15th March 2025 – 21st March 2025
LOCAL NEWS
1. CUS Members lunch with ICS new Secretary General, Mr. Thomas Kazakos
On Monday, 17 March 2025, a farewell lunch was held in Limassol, between a delegation from our Union and Mr. Thomas Kazakos, the newly appointed Secretary General of the International Chamber of Shipping (ICS). The event was organised as a cordial opportunity to extend our congratulations and foster further ties with Mr. Kazakos, as well as to discuss key issues facing the global shipping industry.
The Union delegation was led by our Vice Presidents, Mr. George Mouskas, Mr. Polys Hajioannou and Mr. Zacharias Zachariou and included our members, Ms. Marina Hajioannou and Mr. Vassilis Hajioannou, as well as the CEO of our Union, Mr. Michael Filippou.
The luncheon served as a warm and informal occasion to congratulate Mr. Kazakos on his appointment and to discuss the critical challenges and opportunities within the shipping sector. We expressed our sincere congratulations to Mr. Kazakos on his new role and conveyed CUS strong support as he prepares to officially assume his duties as ICS Secretary General on 1 June 2025.
During the discussion, our Union highlighted the importance of prioritizing the promotion of shipping and enhancing its competitiveness at both European and international levels. We stressed that this should be a primary focus for the ICS, given the pivotal role the shipping industry plays in global trade and economic growth.
We look forward to continued collaboration with Mr. Kazakos and the ICS, as we work together to address the evolving needs of the shipping sector and ensure its long-term goal.
Photos:
INTERNATIONAL NEWS
2. European Shipping Summit 2025
The European Shipping Summit 2025 took place on 19–20 March 2025, organized by the European Community Shipowners' Associations (ECSA), in collaboration with CLIA Europe, SEA Europe, and other maritime industry stakeholders, at the Royal Museums of Fine Arts of Belgium in Brussels.
At the Summit, European Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, and Director-General of DG MOVE, Magda Kopczyńska, delivered keynote addresses highlighting the EU’s strategic priorities. These included strengthening the maritime sector’s competitiveness, revitalizing shipbuilding, and harnessing decarbonization as an economic opportunity.
Cyprus’s Shipping Deputy Minister, Mrs. Marina Hadjimanolis, attended the Summit and participated as a speaker in the panel discussion titled “Developing Industrial Capacity: The Skills Challenge.” She emphasized the need to retrain and upgrade the skills of the maritime transport workforce, stressing that this can be achieved through collective and targeted initiatives at both the EU and global levels.
Our Union was represented by Mr. Nicolas Hadjioannou, who attended the conference and the Gala dinner. During the Gala dinner, Mr. Hadjioannou was joined at his table by Georgios Ioannidis and Christina Antoniou from the Permanent Representation of DMS in Brussels, as well as two Cypriot Members of the European Parliament, Michalis Hadjipantelas and Costas Mavrides.
Mr. Hadjioannou noted that the European Shipping Summit highlighted the recognition of shipping as a strategic asset by politicians and he emphasized the strong, positive rapport between them and the shipowners.
As part of the Summit, the Union of Greek Shipowners (UGS) organized an event titled “Shipping Anchors the EU’s Future,” which underscored the vital role of shipping in safeguarding Europe’s security and prosperity.
During the Summit, shipowners sought to convey to EU policymakers that, with the Hong Kong Convention coming into force, both shipowners and IMO Member States will face the complex challenge of navigating the fragmented legal landscape of the global ship recycling regulatory framework.
In the panel discussion that followed, various perspectives were presented on how to resolve this legal complexity. Susan Wingfield, Programme Management Officer at the United Nations Environment Programme, acknowledged the urgent need for clarity in the Basel Convention, suggesting a process that allows all stakeholders to express their concerns in an open forum.
Related Articles:
EC 20/03 - Commissioner Tzitzikostas' opening speech at the European Shipping Summit
InBusiness 20/03 - Στο European Shipping Summit στις Βρυξέλλες η Μαρίνα Χατζημανώλη
ELNAVI 20/03 - European Shipping Summit 2025
3. The Commission adopts two new reports on the implementation of EU ETS in maritime transport and the maritime Monitoring, Reporting and Verification review
On 18 March 2025, the European Commission released its first report on the implementation of the EU Emissions Trading System (ETS) extension to maritime transport, which has been in force since 1 January 2024. The report assesses the early impacts of the policy that now covers approximately 12,000 large ships, aiming to ensure shipping contributes fairly to the EU’s climate objectives.
Key Findings: No Evidence of Market Distortion or Evasion
The report focuses on potential evasion and circumvention risks, analyzing maritime traffic data and market behavior. Importantly, it finds no evidence of:
- A shift in container transhipment activities to non-EU ports,
- Shipping companies adding stops at non-EU ports to bypass regulation,
- A modal shift to road transport or increased use of smaller ships,
- Reduced shipping services to EU islands or outermost regions.
While a few isolated cases of potential circumvention were identified, no significant market changes were attributed to the ETS extension. The report acknowledges data limitations and external factors like the Red Sea crisis, noting the need for cautious interpretation. The Commission will continue monitoring developments in collaboration with Member States and stakeholders.
Assessing Inclusion of Smaller Ships in GHG Monitoring
Alongside the ETS report, the Commission also released a second report examining whether to include smaller vessels (400–5,000 gross tonnage) under the Monitoring, Reporting and Verification (MRV) Regulation for maritime greenhouse gas emissions.
Key findings:
- Over 5,300 smaller ships, emitting about 11 million tonnes of CO₂ annually, are currently not covered.
