QUARTERLY EDITION | ISSUE 23 | Q4 2025 LATSCO MARINE MANAGEMENT INC. 9 772653 951008 23 ISSN 2653-9519 LEADING BY EXAMPLE: Mentorship, learner mindset and safe work at sea Lessons Learned: Vessel hijacking by pirates in Indian Ocean Work Process: The 7-Step Conversation
Great Yarmouth Peterhead London Manila Rotterdam Hamburg New Orleans Shanghai Guangzhou Aalborg Den Helder Algeciras Dubai New York/ Houston Corpus Christi San Francisco / Oakland Malé Montreal Vancouver Singapore Jacksonville Seattle Portland Las Palmas Valencia Copenhagen Zeebrugge Antwerp Panama Esbjerg New Jersey Qingdao Piraeus Busan Marseille Los Angeles / Long Beach We are where you are With us, you have local, regional and global expertise – also in the next port Easy to do Business with wrist.com
3 LMM V I S I O N ISSUE 23 | Q4 2025 Dear colleagues, The last quarter of the year has already come to an end, and we are glad to share with you the Company’s milestones, challenges and achievements of the year. Our Strong and Continuous presence to many Forums, Committees, Conferences and University events continued during Q4 2025, enhancing Company’s extravert culture and gaining knowledge on various technological advancements and staying close to all latest developments. 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! Namely, Tech-Driven Environmental Excellence Forum, SAP innovation day for Maritime Industry, People Tech Maritime, SIGTTO Workshops on the use of Alternative fuels on gas carriers, YES Forum and 24th Navigator Forum. Leading or participating as per Company’s priorities to Social Responsibility and Accountability initiatives, we are more than happy for all the initiatives such as Blood donations, running for good purpose supporting ELEPAP! Company’s fleet was expanded with the acquisition of the Second-hand MR tanker Odyssean under LMM Technical Management, operating as a third-party Management for VENERGY MARITIME. The Company also successfully completed eight (08) Special Surveys strictly adhering to the timeline, budget and with no safety incidents. Special reference needs to be made to the piracy incident of HELLAS APHRODITE within November 2025 which was one of the most significant challenges our Company has faced. Fortunately, all crew members were safe, and incident was successfully dealt with resulting only in material damage, which has been properly rectified. The proper immediate response of our crew onboard and the effective coordination of all involved personnel ashore reMessage from COO In this issue 04 LMM at a glance 05 Company News 11 Seafarers’ Interview 14 Work Process: The 7-Step Conversation 15 The effect of high nitrogen cargoes on LNG industry 16 Vessel hijacking by pirates in Indian Ocean 18 Crossword sulted in the successful outcome of this significant challenge, which required resilience, adaptability and efficient coordination amongst different parties. December was a month filled with joyful and meaningful events. We celebrated the Sanctification Ceremony in honor of Agiou Nikolaou Name Day and the Company’s Christmas Parties held in Athens, London, and Manila. As every year, we were delighted to host our annual Christmas Dinner in honor of our Seafarers, recognizing their dedication, commitment, and hard work throughout the year. In addition, the Company organized its annual Kids’ Christmas Party, featuring a variety of engaging activities for families. The event also provided a wonderful opportunity to recognize and award students. Following the completion of Q4 2025, the Company successfully conducted its Annual MRM Off-Site Conference on 13 February at Four Seasons Astir Palace in Athens, with the participation of all office personnel. The conference included a comprehensive five-year performance review, evaluating operational results, financial performance, safety metrics, as well as “tough” moments and organizational development. In addition, the Company’s strategic plan for 2026 and the subsequent years was formally presented and discussed. Two additional days were dedicated to indepth departmental presentations, during which each department presented its achievements, addressed current challenges, and defined priorities and action plans for the upcoming period. The key message of this year’s management review was that “Talent wins games… teamwork and intelligence win championships”. I would like to thank all Company’s personnel for their hard work and commitment. We need always to identify areas of improvement, take immediate actions and keep towards improving ourselves. Enjoy reading! EDITORIAL Antonis Georgantzis Chief Operating Officer Cover HELLAS SPARTA and HELLAS DYNASTY STS operations at Balboa Panama
