Safe Bulkers has taken delivery of Kypros Island, the first methanol dual-fuel bulk carrier to join the Cyprus register, after Shipping Deputy Minister Marina Hadjimanolis named the new vessel at a shipyard in China.

Built by Japan’s Tsuneishi Shipbuilding at its Zhoushan yard, the 81,200-deadweight-tonne Kamsarmax is also the first ship of its kind to enter Safe Bulkers’ fleet. Although designed to carry everyday dry bulk cargoes such as grain, iron ore and coal, it can operate on either methanol or conventional marine fuel.

Its delivery gives Cyprus a first foothold in this emerging part of the dry bulk market, where alternative-fuel vessels remain far less common than in container shipping. For Safe Bulkers, meanwhile, it puts a sizeable investment in cleaner ship technology to work.

The project has close ties to Limassol. Back in October 2023, Tsuneishi announced a two-ship order involving Safe Bulkers and Japanese trading group Itochu Corporation. The contracts for the methanol-fuelled Kamsarmax carriers were signed at Safe Bulkers Tower in the city, with delivery envisaged between the second half of 2026 and the first half of 2027.

Kypros Island was launched on June 25 at Tsuneishi’s shipyard on Xiushan Island, near Zhoushan. The newbuild subsequently underwent preparations for delivery, with sea trials scheduled for October 11 to 16, before its formal naming by Hadjimanolis during her working visit to China.

The ship’s design goes beyond its choice of fuel. Tsuneishi has modified the hull to improve efficiency and introduced aerodynamic features aimed at reducing wind resistance. A large methanol tank has also been placed towards the stern, allowing the vessel to retain much of the cargo capacity for which the Kamsarmax class is known.

A second methanol dual-fuel Kamsarmax is expected to follow in January 2027. Together, the two vessels form part of a wider renewal programme through which the company is replacing older tonnage with ships designed to consume less fuel and meet more demanding environmental standards.

In its latest published fleet update, covering July 24, Safe Bulkers reported 46 vessels with combined capacity of about 4.5 million deadweight tonnes, alongside an orderbook of ten newbuildings scheduled for delivery through 2029. It had also completed environmental upgrades on 25 existing ships, including measures to reduce resistance in the water and improve energy efficiency.

The arrival of Kypros Island comes as Cyprus seeks to draw more modern tonnage to its flag. Hadjimanolis has spent much of October meeting shipowners, shipbuilders and maritime executives in Japan and China, promoting the register and the wider services offered by the island’s shipping industry.

At a reception in Tokyo on October 15, she said the Cyprus register had grown by 27 per cent since September 2023, reaching its highest level in 25 years. The addition of the Safe Bulkers vessel therefore comes at a time when the government is pressing both to expand the flag and to attract newer, more efficient ships.

There is a regulatory reason for that push, too. The European Union’s FuelEU Maritime rules, which began applying in January 2025, gradually tighten the limits on the greenhouse gas intensity of energy used by ships calling at European ports. Shipowners are also preparing for further international requirements as discussions continue at the International Maritime Organisation (IMO).

However, methanol is not automatically a low-carbon answer. Although it can reduce certain air pollutants, its overall climate benefit depends on how the fuel is produced. Renewable methanol offers a much stronger emissions case than methanol made from fossil fuels, while availability and cost remain hurdles for operators.

That distinction matters as shipping companies decide where to invest. Kypros Island gives Safe Bulkers the flexibility to use methanol as cleaner supplies become available, without relying on a single fuel today. And for Cyprus, it brings that shift into the national fleet under a name that leaves little doubt about the vessel’s connection to the island.

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Around 6,000 seafarers remain trapped near the Strait of Hormuz, as attacks on commercial vessels intensify and concerns grow over the safety of crews caught in the continuing conflict between the US and Iran, according to the head of the UN’s maritime agency.

International Maritime Organization (IMO) Secretary-General Arsenio Dominguez warned on Sunday that conditions had become increasingly dangerous, with reports of 24 ships attacked in roughly two weeks and no guarantees of safe passage through one of the world’s most important shipping routes.

“The situation continues to be severe and critical when it comes to international shipping,” Dominguez told Fox News Digital, explaining that “there is a double blockade and too many vessels have been attacked, particularly in recent days.”

The consequences for those working at sea have been particularly serious. According to the IMO, 100 maritime incidents had been confirmed across the region as of October 9, while 24 seafarers have lost their lives since the conflict began on February 28.

