Limassol-based shipowner and operator Lemissoler Navigation Co Ltd, under the direction of founder, chairman, and CEO Philippos Philis, has signed a significant contract for eight methanol-fuel ultramax bulk carrier newbuildings with CSSC Huangpu Wenchong Shipbuilding. This pioneering step makes Lemissoler Navigation Co Ltd the first to commission methanol dual-fuel ultramax bulk carriers in China. The contract encompasses four firm orders for methanol-fuel ultramax bulk carriers and options for four more, representing an investment exceeding $320 million. Lemissoler Navigation Co Ltd, established in 1996 by Philippos Philis, has grown to become a notable entity in the global shipping industry, known for its diversified fleet and commitment to innovative and environmentally sustainable shipping solutions. Lemissoler Navigation Co Ltd operates a variety of vessels including bulk carriers, container ships, and chemical tankers, and is actively involved in various segments of shipping operations from technical management to crewing and post-fixture operations. This new venture into methanol-fueled ships highlights Lemissoler Navigation Co Ltd’s commitment to reducing the environmental impact of its operations and aligning with global efforts to curb emissions in the maritime sector. Shipbrokers note that this deal not only underscores the shift towards greener alternatives in shipping but also positions Lemissoler Navigation Co Ltd at the forefront of adopting next-generation fuel technologies. Lemissoler Navigation Co Ltd has committed to an ambitious order of up to eight methanol dual-fuel ultramax bulk carriers at CSSC-affiliated Huangpu Wenchong Shipbuilding. This agreement represents Huangpu Wenchong Shipbuilding’s initial venture into the ultramax category. The contract includes four confirmed 65K DWT methanol dual-fuel ultramax bulk carriers, each valued at over $40 million, with the option to acquire four more. This order follows Lemissoler Navigation Co Ltd’s unveiling of a methanol-fueled ultramax design in December 2023, developed in collaboration with Shanghai Merchant Ship Design & Research Institute (SDARI) and the American Bureau of Shipping (ABS). Lemissoler Navigation Co Ltd, which currently manages a modern fleet of 12 eco supramax and ultramax bulk carriers constructed from 2015 to 2020, marks its first new building order since 2017 with this significant expansion. 22-May-2024
At the Marintec exhibition in Shanghai, China Shipbuilding unveiled the design of its inaugural methanol-powered ultramax bulk carrier. The pioneering design, developed by Limassol-based Lemissoler Navigation, has received the American Bureau of Shipping’s (ABS) preliminary nod. This 65K DWT ultramax vessel, touted as the first for China’s shipbuilding industry, is a collaborative effort between Lemissoler Navigation and the Shanghai Merchant Ship Design & Research Institute (SDARI). It marks a significant stride in exploring methanol as a sustainable fuel alternative to curb carbon emissions in shipping. The carrier’s design, optimized for energy efficiency, surpasses Phase 3 standards of the Energy Efficiency Design Index (EEDI). This development underscores methanol’s potential in reducing maritime emissions and positions Lemissoler Navigation at the forefront of China’s shipbuilding decarbonization efforts. Established in 1996 in Limassol and led by Philippos Philis, Lemissoler Navigation boasts a modern fleet of 12 eco-friendly supramax and ultramax carriers. The new 65K DWT methanol-powered design signals a potential expansion of their fleet, the first since 2017, and highlights their commitment to innovative and environmentally-friendly shipping solutions. This collaborative venture with SDARI and ABS exemplifies the significant advancements achievable through joint efforts. Lemissoler Navigation, aiming for net-zero emissions by 2045, continues to be a trailblazer in the industry. Until now, Japanese shipyard Tsuneishi Shipbuilding Co. Ltd. has been a key player in constructing methanol-fuelled carriers. Their first methanol dual-fuel ultramax bulk carrier order, slated for delivery in 2025, was placed earlier in February. 9-December-2023
Limassol-based shipowner and operator Lemissoler Navigation Co Ltd CEO Philippos Phillis and the esteemed chairman of the European Community Shipowners’ Associations (ECSA), ardently posits that amidst a nebulous regulatory milieu, collaboration between operators and shipowners emerges as a paramount conduit propelling the decarbonisation of the maritime realm. At the recent Capital Link Greek Shipping Forum, this distinguished Cypriot ship magnate and preceding head of the Cyprus Shipping Chamber (CSC), delineated four quintessential tenets of maritime decarbonisation: technical, commercial, regulatory facets, and the intriguingly termed ‘fourth combustion revolution’, synonymous with alternative eco-friendly fuels. The visionary founder and chief executive of Cyprus-based shipowner and operator Lemissoler Navigation articulates that the shipping domain embarked on its transformative phase a decade and a half ago. Vessels commissioned post-2013 are technologically superior, curbing emissions by a commendable 20% to 30%. A graduate in mechanical engineering