LMM Vision Issue 20 - Q1 2025

QUARTERLY EDITION | ISSUE 20 | Q1 2025 LATSCO MARINE MANAGEMENT INC. 9 772653 951008 20 ISSN 2653-9519 Seafarers’ interview Mediterranean ECA and new challenges Blackout Incidents, awareness and prevention Focus to newbuilding projects and acquisition of second-hand vessels

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3 LMM V I S I O N ISSUE 20 | Q1 2025 Dear colleagues, First quarter of the year has already come to an end, and we are glad to share with you the Company’s milestones and achievements of the year. Starting from early January, our Strong and Continuous presence to many Forums, Committees, Conferences and University events continued during Q1 2025, enhancing Company’s extravert culture and gaining knowledge on various technological advancements. We are glad that Company’s personnel with expertise in specific fields are eager to participate in discussion forums sharing their knowledge and bringing new views in our Company! Leading or participating as per Company’s priorities to Social Responsibility and Accountability, we are more than happy for all the initiatives such as donations to academies, Blood donations, cleaning of the coasts, running for good purpose. It’s worth to be mentioned a significant milestone for Marla Dry Bulk Shipmanagement INC that took delivery of Newbuilding MARLA CHAMPION from Oshima, Japan. The ceremony took place at Innoshima yard. In addition, Marla trading Inc. took delivery of newly built ship, MTR CHESSMASTER, at Imabari Yard. We are proud for initiatives taken with focus on innovation and efficiency including physical workshops under our cooperation agreement with MAN Energy Solution at our Company’s premises. Q1 2025 Management Review Meeting took place at Company’s premises with the participation of all Company’s Personnel. In conclusion, key highlights of MRM: ●● We need to stick on Company’s procedures and definitions and our analysis to be based on that. ●● Extra focus should be paid to new projects including newbuilding and secondhand vessels, as potential candidates, to be acquired the next months ●● Enhance open communication and access to information amongst everyone in the organization harmonizing good pracMessage from COO In this issue 04 LMM at a glance 05 Company News 09 Seafarers’ Interview 12 Incident Report 13 Concentrated Campaign on Blackout Incidents 16 Intervention at Sea: Empowering Crew for a Safer Shipping Industry 16 Cybersecurity Alert: Maritime Industry Under Targeted Cyber Attacks 18 Crossword tices among departments including methodology analysis in the way that the results presented (same graphs etc.) ●● Develop new procedures related to proper use of AI ●● ETS allowances and FuelEU implementation ●● Number of Cargo Attendances to be increased from Port Captains ●● Safety Culture results to be analyzed in the next quarter ●● Crew availability should be increased in regards to all new coming projects ●● Further analysis on common identified root causes resulting into NM ●● Hong- Kong Convention enters into force on 26th June 2025 and new certificates to be issued ●● Reduce of plastics onboard through the adoption of new practices aim to learn from new industries ●● Avoid Complacency and adopt a Chronic Unease approach ●● GAP analysis on Security procedures due to changes with new BMP ●● Enrich cyber security procedures with new procedure in regards to installation of CCTV cameras Finally, for next quarter we are anticipating for TMSA review Audit from Exxon Mobil. In addition, as per Company’s Annual Internal Audit and Attendance plan manning agents’ visits and Internal Audits have already been planned for next period. While in parallel, we are preparing for 2x second hand vessel MR deliveries as well as for the first 87k LPG and gas trials planned to be delivered in mid July. Furthermore, we have entered into final negotiations for the construction of a series of feeder container. We have a heavy summer ahead with multiple and diverse activities that demand our close focus and attention, and I am certain that we will successfully meet all those! I would like to thank all Company’s personnel for their hard work and commitment. Enjoy reading! EDITORIAL Antonis Georgantzis Chief Operating Officer

4 LMM V I S I O N ISSUE 20 | Q1 2025 LMM AT A GLANCE Key Performance Indicators 100 90 80 70 60 50 40 Number of External Inspections 2024 2025 2023 PSC SIRE CDI 30 20 10 0 36 71 19 5 15 2 57 80 19 30 25 20 15 10 5 0 Fleet size 2015 - 2025 | New Building projects Existing Delivered Sold -5 -10 2023 2025 2015 2016 2017 2018 26 13 17 23 25 -2 3 6 2 2 0.5 0.45 0.4 0.35 0.3 0.25 0.2 LTIF / TRCF LTIF TRCF 0.15 0.1 0.05 0 4 5 Number of Observations per SIRE Inspections 2024 2025 2023 3 2 1 0 5.44 3.47 1.81 2020 2021 2 2 27 2019 27 2022 4 28 2 29 -3 -2 -1 6 Feb24-Jan25 Mar24-Feb25 Apr24-Mar25 Oct23-Sept24 Nov23-Oct24 Dec23-Nov24 Jan24-Dec24 30 2024 -3 29

