Kalafatis, two Nice-n-Easy restaurants in Athens in Kolonaki and Kifissia, the newest addition of the group, the Italian bistro & bar Frankie in Athens, as well as “Exquisite" luxury catering services across Greece”.

The success of the group was highlighted by the title of the “Ruban D'Honneur” in the RSM European Business Awards 2016-2017, while all this time, Nice-n-Easy has been leading the trends in healthy eating, bringing to its followers the newest superfoods or cooking methods, while transforming every visit into a complete palate experience. But this is not, by any means, all to expect when creativity is in abundance... Surely there’s more to follow!