With thousands of crew members still unable to leave the area safely, Dominguez urged vessels to avoid transiting the Strait until adequate assurances could be provided.

“Seafarers have continued to perish in these attacks and around 6,000 seafarers remain trapped since the beginning of the conflict,” he said, making clear that his message was not to transit the waterway or put crews at further risk “until we have guarantees.”

However, attacks on vessels are not the only concern. A separate dispute has emerged over the alleged misuse of VHF Channel 16, the internationally designated maritime distress and safety frequency, following accusations by Tehran that American military forces have been using it to threaten Iranian civilian crews.

In a letter circulated to IMO member states on October 9, Iran claimed that “VHF Channel 16 has been repeatedly occupied for prolonged periods by the United States military forces operating in the Persian Gulf.”

The letter went further, alleging that “during such transmissions, Iranian seafarers have been addressed in Persian with threatening, abusive and provocative language and in certain instances urged to abandon their vessels.”

Tehran accused Washington of turning a channel intended for maritime safety into an “instrument of military intimidation and psychological pressure against civilian crews”, and called on the IMO to raise the matter with member states and relevant international organisations.

Nevertheless, the accusations remain unverified. Although Iran referred to information from commercial vessels, shipping companies and maritime operators, it provided no recordings, transcripts or specific examples of the alleged communications.

For its part, US Central Command (CENTCOM) defended its enforcement of the naval blockade of Iranian ports, maintaining that shipping operators were properly informed and given sufficient opportunities to comply.

“The US naval blockade has been in place for months and is professionally communicated to all international mariners,” CENTCOM said, adding that “vessels that refuse to comply with blockade enforcement receive multiple warnings, with ample opportunity to comply.”

The disagreement has raised wider questions about the protection of maritime communication channels during military confrontations, particularly when civilian vessels find themselves operating in increasingly dangerous waters.

Dominguez stressed that merchant seafarers should not be treated as participants in military conflicts, pointing out that “seafarers are not trained for combat, and they are not guilty of any conflicts that are happening around the world.”

He also expressed concern that Channel 16, whose primary purpose is to facilitate distress and safety communications, could be used for messages that crews might reasonably interpret as threatening.

While the IMO has not announced a formal investigation, its secretary-general said the organisation could examine whether its existing procedures and regulatory framework needed strengthening to prevent similar incidents.

At the same time, another problem is complicating an already dangerous situation. According to Dominguez, fraudulent ship registrations and vessels operating under false flags have become increasingly prominent, with some operators continuing to transport cargo through the region despite the risks involved.

He warned that such practices were contributing to the escalation, particularly where ships were being used to move goods in and out of the affected area without adequate regard for crew safety.

Despite the continuing confrontation, diplomatic communication between the IMO and Iran has not broken down. Dominguez confirmed that he remains in contact with Iranian representatives through official channels, although he has no direct communication with the Islamic Revolutionary Guard Corps.

“I have conversations with them and they respond to my messages. You know, the information flows,” he explained, before acknowledging that “what is difficult is to get final decisions because of the conflict that is ongoing.”

Capital Maritime Finance raised €300 million through its stock market debut in Athens this week, marking Greece’s largest maritime equity offering and the first primary listing of a shipping company exclusively on Euronext Athens.

The initial public offering (IPO) attracted strong demand from Greek and international investors, with subscriptions exceeding the shares available by 4.34 times, according to an official announcement.

Shares were priced at €7.50 each, giving the container shipping company a market capitalisation of €1.05 billion on its first day of trading under the ticker CMFC.

The listing comes as the company prepares to expand its fleet considerably, with 23 new container vessels under construction, in addition to the 13 ships it currently operates.

Its existing fleet has a combined capacity of 27,891 twenty-foot equivalent units (TEU), while the vessels under construction will add another 120,874 TEU.

Once all deliveries are completed, Capital Maritime Finance will operate 36 fully owned container ships, all covered by long-term charter agreements extending as far as 2038.

Meanwhile, the IPO involved the issuance of 40 million new shares, bringing the company’s total share capital to 140 million shares, all of which have been admitted to trading in Athens.

Commenting on the listing, Capital Maritime Finance chairman Gerasimos Kalogiratos welcomed the response from investors, saying “The strong demand for our offering is a vote of confidence”, referring to the company’s business model, modern fleet and expansion plans.

He also emphasised the wider significance of the transaction for Greece’s maritime industry, stating that “This listing strengthens Greece’s position as a global maritime hub”.