5 LMM V I S I O N ISSUE 20 | Q1 2025 COMPANY NEWS New building: Welcoming Marla Champion We are proud to announce the delivery of Marla Champion, a modern bulk carrier with a capacity of 64,000 tons, flying the flag of the Marshall Islands. The ceremony took place at Innoshima yard. These latest additions reflect LATSCO Shipping’s ongoing commitment to growth and excellence in the maritime industry. At the ceremony, MARLA was proudly represented by George Margaronis, our CEO, John Panorios, our Deputy COO, Christos Trintafyllidis, our CFO, Sergios Arniakos, Risk & Sustainability Manager, Lefteris Vogiatzakis, Commercial Manager, Vasilis Xanthis, Head of Dry Cargo, Kyriakos Spoulos, Legal Counsel, Panagiotis Fyssas, Technical Superintendent. New building: Welcoming Chessmaster! Marla Trading Inc. took delivery of the newly built ship, MTR CHESSMASTER, at Imabari Yard last month. The 63,000 DWT newbuilding unit will deliver from Japanese owners Shoei Kisen to Marla Trading for a minimum period of 3 years. Members of Marla Trading Inc. and Latsco Shipping who attended the naming ceremony were George Margaronis, CEO, Christos Triantafillidis, CFO, Christos Tsoukalas, Senior Executive, Lefteris Vogiatzakis, Commercial Manager, Sergios Arniakos, Risk & Sustainability Manager, Vassilis Xanthis, Head of Dry Cargo, Stavros Papachristos, Senior Freight Trader, Mrs. Jenny Michail, wife of Stavros Papachristos and Godmother of the vessel, and Steve Emmott, Senior Consultant. She has just been chartered for her maiden voyage to Norden Shipping for a trip via the West Coast of the U.S. to the Philippines with bulk grains. We wish her safe and calm seas!”

6 LMM V I S I O N ISSUE 20 | Q1 2025 COMPANY NEWS Strengthening Collaboration for Innovation & Efficiency On February 18th, 2025, we had the great pleasure of hosting the first physical workshop under our cooperation agreement with MAN Energy Solution at Latsco premises. This engaging session provided a valuable platform for exchanging expertise, identifying key areas for even further enhancement, and exploring innovative ideas for future projects. Elected to INTERTANKO’s Vetting Committee We are proud to announce that Capt. Alexandros Arampatzoglou was elected as a full member of the INTERTANKO Vetting Committee during March. We are truly pleased that our company maintains a strong presence in multiple industry committees and organizations, reinforcing our role and voice in shaping maritime standards and best practices. Latsco Shipping at “Monopatia Stadiodromias” 2025 The “Monopatia Stadiodromias” event, organized by Panorama, was held online once again on February 21-22, marking its return after nearly three years. This year, our company was proudly represented by Petros Vikos, HSQE Manager, and Evangelos Andrikopoulos, Operations Manager.The event, designed for both university and high school students exploring career options, featured panels for 15+popular academic fields. Specialized UG25 + Governor Training for Latsco Superintendents In February, Antonis Georgopoulos, Technical Supt., Aris Pappas, Technical Supt., Spyros Kaouras, Electrical Supt., Evangelos Panou, Technical Supt., and Angelos Telonis, Electrical Supt., participated in a specialized UG25+ Governor configuration training session hosted at MAS SA’s premises. Led by expert trainers from MAS SA, the session provided handson experience with Woodward Inc.’s Service Tool, enabling our team to enhance their technical expertise. Running for a Cause – Supporting ELEPAP’s Brave Children On March 9, our colleagues proudly joined the “Cool Runners” from ELEPAP, running in the Athens Half Marathon to support the association’s Brave Children. Through their participation and effort, they sent a powerful message of solidarity and support, raising awareness for children with disabilities across the country.

7 LMM V I S I O N ISSUE 20 | Q1 2025 COMPANY NEWS Bridging Industry and Academia As part of our ongoing commitment to supporting the next generation of professionals, Antonis Georgantzis, our COO, recently delivered a presentation on the organization and management of a shipping company to the students of Naval Architecture at NTUA. Antonis guided students through the structure, departments, and day-to-day operations of a shipping company. Connecting with future Talent at UNIPI On March 18, our HR Business Partner, Giannis Moschatos, and HR Generalist, Niki Kostiani, visited the University of Piraeus (UNIPI) to present our internship program and engage with students eager to explore opportunities in the maritime industry. Giving the gift of life – Blood Donation Initiative Believing deeply in the importance of fostering a culture of blood donation, we have planned three donation initiatives for 2025, just as we did last year. A heartfelt thank you to our colleagues who participated and demonstrated solidarity and generosity: Atmatzidi Stefania, Vourlakis Evangelos, Dardamanis Anastasios, Demenaga Aspasia Thanou Ria, Katheklakis Michail, Kornezou Marianna, Kostopoulou Nektaria, Malandrakis Apostolos, Mitsopoulos Marios, Papachrysostomou Achilleas, Stavropoulou Andriana, Triantafyllou Christos, Tsirikos Panagiotis, Tsioli Aliki. Sharing Expertise at the GREEN4SEA Forum On March 12, Dimitris Mytilinis, our Senior Performance Engineer, represented our company as a presenter at the GREEN4SEA Forum, held at the Lighthouse of the Stavros Niarchos Foundation Cultural Center. His presentation focused on the FuelEU Maritime Regulation and its role in reducing greenhouse gas emissions in shipping.

