Capitalizing on the long established track record of organizing highly successful large scale maritime conferences in major industry centers around the world, the “8th Annual Operational Excellence in Shipping – Best Industry Practices” Forum took place on Tuesday, October 30, 2018 at the Hilton Athens Hotel.
With an 8-year track record it is the only Forum that showcases Operational Excellence in the Maritime Sector that explores Best Industry Practices across all major areas such as fleet management, technological innovation, crewing, energy efficiency and the environment, safety & security.
In Mr. Nicolas Bornozis’ welcoming speech, he stated that this year’s forum focused on “The Industry at Crossroads” as the industry has to decide on specific strategies addressing the challenges ahead. Thus, we focused on three main topics, all of which are game changers for the industry. The first one is the transformational impact of Technology and Digitalization. The second relates to the importance and necessity of Maritime Education. And the third one, to which we devoted the biggest part of the Forum refers to the upcoming Environmental Regulations and how these can impact the shipping industry from an operational, investment and risk/financial viewpoints. We deep dived into the three main areas, Ballast Water Treatment, Sulfur Cap and Decarbonization, as well as the outlook for Marine Fuels.
The Forum featured senior Executives from 29 leading shipping companies, 3 major classification societies (Bureau Veritas, DNVGL, Lloyd’s Register), the biggest registry in the world - Liberian Registry , IMO - International Maritime Organization, US Coast Guard, the heads of 4 International Organisations (BIMCO, European Community Shipowners Associations, INTERCARGO, INTERTANKO), International Banks (ΑΒΝ AMRO and DVB BANK), as well as EXXON MOBIL.
2018 CAPITAL LINK MARITIME CSR LEADERSHIP AWARD
In the context of the Forum the 2018 “Capital Link Maritime CSR Leadership Award” was presented to Mr. Philippe Louis-Dreyfus, Chairman - Louis Dreyfus Armateurs S.A.S.; Former President – BIMCO.
Mr. Panagiotis Laskaridis, President - European Community Shipowners Associations; CEO - Lavinia Corporation/Laskaridis Shipping Co. Ltd., delivered the Introductory remarks.
Mr. Panagiotis Laskaridis in his speech he stated: “We have gathered here today to honor a close friend for many years. When I first met Mr. Philippe Louis-Dreyfus, I wondered who this guy was, always telling me what is right and what is wrong; now I never open my mouth without asking for his opinion first. He has had two distinguished careers, in both banking and shipping, and is a very accomplished person all around.
Among other distinctions, Mr. Philippe Louis-Dreyfus is Commandeur of the Légion d’honneur and Officer of the British Empire. His honesty and perseverance have left a big impact in shipping and he has many friends in Greece.
Please join me in welcoming Mr. Louis-Dreyfus, a more than worthy recipient of this award.”
Mr. Philippe Louis-Dreyfus in his speech he stated: “Greece is traditionally the biggest country in shipping worldwide, given its fleet and presence in all international organizations. Shipping is important in Greece, and Greece is important for shipping. My sincere thanks to Mr. Laskaridis for his kind words, and to the organizers for compliments that are usually only uttered after one’s death. Thankfully, I am still very much alive.
Shipping is one of the oldest professions in the world. For me however, it is also the best one. You get to build something solid, lasting, and meet fine, dedicated and passionate people. Shipping is defined by its values: Solidarity and family.
Once again thank you to everyone for this prestigious award.”
(Mr. Philippe Louis-Dreyfus’ full speech is available online at the following link: http://forums.capitallink.com/csr/2018athens/.)
The “Capital Link Maritime CSR Leadership Award” was initiated 6 years ago aiming to recognize a person or an organization for demonstrating the highest level of commitment to Business Ethics and Best Industry Practices. Previous Honorees were Mr. Jeremy Penn, Dr. Nikos Tsakos, Mr. Efthimios Mitropoulos, Mr. Clay Maitland and Mr. John Platsidakis.
INDUSTRY PANEL & PRESENTATION TOPICS
Digitalization & Cybersecurity – Panel Discussion
Technological Innovation - Transforming Shipping
Moderator: Mr. Nick Brown, Marine & Offshore Director – Lloyd’s Register
Connecting Ports, Vessels & People
Presentation by: Mr. Andreas Chrysostomou, Chief Strategy Officer – Tototheo Maritime Ltd
Mr. Andreas Chrysostomou in his speech he stated: “Vessels carry the bulk of the world trade and ports facilitate the smooth transition from sea to shore of the goods carried by vessels. People on the other hand are the necessary actors that are required to operate the ships and the ports in order to complete this enormous and indispensable seamless transition.
