GCMD, Olympic Shipping sign decarbonisation deal

The Global Centre for Maritime Decarbonisation (GCMD) and Olympic Shipping and Management SA (OSM) have signed an impact partnership agreement, committing to a five-year collaboration to accelerate shipping decarbonisation across geographies.

"Onassis Foundation-controlled OSM is the first Greek ship owner and manager to come onboard GCMD as a centre-level partner," says a release from GCMD. "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 fuels and shipboard carbon capture and new pilots in the pipeline."

George Karageorgiou, President and CEO, Olympic Shipping and Management S.A.,says: “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.”

With 384 million DWT and 4,870 vessels, Greece accounts for about 17.6 percent of global shipping, the release said. "Within the EU, Greek shipowners own about 59 percent of the EU-controlled fleet. Greece ranks highest in the tanker market with a fleet value of $56.2 billion, owns the second most valuable LNG fleet worth $29.1 billion, and is dominant in bulker, tanker, LNG and LPG segments.

“We are very happy that Olympic Shipping and Management will join the Global Centre for Maritime Decarbonisation," says Antonis Papadimitriou, President, Onassis Foundation. "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."

Lynn Loo, CEO, Global Centre for Maritime Decarbonisation, adds: “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.”