8 LMM V I S I O N ISSUE 20 | Q1 2025 COMPANY NEWS 1 0 PSC DEFICIENCIES 0 0 ACCIDENTS CATEGORY A,B,C TOTAL RECORDABLE CASES 0 0 VETTING OBSERVATIONS 0 UNLAWFUL ACTS 0 PSC DETENTIONS Q12025 Safety Scorecard LTIF COMPLAINTS ENERGY MAJOR REJECTIONS 0 We would like to introduce you our new team members who joined LMM in Q4 2024: ●● New hires: Gkioni Katerina (PMS Assistant), Maria Lagou (HR Business Partner), George Berdesis (Fixed term-Crew Assistant), Aristotelis Vaidomarkakis (Fixed Term-PMS Assistant) ●● New promotions: Evangelos Andrikopoulos (Operations Manager), Niki Kostiani (HR Generalist), Athina Komporozou (HSQE Officer) As a result, our current headcount for LMM is 129 employees, with 29 Managers, 63 Officers/Superintendents /Port Captains and 37 Assistants. Concerning our sea staff during this quarter: ●● No. of new crew members joined Company’s Vessels for Q1 2025: Nine (9) crew members ●● No. of Promotions for Q1 2025: Total eleven (14) promotions. • From 2/O to C/O: 3 • From D/C to 2/O: 3 • From 2/E to C/E: 1 • From E/C to 3/E:2 • From WPR to 4/E:1 • From ASC to CCK:1 • From OS to AB: 3 Promotions & New hires

9 LMM V I S I O N ISSUE 20 | Q1 2025 SEAFARERS’ INTERVIEW INTERVIEW WITH SEAFARERS MEDITERRANEAN ECA AND NEW CHALLENGES Considering that on 1st May the Mediterranean Sea became an Emission Control Area (ECA) for SOx emissions, what challenges do you face prior / during entry and exit Mediterranean ECA (SOx & NOx)? DL: As Master, one of the challenges that I face is the availability of sufficient quantity of compliant fuel, if the bunkers are not to the max capacity prior her entry, as destination or stay within ECA might be prolonged by last minute instructions of charterers. On that case, vessel may need additional bunkers, where usually several days intervene between order and delivery. Above challenge is subject to vessels that are not equipped with EGCS at all, or their systems can’t scrub down the emissions below 0.1%. Another challenge is following the proper and correct procedures for change over to and from compliant fuel, without any deviation or equipment failure. JP: When navigating the Mediterranean Emission Control Area (ECA), we may face several challenges during entry and exit, one of them is the fuel availability (LSMGO for this type of vessel) it has to be ensured that prior entry, the vessel have sufficient amount in order to transit the whole length of the Mediterranean Sea as well as enough storage capacity of the low sulfur fuel, taking into consideration time of vessel’s stay at port. In this case a proper planning should be utilized in order to maintain the vessel’s compliance while inside ECA’s limits, for vessels equipped with scrubbers need to ensure they are function correctly and properly maintained in order to meet the emission standards. During transit, proper monitoring of fuel consumptions and machineries are vital, also checking the performance of scrubber to ensure with ECA regulations. During exit, fuel switching management procedures should be carried out carefully, scrubbers need to be operated and monitored correctly to enIn this issue, we have the pleasure to host Capt. D. Ladas (DL) of YIANNIS LATSIS, Capt. N. Delias (ND) of BEAUFORT, Capt. J. Prudente (JP) and C/E G. Spyropoulos (GS) of HELLAS SPARTA, Capt. B. Seman (BS) and C/E P. Gisdakis (PG) of HELLAS NEMESIS and Capt. P. Foteinopoulos (PF) of HELLAS DYNASTY. All of the interviewers are well experienced and we are glad they share with us their knowledge and opinion on the new challenges of the Mediterranean ECA.