4 LMM V I S I O N ISSUE 23 | Q4 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 50 75 15 57 80 19 30 25 20 15 10 5 0 Fleet size 2016 - 2026 | New Building projects Existing Delivered Sold -5 -10 2023 2025 2016 2017 2018 26 17 23 25 6 2 2 0.2 0.18 0.16 0.14 0.12 0.1 0.08 LTIF / TRCF LTIF TRCF 0.06 0.04 0.02 0 4 5 Number of Observations per SIRE Inspections 2024 2025 2023 3 2 1 0 5.44 4.2 1.81 2020 2021 2 2 27 2019 27 2022 4 28 2 29 -3 -2 -1 6 Sep24-Aug25 Oct24-Sep25 Aug24-Jul25 Dec24-Nov25 Jan25-Dec25 Nov24-Oct25 30 2024 -3 -3 29 5 2026 31 2 Jul24-Jun25
5 LMM V I S I O N ISSUE 23 | Q4 2025 COMPANY NEWS People Tech Maritime – Digital Athens Conference 2025 in Eugenides Foundation Company’s Group IT Manager, T. Galanis participated in the panel at People Tech Maritime – Digital Athens Conference 2025 in Eugenides Foundation, discussing the differences between the interests of technology investors and shipping companies when it comes to maritime digital technology and how this impacts the adoption of new technologies in Shipping industry and the customer trust and satisfaction. Participation in SIGTTO Workshops on Alternative On October 14–15 & 16, Iason Zacharioudakis, OTEM Manager, participated in two SIGTTO workshops that focus on the use of alternative fuels on gas carriers. The first workshop, sponsored by Latsco and chaired by Iason Zacharioudakis, addresses design, operation, and maintenance recommendations for gas carriers using methane, ethane, LPG, or ammonia as fuel for propulsion or power generation. This was the fourth workshop regarding the use of alternative fuels on gas carriers. The second workshop, the fifth in a row, in which we took part as working group members, is about Critical Spare Parts – Recommendations for Identification of Critical Equipment, Spare Parts and Special Tools, and focuses on developing guidance for identifying critical equipment, spare parts, and specialized tools for vessels operating on gas fuel. YES to Mentoring Program 2025 YES to Mentoring has returned for 2025, and this year our company is proudly represented by four mentors: Giannis Moschatos, HR Business Partner, Konstantina Manifava, PMS & Performance Engineer, Vasilis Tziokas, Purchasing Manager, and Angelos Telonis, Superintendent Electrical Engineer. This is a 6-month program that offers a valuable opportunity for young people taking their first steps in the maritime industry, providing them with guidance and support from experienced professionals in the field. The program is structured as 1:1 mentoring sessions, enabling personalized support and advice. Participation in Forums-Conferences
6 LMM V I S I O N ISSUE 23 | Q4 2025 Tech-Driven Sustainability: Latsco at the ESG Shipping Awards International On November 19th, our OTEM and Sustainability teams participated in the “Tech Driven Environmental Excellence” forum at the 2025 ESG Shipping Awards International, held at Zappeion, following our Gold Award win earlier this year for Environmental Leadership. During the event, OTEM Manager shared our approach, which is firmly rooted in digital innovation, data leadership, and strategic collaboration. A key highlight was the introduction of the industry’s first verified environmental platform for real-time emissions monitoring, enhancing transparency and enabling accurate performance tracking. COMPANY NEWS Engaging Students with the Future of the Maritime Industry On October 9–10, Christoforos Chrysafis, Spares & Supply officer, representing Latsco, participated in a two-day awareness initiative for primary, middle, and high school students. The event took place in Alexandroupolis under the title “YES Tour to Schools.” The initiative was organized by the YES FORUM in collaboration with the Region of Eastern Macedonia & Thrace, the Alexandroupolis Port Authority, and the Evros Chamber of Commerce, aiming to inform students about the opportunities and career prospects within the maritime industry. SAP innovation Day for Maritime Industry During the SAP Innovation Day for Maritime industry on SAP ‘s premises in Athens, Thodoris Galanis, Group IT Manager, and Nikos Doukas, Business Applications Manager, presenting Company’s journey with the introduction of the SAP Analytics Cloud platform to cover the Budgeting, the Reporting and Data Analytics needs. Further to that they presented the project of the new Invoice Management Application within the SAP BTP and how we migrated from the legacy solution.