Traditionally, this interconnected approach has created conditions for increased employment, prosperity and stability ashore. As we are rapidly approaching the instant gratification inflection point, though, where consumers demand products and services delivered anywhere at any time the concept of connecting vessels, ports and people has to be revamped so that goods and services are delivered in a real-time, all access and at a highly personalised approach.”
Innovative Shipyard Solutions
Presentation by: Mr. Charalambos Sarantitis, Technical Director - Newport Shipping
Mr. Charalambos Sarantitis in his speech he stated: “Cyclical industries stress cashflow and for routine dry dockings or ad hoc repairs this also impact a company's ability to operate the vessels efficiently. The shipping industry is not getting easier as the regulatory environment also impacts the technological demands further impacting operational knowledge and financial resource. At Newport Shipping UK LLP we bring together trusted partners including ship yards, engineering firms and competent staff to assist owners manage through the many demands of today and finance the cost to smooth out the cyclicality.”
Protectionism – Diversity – Marine Pollution: BIMCO’s Strategic Focus Looking Ahead
Presentation by: Mr. Anastassios Panagiannopoulos, President – BIMCO; CEO - Common Progress Co Na SA
Mr. Anastassios Panagiannopoulos in his speech he stated: “Shipping is in the middle of one of the biggest transitions it has ever confronted. Not just the transition to low sulphur fuel, but a transition into an era with more focus on the environment, and more regulation. It is not an ideal cocktail for the shipowners, facing a tough market, also to face a more unpredictable market with more regulations. But we must do our part to ensure the long-term sustainability of human activity on the planet. We must adapt. We must be curious. And we must invest in new technology and ideas to overcome the challenges ahead.”
(Mr. Anastassios Panagiannopoulos’ full speech is available online at the following link: http://forums.capitallink.com/csr/2018athens/.)
The Evolving Role of Women in Shipping
Presentation by: Mrs. Despina Panayiotou Theodosiou, President – Wista International; Chief Executive Officer – Tototheo Maritime Ltd
Mrs. Despina Panayiotou Theodosiou in her speech she stated: “Diversity is a very important aspect in today’s maritime industry. WISTA was founded in the UK 44 years ago and now exists in 46 countries and all continents. Last July, it gained consultant status at the IMO. We are working towards the UN’s sustainable goals, and specifically women’s empowerment. Women create value in many areas, and WISTA’s agenda has evolved beyond gender related issues, trying to create a competitive advantage by making the industry attractive to the best minds, of men and women alike. The progress that has been made is significant, but there is still a long way to go.”
Maritime Education – Panel discussion
Moderator: Professor Constantine Arcoumanis, ex-Ambassador of Greece for Energy Policy & New Technologies, ex-Vice President - City University of London
ENVIRONMENTAL REGULATIONS & THE INDUSTRY’S RESPONSE
Are Regulations Addressing the Real Problems in Shipping?
Presentation by: Mr. John Platsidakis, Chairman - INTERCARGO; Managing Director – Anangel Maritime Services Inc.
Mr. John Platsidakis in his speech he stated: “Ocean going tramp shipping, a mostly stateless business sector, is constantly overwhelmed by regulations.
174 member states at IMO, most of which have very swallow knowledge of ship operations and indifferent invested interests in the sector, are constantly regulating with the objective of pleasing the unaware public, the environmental NGOs and the media.
We should all do our best to make the public and the various politicians and regulators aware of how our industry works and explicitly tell them that we welcome good and practical regulations which improve ship operations and safe guard the environment, the safety of the ships, their crews and their cargoes.”
(Mr. John Platsidakis’ full speech is available online at the following link: http://forums.capitallink.com/csr/2018athens/.)
An Update on Implementation of U.S. Ballast Water Regulations
Presentation by: Commander Nathan Menefee, Deputy Director of Inspections and Compliance - US Coast Guard
Commander Nathan Menefee in his speech he stated: “The United States is without a doubt now in compliance mode, fully enforcing the U.S. ballast water standards. While the Coast Guard recognizes the challenges and complexities new systems can bring to vessel operations, vessel operators do have a key role to play to ensure their vessels can achieve and remain in compliance with U.S. and international requirements.