10 LMM V I S I O N ISSUE 20 | Q1 2025 SEAFARERS’ INTERVIEW sure continued compliance with emission standards. Lastly, the other challenge will be the accurate record-keeping and documentation, vessel should maintain accurate records and submit reports as required by the regulatory authorities and are very crucial in case there will be inspections or audits. BS: As Captain, my role is to ensure that we switch to lowSulphur fuel well in advance of the ECA boundary, following our approved change-over calculations and procedures. The company or charterer arranges bunkering, but I must review the bunker delivery notes and certificates with the Chief Engineer, also ensure proper monitoring of bunker tank’s segregation and filter condition. Change over for ECA areas requires speed reduction which affects our ETA to port of destination. PG: Prior to entry, the challenges are fuel change over planning and switching from HSFO to LSFO < 0.1 % S, or using exhaust gas cleaning systems (scrubbers), which requires a detailed change over procedure to avoid contamination or fuel compatibility issues. Also, fuel availability and quality, ensuring availability of complaint fuel at the last bunkering port outside the ECA, while there’s risk receiving off spec fuel , which could affect engine performance or compliance. Moreover, updating the fuel oil changeover log or BDN as per MARPOL annex VI requirements and pre-entry documentation checks to ensure all emission related records are up to date, are crucial as well. Not to mention, crew training and awareness, to ensure crew understands the operational procedures for entering ECA. During entry inside the Mediterranean ECA, the challenges differ, from monitoring and maintaining engines on LSFO to monitoring emissions, while there’s a risk of incomplete combustion engine knocking or fuel system issues when using LSFO. Real time monitoring of NOx and SOx and logging operational data to prove compliance to port state control if requested, are also some of the challenges. Upon exit from the Mediterranean ECA, the switchover back to HLSFO should be carefully planned, avoiding contamination or incompatibility with LSFO residue, ensuring the fuel system is purge and cleaned to prevent operational issues when changing back to HLSFO. Of course, records should be properly kept to show duration of operation on compliant fuel. PF: The implementation of the ECA in the Mediterranean presents several challenges before, during, and after entry into the area: ●● Fuel Changeover: Vessels must switch from high-sulphur fuel oil (HSFO) to low-sulphur alternatives (such as MGO or ULSFO) before entering the ECA. This process requires careful planning to avoid operational disruptions and engine performance issues due to fuel incompatibility. ●● Compliance Monitoring: Continuous monitoring and logging of fuel consumption, fuel changeover time, and emissions levels are required. This increases administrative burden and demands strict attention from the crew. ●● Technical Readiness: Engines and auxiliary systems must be capable of operating efficiently with low-sulphur fuels. Improper handling can lead to fuel pump and injector failures. ●● SCR Systems and NOx Control: For NOx compliance, vessels may need Selective Catalytic Reduction (SCR) systems or other emissions control technologies, particularly under Tier III requirements for newer ships. ●● Training and Awareness: The crew must be welltrained and aware of ECA boundaries and regulations to ensure timely compliance. Do you think ECA have contributed to the reduction of emissions? If yes, how? DL: It is commonly agreed that ECAs have contributed to the reduction of ship’s emissions, especially SOx and NOx. Studies have shown that emissions have been reduced on Baltic and US ECAs by 35%-40% during the past years. On the other hand, some vessels may choose longer routes in order to avoid ECA waters and use of less expensive fuels. So, actually, on such cases, the emissions are just shifted to other areas.

11 LMM V I S I O N ISSUE 20 | Q1 2025 SEAFARERS’ INTERVIEW GS: Yes of course, the emission control areas are created to reduce the emissions during shipping, leading to cleaner air and improved the environmental proception. The reduction of emissions is achieved through the reduction of SOx & NOx with the use of low sulfur fuels (MGO, LNG, LPG etc.). Also promoting cleaner technologies like Dual Fuel Engines, Scrubber and biofuels. BS: Yes, the adoption of the proposed Med SOX ECA will result in significant reduction in ambient levels of air pollution in the Mediterranean Sea and its coastal States which means substantial benefit to human health and environment. This will also contribute to the improvement of environmental sustainability and protect global ecosystem now and in the future. PF: Yes, ECAs have significantly contributed to the reduction of air pollutant emissions from ships. Their impact can be observed in the following ways: ●● Reduction in SOx Emissions: The mandatory use of low-sulphur fuels has drastically reduced sulphur dioxide emissions, which are a major contributor to acid rain and respiratory issues in humans. ●● Improved Air Quality in Coastal Areas: Many port cities and coastal zones have reported measurable improvements in air quality following the implementation of ECAs. ●● Encouragement of Cleaner Technologies: The ECA framework incentivizes investment in emissions-reducing technologies such as scrubbers, LNG propulsion, and advanced engine designs. ●● Global Alignment: ECAs serve as a model for stricter environmental regulations worldwide, reinforcing the IMO’s goal of reducing maritime emissions. What challenges would you identify on a tanker vessel that would consume alternate fuel (e.g. LNG, biofuels)? ND: I strongly believe alternative fuels for vessels are hot topic right now. Tanker vessels using alternate fuels like LNG or Biofuels surely face several challenges. These challenges emphasize the complexity of transitioning to alternate fuels in the maritime industry. In my point of view, a major challenge that may arise is regarding technical issues. Alternate fuels require specific storage and handling systems, which may demand modifications to tanker infrastructure. This includes specialized storage, additional handling requirements and tanker engines compatibility which may need to be modified or adapted to operate efficiently with LNG or biofuels. Another challenge that may arise is the training and crew expertise. Specialized training and procedures are needed for crew members to handle this new trend, modified or adapted to operate efficiently with LNG or biofuels. GS: The challenges a vessel consuming alternate fuel are the fuel handling and storage, fuel properties, availability, fuel cost, engine and infrastructure compatibility, equipment cost. Also, all the crew members need to be trained on the safe operation and maintenance of engine using alternative fuels. PG: Using alternate fuel LNG or Biofuels on tanker vessel present several technical, operational, economic, and regulatory challenges. From a technical standpoint for LNG, there are fuel storage and handling, boil of gas management, engine compatibility and cryogenic material fatigue. For Biofuels, fuel variability, storage stability and material compatibility. The operational challenges are crew training, fuel availability, logistics and fuel segregation. Economically, the biofuel cost is a challenge itself. Lastly, complying with IMO and local regulations, Class approval, fuel specification uncertainty, Methane slip for LNG, biofuel sustainability and fire/explosion risk are also some of the issues a tanker vessel consuming alternate fuel would face.