7 LMM V I S I O N ISSUE 23 | Q4 2025 COMPANY NEWS On November 18th, our 2025 Business Day, organized in collaboration with the Panorama of Entrepreneurship & Career Development, took place, marking our 8th Panorama Business Day and the biggest one so far. The event welcomed 50 students, offering them the opportunity to step into the world of shipping through open discussions with our executives, interactive knowledge-sharing sessions, and meaningful conversations with our HR team. A big thank you to our colleagues for their valuable contribution! One new vessel has temporarily joined our fleet in November: the MR Oil/Chemical Tanker Odyssean built in 2020 at Hyundai Mipo Dockyard, a shipyard renowned for its high quality construction standards. Odyssean is currently under our Technical Management, but in 2026 will be placed under Venergy and will be the third vessel in its fleet, together with Captain Leon and Captain Nikos. We look forward to her safe and efficient service under our management. For another year, we upheld our title as the Cool Runners, supporting ELEPAP and the valuable work they do. A big congratulations to Michalis Katheklakis, Dimitris Mytilinis, Nikos Benakis, Dimitra Kritikaki, Giannis Koulouris, Kleopatra Afentoklea, Apostolos Malandrakis, Giannis Moschatos and Maria Lagou for participating in the 5km and 10km races, and a special shout-out to our marathon runners Thodoris Galanis, Marina Asimopoulou, Christoforos Chrysafis, Antonis Chatzidoulis and George Arfanis for their outstanding dedication and remarkable effort in conquering the full marathon distance. Fleet Expansion: Welcome Odyssean LATSCO Cool Runners at the 42nd Athens Marathon Latsco Business Day 2025 Latsco participated in the Career Day of Athens University of Economics and Business (AUEB) on November 10th at Zappeion. Our representatives, Giannis Moschatos, HRBP, and Maria Lagou, HRBP, had the opportunity to connect with final-year students and recent graduates, sharing insights about our company and exploring potential career paths for the next generation of talent. Latsco at AUEB Career Day
8 LMM V I S I O N ISSUE 23 | Q4 2025 COMPANY NEWS On November 27th, Giannis Moschatos, HRBP, and Niki Kostiani, HR Generalist, represented Latsco at the YES Forum Career Day, held at the Economic Chamber of Piraeus. There, they had the opportunity to connect with emerging talent, mainly from the maritime sector, showcasing our company’s culture and engaging with young professionals eager to explore career opportunities in the industry. Latsco “Yes” Forum On November 11th, Lydia Stathi, Sustainability Assistant, represented our company by participating in a fireside chat at the 24th Navigator Forum, exchanging insights on ESG initiatives. Our participation in the panel reflected our maturity in ESG reporting, which was a key reason we were invited to contribute to this discussion. Latsco shares ESG Expertise at the 24th Navigator Forum On December 17, employees of the Athens office were invited to The TwentyOne to celebrate the holiday season and the collective achievements of the year. The evening was filled with joy and festive spirit, providing a great opportunity to come together, enjoy time as a team, and reflect on the year as it came to a close. Athens office Christmas party The established 6-month In-House Conference in Manila took place mid-December, in presence of Nikos Toumazatos, Crew Manager, and John Panorios, Deputy COO. The fullday event included key note presentations and engaging discussions with Seafarers from both LATSCO and MARLA fleets. All latest Company developments, fleet expansion plans, incidents and safety management changes have been communicated to the attending Seafarers. On the following day, the annual Manila office Christmas Party took place at SHERATON MANILA HOTEL, in presence of more than 200 Seafarers and their families, providing a festive year-end celebration. The Party was attended by Nikos Toumazatos and John Panorios, along with Captain Anthis, LMM representative, and the Manila office personnel. Seafarers had the opportunity to connect with their colleagues and celebrate together the completion of a successful year. We look forwarding to another year of growth, collaboration and continued success for our Seafarers. Manila office In-House & Christmas Party The London Office Christmas Party took place in mid-December at Annabel’s. It was an enjoyable evening for the entire team, offering a chance to unwind and celebrate a successful year together. Our Principal, Paris Kasidokostas, and Senior Management from Athens and Monaco were also present, further strengthening the close bonds within our company. London Office Christmas Party Our company hosted its annual Kids’ Christmas Party—a festive celebration dedicated to embracing the holiday spirit and honoring the children of our Latsco family. As part of the celebration, our company recognized the achievements of young scholars by presenting awards to students who excelled academically. Kids Christmas Party