The transaction marks the third shipping company listing on Euronext Athens in 2026 and the 70th listing across Euronext’s markets this year, reflecting the growing use of European capital markets to finance shipping investment.

Artificial intelligence can produce convincing messages and imitate empathy, but it cannot replace the trust and personal relationships that underpin the shipping industry, according to WISTA Cyprus vice-president Maria Theodosiou, who has questioned the growing reliance on technology for human communication. 

Writing on her personal platform, Theodosiou reflected on a contradiction she sees emerging in modern leadership, where businesses invest considerable effort in developing communication and emotional intelligence while increasingly allowing AI to speak on their behalf. 

Her comments followed a three-hour workshop titled ‘The Art of Leadership’, organised by WISTA Cyprus and delivered by Sofia Rizou, during which participants explored emotional intelligence, body language, communication and the influence of words through interactive exercises and role-playing. 

The experience prompted Theodosiou to consider how much time people devote to understanding one another, particularly through their choice of words, tone and behaviour. 

“We spend countless hours learning how to communicate more effectively,” she said, explaining that people work on everything from facial expressions and gestures to storytelling and emotional intelligence because words shape relationships, influence emotions and build trust. 

However, despite recognising the importance of these skills, she pointed out that “we are increasingly willing to hand over our communication to artificial intelligence,” raising questions about what might be lost in the process. 

The issue has become particularly interesting to Theodosiou as she progresses through MIT’s AI-Driven Leadership programme, which examines the impact of emerging technologies on organisations and the way they are managed. 

While studying the possibilities offered by AI, she has also been considering the qualities that distinguish human leadership from technological capability. 

As she explained, “We invest in developing the deeply human skills that make us effective leaders, while simultaneously embracing technology capable of imitating those very skills.” 

Indeed, although AI can already produce persuasive writing and carefully structured messages, Theodosiou questioned whether such capabilities amount to genuine understanding. 

“AI can write beautifully, structure compelling narratives and even simulate empathy,” she observed, before asking whether it could genuinely connect with people or recreate the warmth, vulnerability, intuition and trust that develop through personal interaction. 

Her answer was clear, as she does not believe technology can reproduce those experiences, regardless of how sophisticated its communication becomes. 

For Theodosiou, this distinction goes to the heart of what leadership should involve, particularly when dealing with people whose trust cannot be secured simply through well-chosen words. 

“Leadership, after all, is not simply about delivering the right message,” she said, stressing that it also concerns “how we conduct ourselves, the relationships we build and how we make others feel.” 

The discussion is especially relevant to shipping, where the adoption of AI and digital technologies is changing procurement, logistics, operational planning and supply-chain management. 

Although these developments can improve efficiency and support decision-making, commercial relationships across the maritime sector continue to depend on the ability of people to work together, resolve problems and build confidence over time. 

Theodosiou has previously made a similar argument about the industry’s technological development, placing people ahead of digital systems and artificial intelligence. 

Earlier, she maintained that the sector could succeed by “investing in people first, digital frameworks second, and AI third, in that order,” reflecting her belief that technology should support professional expertise rather than replace it. 

Her latest reflections take that position further, focusing on the personal connections that sustain maritime businesses even as more activities become automated. 

Theodosiou explained that the question is particularly relevant to the maritime, shipping and ship-supply industries, “where trust, collaboration, adaptability and practical expertise remain essential across the supply chain.” 

The workshop itself also reflected the importance of these qualities, with Rizou drawing on interactive learning techniques to demonstrate how communication, emotional awareness and behaviour influence relationships. 

Rizou’s wider work in maritime training includes Seafarers Boost, an initiative using theatre-based techniques to help maritime professionals develop communication skills, confidence and emotional resilience. 

For Theodosiou, however, embracing technology and preserving human connection need not be competing objectives. Rather, the challenge lies in understanding where AI can be useful and where personal judgement and interaction remain essential. 

“The future will undoubtedly be shaped by technology and AI,” she said, maintaining that the strongest leaders will be those who combine technological tools with “empathy, judgement, communication and the ability to build lasting relationships.” 

She therefore left readers with a question that extends beyond shipping and into the future of leadership itself, “As AI becomes better at finding the right words, will we become better at understanding their human impact?” 

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The European Union and China have called for greater stability in international shipping, with greener maritime transport, container markets and supply chain resilience dominating discussions in Shanghai, as Cyprus steps up efforts to strengthen its shipping relations with Beijing. 