from RWTH Aachen, complemented by a Harvard Business School (HBS) diploma, his company, Lemissoler Navigation, is deeply entrenched in research and innovation, zealously pursuing enhanced maritime efficacy and diminished carbon imprints. For Limassol-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis, it’s imperative now to foster a symbiotic rapport between owners and operators to fine-tune aspects such as speed and consumption. Yet, Philippos Phillis accentuates the pressing need for refining coordination with ports and direct ship communications. “Mutual collaboration is non-negotiable; it establishes a foundation for effective commercial strategies to progressively mitigate emissions. An overlooked facet, perhaps warranting International Maritime Organization (IMO) intervention, is enhancing port coordination and streamlining ship communication for timely arrivals,” Philippos Phillis passionately conveyed. Limassol-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis expressed reservations about imminent regulatory introductions, including the EEXI and CII stipulations, pondering their genuine impact on carbon intensity. From the ECSA vantage, while such regulations ought to be embraced, they must remain “technologically impartial”. “ECSA’s aspiration is to ensure these stipulations come into effect without undermining European shipping’s competitive edge, all the while preserving an equitable arena,” Limassol-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis underscored. Regarding prospective fuels, Cyprus-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis emphasized the pressing relevance of life cycle analyses for substitute fuels. “We must comprehensively evaluate these alternatives from extraction to utilization, underscoring our imperative for eco-friendly options. If not green, it’s akin to powering electric vehicles with fossil-derived electricity—a counterproductive endeavor, a sentiment echoed by the IMO,” he professed during the symposium. Lemissoler Navigation CEO Philippos Phillis conveyed skepticism about biofuels without engine modifications. “From an engineer’s perspective, major engine producers might concur, but there lies a potential pitfall for shipowners, necessitating meticulous scrutiny,” he cautioned. Lemissoler Navigation CEO Philippos Phillis further elaborated on the transition to eco-friendly fuels, highlighting the financial disparity with conventional options. There’s a pressing call for an intermediary to bridge this fiscal divide, potentially through carbon contracts for difference. Lastly, focusing on fuel suppliers, Lemissoler Navigation CEO Philippos Phillis stressed their shared accountability. “Their role cannot be sidelined, for they supply the fuel. Their actions should be certified, holding them accountable for their contributions,” Lemissoler Navigation CEO Philippos Phillis stated at the forum. 6-June-2022
Limassol-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis has ascended to the prestigious role of president for the European Community Shipowners’ Associations (ECSA). His tenure, set to span two years, commences this January, with Karin Orsel gracing the role of vice-president. The esteemed founder of Cyprus-based shipowner and operator Lemissoler Navigation, Philippos Phillis, succeeds the venerable Claes Berglund, who helmed the role since 2020. “As we usher in the dawn of this new ECSA leadership, we find ourselves navigating the tumultuous seas of a global economy destabilized by the COVID pandemic. Concurrently, the maritime realm faces the Herculean task of confronting environmental predicaments, notably the escalating climate crisis, whilst actively shaping a novel regulatory framework. Our endeavors should synergize the pursuit of robust ship financing avenues, the EU’s trade liberalization strategies, the surge of digitalisation, and the imperatives of maritime security. It’s paramount that forthcoming regulations serve as catalysts for enrichment, rather than eroding the vigor of our sector. Such is the rationale behind the imperative for ECSA’s resonant presence in Brussels,” articulated the freshly inaugurated ECSA president. Inherently global in nature, the shipping sector mandates an equitable international arena. Concurrently, our industry stands poised for transparent engagement and is keen on fostering discourse with the policy architects of the EU, conveyed the newly minted ECSA vice-president, Karin Orsel, the linchpin of the MF Shipping Group in the Netherlands. 9-January-2022
Having completed his distinguished tenure with the Cyprus Shipping Chamber, Limassol-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis ascends to spearhead the European Community Shipowners’ Associations (ECSA). Cyprus-based shipowner and operator Lemissoler Navigation CEO Philippos Phillis, after serving a singular three-year term at the helm of the Cyprus Shipping Chamber, now passes the baton to Themis Papadopoulos, the esteemed chief executive of Interorient Navigation, who is no stranger to this prestigious role. 20-May-2021
