The 28^th edition of the biennial Posidonia Exhibition came to an end today proving once again that it is the most sought-after event to conduct business and set the policy agenda for an industry that controls over 80% of the world trade and is projected to be worth $4.2 trillion by 2031, growing at a CAGR of 7% till 2031.

The eagerly anticipated Press Conference of the Union of Greek Shipowners (UGS), held every two years at Posidonia, was the icing on the cake of an incredibly busy programme of 68 shipping star-studded conferences and seminars during the exhibition’s five-day span.

The UGS Press Conference was led by Melina Travlos, President of the UGS, the Vice-Presidents, Michael D. Chandris and Andonis T. N. Lemos, the Secretary, Dimitrios J. Fafalios, the Treasurer, John A. Xylas and theMember of the BoD, John C. Lyras.

Addressing representatives of Greek and international media, Ms Melina Travlos answered to questions about the current challenges of the shipping sector and focused on the issues of maritime education in Greece, decarbonisation and the strategies for the sustainability of the industry, as well as the strong social footprint of the Union of Greek Shipowners.

Records also broke on the exhibition floor where organisers saw an increase of some 4% in exhibiting companies compared to the previous edition and a significant rise of over 10% in the number of visitors who are expected to tally up to a total of over 30.000.

Business was booming also during the event with major maritime industry players coming together to finalise significant deals such as the Atlas Maritime order for another pair of Suezmax vessels to DH Shipbuilding in South Korea in a move that will bring Leon Patitsas’ current orderbook above the $2 billion mark.

ONEX Group signed an agreement with leading international tug design company Robert Allan for a production line of 30 tugs worth 280 million euros, with at least 20 of them to be completed by 2026, in a strategic cooperation slated to change the landscape in the Greek market, as the exclusive rights for the construction of a specific series of tugs in the country are granted to the ONEX Group.

Two South Korean companies, KR and HD Hyundai signed a MoU to collaborate on the pilot project of a cloud-based next-generation smart ship solution (ISS 2.0) developed by HD Hyundai. This project aims to equip and demonstrate next-generation smart ship solutions on vessels. KR plans to conduct technical reviews based on classification rules as well as domestic and international regulations, verifying the suitability of the next-generation smart ship solutions

Also, Evangelos Marinakis, founder of Capital Maritime & Trading Corp, celebrated an order for six LNG dual-fuel-capable Very Large Crude Carriers (VLCCs) with the Chinese shipyard CSSC. This move highlights his significant investment in dual-fuel technology, positioning Capital Maritime as a leader in environmentally friendly shipping solutions.

Still at Posidonia 2024, classification society Lloyd’s Register and Guangzhou Shipyard International (GSI) signed a joint development project for the design of the world’s largest very large ammonia carrier (VLAC). Carrying capacity of 100,000 cu m, the vessel will feature an independent IMO type B tank for the safe storage of ammonia which is expected to optimise its operational efficiency.

In addition, Athens-based Franman announced its appointment by Saudi Arabia’s International Maritime Industries (IMI) as the exclusive agent for Greece and Cyprus. This agreement makes Franman the sole agent responsible for promoting IMI’s Maintenance, Repair & Overhaul (MRO) business to potential clients based in the two markets.

Saudi Arabia’s SIRC and Hellenic Environmental Center S.A. (HEC) signed an agreement to strengthen SIRC’s commitment to sustainability in marine management.

Classification society DNV and Artemis Technologies Ltd signed a new memorandum of understanding (MOU) on the development, certification, and operation of electric foiling vessels, while Lloyd’s Register (LR) and Guangzhou Shipyard International (GSI) signed a joint development project (JDP) for the design of the world’s largest VLAC (Very Large Ammonia Carrier) with a carrying capacity of 100,000 cbm.

ABS also signed an MoU with HD Korea Shipbuilding & Offshore Engineering Co., Ltd. (HD KSOE); HD Hyundai Heavy Industries, Co., Ltd. (HHI); and the Liberian International Ship & Corporate Registry (LISCR) to collaborate on the application of artificial intelligence (AI) to eliminate ship safety blind spots.

MAN Energy Solutions signed a MoU with Eastern Pacific Shipping (EPS) on the development of crew training for the handling of ammonia as fuel on vessels.

And CAPITAL GAS, ERMA FIRST, and BABCOCK have signed a Letter of Intent (LoI) for the installation of an innovative Carbon Capture and Storage (CCS) system, CARBON FIT, on four new liquefied carbon dioxide (LCO2) transport ships.

Theodore Vokos, Managing Director, Posidonia Exhibitions S.A., said: “Posidonia has once again proven to be a crucial platform for business deal-making, fostering connections and collaborations that drive the maritime industry forward. It has become a cliché but this year’s Posidonia has undoubtedly been the most successful in its history. The innovations showcased on the exhibition floor were truly ground-breaking, and the knowledge shared during the various conferences and seminars was exceptionally inspirational. The volume and quality of our visitors exceeded all expectations, making the event an extraordinary success. It’s exhilarating to return with such a positive impact. We are profoundly thankful for the unwavering support of the global maritime community.”

Posidonia 2024 was organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.