The discussions took place on Monday, October 19, during the 19th implementation meeting of the EU-China Maritime Transport Agreement, according to a joint statement published by the European Commission.

Representatives from both sides examined developments affecting international maritime transport, particularly the challenges facing container shipping and the need to maintain reliable trade connections between Europe and China. 

The talks also covered green shipping, international maritime policies and the smooth functioning of supply chains, with both sides recognising the importance of stable and predictable conditions for shipping companies and international trade. 

Leading the European delegation was Fotini Ioannidou, director for waterborne transport at the European Commission’s Directorate-General for Mobility and Transport, while China was represented by Yang Huaxiong, director-general of the Water Transport Bureau at the country’s Ministry of Transport. 

Representatives of EU member states, Chinese authorities and the maritime industry also participated. 

For Cyprus, the discussions come as Shipping Deputy Minister Marina Hadjimanolis continues her 16-day Asian visit from October 14 to 29, covering Japan, China and South Korea, with the aim of strengthening maritime cooperation and attracting new business to the Cyprus shipping register. 

Having completed a series of meetings in Japan, Hadjimanolis has already held shipping discussions in Shanghai with Chinese officials and industry representatives, while her programme also includes the North Bund International Shipping Forum on October 20 – 21 and the 10th Capital Link International Shipping Forum on October 20. 

Her visit will also take her to Zhoushan for the naming ceremony of Safe Bulkers’ M/V Kypros Island, an 81,200-deadweight-tonne methanol dual-fuel bulk carrier, launched in June and scheduled for delivery at the end of October under the Cyprus flag. 

Meanwhile, the visit builds on September discussions between Hadjimanolis and Chinese ambassador Yang Yundong, during which the two sides examined maritime education, seafarers’ welfare and closer cooperation within the International Maritime Organisation (IMO). 

According to the Chinese embassy, Beijing also expressed an interest in strengthening coordination with Cyprus through the IMO, particularly on matters affecting international shipping. 

Beyond the bilateral relationship, the Shanghai meeting comes as Europe seeks to reduce its dependence on third-country maritime technologies and manufacturing while maintaining access to global shipping markets. 

Earlier this year, the European Commission introduced its EU Industrial Maritime Strategy, designed to strengthen European shipbuilding, encourage investment in cleaner technologies and improve the resilience of maritime supply chains. 

The Council subsequently endorsed the strategy’s priorities in June, during Cyprus’ presidency of the EU Council, highlighting the need to protect Europe’s competitiveness while accelerating shipping’s environmental transition. 

However, the green transition remains a considerable challenge for shipowners, particularly as international negotiations over a global framework for reducing shipping emissions have yet to produce a final agreement. 

The IMO postponed adoption of its proposed net-zero framework in 2025, with further negotiations scheduled for late November and early December 2026. The proposed measures include a global marine fuel standard and a mechanism for pricing greenhouse gas emissions. 

Meanwhile, the wider economic relationship between Brussels and Beijing remains under pressure. The EU’s goods trade deficit with China reached €360 billion in 2025, prompting European leaders to examine additional measures to address trade imbalances and reduce dependence on Chinese imports. 

The maritime agreement provides an established channel for cooperation. Originally signed in 2002 and entering into force in 2008, it is intended to improve conditions for maritime cargo transport, including access to ports, shipping services and commercial operations. 

Cyprus was among the EU member states incorporated into the agreement through a protocol signed in 2005, following the Union’s enlargement the previous year. 

Cyprus is stepping up efforts to attract Chinese shipping business, with Shipping Deputy Minister Marina Hadjimanolis holding talks with major maritime companies in Shanghai while calling for international environmental rules that protect the industry’s competitiveness.

Speaking at the 10th Annual Capital Link International Shipping Forum in Pudong on Tuesday, October 20, Hadjimanolis joined Greek Maritime Affairs Minister Vassilis Kikilias for a ministerial discussion on the challenges facing global shipping, from investment and regulation to decarbonisation. 

With shipowners facing growing pressure to modernise their fleets, she stressed that governments must provide the certainty businesses need to make long-term investment decisions. 

“In today’s changing maritime landscape, competitiveness depends on stability, predictability and the ability to adapt,” Hadjimanolis said, adding that “Cyprus is committed to providing a reliable business environment that supports investment and long-term growth.” 

She also emphasised Cyprus’ position as an EU member state and member of the International Maritime Organisation (IMO) Council, arguing that shipping regulations should be practical, internationally consistent and capable of supporting the industry’s transition. 

