GENOA MARITIME
CAREFULLY NAVIGATING SHIPPING’S VOLATILE WATERS Powered by Inside Marine
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GENOA MARITIME
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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.”
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“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
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GENOA MARITIME
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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.
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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.”
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