Performance Shipping

PERFORMANCE SHIPPING

PEOPLE, POWER AND PERFORMANCE

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PERFORMANCE SHIPPING

I PROFILE

Performance Shipping Inc, a Nasdaq-listed global shipping company, started with container vessels and then made a strategic shift towards tanker vessels in 2019. Performance Shipping is proud to put safety first, as Panos Chatzikyriakos, HSQE Director, explained to Imogen Ward and Hannah Barnett.

he company now boasts a fleet of

T

done is, we’ve invested in our people. And

seven Aframax tanker vessels, and

for us, people are our most valuable asset.”

fitted, LR2 Aframax tanker vessels on order.

operations of the fleet, handling technical

Performance Shipping has been efficiently

operations, crewing, training, maintenance,

managing its growing fleet through its

regulatory and classification compliance,

wholly owned in-house ship management

as well as health, safety, quality and envi-

company, Unitized Ocean Transport Limited

ronmental management and reporting.

three newbuild LNG-ready, scrubber-

UOT plays a pivotal role in the daily

(UOT) since 2013.

Panos Chatzikyriakos, Director of Health,

The secret to staff retention

Safety, Quality and Environmental (HSQE)

UOT takes pride in its 96% retention rate

at UOT emphasized the company’s com-

among seafarers, a testament to its focus

mitment to safety: “HSQE is a major

on people and their well-being.

investment for us at UOT, because it’s

“We have one of the highest retention

hard to make a difference. It’s hard to do

rates in the industry, not because we pay

something unique and compete with the

more than everybody else, but because

big players in the market. So, what we have

our lines of communication are open 24/7,”

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PERFORMANCE SHIPPING

I PROFILE

Mr Chatzikyriakos explained. “We interact with our seafarers frequently. We have weekly video calls, and we visit our people in Manila at least three or four times a year, even during the pandemic.”

The company’s open-door policy contributes significantly to its success. As a relatively recent entrant in the tanker industry, UOT has been able to build a strong team with some of the most well-qualified personnel.

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“Undoubtedly, qualifications are

courses we want to follow. And so far, we

important,” Mr Chatzikyriakos continued.

have managed to fully train 67 per cent of

“However, it’s the years of working together

our newcomers within our target of a year.”

that truly reveal a person’s capabilities. We observe how individuals handle pressure,

Exciting events

how they handle routine and emergency

While Performance Shipping may not

situations, and their leadership qualities. It’s

be displaying at the exhibition centre at

about understanding their performance in

Posidonia, a significant maritime event,

various aspects, from crew management to

it acknowledges Posidonia’s importance.

financial acumen and interpersonal skills.”

“It is possibly one of the biggest, if not the

The company remains committed to

biggest, shipping event,” Mr Chatzikyriakos

training, and this has paid off, with the

noted. “Regardless of the field or depart-

company reporting no major injuries or

ment, we are going to meet a lot of people

incidents since its inception. The rigorous

and there are going to be many new ideas

training programme ensures that new

floating about. There are events and semi-

recruits undergo thorough mandatory

nars for every sector. I attended discussions

training, setting the foundation for a

on crew management and HSQE last time

culture of safety and excellence.

I went. Everybody that is anybody in

“We started off with training in a few different locations in the Philippines and have slowly customised the process,”

our industry is going to be there to exchange ideas.

“Shipping, by default, is an international

Mr Chatzikyriakos elaborated. “We finalised

business. We all participate in forums and

the training centre that we want and

travel to corporate or technical confer-

established the material and the kinds of

ences, but it’s different having the whole

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PERFORMANCE SHIPPING

I PROFILE

industry gather here in Greece. Besides my

The company’s innovation extends to the

Greek colleagues, I like that I can meet with

adoption of an enterprise resource planning

individuals from the UK, Japan, India and

(ERP) system, facilitating the integrated

the US to exchange ideas. And ideally, I can

management of primary business pro-

learn about their approaches to the same

cesses through software and technology.

challenges that we face.”

This system collates information ranging from defects and breakdowns to the certifi-

Embracing the tech

cations of the crew and credentials of the

Performance Shipping is known for its

engineer using the equipment.

innovative approach, investing heavily in

“Combine that with our investment into

finding the safest mooring ropes possible

psychological evaluations, psychomet-

and establishing a strong partnership

rics and soft-skills development,” said

with Norwegian ship management and

Mr Chatzikyriakos. “We are living in the age

marine services company, Wilhelmsen.

of information, and we’ll need to have as

“We have recently finalised contracts

much data as we can. The issue is how to

with a couple of key players in the market,”

manage it all, with the resources we have

Mr Chatzikyriakos added. “They have the

as a small company with seven vessels.

resources to spend on R&D, as well as the

We must find and create smart solutions.”

clients willing explore new ventures. It’s

As a result, the next step for UOT involves

very important. We’re living in 2024 and not

using the data gathered to perfect its pre-

only will we have to accept technology,

dictive maintenance tools and elevate

but we must adapt and make sure that it

them up to a superior global standard.

doesn’t become a burden. In fact, it’s here

Mr Chatzikyriakos reflected on the

to help us.”

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industry’s evolution: “The ships basically

haven’t changed much since the 1950s.

There’s a lot of automation now onboard, but essentially, they remain the same.

I stopped sailing in 1999 and I can still sail a vessel, nothing’s changed dramatically.

“What needs to happen next is ensuring that we can predict everything that happens on board. And if we fail to predict something, then we must be able to react appropriately and correct it.”

It is clear that the chance to create meaningful change at Performance Shipping is one of the most exciting and motivating

“The major service that we provide to

aspects of working for the company. “The

customers is to safeguard their reputation.

potential is substantial,” Mr Chatzikyriakos

They rely on us to move cargo from point

said, in conclusion. “Most of our team mem-

A to point B efficiently, quickly and without

bers are young and we have established

incidents. This is what we do and what sets

a strong compliance culture. We all respect

us apart from our competitors. We are con-

the customers and go out of our way to

stantly and consistently enhancing our

make their desired outcomes a reality.

safety and efficiency.”

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