“We believe that sustainability and competitiveness must go hand in hand,” she explained, concluding that shipping must be able to embrace the green and digital transition “while remaining competitive.” 

Her remarks followed a series of meetings with Chinese shipowners, shipbrokers and shipbuilding companies, during which Cyprus sought to strengthen existing commercial relationships and explore opportunities for further cooperation. 

Among the most significant was a meeting with COSCO SHIPPING Heavy Industry, where Hadjimanolis held discussions with vice-president Swem Sun and senior management on expanding maritime ties between Cyprus and China. 

She was accompanied by Cyprus’ ambassador to China, Koula Sophianou, and Cyprus Union of Shipowners (CUS) president Polys Hajioannou, who also joined meetings with executives from Guohang Shipping Ocean Group and New Yangtze Navigation. 

The delegation additionally met Vasilis Koutroulis, chief executive of Seaborne Shipbrokers S.A., as part of its efforts to expand contacts across China’s shipping industry. 

Earlier in Shanghai, Hadjimanolis had met representatives of Dalian Trawind Shipping and Fortuna Shipbrokers, presenting the advantages of the Cyprus flag and answering questions about the opportunities available to shipowners considering the country’s registry. 

Those discussions followed a meeting with Wang Qian, vice-director of the Shanghai Pudong New Area Commission of Commerce and Shipping Service Office, during which the two sides examined the importance of international maritime forums in bringing governments and shipping businesses closer together. 

Beyond the commercial meetings, Hadjimanolis also represented Cyprus at the North Bund Forum 2026, following an invitation from the Chinese government. 

The event, held on October 20 and 21, brings together government representatives and industry executives to examine maritime security, supply chain resilience, ship financing, digitalisation and the transition towards cleaner shipping. 

Addressing participants, the deputy minister drew attention to the relationship between Cyprus and China, which this year marks 55 years of diplomatic relations and five years of strategic partnership. 

She reaffirmed Cyprus’ intention to strengthen cooperation with Beijing, particularly in shipping, while supporting closer relations between China and Europe. 

The discussions also come ahead of a planned visit by President Nikos Christodoulides to China in early 2027, which is expected to provide another opportunity to expand bilateral cooperation. 

The President announced the visit during talks with Chinese Vice-President Han Zheng in New York on September 25, when both sides expressed their intention to strengthen the countries’ strategic partnership. 

Meanwhile, Greece is pursuing its own maritime cooperation agenda with China, with Kikilias meeting Chinese Transport Minister Liu Wei in Shanghai following his earlier visit to Japan. 

Their discussions focused on the relationship between Greek shipowners and Chinese shipyards, particularly the substantial number and size of vessels ordered by Greek shipping companies. 

Kikilias also proposed exploring opportunities for Greek marine equipment manufacturers to participate in shipbuilding projects in China, potentially opening additional business for companies supplying the international shipping industry. 

However, the talks extended beyond commercial interests to the growing risks facing maritime transport. 

Kikilias reiterated Greece’s commitment to the United Nations Convention on the Law of the Sea (UNCLOS) and expressed serious concern about the consequences of geopolitical tensions for freedom of navigation. 

He also condemned attacks against seafarers and commercial vessels, underlining the importance of protecting maritime security and ensuring the uninterrupted movement of international trade. 

For his part, Liu Wei expressed interest in the Greek minister’s participation in the North Bund Forum, where maritime safety and the resilience of global shipping are among the principal subjects under discussion. 

The two ministers agreed to maintain contact and strengthen coordination, while Kikilias extended an invitation to his Chinese counterpart to visit Greece. 

For Cyprus, the Shanghai meetings form part of Hadjimanolis’ wider 16-day working visit to Japan, China and South Korea, aimed at attracting new business to the Cyprus shipping register and developing relationships with leading Asian maritime companies. 

Her programme also includes a visit to Zhoushan for the naming ceremony of M/V Kypros Island, a newly built methanol dual-fuel bulk carrier belonging to Safe Bulkers, which is expected to join the Cyprus register. 

The vessel provides a further commercial dimension to the visit, linking Cyprus’ efforts to attract additional ships with the industry’s investment in newer and more environmentally efficient fleets. 

Following China, Hadjimanolis will travel to South Korea for further ministerial meetings and international maritime events, continuing the government’s efforts to expand Cyprus’ presence in the Asian shipping market. 

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