- Inclusion would expand regulated emissions by 9% and regulated vessels by 42%.
- However, administrative costs of MRV for smaller ships could outweigh the emissions reduction benefits, unless linked to other policies like EU ETS or FuelEU.
- A cost-benefit assessment will be revisited during the 2026 review of the EU ETS Directive.
Both reports were produced with input from the European Maritime Safety Agency (EMSA), Commission services, and stakeholder consultations. They follow the 2024 Commission report on CO₂ Emissions from Maritime Transport, which analyzed emissions data and energy efficiency trends over time.
As it is stated, the Commission’s monitoring efforts aim to ensure effective implementation of climate measures in maritime transport, while evaluating the feasibility and impact of expanding regulatory scope.
Related Articles:
Safety4Sea 20/03 - EU: Evasive behaviours can undermine the integrity of the EU ETS
4. BIMCO Responds to Proposed U.S. Trade Action and Advises Members on Potential Implications
On 17 March 2025, BIMCO submitted formal comments to the Office of the United States Trade Representative (USTR) in response to its request for comments regarding proposed actions under the Section 301 Investigation of China’s Targeting of the Maritime, Logistics and Shipbuilding Sectors for Dominance. The submission highlights potential adverse impacts on global shipping and U.S. trade and offers guidance to BIMCO members on managing the possible implications.
In its letter to Ambassador Jamieson Greer, BIMCO (representing 2,100 members and 63% of the global merchant fleet) raised concerns that the proposed port fees on Chinese-linked vessels and operators would:
- Significantly increase shipping costs to and from the U.S.;
- Result in costs being passed on to U.S. importers, exporters, and consumers;
- Potentially reach USD 100 million per port call for large vessels, discouraging port calls, disrupting trade, and causing port congestion and job losses.
BIMCO also noted that requiring 20% of U.S. exports to be carried on U.S.-built, U.S.-flagged vessels is unfeasible due to a lack of suitable tonnage, particularly in sectors such as LNG and chemical exports. This could inflate export costs and damage the competitiveness of U.S. goods, especially low-value commodities like grain and soy. BIMCO cautioned that the proposed measures may hinder trade efficiency, raise costs, and have an uncertain impact on reducing China’s maritime influence.
Although the U.S. trade actions are not yet finalized, BIMCO has received a high volume of inquiries from members seeking clarity on how the proposals may affect existing and future charter party contracts.
Below is an outline of key considerations and recommendations according to BIMCO:
For Existing Contracts:
- Amendments may not be possible at this stage. Members should carefully review contract terms, especially regarding:
- Allocation of fees, taxes, and tariffs;
- Presence of hardship or force majeure clauses, and whether they might apply.
- Typically, port fees are paid by:
- Charterers under time charters;
- Owners under voyage charters or COAs, unless otherwise agreed.
- As the exact nature of any new fees remains unclear, it is essential to wait for further details before determining who bears the cost under each contract.
For New Contracts:
- Parties should proactively consider the potential impact of the proposed U.S. measures during contract negotiations, including:
- Effects on freight rates;
- Inclusion of clear provisions regarding fees, tariffs, and taxes.
- BIMCO will monitor developments closely and if necessary, draft standard clauses through its Documentary Committee to address emerging risks.
BIMCO’s website will be regularly updated.
Related Articles:
BIMCO 18/03 - Advice for BIMCO members in relation to proposed US trade action
BIMCO 17/03 - Letter to US Trade Representative
5. IMO to develop global strategy for maritime digitalization
Between 10 – 14 March 2025, the International Maritime Organization’s (IMO) Facilitation Committee (FAL) met for its 49th session in London, where it outlined a roadmap for the IMO Strategy on Maritime Digitalization, to be adopted by the IMO Assembly by the end of 2027.
The strategy aims to promote a fully interconnected, harmonized and automated maritime sector, utilizing emerging technologies to enhance efficiency, safety and sustainability. To develop this, a Correspondence Group was established to define the strategy’s scope, objectives, and implementation framework, and to identify relevant technologies and standards. The Group will report to FAL 50 in 2026.
The Marine Environment Protection Committee (MEPC) and Maritime Safety Committee (MSC) were invited to encourage participation in the Group to ensure broad stakeholder input.
IMO Secretary-General Arsenio Dominguez highlighted the role of technologies such as AI and autonomous navigation, while noting challenges like cybersecurity and the digital divide. He stated, “the IMO Maritime Digitalization Strategy is a game-changing effort to make smooth, seamless, smart shipping a reality... We must work together to ensure the strategy serves all”.
The strategy builds on past progress, including the mandatory Maritime Single Window (MSW) regulations. FAL 49 also approved updates to the IMO Compendium, enhancements to MSW Guidelines, launched work on cybersecurity for MSWs, and endorsed joint guidelines on electronic certificates.
Member State input remains key to finalizing the strategy, with further updates expected in due course.
Related Articles:
IMO 18/03 - IMO to develop global strategy for maritime digitalization
SeaNews 18/03 - IMO to develop global strategy for maritime digitalization
WorldCargo 20/03 - IMO develops strategy for maritime digitalisation
6. US TREASURY REPORT
The US Treasury Report for all actions reported is hereby attached.
Related Article:
Attachment 1:US Treasury Report for week 15/03/2025 – 21/03/2025
7. PIRACY REPORT
The Piracy Report for all actions reported is hereby attached.
Related Article:
Attachment 2:Worldwide Threat to Shipping (WTS) Report, for the period between 19/02/2025 – 19/03/2025
Nothing important to report from the ILO and the House of Representatives.