12 LMM V I S I O N ISSUE 20 | Q1 2025 Corrective / Preventive Actions 1. Circulated among fleet vessels, in order to be discussed during next SCM, with the aim to increase awareness to all involved personnel on identified root causes and analyzing, the established preventive actions, through a team -engaged and open- ended questions discussions on board. 2. Overhauling and cleaning of stuck pilot spool. Existing maintenance instructions in PMS enriched with cleaning and inspection of the L.O. pump and pilot spool on preventive basis with 12-months interval on fleet vessels equipped with specific Maker and type, submission of new PMS job through appropriate Management of Change. 3. The subject incident brought to the attention of Builder / Maker with the aim of investigating any potential improvement, due to repeated failures through the years on fleet vessels. 4. Subject case will be presented and analysed during in-house seminar amongst all participating seafarers. Team Engagement & discussion topics ●● Describe what can cause shutdown alarm on a running Diesel Generator ●● Why is it important to have LO pump in proper operational condition when Diesel Generator is running? ●● What will you do in case of blackout? Incident Description On the 29th of January 2025, while vessel was anchored, with one Diesel Generator connected to the grid, shutdown alarm on running Diesel Generator No.3 was activated and instant blackout occurred. Stand-by Diesel Generator No.2 started automatically after the PMS identified the blackout event and connected to the grid to restore power on the network. Further investigation and troubleshooting revealed that Safety pressure switch for LO pressure experienced inconsistent activation of setpoint alarm and shutdown of DG. Potential Outcome ●● Injury / Pollution / Property damage ●● Permanent loss of electrical power output (power supply not being stored) ●● Inability to supply power to vessel’s consumer (as per their energy/load demands) ●● Delay of vessel’s schedule / loss of hire Root Causes I. Substandard Actions ●● Activation of shutdown alarm (other) ●● Pressure drop of lub oil (using defective equipment) II. Substandard Condition ●● Low LO pressure (other) ●● Stuck condition of pilot spool (defective equipment) IΙΙ. Job Factors ●● Excessive wear & tear ●● Improper/ inadequate preventive maintenance ●● Inadequate maintenance instructions Lessons learned Low lub oil pressure in diesel generator may activate its shutdown. INCIDENT REPORT Blackout due to trip of Diesel Generator no.3 LO Pump pilot spool

13 LMM V I S I O N ISSUE 20 | Q1 2025 CAMPAIGN Concentrated Campaign on Blackout incidents This report provides an evaluation of the Concentrated Campaign on “Blackout incidents, awareness and prevention” which was conducted from 13th February 2025 to 30th April 2025. The campaign aims at raising awareness of Blackout events on fleet vessels. We have seen a particular increase in specific equipment failures and there is a need to focus on Crew Response with the aim of increasing Safety awareness for Blackout prevention and Blackout recovery. Analysis The campaign included a questionnaire consisting of ten (10) multiple choice questions, which C/E, 2nd Engineer, 3rd Engineer, 4th Engineer and ETO onboard were required to complete. The HSQE Department has collected all responses, and metrics have been generated based on crew participation rates. Correct answers were displayed automatically to each participant upon completion of the questionnaire through Microsoft Forms. It is important to mention that this Campaign has some additional actions such as perform an actual test of Safety Shutdown Sensor LO inlet pressure switch activation that will trigger Auxiliary Engine shutdown and if the safety LO inlet pressure switch is not applicable for your vessel, pressure transmitter for Safety shutdown to be tested. Also, an action for verification that Dead Ship Recovery procedure and Blackout restoration procedure are posted in Main Switchboard has been added. Q1: Do you understand the alarm name tag description of an occurring alarm on onboard Alarm Monitoring System? Provide the percentage of your understanding in onboard Alarm Monitoring System’s alarms title. Q2: Are you able to identify the critical alarm that led to the malfunction when multiple alarms occur on the Alarm Monitoring System during an event? When a crucial event occurs (blackout, slowdown, shutdown of equipment), it is quite common that multiple alarms will occur at that time. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% - No understanding 100% - All alarms clear understanding 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% - Very difficult to identify 100% - Very easy to identify

