Theo Xenakoudis: The human element is perhaps the most critical one for a sustainable shipping industry

Theo Xenakoudis, Chief Commercial Officer & Managing Director of IRI PIRAEUS, discusses the Republic of the Marshall Islands (RMI) Registry reaching a major milestone, the green transition of the global shipping industry, as well as attracting and retaining seafarer talent.

The Republic of the Marshall Islands (RMI) Registry has recently surpassed 200 million quality gross tons and reached 5,718 vessels, while achieving the USCG’s QUALSHIP 21 status for the 20th consecutive year. What strategies and practices have been instrumental in reaching these milestones?

These two milestones represent the Republic of the Marshall Islands Registry’s years of dedication and focus on client service. International Registries, Inc. and its affiliates (IRI), which provide administrative and technical support to the RMI Registry, consider RMI owners/operators in every decision and action. This creates a culture that is focused on providing not only good customer service but also the technical resources and support that RMI owners/operators need to keep their vessels moving and strengthen their businesses. From hiring technical experts across the world to consult on new and emerging technologies, to expanding opportunities for digital scheduling and meeting with port State control (PSC) authorities to build relationships of increased transparency and trust, the Registry acts to support owners/operators of RMI-flagged vessels and provide efficient flag State support.

The global shipping industry is under significant pressure to transition toward decarbonisation. How is the Registry supporting this transition? What initiatives or collaborations are in place to promote and facilitate the adoption of greener technologies and practices among shipowners and operators?

Decarbonisation targets are impacting short- and long-term decisions and the RMI Registry is well-positioned to support owners and operators as they navigate decarbonisation and sustainability. In four key areas – Gas, Cruise, Renewables and Offshore – the Registry has formed global focus teams, comprising individuals with expertise, knowledge and experience. Each team offers owners and operators some of the most advanced technical support in the world – a significant benefit in the face of aggressive decarbonisation targets and technical change. The RMI Maritime Administrator participates in joint development and research projects, and in collaborative reviews and assessments of alternative energies and technologies. Owners and operators of RMI-flagged vessels benefit from this hands-on experience and knowledge, especially when looking to make informed decisions about their decarbonisation strategies. Additionally, the Registry’s strong professional relationships with Classification Societies, PSC authorities and other stakeholders maintain a flow of reliable information between owners/operators and regulators, which is especially important as situations can change rapidly.

Finding and retaining seafarer talent is crucial for the industry’s sustainability. How do you support seafarers and what specific benefits and opportunities do you offer to ensure their engagement and satisfaction?

The human element is perhaps the most critical one for a sustainable shipping industry. The RMI Registry partners with leading institutions and training facilities around the world to increase awareness about the wide variety of careers in the maritime industry, to raise the profile of the industry and educate the next generation of industry leaders. The Piraeus office participates in local and regional seminars, workshops and events for students and cadets to increase their understanding of the industry and their exposure to careers both at sea and shoreside. Other offices participate in regional events and, in addition, the Manila office partners with seafarer training facilities to ensure that their curricula and technical skills meet the needs of a modern fleet.

Looking ahead, which emerging technologies will be the most significant growth drivers in the shipping industry? How are you preparing to integrate and support these technologies?

Technology will continue to drive change in the industry and the RMI Registry is prepared to evaluate, assess and implement emerging technologies as they become feasible and appropriate. Technologies related to fuel usage, alternative energies and vessel optimisation will likely have a significant impact and drive growth in the industry as the world fleet strives to meet its decarbonisation targets. Internally, the Registry continues to implement technology to meet the needs of busy owners and operators. For example, digital options for submitting seafarer documentation allow owners and operators to streamline their interactions with the Registry, while personalised attention and service remain available throughout our 28 worldwide offices.

(This article first appeared in the July issue of GOLD magazine. To view it click here)