9 LMM V I S I O N ISSUE 23 | Q4 2025 COMPANY NEWS On December 5, we held a heartfelt sanctification ceremony in celebration of Agiou Nikolaou Name Day. The event took place at Hellas Fos and was attended by our Principals, Latsco Management, and all our team. The ceremony began with the sanctification, followed by a speech from Mrs. Marianna Latsi, who addressed the audience with gratitude. She thanked all employees for their collective achievements and the company’s overall results, expressing special appreciation to the Hellas Afrodite crew and shore personnel for their courage and remarkable resilience in overcoming the recent incident on our vessel. Sanctification Ceremony at Latsco Office On December 16, a warm and festive Christmas Dinner was organized by our Company at Ecali Club, Athens for our Seafarers presently ashore and their spouses. The LMM technical management leadership team and the departments in close contact with Seafarers joined Mr. Georgantzis, COO, in this celebration, in honor of our Captains, Chief Engineers, Deck and Engine Officers. Through this festive event -recognizing Seafarers dedication and hard work- all participants recognized that joint efforts, collaboration and efficiency between Sea and Shore staff is essential to form a successful team. We look forward to continuing this -now established- tradition and to increase the number of our attending Seafarers in the years to come. Seafarers Christmas dinner Our third and final blood donation drive for 2025 took place on November 27th at Hellas Fos in collaboration with Laiko Hospital. Gratitude and congratulations to Vassilis Aggelinis, Stefania Atmatzidi, Archodoula Vlachou, Evangelos Vourlakis, Christos Giannakis, Petros Gkilipathis, Anastasis Dardamanis, Giannis Kottas, Maria Lagou, Apostolos Malandrakis, Panagiotis Papachristos, Andriana Stavropoulou, Aggelos Telonis, Christos Blood Donation 2025 We are thrilled to announce a successful milestone in our journey toward data-driven assurance and digital innovation in the maritime industry. In collaboration with Lloyd’s Register, we conducted a proof-of-concept digital survey on M/T Hellas Margarita, testing Auxiliary Engine alarms, controls, shutdowns, and safety systems remotely while the vessel was underway. These results were then benchmarked against conventional physical surveys— proving that digital assessments can deliver equivalent findings with less disruption to operations and greater Latsco and Lloyd’s Register Set Sail Toward Digital Surveys on M/T Hellas Margarita reliability through raw data usage. This initiative is part of Latsco’s commitment to preparing the industry for a more connected, data-focused future. By leveraging verified operational data, we are exploring new ways to support survey crediting while maintaining the highest standards of safety, integrity, and technical excellence. A special thank you goes to the technical department and crew of M/T Hellas Margarita for their invaluable support in making this achievement possible. Latsco and Lloyd’s Register Set Sail Toward Digital Surveys on M/T Hellas Margarita. Triantafyllou, Christoforos Chrysafis, for their generous participation and contribution. Your support helps save lives and makes a real difference in our community.
10 LMM V I S I O N ISSUE 23 | Q4 2025 COMPANY NEWS 0 0 PSC DEFICIENCIES 1 0 ACCIDENTS CATEGORY A,B,C TOTAL RECORDABLE CASES 0 7 VETTING OBSERVATIONS 0 UNLAWFUL ACTS 0 PSC DETENTIONS Q42025 Safety Scorecard LTIF COMPLAINTS ENERGY MAJOR REJECTIONS 0 We would like to introduce you our new team members who joined LMM in Q4 2025. New Hires ●● Konstantina Lignou, Deputy Newbuilding Project Manager ●● Pantelis Keramydas, Spares & Supply Officer ●● Antonis Chatzidoulis, Technical Superintendent ●● George Lokmanidis, Crew Assistant As a result, our current headcount for LMM is 128 employees, with 27 Managers, 64 Officers/Superintendents / Port Captains and 37 Assistants. Promotions ●● Mrs. Victoria Tsagianni has been promoted to Operations Officer Concerning our sea staff, 52 new crew members joined our vessels. Additionally, during this quarter, we succeeded to offer 26 promotions as per below: ●● From C/O to Mstr: 1 ●● From 2/O to C/O: 5 ●● From 3/O to 2/O: 2 ●● From D/C to 2/O and 3/O: 7 ●● From 2/E to C/E: 2 ●● From 3/E to 2/E: 2 ●● From Eng/c to 4/E: 4 ●● From Wpr to Ftr: 1 ●● From MSN to ASC: 2 Promotions & New hires
11 LMM V I S I O N ISSUE 23 | Q4 2025 SEAFARERS’ INTERVIEW INTERVIEW WITH SEAFARERS LEADING BY EXAMPLE: MENTORSHIP, LEARNER MINDSET AND SAFE WORK AT SEA In this issue, we have the pleasure to host Capt. Dimitris Oikonomou (DO) of Hellas Fos, Capt. C. Pilaspilas (CP) and C/E Racell Ibanez (RI) of Hellas Nemesis, Capt. E. Kontorousis (EK) and C/E Ioannis Nikou (IN) of Hellas Voyager, and Capt. Dejan Vasiljevic (DV) of Lady Henrietta. All of the interviewers are well experienced and we are glad they share with us their knowledge and opinion on work process, mentoring onboard and learner mindset. How do you demonstrate your understanding on the Work Process, steps and measures, based on applicable Company’s procedures? DO: As Master onboard, demonstrating an understanding of work processes, steps and measure; it involves systematic planning on how we do a particular job and understand risk involved, and it may include reviewing any debriefings on same tasks to enhance efficiency and quality, thus work planning meeting are carried-out prior any work to be done. Communication is also a big part in this process, wherein a ToolBox meeting is always a part of the steps that converts individual outputs into a team effort. Checking equipment to be used by testing and calibration, and to confirm if it will fit