14 LMM V I S I O N ISSUE 20 | Q1 2025 CAMPAIGN Q3: Alarms prioritization. How useful do you consider a feature where alarms prioritization exists and an alarm with high priority requiring immediate attention (human life in danger) remains at the top of the alarm page even if acknowledged, as Emergency Alarm. 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% - Useless 100% - Very useful Q3.a: Give us an example where the above would be useful… Q4: Are you familiar with the procedure and necessary actions for Dead Ship Recovery? 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0% - Not familiar at all 100% - Very familiar, able to demonstrate the needed actions Q5: Which action could potentially reduce the blackout incidents on our fleet vessels based on your experience and faced events. ●● Improve the reliability of shutdown devices and Diesel Generator components. ●● Invest in crew training for effective Engine Rounds and equipment inspections. ●● Improve the crew knowledge of activated alarms and Alarm Monitoring System. ●● Enhance Planned Maintenance System jobs related to Diesel Generators. ●● Q5.a: Other… Write your suggestion… Q6: During a blackout event, which equipment is prioritized for restoring its power supply? ●● Galley and Laundry equipment. ●● Engine Room Alarm Monitoring System. ●● Navigation Equipment. ●● Steering Gear. ●● Ballast Water Treatment System. Q7: During a blackout event, what is the role and purpose of Emergency Diesel Generator? ●● Start the Main Engine and increase speed. ●● Provide power to critical and essential equipment and systems. ●● Improve the efficiency and consumption of Fuel. ●● Charge the General Use and GMDSS system backup batteries. Q8: How often is the Emergency Diesel Generator load test performed based on Company’s procedures? ●● Yearly. ●● Every 3 months. ●● Monthly. ●● Weekly. Q9: What is the role of GMDSS radio batteries in the event of main and emergency power sources failure? ●● Provide power supply to Radars and ECDIS. ●● Supply uninterruptable power to Navigation and Communication Equipment. ●● To be used as a secondary starting method of Emergency Diesel Generator. ●● Provide power to GMDSS equipment. Q10. What are the primary and secondary starting arrangements of Emergency Diesel Generator of your vessel? ●● Automatic sequence of timer relays. ●● Spring or Hydraulic starter. ●● Main Switchboard and Emergency Switchboard power source. ●● Electric Battery No.1 and Battery No.2.

