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The Union of Greek Shipowners supports the Greek Prime Minister’s call for a European Research Centre for Alternative Marine Fuels and Technologies and stands ready to engage

Veniamis E. Theodore, President, Union of Greek Shipowners

The Union of Greek Shipowners (UGS) welcomes the timely initiative of the Greek Prime Minister, Mr. Kyriakos Mitsotakis, to propose the creation of an EU Research Centre for Alternative Marine Fuels and Technologies for the decarbonization of the shipping sector. 


“We support the Prime Minister’s pertinent proposal for the creation of a Research Centre for Alternative Marine Fuels and Technologies in the EU. With its proven maritime know-how and long-standing experience and scientific expertise Greece, the world’s leading maritime nation, can contribute to this end. We are keen to work with the EU institutions and all interested parties to move Greece’s proposal forward in order to support the major effort required to deliver real environmental benefits along with a sustainable EU shipping sector”, the President of the UGS, Mr. Theodore Veniamis, stated.


The UGS has consistently advocated that no technology is currently available at the scale required to deliver substantial reductions in Greenhouse Gas (GHG) emissions from ships. Without mature new marine fuels and related technologies available worldwide, the decarbonization of shipping will not be feasible within the timeframe expected. Furthermore, the European Commission’s proposal to extend the EU Emissions Trading System (EU ETS) to international shipping needs to be effectively in line with the “polluter pays” principle which entails compliance by the commercial operator of the ship. This principle is acknowledged in the context of the Greek Prime Minister’s proposal towards the European Commission.


“We value the acknowledgement of the importance of maritime transport to the EU and the world at large and the recognition of the role of out-of-sector stakeholders, such as fuel producers and suppliers, commercial operators/charterers, shipyards and engine manufacturers, in providing the shipping industry with the appropriate means for decarbonization. Without their instrumental contribution, the shipping sector will remain carbon captive and its long-term sustainability will be seriously threatened”, Mr. Veniamis continued. 


“We also stand ready to cooperate with the international community and all stakeholders at the International Maritime Organization with which Greece has deep ties and trust. Greek shipowners are fully committed to the decarbonization of our industry as soon as possible and are working proactively towards this goal”, Mr. Veniamis concluded.