for that purpose is also an essential process in order to have an effective workflow for the task. Workplace preparation should also be involved into the process to ensure all the crew involved on the task will have a safe environment while performing the task. Lock-out, tag-out any machinery to control energy if required. Final checks should be carried out by filing required checklist on the workplace and carefully ticking individual items to verify and validate that all safety and precautionary measures as per Company procedures are available and implemented. CP: It is always my philosophy and reminds the crew that in order to understand something better, you must know the benefits of it in your day-to-day job. Company’s procedures are not some kind of burden and paperwork that is just there to put additional workload to the officers and crew. It is a safeguard for everyone to do the job safely with relevant SMS procedures, permits, checklist and risk assessments. Before starting any job, we review safe working practices and ensure that all activities are in full alignment with the company’s Safety Management System. I always encourage the crew to ask for relevant permits during toolbox meeting in order for them to review and ask any safety concerns with regards to the task. As I always say, company’s risk assessments will minimize the risk for any task in order to do it safely or we will not do it at all. There is no middle ground. During execution, I vigorously monitor each step, intervene when deviations are observed and ensure that safety barriers remain effective. I also participate in debriefing not only for any areas of improvement but also to
12 LMM V I S I O N ISSUE 23 | Q4 2025 credit each and every one for accomplishing the task safety and in line with company procedures. RI: Company procedures are guardrails designed to manage risk; demonstrating understanding of company procedures is less about reciting the manual and more about showing how those rules translate into safe, efficient result. One of the best ways to demonstrate your understanding is by conducting toolbox talk or briefings and identify the required PPE and permits requirements before the work starts. Use stop work authority if condition changes or become unsafe. EK: On board Hellas Voyager, Company procedures are applied as operational safeguards, not administrative requirements. My role is to ensure they are understood, implemented and verified in practice. Before any critical operation, cargo handling, navigation in confined waters, enclose space entry, hot work or bunkering, we follow a structed sequence: detailed planning, formal risk assessment, toolbox talk, clear allocation of responsibilities and active supervision during execution. I personally verify that all involved officers are familiar with the applicable procedure and that control measures are in place before commencement. During operations, emphasis is placed on communication, crosschecking and strict adherence to checklists. Deviations are not tolerated unless formally reassessed. If conditions change, we stop, re-evaluate and proceed only when risks are controlled. After completion, we conduct short reviews focusing on what went well, what could be improved and whether procedures were sufficient. This continuous verification ensures that procedures are not only followed, but fully integrated into our safety culture. DV: I demonstrate my understanding by consistently following Company’s documented procedures, safety management system and standard operating procedures in daily work. Before any task, I review the relevant procedures, risk assessments and permits to ensure all steps and controls are clearly understood by the team. Plan, Toolbox talk, prepare area, control of working area, final check and start work are the main keys for good safely performing of any job. During execution, I verify that each step is performed as planned, safety barriers are in place, and required measures are applied. After completion, I participate in debriefings and report any deviations and improvement suggestions, ensuring lessons learned are captured and shared. What is required for the ship leaders to serve as mentors and maintain their coaching and engagement skills? DO: For a ship leader to effectively serve as mentors, he should also be an active listener. It creates trust and safe environment for open dialogue with his subordinates. When making questions, he should refrain from giving direct answers, rather ask open-minded questions in order for them to self-reflect and independent problem-solving. Leaders should not criticize but rather give constructive feedback to the crew on a factual basis, in a timely manner for their growth and understanding. Leaders should also build psychological connections for the crew members to have a safe environment for them to comfortably share ideas, beliefs and it may include admitting mistakes or errors without fear of incrimination. CP: Leaders must always demonstrate professionalism, accountability, and integrity with strong interpersonal and communications skills. We must practice active listening and promote a psychological safe environment where crew feel confident to speak up. In order for the crew to ask questions we must make them feel comfortable and offer answers or solution to the problem rather than judgement to the person. Mentoring