15 LMM V I S I O N ISSUE 20 | Q1 2025 CAMPAIGN relevant alarms activation. Moreover, specifically for D/G LO inlet pressure shutdown device, an upgrade has been decided during planned preventive replacement to meet Maker suggested type of installed component. 2. Verify that Dead Ship Recovery procedure and Blackout restoration procedure are posted in Main Switchboard. Actions taken: All vessels replied that procedures are properly posted and are readily available, which was confirmed through photos. 3. A questionnaire accompanies a subject letter to be filled by Chief Engineer, 2nd Engineer, 3rd Engineer, 4th Engineer and ETO, as instructed and returned to the office until 07 MARCH 2025, for further review evaluation. Actions taken: The results of the questionnaire are examined in this evaluation report. Based on the above, the following actions are established: ●● Inclusion in In-House Training Agenda: The subject evaluation will be added to the agenda of the next in-house training session. The goal is to emphasize the importance of these aspects and raise awareness among all personnel involved. ●● Circulation of Evaluation and Questionnaire: The Evaluation of Campaign, along with the questionnaire with correct answers, will be circulated across all fleet vessels. Instructions will be given to include this topic in the discussions during the next scheduled Safety Committee Meeting onboard, with the aim to promote and enhance safety awareness onboard and fostering the Safety culture towards the proper implementation of Company’s procedures. ●● Overall Awareness and Understanding: Reinforce onboard familiarization and training for Dead Ship Recovery procedures, familiarity to be enhanced through training, onboard safety meetings, further explanation of procedures during in-house or briefing. One more item is to evaluate the option of posting quick-reference sheets at the MSB is also advisable. ●● Alarm Prioritization: Investigate further the alarm prioritization feature with HYUNDAI ACONIS + KONGBSERG since it is considered a useful tool. ●● Crew-Driven Insights into Root Causes: Focus PMS review for enhancements on DG-related protection circuits, sensors, and shutdown devices. Incorporate the campaign findings in a Safety Alert and push these insights through both in-house training. ●● Knowledge-Based Multiple-Choice Results: Issue a targeted Safety Alert explaining the prioritization logic (e.g., emergency lighting, steering gear, fire detection, emergency bilge pumps) using simple graphics. Key takeaways Questions related to awareness and understanding level (Questions 1-5) ●● Overall Awareness and Understanding: The crew shows a generally good understanding of alarm systems, with 74% and 66% scoring highest in Questions 1 and 2 regarding alarm identification and interpretation. However, Question 4 (Dead Ship Recovery procedures) had the lowest score among awareness-related questions. This indicates a clear gap in confidence or familiarity, which could hinder response during real blackout scenarios. ●● Alarm Prioritization (Question 3a): Question 3a, High perceived usefulness (80% score) of a prioritized alarm interface was reported. Crew feedback (Fire & Gas alarms, Dead Man alarm, DG/ME shutdowns) shows operational interest in enhanced alarm management. ●● Crew-Driven Insights into Root Causes: From Question 5 and 5a, the most valued suggestions for reducing blackout events were: • Strengthening PMS related to diesel generator components. • Investing in crew training on engine rounds and parameter monitoring. • The feedback supports a balanced approach—technical and procedural—with multiple respondents underlining preventive maintenance and crew awareness as key contributors. Questions multiple choices for crew knowledge (Questions 6-10) ●● Knowledge-Based Multiple-Choice Results: Question 6, which required identifying equipment prioritized for power restoration post-blackout, had the lowest accuracy. The format (requiring two correct options) might have affected scores, but the content indicates a real knowledge gap. Conclusions The following actions were included: 1. Chief Engineer and responsible Officer(s) shall perform an actual test of Safety Shutdown Sensor LO inlet pressure switch activation that will trigger Auxiliary Engine shutdown at first convenience and your safety for each Generator, while running idle. If the safety LO inlet pressure switch is not applicable for your vessel, pressure transmitter for Safety shutdown to be tested. Actions taken: Tests conducted with satisfactory results on all vessels without findings. Fine tuning and adjustment for correct response was performed without any notable deviation. The verification process included actual testing of device activation when actual pressure is applied at the desired limit, actual shutdown of D/G and

16 LMM V I S I O N ISSUE 20 | Q1 2025 ARTICLE The principle of Intervention is crucial for all seafarers, as it establishes a collective responsibility for safety. Intervention on board includes the promotion of Stop Work Authority, which empowers all crew members, to halt any operation if they identify a safety risk. This is supported by the structured use of Toolbox Talk Manuals (TTM), ensuring that hazards are clearly understood and discussed before any job begins. These tools allow for swift intervention, reinforce crew well-being, and help mitigate potential hazards early, fostering a proactive safety mindset. Our Company has adopted a series of practical tools and techniques to support this approach: Stop Work Authority (Be SARP cards), Toolbox Talk Manuals, regular Safety Observations through the “Safety Inspector of the Week” program, and dedicated time in monthly Safety Committee Meetings to report and review unsafe acts or conditions. These elements are consistently reviewed and communicated throughout the fleet to promote awareness and implementation. The Stop Work Authority and Responsibility Principle emphasizes that everyone on board is accountable for their own safety and that of their colleagues. Before any task begins, a pre-job risk assessment and Toolbox Talk discussion must take place. Every crew member is not only authorized but also responsible to intervene and stop any unsafe work without facing repercussions. This reinforces a collective commitment to safety and promotes a work environment where no task is so critical that it cannot be done safely. This principle holds significant importance for all seafarers, irrespective of their rank, as it establishes a collective responsibility for safety. The authority granted to individuals to stop unsafe work underscores the paramount importance of safety over any operational urgency. This principle fosters a culture where prioritizing safety is non-negotiable, contributing to accident prevention and safeguarding the well-being of all maritime personnel. In conclusion, intervention is regarded not merely as a procedural action, but as a fundamental aspect of our safety culture. Consistent application of these safety practices reinforces the integrity of our operations, enhances crew performance, and upholds the Company’s commitment to operational excellence. Intervention at Sea: Empowering Crew for a Safer Shipping Industry Christiana Evangelia Katsika HSQE Assistant

