• Follow Us On Our Preferred Social Media Platform:

Singapore: OSM becomes first Greek ship owner to join hands with GCMD as impact partner

01 Feb 2023

The Global Centre for Maritime Decarbonisation (GCMD) on Tuesday (31 January) said it has signed an Impact Partnership Agreement with Olympic Shipping and Management SA (OSM), committing to a five-year collaboration to accelerate shipping’s decarbonisation across geographies.

Onassis Foundation-controlled Greek owner OSM is the first Greek ship owner and manager to come onboard GCMD as a centre-level partner. OSM’s current fleet comprises 18 crude oil tankers. As an Impact Partner, OSM will provide a cash contribution towards pooled resources for GCMD’s projects, as well as in-kind contributions in terms of technical expertise and data and access to hard assets, in support of GCMD’s existing trials on drop-in green bunker fuels and shipboard carbon capture and new pilots in the pipeline.

George Karageorgiou, President and CEO of Olympic Shipping and Management S.A., said: “Actions are necessary to accelerate the pace of the global energy transition and the decarbonisation of our industry. Actions are better accommodated and achieved through synergies and collaborations. We feel therefore honoured to join forces with GCMD, the global centre that supports its members to meet or exceed the IMO goals. Excited to join the group and work with such a diverse range of knowledge and expertise for viable and sustainable solutions.”

Greece is one of the world’s top shipowning nation in tonnage. With a total of 384 million DWT and 4,870 vessels, Greece alone accounts for about 17.6% of global shipping. Within the EU, Greek shipowners owns about 59% of the EU-controlled fleet. Greece ranks highest in the tanker market with a fleet value of USD 56.2 billion, owns the second most valuable LNG fleet worth USD 29.1 billion , and is dominant in bulker, tanker, LNG and LPG segments. It is therefore critical for the Greek shipping community to be part of the decarbonisation conversations, GCMD added. 

Onassis Foundation President, Antonis Papadimitriou, said: “We are very happy that Olympic Shipping and Management will join the Global Centre for Maritime Decarbonisation. The Onassis Foundation actively supports the aim of Olympic to reach zero carbon on its fleet by 2050 as well as sustainable and responsible shipping”.

Professor Lynn Loo, CEO of the Global Centre for Maritime Decarbonisation, said: “The Onassis-Olympic Shipping Group brings a recognised Greek brand to the forefront of the global decarbonisation agenda. GCMD’s goal to benefit the maritime sector is aligned with that of the Onassis Foundation to benefit the public. We are proud to have OSM join us as an Impact Partner and are hopeful that this marks the beginning of greater collaboration with the Greek shipping community.”


Photo credit: Global Centre for Maritime Decarbonisation
Published: 31 January, 2023

Related News

Featured News

Our Industry Partners

PR Newswire