our subordinates will make our life safer and easier knowing that we are sailing across the oceans on one ship with competent sailors which were trained and mentored by us. Being visible, approachable and supportive, we strengthen team competence and overall performance of our crew onboard. RI: To serve as effective mentor and maintain the coaching and engagement skills, ship leaders must balance regulatory and compliance with a proactive “culture of feedback”. Being a leader is not just giving orders but also an active listener. EK: Ship Leaders must combine authority with responsibility for developing their teams. On a gas carrier, mentioning is directly linked to safety performance. Senior Officers are expected to demonstrate correct practices at all times, from permits to work compliance to bridge resource management. Coaching is conducted during daily operations like correct use of equipment and / or ensuring juniors underSEAFARERS’ INTERVIEW
13 LMM V I S I O N ISSUE 23 | Q4 2025 stand the reasoning behind decisions. Engagement is maintained through presence on Deck and on the Bridge during critical operations. Leadership cannot be exercised remotely. Officers must observe, correct, guide and intervene when required. To maintain coaching effectiveness, leader must remain disciplined, updated with company Safety Bulletins and aligned with industry best practices. Continuous learning ensures that guidance given to the crew is current and accurate. IN: For engine room leadership, mentorship is directly connected to safety and machinery reliability. Senior Engineers must lead by example in following procedures, using proper PPE, maintaining housekeeping standards and respecting permit to work systems. Discipline in small routines prevents major incidents. Coaching is conducted daily during maintenance activities. Junior engineers and ratings are encouraged to understand not only “how” a task is performed but “why” specific safety measures are necessary. We explain system design, failure risks and potential consequences of improper actions. A Chief Engineer must be physically involved during critical overhauls, troubleshooting and high-risk jobs. Direct supervision builds confidence and ensures standards are maintained. Leaders must continuously update their knowledge, review incident reports and discuss lessons learned with the team. A technically competent and approachable leader builds trust and improves overall safety performance. DV: Ship leaders need to actively role-model safe behaviors, professionalism and open communication. This includes being approachable, listening to crew concerns, and providing regular constructive feedback. Continuous selfdevelopment through leadership training, safety workshops, and human factors awareness helps leaders improve their coaching skills. Leaders should create an environment of trust where crew members feel comfortable asking any questions, reporting near misses, and suggestion improvements. Regular one-on-one conversations and recognition of good performance also help maintain engagement and motivation within the team. How is the Learner Mindset demonstrated by ship’s team, in planning meetings, toolbox talks, watch changes and familiarization process? DO: Individual learners mindset view in relation to planning meeting, toolbox talks, watch changes and familiarization process, embraces this as an active tool to embrace challenges on a day-to-day routine task onboard. They adopt all these steps for their personal growth and to yield better outcome. CP: I always tell my crew that there is no such thing as wrong question - only wrong answers. I always encourage them to ask questions in order for them to learn or clarify any concerns with any activities onboard. It’s acceptable not to know everything but it’s not acceptable not to try to learn. Active participation, open dialogue and relevant questions during meeting and toolbox talks were encourage. Sharing of knowledge and experiences with regards to previously operations were discussed. Watch changes are critical and officers must ensure comprehensive information exchange, verification and clarification for any uncertainty must be raised immediately. New joiners are guided as per company familiarization checklist and are encourage to ask concerns without hesitation. These learning behaviors must be promoted as normal culture onboard in order to strengthen situational awareness, resilience and vessel’s overall safety culture. RI: In planning meeting, a learner mindset team is shown by questioning the status, instead of just accepting the plan, by asking “is there a safer or more efficient way to align with current safety management system (SMS)?”. The team will discuss “what if?” scenarios. The experienced crew members will explain the reason for specific measure rather than just demanding it be done. DV: The Learner Mindset is demonstrated when the team actively participates in discussions, ask questions and seeks to understand risk and best practices. During planning meeting and toolbox talks, crew member share experiences, rise concerns, and suggest safe or more efficient ways of working. During watch changes, information is clearly communicated and verified to avoid misunderstanding. In the familiarization process crew members proactively learn vessel-specific procedures, equipment and emergency routines, and experienced crew support for newcomers. Feedback and lessons learned are openly discussed to continuously improve performance and safety culture. SEAFARERS’ INTERVIEW