Limassol-based shipowner and operator Lemissoler Navigation has discreetly offloaded the trio of supramax bulkers under its Diolkos Maritime branch. The 56K DWT MV Anogyra, built in 2011, alongside the 56K DWT MV Lefkoniko and MV Leonarisso, both built in 2010, have been acquired by an unidentified purchaser. These vessels were masterfully constructed at the Jiangdong Shipyard, located in China. MV Anogyra was exchanged for an impressive sum of $10.3 million, whilst the remaining two maritime crafts were each traded for a neat $10 million, as indicated by various sources. Such pricing suggests that MV Anogyra might have changed hands earlier, witnessing the fluctuation in its value. It is conjectured that MV Leonarisso’s ownership transitioned towards the close of August. Having adorned the marketplace for a considerable duration, these ships were initially procured during the inception of Diolkos in 2011, through clandestine transactions. The culmination of this triad’s sale unfolds as the organization anticipates the arrival of eight ultramax vessels from New Times Shipbuilding, poised to grace the seas later this annum and in 2020. In the frosty month of December 2017, Limassol-based shipowner and operator Lemissoler Navigation’s subsidiary, FrontMarine, sealed an agreement with New Times Shipbuilding in China, securing eight ultramax bulk carriers, each boasting a 64,000 DWT, at a staggering fee of $25 million apiece, with the potential of acquiring an additional eight. However, these additional options are presumed to have been forsaken. 29-May-2020
In an era where environmental concerns dominate the maritime regulatory discourse, the ascent of Claes Berglund to the presidency of the European Community Shipowners’ Associations (ECSA) seems most fitting. The esteemed director of public affairs and sustainability from Stena was endorsed to transition from the role of vice president to the paramount position within European Community Shipowners’ Associations (ECSA) during the recent general assembly in Athens. Mr. Claes Berglund, succeeding Panos Laskaridis, will helm the role for a biennial tenure – overseeing the implementation of the sulphur cap, alongside additional eco-centric mandates. Subsequently, it is anticipated that Philippos Philis of Cyprus, the visionary founder and director of Limassol-based shipowner and operator Lemissoler Navigation, having been elected as vice president, will assume the presidency. 2-October-2019
Limassol, Cyprus based Lemissoler Navigation is selling old supramax bulk carriers in a fleet renewal process. Lemissoler Navigation is trying to sell three (3) bulk carriers:
- MV Lefkoniko 56K 2010 built
- MV Leonarisso 56K 2010 built
- MV Anogyra 56K 2011 built
Lemissoler Navigation is going to renew its fleet. Furthermore, Lemissoler Navigation has ordered eight (8) supramax newbuilding bulk carriers at New Times Shipbuilding, China. New Times Shipbuilding will commence the delivery of the vessels in Q1 2020. Lemissoler Navigation reported old bulk carriers to the sale and purchase (S&P) market.
Lemissoler Navigation is led by Philippos Philis. Supramax bulk carrier is a very popular vessel type among shipowners and supramax bulk carriers account for nearly one-third (1/3) of all bulk carriers sold in the second-hand market. 4-September-2019
Incepted in 1996 amidst the scenic backdrop of Limassol, Cyprus, Lemissoler Navigatio has metamorphosed from a local Liner Shipping Entity to a globally recognized Maritime Consortium. Limassol-based shipowner and operator Lemissoler Navigation excel in the realm of dry bulk cargo maritime conveyance, with unwavering allegiance to our paramount Corporate Ecological Stewardship. Cyprus-based shipowner and operator Lemissoler Navigation accomplishments resonate with the triumphs of our esteemed clientele. Lemissoler Navigation’s profound industry acumen, coupled with our unparalleled interdisciplinary methodology, furnishes our patrons with myriad incentives for perpetual association. Lemissoler Navigation is galvanized by our envisaged horizon of Unerring Nautical Trust and Esteemed Maritime Ventures. Lemissoler Navigation’s purpose, to Forge Unparalleled Value, compels us to perpetually recalibrate our tactics in response to the fluid dynamics of the nautical realm. Lemissoler Navigation diversify naval endeavors across both immediate and prolonged markets, proffering our cornerstone services in Ship Stewardship, Commercial Oversight, Institutional Management, and Pioneering Research & Advancement, perpetually underscored by Corporate Accountability, Novelty, and Technological Integration. 30-June-2019
Cyprus’s esteemed FrontMarine, sister company of Limassol-based shipowner and operator Lemissoler Navigation, has commissioned eight (8) 63,000 DWT ultramax bulk carriers from New Times Shipbuilding for an attractive valuation of $26 million per vessel. These tier III ultramax bulk carriers are slated for a 2020 delivery, incorporating additional options. FrontMarine has a rich history of collaboration with the Chinese shipyard, previously commissioning a set of four supramax bulk carriers back in 2013. Established by the visionaries behind another renowned Cypriot maritime firm, Lemissoler Navigation, FrontMarine’s mission is to attract discerning investors via singular purpose entities. As articulated on their official portal, FrontMarine harbors aspirations to eventually go public. 11-December-2017