There is no single magic solution to the challenges of ballast water compliance; therefore, vessel operators must have a strategy to address these challenges directly in order to avoid potential delays and penalties.
Operators who have delayed or put off determining their compliance strategy with the U.S. or IMO Ballast Water Standards are increasingly navigating into danger due to the significant backlog of installations that must occur in between 2021 and 2023.”
Ballast Water Treatment - Panel Discussion
Moderator: Dr. Michalis Pantazopoulos, Managing Director – Liberian Registry – LISCR (Hellas) S.A.
IMO 2020 – Low Sulfur Cap Compliance: Options, Strategies & Economics - Panel Discussion
Moderator: Dr. George Dimopoulos, Principal Research Engineer - DNV GL
Decarbonization – 2020 Marine Fuels & Beyond - Panel Discussion
Moderator: Dr. John Kokarakis, Vice President, Technology & Business Development, Hellenic, Black Sea Region & Middle East – Bureau Veritas Marine & Offshore Division
IMO 2020 & Marine Fuels – An Oil Major's Viewpoint
Presentation by: Mrs. Armelle Breneol, Senior Marine Fuels Technical Advisor - ExxonMobil Marine
Mrs. Armelle Breneol in her speech addressed the International Maritime Organization’s (IMO) 0.50 per cent sulphur cap, requiring vessels to make a permanent, global change in fuel selection, unless operators opt to fit abatement technology.
This will necessitate the development of new low-sulphur fuel formulations, which in turn will require the use of low BN cylinder oils. In order to safely navigate these changes, ExxonMobil recommends that vessel operators start planning their bunkering operations well in advance of the IMO deadline and develop a fuel management strategy for 2020 and beyond.
Without prudent plans in place, operators run the risk of non-compliance and costly fines.
IMO 2020 – Risk, Finance & Insurance Implications
Moderator: Mr. Nikolaos Michas, Technical Service Manager – DNV GL – Maritime Region South East Europe & Middle East
Keeping Our Eye on The Ball: Shipping & The Environment - A Realistic & Practical Approach
Presentation by: Mr. George Procopiou, Founder – Dynacom Tankers, Sea Traders - Dynagas
Mr. George Procopiou in his speech he stated: “I would like to touch on the issue of IMO’s 2020 sulfur cap; the use of low sulfur fuel or the use of scrubbers. The concept is wrong, diverting the pollution from the air to the sea is not progress. The correct approach should be not to create this pollution in the first place. In parallel with the solutions of A) utilizing low sulfur fuel – if available, or B) installing scrubbers – again, if available (as the existing capacity and means can accommodate the instalment of scrubbers to only 6%-8% of the world fleet by 2020) – I propose another solution C) slow steaming. From the very first day of its implementation slow steaming reduces fuel consumption by 60%. This means 60% less CO2, NOx, SOx, and particles, taking into account the extra shipping that is needed – detailed calculations are available. In the meantime, engine builders and shipyards should be given a reasonable period of time to come up with designs that meet the required new standards.”
Quo Vadis? – The Industry at Crossroads
Presentation by: Μr. Nikos Tsakos, Chairman – INTERTANKO; President & CEO - Tsakos Energy Navigation
Μr. Nikos Tsakos in his speech he stated: “Mr. Procopiou’s idea about slow steaming could be correct, it just has not been as supported by lobbies as other ones have been. At the IMO’s meeting there were countries pushing for the regulations to be delayed until 2025, but there was little talk of slow steaming.
From our side, 2020 should be a refinery problem, not a maritime problem. We are the users, and we are being treated like guinea pigs, having those measures thrown at us. We have been asking the IMO for a practical period to test the new fuels, but it has not been accepted yet.
Lastly, let us not forget that Greece has a larger vested interest in the matter, compared to other countries.”
Challenges for European Shipping in a Changing World
Presentation by: Mr. Panagiotis Laskaridis, President – European Community Shipowners Associations; CEO - Lavinia Corporation / Laskaridis Shipping Company Ltd.
Mr. Panagiotis Laskaridis in his speech he stated: “In essence the speech will center on the different understandings of the term shipping between Europe and Greece.
More importantly, it will outline the general situation in Europe and highlight the importance of the European deepwater tramp fleet, amounting to more than 40% of the world’s carrying capacity, as Europe’s only important strategic asset of worldwide importance and which can project Europe’s strategic position in the world.”