14 LMM V I S I O N ISSUE 23 | Q4 2025 THE 7-STEP CONVERSATION WORK PROCESS: “Starting work is NOT step #1” 0 Bypassing Safety Controls Work Authorisation Safe Mechanical Lifting Line of Fire Hot Work Energy Isolation Driving Confined Spaces Working at Height 1 PLAN How will we do the job, risks understood Roles clear & Failing Safely by design Review debriefs and incidents 2 COMMUNICATE Toolbox Talk – Ask Open Qs Understand Personal & Process Risks Communication lines clear 3 CHECK EQUIPMENT Certified / Tested / Rated Fit for Purpose / Calibrated No Damage / not home-made 4 PREPARE AREA Flat & level/Housekeeping Exclusion Zones Check above and below 5 CONTROL ENERGY Isolate (LOTO & Test) Line of fire / DROPS / Hands free Escape Route tested 6 FINAL CHECK Stop Work Checks Verified How to Fail Safely when it goes wrong Emergency Report practiced 7 START WORK Adhere to Life Saving Rules Follow Process Safety fundamentals PAUSE when things CHANGE AFTER ACTION REVIEW Highlights – Improvement areas – Interventions – Action
15 LMM V I S I O N ISSUE 23 | Q4 2025 ARTICLE As the world walks to the net zero era, which is targeting the 2050 but might slightly be move to early 2060s, it is now firm that LNG will be the transition fuel accompanied by the rest of the newly developed green fuels as hydrogen, ammonia or methanol. Accompanied with the renewable sources of energy, complete a puzzle of the energy sources with the minimum environmental effect. However, the invasion of Russia to Ukraine and the suctions followed to Russian federation, remove from the market a huge LNG supplier. Especially from Europe as an immediate buyer. Further to the agreement between USA - Europe, part of these quantities would be replaced by US Exporters. In order to serve such demand from the above agreement but also to fulfill the already existing contracts with Asia – Far East Markets, the quality of LNG start reducing to less pure methane (CH4) composition enhanced also with Nitrogen(N2). When a so-called rich LNG cargo on Early’s 2020 had Methane purity more than 97%, where among others, nitrogen included was no more than 0,2%mol, the extreme demands transformed the LNG quality composition to 90,5% methane purity and Nitrogen content more than 4 times higher to 0,9%mol. As the nitrogen is inert gas, on high content reduces the heating value of LNG, as a result the dual fuel vessel’s machinery systems, as Main Engines and Power Generators, to suffer from overconsumption of LNG or even stoppages on their attempt to meet their performance standards. However, such cargoes sold with low prices to buyers with access to grid with flexible specifications or in companies with gas blending infrastructure enable them to segregate it and advantage from it since Nitrogen can be deducted from the CO2 emission and reduce the relevant penalties. Another issue which made these cargoes very challenging is the N2 content effect to the cargo temperature. Such cargoes when loaded, might have liquid temperatures of -161,5 to -162 or even higher when classification society declared and approved the cargo tanks with design temperature of -163C. In some cases, the classification societies forced/urge by the Suppliers and cargo tanks makers, to change the vessel’s fitness certificates and declare as new design temperature of cargo tanks the -165C in order to accommodate market requests for increased volumes. Even the main engines and generators reduced performance is one part of the problem, another one is how vessel’s machinery equipment such are the Boil Off Gas (BOG) compressors which used to send the LNG vapour to Main Engines/Generators, the Reliquefaction plant and most important the relevant cargo piping affect by such low LNG temperatures. So, it was imperative that the makers of all the above equipment to provide guidance on the handling of such cargoes. Concluding, after gathering and reviewing all the limitations of makers for the case when such cargoes loaded in company’s vessels, we were able to determine with charterers specific control measures and mitigations steps, in commercial, operational & machinery perspective to avoid any exposure, machinery failure or future consequence effect from continual usage. The effect of high nitrogen cargoes on LNG industry Capt. Anthimos-Alexios Pippos Port Captain
16 LMM V I S I O N ISSUE 23 | Q4 2025 INCIDENT REPORT Vessel hijacking by pirates in Indian Ocean Incident Description While the subject vessel was transiting the Indian Ocean Southbound (at a distance of 550nm from Somali coast) on the way to Durban, in laden condition with full cargo of Gasoline onboard, the Master on the bridge sighted a fishing dhow approximately 10 n. miles directly ahead of the vessel and altered course to Port to give it a wide berth. A few minutes later, he also observed the presence of a small skiff close to the dhow, which started proceeding towards the vessel. Immediately he identified that this is behaviour indicative of a piracy attack and gave the command to alter course further to Port, leaving the dhow and the skiff behind the vessel, and increased speed to maximum. The skiff opened fire against the vessel, with bullets breaching vessel’s bridge windows and with RPG that breached
