Genoa Maritime

GENOA MARITIME

CAREFULLY NAVIGATING SHIPPING’S VOLATILE WATERS Powered by Inside Marine

insidemarine.com

GENOA MARITIME

106 Inside marine

I PROFILE

Genoa Maritime, a leading ship management company specialised in vegetable oils and fertiliser-carrying vessels, has survived the peaks and troughs of the shipping industry through a cautious and considered approach. Managing Director George Magliveras sees no deviation from that philosophy. However, in conversation with Andy Probert, he is outspoken on the ever-changing and challenging landscape of an industry with which his family has had historical links for nearly 100 years. talian-born, Greek-based, Indian-

I

1930s. Due to its professed philosophy

crewed and Norwegian-partnered.

of ship management enacted through

A kaleidoscopic international smorgas-

a ship owner’s eyes, Genoa Maritime

bord that describes, but doesn’t define,

has remained at the forefront of ship

Managing Director George Magliveras

management expertise, backed up by

and his aptly named Genoa Maritime.

a skilled pool of Indian crews, as well as

With such a global overview, Mr

shore staff having great previous experi-

Magliveras - born in Genoa but now

ence at sea, partnered by Norway’s

located in Piraeus, Greece – has a unique,

Champion Tankers.

if critical, eye on an industry that has

“We approach ship management

changed beyond comprehension since

with a ship owner’s mentality,” said

his ship management business launched

Mr Magliveras. “We believe in the

in 1997, and even more so given his family

personal touch, and our crews are our

lineage in shipping dating back to the

priority. Happy ships are productive ships.”

Inside marine 107

GENOA MARITIME

I PROFILE

“SHIPPING IS ALREADY HEAVILY REGULATED, BUT EMERGING REGULATIONS ARE BECOMING TOO MUCH. WE MUST LIVE WITH THAT, BUT THE CREW MUST BE THE KEY PRIORITY” 110 Inside marine

Indeed, the long-standing experience

help enter this sector. I proposed that our

behind Genoa Maritime ensures it stays

partner, Champion Tankers, could adopt

the course, not only through cyclic highs

the ships into its fleet while we handled

and lows of the shipping market at large,

the technical and crew management.

but to anticipate and prepare itself for

“They accepted, and it has given the

more unprecedented changes.

“We established close ties in 2000

family a good base to seek further development as it has the means and the

with Champion Tankers, and that business

willingness. With Champion’s participation

alliance is still active today,” Mr Magliveras

and GM’s input the family are delighted,

said. “While Champion Tankers sustains

as we have collectively improved their

the majority of commercial operations,

vessels’ performances in an alternative

we perform technical and administrative

and additional sector of shipping trade”.

tasks as well as crewing and related

Those close links between Genoa

disciplines, together with our own opera-

Maritime and the Greek family have

tions. We are unique as a Greek business

conspired to work in each other’s favour.

cooperating with a Norwegian company

GM has relocated into the same building

of this kind.”

as the family company running the dry cargo ships, ensuring rapid decision-

Measured approach Genoa Maritime presently has five

making and a smooth logistic overview.

“We remain independent, but it offers

vessels under direct management; all

an opportunity for this partnership to

chemical tankers between 43,000 and

supply more ships to Champion in the

51,000dwt, and all utilised for the world-

future,” Mr Magliveras explained. “It’s

wide transportation of edible oils such as

not GM’s aim to have many ships in its

sunflower oil, as well as fertilisers. “We are

management; we are organised to have

specialised in this trade. It is a niche we

six to eight in our fleet.

enjoy,” he said.

When Inside Marine last spoke with

“Due to market conditions, it is not a good period to buy ships as they

Mr Magliveras in 2020, there were

are too expensive: the market is much

ambitions to diversify into the dry bulk

inflated and unpredictable. We take

sector. Today, he reflected: “There was

a measured approach and will be

an involvement, but not from a ship

patient as the industry is volatile. Timing

management point of view. We invested

is everything.”

with a close Greek family I have known

That volatility is also prevalent in the

for over 30 years. They were without

sector Genoa Maritime specialises in and

ships then, so I helped them, and since

is skewed by global sanctions due to the

2017 have taken on dry cargo vessels.

Ukraine-Russian conflict. He said: “We have

“In turn, as they were unfamiliar with the

a peculiar situation in which politicians,

product tanker business they asked us to

who don’t understand the world in which

Inside marine 111

GENOA MARITIME

I PROFILE

we trade, impose sanctions on goods they

a large pool of between 400 and 500

do not have, and on people, entities and

qualified and experienced officers

nations that have these commodities.

and ratings.

“Europe 100 per cent needs edible oils

“Ship management has developed

and fertilisers. So, what happens? This

very much since 1997 and is becoming

distortion fuels the kingdom of the mid-

more critical,” said Mr Magliveras.

dleman. You do not import directly from

“Nowadays, you must be fully compliant

sanctioned countries: Instead, the cargo

with all the regulations and require-

is sold to other countries that don’t apply

ments regarding environmental risk.

sanctions. This cargo is then re-exported

“The industry has changed so much

to the countries applying the sanctions.

over the years. Sometimes there are

This is the middleman’s paradise: they

crazy ideas – look at alternative fuels,

benefit from these additional costs. It’s

such as ammonia and methane. We are

a crazy situation and an awkward one

not dealing with Einsteins when we are

for shippers.”

talking about the crew. They are already under too much pressure.

Industry challenges

“If we put the obligation on them to

Since 2001, Genoa Maritime’s crew

utilise dangerous commodities for

management has been organised

fuel, then the risk for the ships is much

through its Genmarco Maritime Services

increased. Methanol, for example, is

office in Mumbai, India. Thus, it maintains

highly flammable and very dangerous.

114 Inside marine

Mr Magliveras highlighted how transparency and good communication I appreciate we must improve emis-

remained the important principles for good

sions, but we need to care about safety.

relations with crew, clients and suppliers.

“There are many people around

“Since 1997, Genoa Maritime has handled

shipping nowadays that don’t know

more than 40 ships,” he said. “Ultimately, to

the practice of shipping. It is a tough

guarantee a client’s satisfaction with good

proposition, a complex profession, and

management from Genoa Maritime is the

a qualified crew is hard to find. The crew

overall experience. To have the ship owner’s

must carry many burdens. If we increase

confidence is the utmost for a ship manager.

that with sophisticated fuels and safety

“Shipping remains the cheapest and

alerts, I think there will be problems.”

He revealed that another challenge in

safest form of cargo transportation compared to road, rail or air,” Mr Magliveras

the industry was the growing regulation

concluded. “But I find there’s a lot of

around shipping and emissions: “That is

hypocrisy regarding those that seek to

very demanding and the most crucial

govern shipping. There’s no opportunity

field to stay ahead of.

to discuss their decisions.

“Shipping is already heavily regulated,

“Essentially, we are the last wheel on

but emerging regulations are becoming

the train in the decision-making process,

too much. We must live with that, but

however, we have to bear the responsibility

the crew must be the key priority. Yet it is

of these decisions. Yet, I and all those

a declining profession, and qualified and

associated with Genoa Maritime remain

loyal crew is hard to find.”

firmly grounded in reality.”

n Inside marine 115