17 LMM V I S I O N ISSUE 20 | Q1 2025 ARTICLE In March, the maritime industry became the focus of sophisticated cyber attack groups. Two high-profile incidents have highlighted the growing risk and the urgent need for heightened cybersecurity awareness across our fleet. Lab Dookhtegan Attack on Iranian Oil Tankers The Iranian anti-government hacktivist group Lab Dookhtegan executed a large-scale cyber attack, disrupting communication systems on more than 100 oil tankers operated by Iranian government-affiliated companies. This attack disabled ship-to-shore and internal crew communications, revealing critical weaknesses in maritime communication systems. Tactics used ●● VSAT exploitation: The attackers leveraged weaknesses in VSAT satellite communication systems. ●● Credential Theft: Attackers gained elevated access credentials, enabling them to execute malicious commands and install malware across multiple vessels simultaneously. ●● Coordinated Execution: The synchronised nature of the attack suggests careful planning and advanced technical expertise, possibly involving prior reconnaissance and tailored exploits. SideWinder APT: A Strategic Shift Towards the Maritime Sector Historically focused on government and military targets in South Asia, the SideWinder group is now targeting maritime organizations —especially shipping companies and port authorities. Recent Incidents ●● A major European shipping company was targeted with phishing emails containing urgent updates on port access restrictions. Malicious attachments allowed attackers to establish persistent access within the company’s network. ●● A South Asian port authority fell victim to an attack where a phishing email disguised as updated maritime safety protocols led to a prolonged system compromise, exposing sensitive operational data. Attack Methods ●● Spoofed Emails: Messages mimic maritime authorities regulatory bodies, or industry partners to trick recipients into opening malicious attachments. ●● Malware in Documents: Attachments exploit known Microsoft Office vulnerabilities. ●● Lateral Movement: Once inside, attackers extract credentials and move through the ship’s network to gain access to critical ship’s systems. Exercise Results: Lessons Learned We recently conducted a phishing exercise across the fleet similar to the attack technique used by SideWinder. The simulated phishing email appeared to be from a port authority, informing the vessel of a random Port State Control inspection and requesting completion of a Pre-Inspection Report. The attached document, when opened, prompted users to click “Enable Content,” a common attack technique used by cybercriminals. While several Masters recognised the phishing attempt and reported it, still a small number of users failed to detect the deception. Some users interacted with the attachment and submitted vessel information. In a real attack, this could have resulted in unauthorised access to ship systems. Strengthening our defences To help our fleet protect from emerging threats and reinforce cybersecurity awareness, key actions include: ●● Training Continues: Ongoing phishing awareness sessions will help crew members spot threats early. ●● Individual Follow-Up: Those who failed the simulation will be contacted for further guidance. ●● Immediate Reporting: Reporting suspicious activity is critical to stopping real threats in time. Final Thoughts Cyber attackers are evolving—and shipping companies and port authorities are now in their sights. This shift suggests a growing interest in intelligence gathering on maritime operations. Through awareness, vigilance, and strong security practices, we can defend our fleet and operations from disruption. Stay alert. Report concerns. Protect the fleet. Cybersecurity Alert: Maritime Industry Under Targeted Cyber Attacks Vassiliki Spilioti Group Cyber Security Manager

18 LMM V I S I O N ISSUE 20 | Q1 2025 Cyber attacks by SideWinder use … emails, malware in documents and lateral movements. The recent campaign aims at raising awareness of … events on fleet vessels. Before any task begins, a pre-job risk … and Toolbox Talk discussion must take place. 3. 4. 5. This shift in cyber attacks suggests a growing interest in … gathering on maritime operations. The authority granted to individuals to stop … work underscores the paramount importance of safety over any operational urgency. The principle of Intervention is crucial for all seafarers, a s it establishes a collective responsibility for … 1. 2. 6. Across Down 1 2 3 4 5 6 LMM VI S ION QUARTERLY EDITION ISSUE 20 – Q1 2025 ISSN: 2653-9519 A JOINT PUBLICATION OF LATSCO MARINE MANAGEMENT INC. & SAFETY4SEA © LATSCO MARINE MANAGEMENT INC. (LMM) © SAFETY4SEA LMM 4, Xenias Str, 14562, Kifisia www.latsco.com SAFETY4SEA 2, Afentouli Str, 18536, Piraeus info@safety4sea.com www.safety4sea.com DISCLAIMER / TERMS OF USE The content of this magazine is provided by LATSCO MARINE MANAGEMENT INC. (LMM) & SAFETY4SEA for information sharing and educational purposes only. While both LMM & SAFETY4SEA have taken due care and diligence to ensure that all the information and material provided herein is, to the best of their knowledge and understanding, true accurate and complete. Furthermore LMM & SAFETY4SEA make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the Information. Any reliance placed on such Information is therefore strictly at the readers own risk and no responsibility is accepted for any loss or damage howsoever arising. The reproduction or distribution of any part of this publication in part or as a whole is NOT permitted without the prior written consent of LMM & SAFETY4SEA as all intellectual property rights are fully reserved by LMM & SAFETY4SEA for their own content respectively. Furthermore LMM has no liability whatsoever with regards to the material provided by SAFETY4SEA, while SAFETY4SEA has no liability whatsoever with regards to the material provided by LMM within this publication. This disclaimer shall be governed by and construed in accordance with English law. CROSSWORD Crossword Answers 1.INTELLIGENCE 2.UNSAFE 3.SPOOFED 4.BLACKOUT 5.ASSESSMENT 6.SAFETY

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