17 LMM V I S I O N ISSUE 23 | Q4 2025 Lessons learned Each voyage through the Indian Ocean is risk-assessed in line with Security intelligence available at the time and continues to be reassessed while the vessel is enroute. Always maintain the minimum distance from Somali coastline as per voyage-specific Risk Assessment and Company’s Security procedures. On all voyages passing off Somali coast, vessels to have onboard a team of armed guards, while also maintaining sufficient distance from (i) shore and (ii) from any reported pirate activity in the area. vessel’s hull (above sea level, port side aft quarter freeboard, breaching into a cofferdam space without exploding in the vessel). Despite Master’s and crew efforts and preparedness (hardening as per BMP, conducting evasive manoeuvres at maximum speed, having razor wires armament on vessel’s sides, fire hoses running on vessel’s sides, blacked out windows on main deck, locking of all external accommodation entrances etc) the pirates were successful in boarding the vessel from their skiff. At the time of their boarding, all crew members had already successfully proceeded to the vessel’s Citadel area and remained locked-in, while establishing contact with the management company and Emergency Response Team via communication equipment installed in the Citadel. In line with security protocols and following coordination by the Emergency Response Team (that retained communication with vessel’s Master and with EU NAVFOR ATALANTA task force throughout the incident), the nearest available frigate was mobilized to render assistance to the vessel. It was also understood from crew onboard that the pirate group has departed from the vessel following their inability to take control and capture/kidnap any of the crew members, as all crew members remained safely locked in the Citadel. The next day, the naval frigate personnel boarded the vessel via helicopter, performed a thorough control of all areas and subsequently enabled the crew to exit unharmed from the Citadel. After the Master and crew completed an initial damage assessment of the vessel and having ensured the vessel’s seaworthiness and safety, the vessel resumed the sea passage, bound for her next port of call. Immediate Causes Substandard Action Inadequate course re-adjustment further offshore (east bound) from Somali coast, following identification and sharing of security intelligence in respect to Pirate Action Group activity in the Indian Ocean. Substandard Condition Vessel’s course was within operating radius of pirate mothership, as reported following the approach on another tanker (at a distance significantly closer to Somali coast) Corrective / Preventive Actions ●● Immediate instructions were provided to other Fleet Vessels transiting the Indian Ocean, to alter their routing and increase the distance from the Somali Coastline. ●● CSO revised the instructions to Fleet vessels for Northbound and Southbound transits through the Indian Ocean, increasing the distance to maintain from the Somali coastline for each such transit and mandating the employment of PCASP from Company’s list of approved Maritime Security providers , for each such transit. ●● Incident report was included in the agenda of the on-board discussion by all Fleet vessels, during the next scheduled SCM. ●● CSO conducted a vertical review of Company procedures and processes, with the aim to identify further improvements on identification, communication and assessment of Maritime Security Hazards when a vessel is sailing in areas of elevated Risk for piracy. ●● External Maritime Security experts/specialists reviewed the present arrangements for the Citadel space on each individual fleet vessel type, aiming to identify potential enhancements in communication facilities available, crew comfort for prolonged stay, ways to exercise additional control of the vessel’s movement and any other way the effectiveness of the space may be improved. ●● Company security procedures and processes were reviewed and re-assessed by External Maritime Security experts/specialists, with the aim to effect changes where necessary and further increase the level of preparedness and preventive actions. INCIDENT REPORT
18 LMM V I S I O N ISSUE 23 | Q4 2025 Each voyage through the Indian Ocean is risk-... As the nitrogen is ... gas, on high content reduces the heating value of LNG. The key message of 2025 MRM was “Talent wins games; ... and intelligence win championships”. 3. 5. 6. By leveraging verified ... data, we are exploring new ways to support survey crediting. The 7-step conversation of the work process starts with ... Company participated to various Social Responsibility and Accountability initiatives, such as blood ... 1. 2. 4. Across Down 1 2 3 4 5 6 LMM VI S ION QUARTERLY EDITION ISSUE 23 – Q4 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.OPERATIONAL 2.PLAN 3.ASSESSED 4.DONATION 5.INERT 6.TEAMWORK
As the maritime industry in Greece steers towards a greener future, DNV is at your side with practical solutions. Let’s chart your course to sustainability, together. World-class experts and your trusted local partner Regional Decarbonization Specialist Lefteris Koukoulopoulos Global Decarbonization Director Jason Stefanatos To learn more download the latest MF2050 here: dnv.com/maritime-forecast
RkJQdWJsaXNoZXIy MTUxOTY2