25th January 2025 – 31st January 2025
LOCAL NEWS
1. 8th Annual Capital Link Cyprus Shipping Forum
On Tuesday, February 18, 2025, the 8th Annual Capital Link Cyprus Shipping Forum will take place at the Columbia Plaza in Limassol, Cyprus.
The Forum will take place under the Auspices of the Republic of Cyprus and the Shipping Deputy Ministry of Cyprus.
Our Union will be the Lead Sponsor of the Forum with several prominent Greek shipowners participating in the panels, such as Mrs. Semiramis Paliou, Mr. Stephanos Angelakos, Mr. Spyros Vlassopoulos and Mr. Aristides Pittas.
Furthermore, members of our Union’s executive committee will participate at the Forum, such as the President of our Union, Mr. Andreas Hadjiyiannis, as well as the Vice Presidents, Messrs. Polys V. Hajioannou and George Mouskas and Mrs. Nicole Mylona.
Please click here to see the relevant Agenda.
Related Article:
Attachment 1: Agenda - 8th Annual Capital Link Cyprus Shipping Forum - Tuesday, February 18, 2025
INTERNATIONAL NEWS
2. Commission publishes plan to enhance competitiveness of European industry - Competitiveness Compass
On Wednesday, 29 January 2025, the European Commission published the Competitiveness Compass, which aims to translate the recommendations of the Draghi Report into policy action. The tone of the European Commission document seems to be more political than usual, reflecting a wider concern about the geopolitical and economic challenges ahead. It begins by making a reference to “our freedom, security and autonomy” that “depend more than ever on our ability to innovate, compete and grow”.
The Competitiveness Compass builds upon three policy pillars and seven horizontal enablers:
Pillar 1: closing the innovation gap
Pillar 2: joint roadmap for decarbonisation and competitiveness
Pillar 3: reducing dependencies and increasing security
To support these pillars, the Commission will implement horizontal actions: simplification and creating more competitive business environment, developing stronger single market, financing competitiveness and a Savings and Investments Union and promoting skills and quality jobs.
Additionally, the document highlights that the new European Maritime Industrial Strategy (2025), will highlight the role the maritime industry plays in the EU economy. The Commission will also put forward a Sustainable Transport Investment Plan with additional measures to de-risk investments needed to swiftly ramp up the production and distribution of renewable and low-carbon fuels for shipping.
In addition, measures such as contracts for difference and a wider and easier use of ‘auction-as-a-service’ schemes to use the national EU ETS revenues under the EU ETS Innovation Fund are proposed. The use of the national ETS revenues has been one of the main points supported by ECSA over the last year.
The document highlights that the regulatory burden has become a brake on Europe’s competitiveness. The Commission commits to deliver targets for reducing reporting burden: at least 25% for all companies and at least 35% for SMEs. This will start next month with the first of a series of Simplification Omnibus packages. The first Omnibus is expected to cover a far-reaching simplification in the fields of sustainable finance reporting, sustainability due diligence and taxonomy.
There is a new initiative under the Competitiveness Compass, the New State Aid Framework (Q2 2025) which aims to support companies to switch to clean technologies. Although there is a focus on energy intensive industries such as steel, metals and chemicals, no additional details are provided about the New State Aid Framework and how the manufacturing of clean energy will be supported.
Other initiatives listed include the Clean Industrial Deal (Q1 2025), the Industrial Decarbonisation Accelerator Act (Q4 2025), the European Port Strategy (2025), the Carbon Border Adjustment Mechanism Review (2025) and Oceans Pact (Q2 2025).
Related Articles:
Attachment 2: ECSA C-14099 Commission publishes plan to enhance competitiveness of European industry – Competitiveness Compass
3. 16th sanctions package: Ban on Russian LNG unlikely until the EU secures alternatives
The EU will not attempt to fully ban Russian liquefied natural gas purchases in its latest sanctions package, two EU diplomats told POLITICO, defying pressure to outlaw imports of the supercooled fuel.
The European Commission is set to formally present its 16th sanctions package against Russia to EU capitals on Wednesday, 5 February 2025, according to the two diplomats, who were granted anonymity to speak freely.
However, in relation to the latest sanctions package, the European Commission did not suggest the implementation of a ban on Russian liquefied natural gas amid concerns from member states about first securing alternative supplies, including from the United States.
“First you have to have a deal because otherwise you will be left without gas from Russia and without the U.S.” one of the diplomats told Reuters.
Related Articles:
Reuters 29/01 - EU won't ban Russian LNG until it secures alternatives, diplomats say
Safety4Sea 31/01 - Ban on Russian LNG unlikely until the EU secures alternatives
Politico 29/01 - EU lets Russian LNG slip in new sanctions package
4. US TREASURY REPORT
No news reported for the week 25/01/2025 – 31/01/2025.
5. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 3: Worldwide Threat to Shipping (WTS) Report, for the period between 01/01/2025 – 29/01/2025
Nothing important to report from the House of Representative, the IMO and the ILO.