GCMD partners with Olympic Shipping for decarbonisation

Onassis Foundation-controlled Olympic Shipping and Management (OSM) has become the first Greek ship owner and manager to partner with the Singapore-based Global Centre for Maritime Decarbonisation (GCMD), committing to a five-year collaboration to accelerate shipping’s decarbonisation.

As an impact partner, OSM with a fleet of 18 crude oil tankers, will provide a cash contribution towards pooled resources for GCMD’s projects, as well as in-kind contributions in terms of technical expertise and data and access to hard assets, in support of GCMD’s existing trials on drop-in green fuels and shipboard carbon capture and new pilots in the pipeline.

GCMD said it is critical for the Greek shipping community to be part of the decarbonisation conversations as one of the world’s top shipowning nations in tonnage, accounting for about 17.6% of global shipping with a total of 384m dwt and 4,870 vessels, according to UNCTAD. VesselsValue data ranked Greece at the highest in the tanker market with a fleet value of $56.2bn, and the second most valuable LNG fleet worth $29.1bn.